Denmark digital banking market is estimated to grow at a significant growth rate over the forecast period. Denmark is moving towards digitalization at a rapid pace due to governmental support and private investments. The country is focused on digitalization in various sectors including finance and banking. With the digitalization across the country, digital banking market is estimated to grow as the availability of infrastructure and platform would increase. The economy of Denmark has continued its steady GDP growth of around 2% in 2018, according to the European Banking Federation. Since the beginning of the financial crisis, the banks of Denmark have gradually recovered. 

Denmark has one of the most digitalized financial sectors across the globe, and it is still evolving with initiatives such as a new mobile app for the online log-in solution, NemID, launched in 2010. This initiative was launched to fight against the increasing online crime that targets the banks and their customers. Much of the digital development has been achieved due to strong collaborations between the financial and the public sector. For instance, in August 2019, the Danish banking app Lunar Way received a banking license and $29 million in funding. The company, which started with a banking app, has now announced its plans to strengthen its position in Denmark and Sweden by using this fund.

Denmark 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 ACI Worldwide Inc., 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 Denmark 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. Denmark Digital Banking Market Research and Analysis by Type
2. Denmark Digital Banking Market Research and Analysis by Solution

The Report covers:

• Comprehensive research methodology of the Denmark 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 Denmark digital banking market.
• Insights about market determinants which are stimulating the Denmark digital banking market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.