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Future Of Banking And Digital Payments In 2024

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There is no denying the fact that the banking industry has undergone a significant evolution over the last decade. Thanks to shifting consumer expectations and technological advancements, the focus today is more on leveraging the best payment processor for exploring the best of banking and digital payments. Past & Present Of Banking and Digital Payments In 2022, the global core banking software market was estimated to be worth approximately US$12.51 billion. Furthermore, the total transaction value in the segment of digital payments market is expected to cross US$9.46 trillion in 2023 and US$12.78 trillion by 2027. Since COVID-19, there has been a massive spur in terms of financial inclusion. This unprecedented growth helped in building resilience at multiple touchpoints, narrowing the account ownership gaps, and creating new (or previously hidden/unexplored) economic and growth opportunities. For instance, worldwide account ownership has now reached 71 percent of people li...