The Singaporean Neobanking Market Report is Segmented by Account Type (Business Account and Savings Account), by Services (Mobile-Banking, Payments and Money Transfers, Savings, Loans, and Other Services), and by Application Type (Personal, Enterprises, and Other Application Types). The Report Offers Market Size and Forecasts for the Singapore Neobanking Market in Terms of Revenue (USD) for all the Above Segments.

Singapore Banking System: SFT Activities data was reported at 2.616 % in Sep 2018. This records a decrease from the previous number of 2.793 % for Aug 2018. Singapore Banking System: SFT Activities data is updated monthly, averaging 2.306 % from Jan 2016 (Median) to Sep 2018, with 33 observations. The data reached an all-time high of 2.915 % in Jun 2018 and a record low of 1.653 % in Mar 2016. Singapore Banking System: SFT Activities data remains active status in CEIC and is reported by Monetary Authority of Singapore. The data is categorized under Global Database’s Singapore – Table SG.KB026: Financial Stability Review: Singapore Financial Sector. Box G: An Overview of the Securities Financing Market in Singapore. Banking System SFT Activities as a Proportion of Total Banking System Assets.

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Open Banking Market Size 2024-2028

The open banking market size is forecast to increase by USD 57.66 billion at a CAGR of 27.2% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for advanced Financial Management Tools that offer real-time access to Financial Data from multiple Financial Institutions. Open Banking Solutions, which utilize Open Banking APIs, enable automated savings, real-time transactions, and enhanced security features. The integration of Artificial Intelligence (AI) into these services further streamlines financial management and enhances personalized customer experiences. However, the handling of sensitive personal financial data necessitates strict adherence to guidelines and regulations to ensure data security and privacy. Key market trends include the growing preference for faster and more seamless payment processing, increased focus on data security, and the potential for increased competition among Financial Institutions as they adapt to the Open Banking landscape.

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Open banking, a financial services model that enables third-party providers to access customers' financial data through APIs, is revolutionizing the payment ecosystem. This innovative approach allows for more customer-centric services, personalized financial offerings, and informed financial decisions. Broadband connectivity plays a crucial role in the open banking landscape, ensuring seamless access to real-time data for machine learning algorithms and AI applications. These technologies are integral to the open banking model, as they enable advanced data analytics and the development of innovative financial services. Security is a top priority in the market. Financial institutions are investing heavily in advanced security measures to protect sensitive customer data from online fraud. AI and machine learning algorithms are being employed to detect and prevent fraudulent activities in real-time. E-commerce and open banking are natural partners, with the former benefiting from the real-time financial data access provided by the latter.

Further, open banking APIs are the backbone of this new financial services model, allowing for seamless integration between financial institutions and third-party service providers. These APIs enable the sharing of financial data in a secure and standardized manner, facilitating the development of innovative financial services. Personalized financial services are a key benefit of open banking. By leveraging big data analytics and AI, financial institutions can offer customized offerings tailored to individual customers' financial needs and preferences. In conclusion, open banking is transforming the payment ecosystem by enabling real-time data access, advanced data analytics, and the development of innovative financial services. With a focus on security and customer-centricity, this model is poised to disrupt traditional financial services and reshape the industry landscape.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Service

  Banking and capital markets
  Payments
  Digital currencies


Deployment

  On premise
  Cloud


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Service Insights

The banking and capital markets segment is estimated to witness significant growth during the forecast period. The market is revolutionizing the banking and financial services sector in the global payment ecosystem. Through strategic collaborations and innovative service offerings, Open Banking is enhancing payment processes, expanding investment accessibility, and promoting financial inclusion. In June 2024, Euronet, a leading financial technology and payments provider, partnered with Fintech Galaxy to introduce a new Banking as a Service (BaaS) offering. This collaboration aims to deliver faster, more secure, and cost-effective account-based transactions for banks, fintechs, and merchants. Key features of this service include card as a service, real-time payment processing, and advanced fraud detection. By integrating with consumer bank accounts, this solution reduces transaction costs and promotes financial inclusion, while also driving the adoption of digital transactions in the European region.

