The Asia-Pacific digital banking market is estimated to grow at a significant growth rate of around 10.0% over the forecast period to hit over $14.0 billion in 2025 from nearly $7.5 billion in 2018. Asia-Pacific is the fastest-growing region in the ICT sector due to its rapid transformation towards digital economies. The region comprises the fastest emerging economies including India and China. Growing digitalization in these emerging economies is creating enormous opportunities for the digital banking market in the region. Further, extensive support from the government organizations to encourage digital transactions in economies such as China, Japan, India, Australia, Indonesia, and others, is driving the trend towards advanced digital technologies in the banking sector. 

Various financial institutions are continuously working with tech giants to develop digital banking platforms in order to improve customer’s overall banking experience along with reducing potential threats of cyber-attacks. For instance, MUFG – Japan’s largest bank partnered with TCS Group to implement a Regional Payments Hub – powered by TCS BaNCS for payments. Moreover, the region is advancing towards digital banking technology to encourage its competitiveness and to create a potential business market in order to attract a huge amount of investment. Increasing internet accessibility and smartphone penetration are making people more open to exploring new payment methods that can replace cash.

The Asia-Pacific digital banking market is segmented on the basis of type and solution. Based on type, the market is classified into corporate banking, investment banking, and retail banking. Retail banking held the largest share in 2018 and is expected to maintain its dominance during the forecast period. Retail banking involves a wide range of services, including saving accounts, personal loans, mortgages, certificates of deposit (CDs) and investment and fund management. Rising demand for internet banking among individuals to manage their accounts and conduct financial transactions is primarily contributing to the growth of the segment. Based on solution, the market is classified into processing services, payment solutions, customer and channel management, and risk management.

Furthermore, the market is characterized by the presence of several players including Tata Consultancy Services Ltd., Microsoft Corp., Oracle Corp., Fiserv Inc., FIS Global and many others. These players adopt various strategies in order to compete in the global industry. Mergers and acquisitions, product launch, geographical expansion, and partnerships and collaborations are some of the strategies adopted by the players. 

Research Methodology

The market study of the Asia-Pacific Digital Banking market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation:

1. Asia-Pacific Digital Banking Market Research and Analysis by Type
2. Asia-Pacific Digital Banking Market Research and Analysis by Solution

The Report covers:

• Comprehensive research methodology of the Asia-Pacific Digital Banking market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific Digital Banking market.
• Insights about market determinants which are stimulating the Asia-Pacific Digital Banking market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.