The Italy digital banking market is estimated to grow at a significant growth rate of 7.0% over the forecast period to hit over $760 million in 2025 from nearly $500 million in 2018. Italy is considered as the potential market for digital banking. The major factors contributing to the growth of the market include available infrastructure for digital services coupled with the digital transformation of financial services. The banking sector is among the primary strong points of the Italian economy. The profitability of banking in Italy has been improving and according to the European Banking Federation, in 2018, the Return of equity (ROE), net of extraordinary components, increased to around 6% from 4.1% in 2017. The overall improvement is mostly attributed to fewer loan loss provisions and a 3.9% reduction in operating costs.
The Italy digital banking market is segmented on the basis of type and solution. Based on type, the market is classified into corporate banking, investment banking, and retail banking. Retail banking held the largest share in 2018 and is expected to maintain its dominance during the forecast period. Retail banking involves a wide range of services, including saving accounts, personal loans, mortgages, certificates of deposit (CDs) and investment and fund management. Rising demand for internet banking among individuals to manage their accounts and conduct financial transactions is primarily contributing to the growth of the segment. Based on solution, the market is classified into processing services, payment solutions, customer and channel management, and risk management.
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Italy Digital Banking Market Segmentation
By Type
- Corporate Banking
- Investment Banking
- Retail Banking
By Solution
- Processing Services
- Payment
- Customer and Channel Management
- Risk Management
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Company Profiles
- ACI Worldwide, Inc.,
- Appway AG
- Atos SE
- Backbase BV
- Capital Banking Solutions
- CERALOGIX AB
- Computer Services, Inc.
- Cor Financial Solutions Ltd.
- EBANKIT-OMNICHANNEL INNOVATION, S.A.
- Etronika UAB
- Fidor Solutions AG
- Finastra
- Fiserv, Inc.
- Halcom d.d.
- Intellect Design Arena Ltd.
- Microsoft Corp.
- NCR Corp.
- NETinfo PLC
- NETinfo PLC
- New Frontier Innova d.o.o Beograd
- Oracle Corp.
- SAB Group
- SAP SE
- Sopra Steria Group
- Tata Consultancy Services Ltd.
- Technisys SA
- Temenos SA
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