The integration of Artificial Intelligence (AI) and Machine Learning (ML) in Open Banking is further fueling the growth of the market. Big data analytics is enabling financial institutions to gain valuable insights into customer behavior and preferences, leading to personalized services and improved customer experience. The use of Open Banking is exp

Techsalerator offers an extensive dataset of End-of-Day Pricing Data for all 640 companies listed on the Singapore Exchange* (XSES) in Singapore. This dataset includes the closing prices of equities (stocks), bonds, and indices at the end of each trading session. End-of-day prices are vital pieces of market data that are widely used by investors, traders, and financial institutions to monitor the performance and value of these assets over time.

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Top 5 used data fields in the End-of-Day Pricing Dataset for Singapore:

1. Equity Closing Price :The closing price of individual company stocks at the end of the trading day.This field provides insights into the final price at which market participants were willing to buy or sell shares of a specific company.

2. Bond Closing Price: The closing price of various fixed-income securities, including government bonds, corporate bonds, and municipal bonds. Bond investors use this field to assess the current market value of their bond holdings.

3. Index Closing Price: The closing value of market indices, such as the Botswana stock market index, at the end of the trading day. These indices track the overall market performance and direction.

4. Equity Ticker Symbol: The unique symbol used to identify individual company stocks. Ticker symbols facilitate efficient trading and data retrieval.

5. Date of Closing Price: The specific trading day for which the closing price is provided. This date is essential for historical analysis and trend monitoring.

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Top 5 financial instruments with End-of-Day Pricing Data in Singapore:

Straits Times Index (STI): The main index that tracks the performance of companies listed on the Singapore Exchange (SGX). The STI provides a comprehensive view of the overall market performance in Singapore.

Company A: A prominent Singaporean company in sectors such as finance, real estate, or technology. This company's stock is among the most actively traded on the SGX and influences market trends.

Company B: A major Singaporean bank or financial institution offering a wide range of financial services. This company's stock is significant in the financial sector and reflects the economic landscape of Singapore.

Singapore Telecommunications Limited (Singtel): A leading telecommunications company in Singapore with international operations. The stock of Singtel is actively traded and has an impact on the communication sector.

Keppel Corporation Limited: A conglomerate in Singapore with interests in various sectors such as offshore and marine, real estate, and infrastructure. The stock of Keppel Corporation is a key player in the Singaporean market.

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If you're interested in accessing Techsalerator's End-of-Day Pricing Data for Singapore, please contact info@techsalerator.com with your specific requirements. Techsalerator will provide you with a customized quote based on the number of data fields and records you need. The dataset can be delivered within 24 hours, and ongoing access options can be discussed if needed.

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Data fields included:

Equity Ticker Symbol Equity Closing Price Bond Ticker Symbol Bond Closing Price Index Ticker Symbol Index Closing Price Date of Closing Price Equity Name Equity Volume Equity High Price Equity Low Price Equity Open Price Bond Name Bond Coupon Rate Bond Maturity Index Name Index Change Index Percent Change Exchange Currency Total Market Capitalization Dividend Yield Price-to-Earnings Ratio (P/E) ‍

Q&A:

1. How much does the End-of-Day Pricing Data cost in Singapore ?

The cost of this dataset may vary depending on factors such as the number of data fields, the frequency of updates, and the total records count. For precise pricing details, it is recommended to directly consult with a Techsalerator Data specialist.

1. How complete is the End-of-Day Pricing Data coverage in Singapore?

Techsalerator provides comprehensive coverage of End-of-Day Pricing Data for various financial instruments, including equities, bonds, and indices. Thedataset encompasses major companies and securities traded on Singapore exchanges.

1. How does Techsalerator collect this data?

Techsalerator collects End-of-Day Pricing Data from reliable sources, including stock exchanges, financial news outlets, and other market data providers. Data is carefully curated to ensure accuracy and reliability.

1. Can I select specific financial instruments or multiple countries with Techsalerator's End-of-Day Pricing Data?

Techsalerator offers the flexibility to select specific financial instruments, such as equities, bonds, or indices, depending on your needs. While the dataset focuses on Botswana, Techsalerator also provides data for other countries and international markets.

1. How do I pay for this dataset?

Techsalerator accepts various payment methods, including credit cards, direct transfers, ACH, and wir...

Singapore FAST Payments Market Outlook

According to our latest research, the global FAST (Fast And Secure Transfers) Payments market size has reached USD 62.5 billion in 2024, with an impressive CAGR of 17.8% from 2025 to 2033. The market is forecasted to reach USD 288.3 billion by 2033, driven by the rapid adoption of digital payment solutions, government initiatives supporting real-time payments, and a surge in consumer demand for seamless, instant financial transactions. As per our in-depth analysis, the Singapore FAST Payments market is a significant contributor to this global growth, reflecting the nation’s advanced digital infrastructure and progressive regulatory environment.

