The automation of traditional banking is known as digital banking. Bank customers can use digital banking services to obtain banking services and products via an electronic or online platform. Digital banking platforms allow banks to adopt and improve advanced technological services using electronic devices such as mobile phones, computers, laptops, smart TV, etc.
Digital banking entails digitizing all banking activities and replacing the physical of the bank with a permanent digital platform, effectively eliminating the need for the customer to visit the branch. Consumer preferences have suddenly changed to internet and mobile devices. But many financial institutions are still struggling to adapt their banking experiences to digital portals and the relatively small screens of smartphones.
Customers are increasingly willing to switch between banking institutions for digital capabilities such as bill payments, mobile payments, and loan applications, so that banks cannot delay investing in digitization. Here, the digital banking platform comes into the picture.
Digital banking is now in the mainstream as other industries are not facing transformation and the banking industry is also facing digital transformation. Under this situation, digital banking platforms do not leave banking institutions alone. They work collaboratively with them.
Digital Banking Network
Taking things to the advanced and technologically complex stage, the process has many benefits as well. Similarly, digital banking platforms are working towards optimizing banks and their customers for a great experience.
Consumers can conduct banking transactions from the comfort and privacy, whether they are elderly people who are really tired of waiting in queues, business leaders who are busy with work, or ordinary people who do not want to visit a bank branch to do a single task. It is also convenient.
To add even more convenience, Digital Banking allows the user to conduct banking transactions around the clock, with 24/7 access to banking functions. In addition, automatic payments such as electricity bills, phone bills and credit card bills are now possible through digital banking which are now enabled digital banking platforms.
Top 5 Digital Banking Platforms That Have Become Customer Satisfaction
Verified market research experts have identified exciting facts in Global Digital Banking Platforms Market Report. According to the report, the market was standing at 3.14 billion US dollars in 2018. expected to touch 7.13 billion USD by 2026.
Due to the exponential growth in the demand for automated banking solutions, it will grow at a rate Compound annual growth rate of 10.75% from 2019 to 2026. to discover more, Loading sample report.
my parents Appway provides everything financial services companies need to get work done and create excellent customer experiences at every point of interaction. The company was founded in 2003 and is headquartered in Zurich, Switzerland.
Appway empowers financial and banking services by adopting the latest technology. They provide services to wealth management firms, private banks, asset managers, and others who have state-of-the-art client management technology. The company is a leading global provider of digital solutions for business finance and acts as a great digital banking platform.
Backbase It was founded in 2003 and is headquartered in Amsterdam, the Netherlands. Jock Bletter, the company’s founder and CEO. Backbase is a software company that helps banks with digital transformation.
Backbase is one of the leading digital banking platforms. The company helps banks to update all points of contact with customers and takes charge of the complete transformation. It acts as a cloud platform with its exceptional applications and methods. Backbase’s API, SDK, and design system provide strong competition to all other digital banking platforms.
ebankIT It was founded in 2014 and is headquartered in Porto, Portugal. It specializes in helping banks achieve their full potential, strengthening relationships with customers while reducing expenses and increasing digital revenue.
ebankIT is a global company that is creating a cutting edge multi-channel digital banking platform with skills. The organization aims to help the banking business realize its true potential. With the adoption of electronic banking information services, banks and financial companies have gained a strong client base. Nowadays, it offers high quality digital banking platform solutions.
design thought Firmly customer centric, with cutting-edge products delivering value at more than 250 financial institutions in 30 countries. The company was established in the year 2014 and is headquartered in Chennai, Tamil Nadu.
Intellect Design is a global leader in digital technology in banking and other financial services. The company has an ultimately focused product business, catering to the needs of financial institutions in various stages of technology adoption. The company focuses on introducing long-term banking services by anticipating and addressing the needs of today’s business.
Finastra It was founded by Kevin Lomax in 2017 and is owned by Vista Equity Partners. It is a financial software company based in London. The company offers a diverse range of products and services to the retail banking, transaction banking and other industries.
Finastra is known for providing the best possible digital banking platforms for banks and financial companies. The firm has deep expertise and experience in the knowledge of retail banking, lending, treasury, transaction banking and capital markets. It has a global footprint and a wide range of financial software solutions.
The increasing demand for software and technologies in the banking sector allows digital banking platforms to provide the most innovative and cutting-edge solutions. Customers are becoming more familiar with all technologies and trends. As a result, it has become imperative for banks to upgrade themselves.