What is Digital transformation in Banking, Financial Services, and Insurance Market Scope?
The face of the banking and financial services industry has changed in the past several years with the emergence of technology and digital-only services. Digital transformation unleashes the power of digital for various sectors, through the means of state-of-the-art financial solutions and technology innovations. These help the customers to stay competitive, increase market penetration, and get the best value for their investments. The robust financial IT and technology transformation solutions for various sectors not only address today’s digital disruptive challenges but also encourage businesses to navigate to digital transformation. There are many investment banking solutions that provide complete visibility of accounts as well as investments with highly advanced and secure payment solutions that too including the implementation of the largest payment gateways and integration with multiple payment processing solutions. The business intelligence and predictive modeling solutions help in managing the stocks and securities. Cybersecurity services protect all sensitive customer data and intellectual property from cybercriminals. Also with the new-age technology and software solutions for banking and financial services through community development, are also focused on social banking needs.
The Digital transformation in Banking, Financial Services, and Insurance market study is being classified by Type (Cloud Computing, Blockchain, Artificial Intelligence, Biometrics, Big Data and Others), by Application (Personal and Business) and major geographies with country level break-up.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Digital transformation in Banking, Financial Services, and Insurance market throughout the predicted period.
IBM Corporation (United States), Microsoft Corporation (United States), Google (United States), SAP (Germany), Oracle Corporation (United States), Coinbase (United States), Fujitsu (Japan), Cross Match Technologies (United States), HID Global (United States) and AlphaSense Inc. (United States) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Digital transformation in Banking, Financial Services, and Insurance market by Type, Application and Region.
On the basis of geography, the market of Digital transformation in Banking, Financial Services, and Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Market Trend
- Demand for Personalized Digital Transformation
- Ease of Access Offered By Blockchain and Online Services during COVID-19
- A Rise in Digitalizing Various Organizational Business Functions
- The Rapid Adoption of Mobile Devices, IoT Solutions, and Cloud Technology
- The Rising Investments In The Process Of Digitalization across Potential Economies
- Security and Privacy Concerns for Confidential Data
- Issues Related To IT Modernization
Key Target AudienceProviders of Digital transformation in Banking, Financial Services, and Insurance, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
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