The global online banking market is set to experience substantial growth, with a predicted compound annual growth rate (CAGR) of 12.67% from 2022-2028. The growth is driven by the digital revolution and the integration of technology into the banking sector. The competitive landscape is intense, with traditional banks, fintech startups, and tech giants all vying for market share. Despite the challenges of cybersecurity, financial institutions are using advanced technology to prevent fraud and manage risks. Europe plays a pivotal role in the online banking market, with its unified regulatory framework and growing fintech sector. The report also highlights the emergence of neo-banks and the importance of sustainability in online banking services. The report provides actionable insights for industry stakeholders and decision-makers, offering a strategic vision for the future of digital financial services.
Key points:
- The global online banking market is predicted to experience a compound annual growth rate (CAGR) of 12.67% from 2022-2028.
- The digital revolution and integration of technology into the banking sector are driving the growth of the market.
- Cybersecurity remains a challenge, but financial institutions are using advanced technology to prevent fraud and manage risks.
- Europe plays a pivotal role in the online banking market, with its unified regulatory framework and growing fintech sector.
- The report highlights the emergence of neo-banks and the importance of sustainability in online banking services.
