Market Research Future (MRFR) report on the global mobile banking market (2017-2023) offers an in-depth study of the industry-and economy-wide database for the business management that could potentially give growth and profitability to players in this market. This is the latest report documenting the current effect of COVID-19 on the market.
Mobile banking is an online mobile phone system where customers are provided with banking services. As the Internet has become the latest trend for technology users, mobile banking has become the most common technology for customers. Customers don't need to visit banks for transactions. Mobile banking offers customers the opportunity to bank from anywhere in the world at any time.
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The prominent participants identified by MRFR 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.
The banking industry in the market is taking on new challenges and initiatives to drive customer expectations and satisfaction. Customers are rapidly adopting new banking applications launched by banks to allow the use of the latest technologies implemented. This has been one of the primary drivers behind the mobile banking market growth. Smartphone apps are changing the banking services which is also one of the driving forces for growth in the mobile banking industry. The benefit of using mobile banking is that it is safer and more risk-free than online or internet banking. The only downside to using mobile banking is that mobile banking's daily use may be subject to extra charges on the part of banks for providing services.
The global market for mobile banking has been segmented based on solution, technology, and deployment.
On basis of the solution, the global market for mobile banking has been segmented into customer management, mobile banking features, mobile payment features, mobile trading features, and others. Mobile banking features include balance inquiry, recent transaction information, transfer of funds, transfer of money via the email address or mobile number, and alert services. By giving a missed call from the registered mobile number to the bank's official number, the customer is given details of the account's balance. These services meet the customer's needs and satisfaction, which has contributed to a rise in demand for mobile banking on the market.
On basis of technology, the global market for mobile banking has been segmented into wireless application protocol (WAP) and standalone mobile application
On basis of deployment, the global market for mobile banking has been segmented into On-cloud and On-premise.
The regional analysis of mobile banking market is being studied for regions such as Asia Pacific, North America, Europe, and the Rest of the World.
North America is expected to gain the largest market share due to increased demand for mobile banking through smartphones, where customers use mobile channels to connect with banks rather than visiting banks.
Europe is projected to be the fastest-growing market due to faster banking transactions and mobile payments, which have contributed to a rise in the number of mobile banking transactions used by Europeans.
The Asia Pacific is expected to rise at the highest CAGR in the forecast period. Growth is driven by increased use of digital banking platforms and strong economic growth in the country.
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TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH TYPE
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST DEPLOYMENTL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
3 MARKET DYNAMICS
7 COMPETITIVE ANALYSIS
7.1 MARKET SHARE ANALYSIS
7.2 COMPANY PROFILES
7.2.1 TEMENOS GROUP AG, (SWITZERLAND)
7.2.2 NYMBUS INC. (U.S.)
7.2.3 NEPTUNE SOFTWARE PLC (U.K.)
7.2.4 STRANDS INC. (U.S.)
7.2.5 CAPITAL BANKING SOLUTIONS (U.S.)
7.2.6 DAIS SOFTWARE COMPANY (BULGARIA)
7.2.7 EBANQ B.V (NETHERLANDS)
7.2.8 APEX SOFTWARES LTD. (KENYA)
7.2.9 FISA SYSTEM (U.S.)
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