As cited by the research report titled ‘North America Digital Banking Market Forecast 2026 By Type, By Service, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America digital banking market is estimated to generate revenues worth over USD 800 billion during 2021-2026.
 

Rapid development of innovative banking technologies has allowed financial institutions to enhance the delivery of their services, which in turn is a major factor driving North America digital banking market growth. Rising adoption of mobile devices by end users for convenient banking transactions is further augmenting the industry dynamics.
 

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In addition, the COVID-19 pandemic has bolstered the development of digital banking with the lockdowns and restrictions prompting banks as well as financial institutions to introduce digital alternatives to their traditional services. Customers have also responded positively to the digital era in banking institutions, thereby boosting the overall industry potential.
 

Based on type, the report cites that the retail banking solutions segment is likely to witness strong growth over the projected timeframe. With people searching for convenient ways to get their banking transactions done, many traditional banks are now focusing on incorporating innovative digital mediums into their daily operations to retain their customer base, thereby contributing to the segmental growth.
 

Meanwhile, investment banking segment is expected to expand at 7% CAGR over the study duration. Increasing adoption of advanced technologies for delivering premium services and for understanding customer behavior patterns while making investment decisions is favoring the overall industry dynamics in North America.
 

Speaking of services, transactional services segment is anticipated to grow substantially over the forecast duration. With customers demanding easier ways for banking transactions, the financial institutions are deploying innovative technologies to cater these growing needs, thus propelling the segmental growth.
 

On the geographical front, Canada digital banking market is expected to grow significantly over the assessment period, primarily driven by introduction of advanced banking technologies for enhancing the financial performance of the country. Moreover, many finance companies are creating digital platforms to reach out to their customers and receive direct feedback about the quality of their services.
 

Major players profiled in North America digital banking industry are Temenos AG, Technisys Inc., Tata Consultancy Service (TCS) Limited, SAP SE, Oracle Corporation, Kony Inc., Intellect Design Arena Ltd, Infosys Limited, Finastra Limited, ebankIT Omnichannel Innovation SA, Bank of New York Mellon Corporation, and Appway AG.