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Global Digital Banking Platform Market to Reach $31.08 Billion by 2031 as Cloud and Mobile Adoption Accelerate | Industry Trends, Statistics & Growth Forecasts (2026-2031)

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JPM JPMorgan Chase has completed a multi-cloud rollout, indicating successful adoption of cloud technologies to reduce costs and accelerate product development, aligning with market growth trends. SAN Santander's modernization program across 10 markets highlights significant investment in legacy core replacement and digital transformation, positioning it for growth in the digital banking platform market. ITUB Banco Itau's plan for a full cloud migration by 2028 signals a strategic commitment to cloud infrastructure, which is a key driver for digital banking growth and efficiency. ORCL Oracle is mentioned as a company covered in the digital banking platform market analysis, indicating its involvement in the sector without specific positive or negative performance details in the article. FISV Fiserv is listed as a company covered in the digital banking platform market analysis, suggesting its participation in the sector but without specific sentiment drivers from the article. SAP SAP is mentioned as a company covered in the digital banking platform market analysis, indicating its presence in the sector without specific performance commentary. INFY Infosys Finacle is mentioned as a company covered in the digital banking platform market analysis, indicating its role in the sector without specific sentiment. JKHY Jack Henry & Associates is listed as a company covered in the digital banking platform market analysis, indicating its involvement in the sector without specific performance details. ALKT Alkami Technology is mentioned as a company covered in the digital banking platform market analysis, indicating its presence in the sector without specific sentiment drivers. PLD Plaid is mentioned as a company covered in the digital banking platform market analysis, indicating its role in the sector without specific sentiment drivers.

Global Digital Banking Platform Market to Reach $31.08 Billion by 2031 as Cloud and Mobile Adoption Accelerate | Industry Trends, Statistics & Growth Forecasts (2026-2031) Dublin, Aug. 10, 2026 (GLOBE NEWSWIRE) -- The "Digital Banking Platform - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.

The global digital banking platform market was valued at USD 13.79 billion in 2025 and is projected to increase from USD 15.79 billion in 2026 to USD 31.08 billion by 2031. The market is expected to register a compound annual growth rate of 14.52% during the 2026-2031 forecast period, supported by cloud-first modernization, mobile banking growth, open-banking initiatives and artificial intelligence integration.

Tier-1 banks are accelerating multi-cloud core banking migrations to reduce infrastructure costs, strengthen operational resilience and shorten product development cycles. JPMorgan Chase has completed a multi-cloud rollout, while Santander's modernization program across 10 markets highlights the scale of investment being directed toward legacy core replacement. Following migration, banks have reported up to a 50% reduction in time to market for new digital products.

Cloud architectures also support real-time analytics, embedded fraud detection, AI-driven customer insights and more responsive compliance systems. Banco Itau's plan to complete a full cloud migration by 2028 further signals that major financial institutions increasingly view cloud infrastructure as a strategic foundation for digital banking growth.

Mobile Banking Demand Reshapes Emerging Markets

Smartphone-led financial services are transforming banking across Asia-Pacific and Latin America. Digital wallets account for more than 70% of regional e-commerce spending, encouraging banks to develop integrated mobile platforms that combine payments, financial products and merchant services.

The cost advantage of digital channels remains a significant market driver. A mobile transaction costs approximately USD 0.17, compared with USD 4.25 for an in-branch transaction. These savings allow banks to reinvest in customer experience, embedded finance and digital product development. Nubank illustrates the scalability of this model, expanding its customer base from 33.3 million in 2020 to 93.9 million in 2023 while recording a 27% pre-tax return on equity.

Compliance Costs and Vendor Dependency Present Challenges

Rising anti-money laundering and real-time fraud analytics costs may constrain adoption among small and mid-sized financial institutions. Global anti-money laundering expenditure has reached USD 213.9 billion, while banks incurred approximately USD 7 billion in fines during 2023. Advanced compliance platforms can reduce costs by limiting false positives, but implementation requires substantial capital, specialized expertise and continued system integration.

Other factors influencing the digital banking platform market include regulatory requirements for open-banking APIs, generative AI-powered customer experiences and vendor lock-in concerns associated with hyperscaler-managed services.

Digital Banking Platform Market Segment Highlights

Cloud deployment accounted for 60.74% of the digital banking platform market in 2025 and is forecast to grow at a CAGR of 15.54%. Financial institutions report lower infrastructure maintenance costs, improved disaster recovery and greater scalability after moving workloads to cloud environments. On-premises deployments remain relevant in jurisdictions with strict data-localization requirements, although these systems increasingly incorporate containerized and cloud-compatible technologies.

Retail banking generated 63.12% of market revenue in 2025. Corporate and small and medium-sized enterprise banking, however, is expected to be the fastest-growing banking segment, advancing at a CAGR of 16.19%. Demand is being driven by real-time liquidity dashboards, API-enabled payments, embedded trade finance, dynamic foreign-exchange hedging and integration with enterprise resource planning systems.

The report segments the digital banking platform market by:

Regional Digital Banking Platform Market Outlook

Asia-Pacific is projected to record the fastest regional growth, with a CAGR of 16.34%. Smartphone penetration, QR payment infrastructure and supportive digital banking regulations are encouraging both incumbent-bank modernization and digital-only bank launches. China processed USD 7.6 trillion in digital-wallet spending during 2024, while Singapore and Malaysia continue expanding digital banking licenses. Southeast Asia's digital financial services revenue reached USD 33 billion, reinforcing the region's commercial potential.

North America held a 37.35% market share, supported by substantial technology budgets and early cloud adoption. Banks are investing in AI-assisted credit analytics, FedNow integration, open-banking capabilities and core system replacement. Multi-cloud strategies are also gaining attention as regulators and financial institutions assess cloud concentration risk.

Europe continues to benefit from established open-banking frameworks and growing sustainability requirements. PSD2 has expanded standardized API access, while energy-efficient SaaS platforms are gaining importance in procurement decisions. Latin America remains strongly mobile-led, with Brazil's Pix instant-payment system accelerating digital financial activity. Africa offers emerging opportunities as telecommunications-based payment ecosystems create pathways toward broader cloud-native banking services.

Competitive Landscape

Companies covered in the digital banking platform market analysis include Backbase, Temenos, Finastra, Infosys Finacle, Oracle, Fiserv, SAP, Sopra Steria, Tata Consultancy Services, CREALOGIX, Worldline, nCino, Alkami Technology, Mambu, Thought Machine, Finxact, Technisys, Plaid, Intellect Design Arena, Ohpen, Jack Henry & Associates and Avaloq, among others.

The analysis provides market forecasts in USD and evaluates deployment strategies, service models, competitive positioning, regional opportunities and technology trends shaping the global digital banking platform market through 2031. Additional deliverables include an Excel-based market estimate sheet and three months of analyst support.

For more information about this report visit https://www.researchandmarkets.com/r/xijfno

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