Mobile Banking Market Size, Share, Research Analysis, Growth Factors, Sales Revenue, Key Players, Opportunity Assessment and Regional Forecast 2023

Market Research Future published a research report on “Global Mobile Banking Market Research Report - Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario:

Mobile banking is an online system provided on mobile phones where customers are offered by banking services. With internet becoming the latest trend for the technology users, mobile banking has become the most popular technology for the users. The customers no long need to visit banks for undergoing banking transaction. Mobile banking gives customers an opportunity to bank from anywhere around the world at any time.

The banking industry in the market is adopting new challenges and initiatives in order to drive customer expectation and satisfaction. The customers are quickly implementing new banking apps introduced by banks in order to make use of the new technology introduced. This has been one of the driving factors behind the growth of Mobile Banking Market. Smartphone applications are changing the method of banking services implemented by the customers which is also one of the driving factors for growth in mobile banking market. The advantage of using mobile banking is that it is more secured and risk free than online or internet banking. The only drawback of using mobile banking is that regular use of mobile banking can apply extra charges from the banks for offering the services.

Mobile banking market is segmented on the basis of solution, technology and deployment. The solution segment consists of customer management, mobile banking features, mobile payment features and mobile trading features. By solution segment, mobile banking features include balance enquiry, recent transactions information, fund transfer, transfer of money using email address or mobile number and alert services. By giving a missed call from the registered mobile number to the bank’s official number gives the customer details about the account balance. These services fulfill the customer expectation and satisfaction which has led to increase in demand for mobile banking in the market.

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Industry News:

In January 2019, N26, a mobile banking startup, has raised USD 300 Mn in funding led by Insight Venture Partners and participated by Singaporean sovereign wealth fund GIC and other existing investors.
In January 2019, Keystone Bank Limited, a commercial bank in Nigeria, has introduced a new app - ‘Keystone Bank Mobile App,’ which lets the customers use mobile banking services on their phones without data.

Key Players

The prominent players in the mobile banking market are – Temenos Group AG (Switzerland), Nymbus Inc. (U.S.), Neptune Software PLC (U.K.), Strands Inc. (U.S.), Capital Banking Solutions (U.S.), Dais Software Company (Bulgaria), Ebanq B.V (Netherlands), Apex Software Ltd. (Kenya), Fisa System (U.S.), among others.

Market Segmentation:

• By Solution, the mobile banking market has been segmented into customer management, mobile banking features, mobile payment features, mobile trading features, and others.
• By Technology, the global mobile banking market has been segmented into wireless application protocol, standalone mobile application.
• By Deployment, the mobile banking market has been segmented into on-cloud, on-premise.

Regional Analysis:

The global mobile banking market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America’s banking industry signifies advanced tech-driven changes. The presence of an established IT industry in the region is expected to boost the growth trajectory of the mobile banking market in the region. Robust marketing practices are leveraged for the promotion of lucrative schemes. These investments are expected to complement the expansion of the market in the foreseeable future.

Europe is also an important revenue pocket placed at the second spot in the global mobile banking market. It is projected to emerge as the fastest growing regional market owing to the presence of technologically advanced banking industry. The consolidation of developed country-level markets such as Germany, the U.K., France, etc. is anticipated to favor the proliferation of the mobile banking market across the review period.

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Intended Audience:

• Banks
• Government organizations
• Mobile network operators
• Retail network operators
• Security service providers
• Payment service providers
• Regulators
• Research organizations
• Technology end users

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Contact Info:
Name: Abhishek Sawant
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Organization: Market Research Future
Website: https://www.marketresearchfuture.com

Release ID: 518400