Asia Pacific Digital Banking Market: 2020 Insights, Status, Latest Amendments and Outlook to 2026
Market
Insights:
The Asia Pacific Digital Banking Market research is the compilation of all
the key drivers, opportunities, restraints, and challenges that directly influence
the market. The report is beneficial to
the readers since it helps them to understand the current market scenario
including trends. The report impactful factors are described with details to
help business owners, distributors, suppliers, and more in planning their
future activities carefully and gain significant profits in the coming years.
The Asia Pacific digital banking market growth has been
accentuated by the increasing trend of online shopping in the region. As
internet and mobile payments across APAC have become seamless and easier for
consumers, their need to shop online has increased. For instance, the number of
online shoppers in China increased exponentially from around 34 million in 2006
to over 610 million users in 2018. This ever-growing ecommerce market is
driving the digital banking market growth.
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Ramped up e-commerce initiatives during the COVID-19
pandemic are helping small businesses keep revenue flowing during an uncertain
time, promoting the use of digital banking channels. A similar initiative was
taken by Hong Kong, where the Hong Kong Monetary Authority (HKMA) swiftly
approved and issued digital banking licenses to a range of incumbent banks as
well as a selection of disruptive fintech players.
The transactional services segment accounted for over 90%
market share in the APAC digital banking market in 2019. Demographics across
the region are shifting toward digital payment methodologies. As the younger
generation (aged between 16 and 34) is heavily influenced by technology, their
buying habits & expectations are being formed through the immediacy that
smartphones, the Internet, and modern conveniences engender. Businesses and
consumers are interested in faster, safer, and more convenient digital payment
methods.
Leading banks in the APAC digital banking landscape are
looking at alternative approaches to enlarge their footprint. In Indonesia,
innovative banks have developed traveling branches that travel to customers in
remote locations. Some banks are partnering with third parties to expand their
digital distribution reach. For instance, Malaysia’s CIMB has teamed up with
convenience store retailers in Indonesia to offer Asia Pacific Digital Banking
Market.
Some of the key vendors in the APAC market include Appway
AG, Bank of New York Mellon Corporation, CREALOGIX AG, ebankIT, Etronika, Fidor
Solutions AG, Finastra, Halcom.com, ieDigital, Infosys Limited, Intellect
Design Arena Limited, Kony, NETinfo Plc, NF Innova, Oracle Corporation, SAB,
SAP SE, Sopra Steria, Tata Consultancy Services Limited, Technisys S.A.,
Temenos AG, and Worldline.
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Chapter 1 Methodology & Scope
1.1 Research methodology
1.2 List of data sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Asia Pacific
Digital Banking Market Snapshot
2.1 Asia Pacific digital banking industry
snapshot
Chapter 3 Asia Pacific
Digital Banking Market Trends
3.1 Industry coverage
3.2 Industry size, 2015 – 2026
3.3 Impact of COVID-19 pandemic
3.4 Value chain analysis
3.4.1 Company product snapshot
3.5 Innovation landscape
3.6 Regulatory norms & directives
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