The Global internet banking market size is anticipated to grow to $xxxx million from $xxxx million, mounting at a healthy CAGR of xxx% over the forecast period. The internet banking market across the globe is predominantly driven by wide-ranging internet penetration, technologically advanced interface and higher rates of interest in developed as well as developing economies, disposable incomes and healthier financial accounting by improved investment opportunities. The other major factor driving the market’s growth is the expansion of e-commerce segment along with sharp as well as insightful marketing & advertising campaigning in order to attract new-fangled customer base. Thus, rapidly increasing the internet banking transactions plus enabling internet banking industry to adjust with the changing behavior & pattern of the consumers.
Moreover, the global internet banking market has progressively been developing with a substantial revenue as well as massive expansion across different demographics. Moreover, since past few years online banking has played a vital role in terms of financial transactions. Besides, there is a massive upsurge of the consumers taking on to online banking, among them majority are the ones demanding improved transparency & flexibility in their banking requirements. Also, customers across the globe expect the entire online banking experience to be user- friendly (easy and simple). Furthermore, the number of people using online banking is expected to reach approximately 3 billion across the globe in upcoming years. E-commerce sales are anticipated to flourish between $xxx billion - $xxx billion in future foresee. On the other hand, security concerns from fraudsters & hackers can restraint the market growth.
The global internet banking industry is segmented by different service type, banking type and demography. Further the service type segment is subdivided as processing services, payments, customer & channel management as well as risk Management. Likewise, banking type segment is sub-divided in to corporate banking, retail banking & investment banking. Similarly, geographical segment is subdivided to key regions including North America, Asia Pacific, Europe and Rest of the World. However, Europe leads the geographical segment of global internet banking industry which is closely followed by North American region. Among all Asia-Pacific is mounting with the highest CAGR of xx% claiming the maximum internet banking market share across the globe mostly due to its rising population size as well as economy.
Additionally, some of the key players involved in the value chain of global internet banking industry are Microsoft Corporation (US), Fiserv, Inc. (US), ACI Worldwide (US), Tata Consultancy Services (India), Cor Financial Solutions Ltd. (UK), Capital Banking Solutions (US), Edge Verve Systems Limited (India), Rockall Technologies (Ireland, Temenos Group AG (Switzerland) and Oracle Corporation (US).
In a nutshell, internet banking help in maintaining genuine records and aids security to the customers. For instance, recently Citibank introduced a smart chip in place of the magnetic strip on cards, in order to ease the process of operation. On the other hand, MasterCard & Visa card introduced a new method for their customers to enable rapid payments with smartphones. Whereas Google has come up with an internet banking industry gateway called Google Checkout & Google Wallet, which is again an even portal of on-going payment in addition holds a symbol with no complaints as well as errors.
What to expect from the ‘Global Internet Banking Market’ report?
- Future prospects for the growth of the internet banking industry.
- Information on the current and upcoming technologies of this industry
- The government regulations related to the market
- Market trends, opportunities, challenges and restraints that are likely to impact the internet banking market.
- Segmentation of this market based on geographical factors, economic factors, products, service type and banking type.
- In-depth analysis of the major market players prevailing in the industry.