Juniper Research: More than half of the world’s population will use digital banking services in 2026; Driven by digital banking transformation


BASINGSTOKE, England – (COMMERCIAL THREAD)–A new Juniper research a study found that 53% of the world’s population will access digital banking services by 2026; reaching over 4.2 billion digital banking users, up from 2.5 billion in 2021. Research has identified increased digital transformation efforts as enabling banks to operate efficiently during the pandemic; justify the advantages of digital banking and promote growth in the number of users.

The new research, Digital banking: banking as a service, market transformation and forecast 2021-2026, identified that China will be the largest digital banking market in the next 5 years; accounting for nearly 25% of digital banking users in 2026. Research recommends that banks better integrate their many offerings into a single, cohesive digital experience, to better compete with diverse competition.

For more information, download the free white paper: Why banking as a service drives banking innovation

Top Banks Ranked in Juniper Research’s 2021 Digital Transformation Readiness Index

Juniper Research’s Banking sector digital transformation readiness index analyzed 30 leading tier 1 banks on their innovation in terms of digital functionalities, investment and innovation, as well as their agility in terms of size, profitability and brand strength, in order to assess their readiness for digital transformation and highlight their respective positioning.

He identified the first group of banks for digital transformation:

  1. Bank of America

  2. HSBC

  3. JPMorgan Chase

  4. BBVA

  5. DBS Bank

Bank of America offers an ever-expanding digital platform, including chatbot Erica, and has seen significant increases in digital usage and engagement during the pandemic. JPMorgan Chase has experimented with blockchain and made acquisitions, such as that of wealth manager Nutmeg in the UK to strengthen its offerings. HSBC has launched new innovative solutions, such as HSBC Kinetic for small businesses in the UK, with the launch of initiatives by BBVA including cryptocurrency trading. and DBS Bank having high levels of digital engagement.

Research co-author Damla Sat noted: “These banks have advanced through well-planned and executed digital transformation strategies, and other banks must develop equally broad and groundbreaking roadmaps, or be left behind by more agile competitors.”

Digital banking market research:

Download the white paper:

Juniper Research provides research and analysis services to the global high-tech communications industry; providing advice, analyst reports and industry commentary.

Leave A Reply

Your email address will not be published.