PUBLISHER: The Business Research Company | PRODUCT CODE: 1733572
PUBLISHER: The Business Research Company | PRODUCT CODE: 1733572
A digital banking platform is a technology-driven solution that enables financial institutions to offer banking services through digital channels. These platforms provide customers with access to a wide range of banking functionalities, including account management, fund transfers, bill payments, loan applications and investment services, all through web-based or mobile applications.
The digital banking platform market consists of sales by entities (organizations, sole traders and partnerships) of digital banking platforms that cater to both individual consumers and businesses, allowing them to perform banking activities without the need for physical branch visits. They are used throughout the day, offering round-the-clock accessibility, which enhances convenience and efficiency for users.
The global digital banking platform market was valued at $3,736.77 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 14.00%
Growth In E-Commerce
The growth in e-commerce fueled the growth of the digital banking platform market during the historic period. E-commerce refers to the buying and selling of goods and services over the internet, encompassing online retail, digital marketplaces and business transactions conducted electronically. The growth in e-commerce is driven by rising internet penetration, increasing smartphone adoption, advancements in digital payment systems, evolving consumer preferences for convenience and the expansion of logistics and supply chain networks. Digital banking platforms play a crucial role in e-commerce growth by enabling secure and seamless online transactions, offering flexible payment solutions, enhancing financial accessibility and fostering trust among consumers and businesses. For instance, in February 2025, according to reports published by the United States Census Bureau, a US-based government agency, in the fourth quarter of 2024, U.S. retail e-commerce sales totaled an estimated $352.9 billion, reflecting a 22.1% increase from the previous quarter and a 9.3% rise year-over-year, while total retail sales grew 4.5% annually, with e-commerce making up 17.9% of total sales. Therefore, the growth in e-commerce drove the growth of the digital banking platform market.
Digital Platform Enhancing Small And Medium Enterprise Banking Efficiency Security And Experience
Leading companies in the digital banking platform market are focusing on developing innovative solutions to improve the efficiency of small and medium enterprise (SME) banking. These platforms aim to deliver a secure, seamless and customer-centric digital banking experience. Digital banking platforms are software solutions that allow financial institutions to offer online banking services, enabling customers to conduct traditional banking tasks-such as managing accounts, transferring funds and paying bills-through digital channels like mobile applications and websites. For instance, in January 2025, An Binh Commercial Joint Stock Bank (ABBANK), a Vietnam-based commercial bank, launched ABBANK Business. The platform enables seamless, secure transactions with features such as customizable account numbers, quick bill payments, international money transfers and an intuitive dashboard for real-time asset tracking and interest rate updates. This launch marks a significant step in ABBANK's digital transformation, achieving 100% customer migration in just three months and reinforcing its commitment to delivering a superior banking experience tailored to business owners.
The global digital banking platform markets fairly concentrated, with large players operating in the market. The top 10 competitors in the market made up 38.66% of the total market in 2023.
Digital Banking Platform Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global digital banking platform market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for digital banking platform? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The digital banking platform market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider digital banking platform market; and compares it with other markets.