Seize the day to try yourself in online banking. Still, FinTech always welcomes ambitious newcomers with innovative ideas. Study shows that over 75% of baby boomers and 90% of Gen Xers claimed that they see benefits of such services.Ĭapital Banking Solution, CGI, ACI Worldwide, Microsoft, Oracle, and other corporate giants have undoubtedly influenced the banking app development market. While thinking of how to make a banking app strategy, take into account that not only the youngest generations prefer mobile banking. On top of that, a whopping 97% of millennials stated they utilize such services. Insider Intelligence’s Study reveals that 89% of respondents use mobile banking platforms. Needless to say that the COVID-19 pandemic impacted the market: 54% of people prefer to pay contactless.Īs you can see, mobile banking application development popularity is based on its high user demand. The US mobile payments will approach over 189 billion US dollars by the end of the year, says Statista. What’s more, seven billion consumers are about to enter the mobile digital landscape by the end of 2021, with three billion of them entering mobile banking. So, ambitions among banking app development are raging, making business owners passionate about the evolution of the online banking sphere. Online banking apps statistics claim that in 2021 online mobile app market will make revenue up to 693 billion US dollars. The report claims these numbers almost triple, hitting $31.81 billion by 2027 at a CAGR of 13.6%. Analysts explain this boom by continuous strong smartphone experience incorporation into consumer life, COVID-19 outbreak, and quarantine measures.Īs Allied Market Research states, in 2019, the online banking app market revenue reached $11.43 billion. The banking mobile app development niche appears among the top-rated modern market segments. Win the Race with Your Custom Mobile Banking Application Why You Should Go for Mobile Banking Application Development
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