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Read MoreNorth American Digital Banking Market revenue to cross $800 Bn by 2026
Published Date: 2021-07-06
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North American Digital Banking Market size is anticipated to reach USD 800 billion by 2026, according to a latest forecast report by Graphical Research.
The North America industry growth is attributed to the developments in financial technologies and growing emphasis on digitization. The region is witnessing an exponential growth in the use of various mobile-enabled devices for banking operations. This is driving regional enterprises to improve the banking service delivery with the modernization of banking infrastructure. Several banking enterprises across the geography are also leveraging technology solutions to enhance their banking operations.
The North America retail banking market from retail banking is expected to grow significantly from 2020 to 2026. The major emphasis on consumer-based businesses from banking enterprises is anticipated to spur the adoption of digital banking services. Banking enterprises are focusing on the adoption of digital channels, products, and business models. Companies are also focusing on the development of affordable banking propositions. The expansive demand from enterprises to enhance their retail business operations is expected to support the segment growth.
Browse detailed statistical insights from the report, “North America Digital Banking Market Forecast 2026 By Type (Retail Banking, Corporate Banking, Investment Banking), By Service (Transactional [Cash Deposits & Withdrawals, Fund Transfers, Auto Debit/Auto Credit Services, Loans], Non-transactional [Information Security, Risk Management, Financial Planning, Stock Advisory]), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1869/north-america-digital-banking-market
The transactional service segment is anticipated to hold a significant share in the digital banking industry by 2026. The demand for digital banking services for cash deposits and withdrawal is expected to increase significantly. The use of digital banking service eliminates the need to visit bank branch to perform financial transactions. The enhanced scalability and ease-of-use offered by digital banking services are contributing to the market growth.
Canada is expected to grow exponentially in the North America digital banking market from 2020 to 2026. The banking enterprises in the country are adopting digital platforms to enhance their banking operations. For instance, in August 2020, the Canadian Imperial Bank of Commerce planned to leverage Salesforce’s CRM platform to enhance customer experience. The bank is emphasizing more on end-to-end digitization, advanced analytics, and enhanced time to market. The rising emphasis on online banking operation is anticipated to contribute to the market growth.
The companies operating in the market are focusing on new product development and innovations. For instance, in May 2020, the company launched Contextual ALM 2020 that is integrated with seamless data aggregation, Balance Sheet Risk Algorithms, and Analytics. This launch helped the company to provide financial institutions with advanced visibility to balance sheet and liquidity management. Similar technology developments from other regional enterprises are expected to contribute to the market growth.
The North America digital banking market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD million from 2015 to 2026 for the following segments:
North America Market, By Type
- Retail Banking
- Corporate Banking
- Investment Banking
North America Market, By Service
- Transactional
- Cash Deposits & Withdrawals
- Fund Transfers
- Auto-debit/ auto-credit services
- Loans
- Non-transactional
- Information Security
- Risk Management
- Financial Planning
- Stock Advisory
The above information has been provided for the following countries:
- North America
- U.S.
- Canada