The primary growth factor for the Singapore FAST Payments market is the increasing consumer and merchant preference for real-time payment solutions. The proliferation of smartphones and mobile internet, coupled with a tech-savvy population, has accelerated the adoption of FAST payments across various sectors. Singapore’s government has played a pivotal role by fostering an open banking ecosystem and encouraging interoperability among financial institutions, which has further streamlined the adoption of FAST payments. Moreover, the COVID-19 pandemic has acted as a catalyst, pushing both businesses and consumers towards contactless and instant payment options, thereby embedding FAST payments as a default mode of transaction in daily life.

Another significant driver for the Singapore FAST Payments market is the robust collaboration between banks, fintech companies, and regulatory authorities. The Monetary Authority of Singapore (MAS) has been instrumental in creating a conducive environment for innovation, launching initiatives such as the PayNow system, which allows seamless fund transfers using mobile numbers or NRIC numbers. This collaborative approach has not only enhanced interoperability but has also reduced transaction friction, making FAST payments accessible to a broader demographic, including small and medium enterprises (SMEs) and underbanked segments. The integration with regional payment networks has also positioned Singapore as a payment hub in Southeast Asia, attracting cross-border business opportunities.

Furthermore, the evolution of the e-commerce and retail landscape in Singapore has significantly contributed to the growth of the FAST Payments market. As businesses increasingly shift towards digital channels, the demand for efficient, secure, and instant payment solutions has surged. Merchants are leveraging FAST payment systems to provide better customer experiences, reduce cart abandonment rates, and streamline backend reconciliation processes. Additionally, the rise in gig economy platforms and on-demand services has intensified the need for real-time disbursements, further solidifying the relevance of FAST payments in Singapore’s digital economy.

Regionally, Singapore’s strategic location and its status as a global financial center have amplified the growth prospects of the FAST Payments market. The city-state’s advanced digital infrastructure, high internet penetration, and proactive regulatory framework have created a fertile ground for innovation in payment technologies. Moreover, Singapore’s role as a regional hub has facilitated the integration of FAST payment systems with neighboring countries, promoting cross-border payment flows and reinforcing its position as a leader in the adoption of real-time payment solutions in Asia-Pacific.

Component Analysis

The Singapore FAST Payments market is segmented by component into Software, Hardware, and Services. The software segment dominates the market, primarily due to the increasing adoption of advanced payment processing platforms and APIs that enable seamless integration with existing banking and merchant systems. These platforms are designed to handle high transaction volumes with minimal latency, ensuring that payments are processed in real-time, which is critical for both consumers and businesses. The continuous innova

Singapore’s retail banking sector has seen steady growth year on year, but the impact of COVID-19 has caused uncertainty in the market. In light of the pandemic, Singapore’s GDP is expected to fall to -6.07% in 2020 but is forecast to improve in 2021, suggesting signs of economic recovery. A significant increase in unemployment will occur in 2020, while corporate bankruptcies are likely to increase in the coming months according to the country's financial regulator and central bank, the Monetary Authority of Singapore. Although circuit breaker lockdown restrictions have eased and businesses have reopened, it is inevitable that it will take some time for them to reach pre-pandemic normality. Read More

Open Banking Directory Services Market Outlook

According to our latest research, the global Open Banking Directory Services market size reached USD 1.42 billion in 2024, with a robust compound annual growth rate (CAGR) of 22.7% projected through the forecast period. By 2033, the market is expected to attain a value of USD 10.98 billion, driven by the accelerating adoption of open banking standards, regulatory mandates, and the need for secure, efficient data exchange across financial ecosystems. The surge in API usage, growing fintech innovation, and increasing collaboration between traditional banks and third-party providers (TPPs) are among the primary factors fueling this growth, as per the latest industry analysis.

One of the most significant growth factors for the Open Banking Directory Services market is the global wave of regulatory initiatives mandating open banking frameworks. Regulations such as the European Union’s PSD2, the UK’s Open Banking Standard, and similar mandates in Australia, Singapore, and other regions have compelled financial institutions to open their data to licensed third-party providers. This regulatory push has created a pressing demand for robust directory services that can securely authenticate, authorize, and manage the complex web of participants in the open banking ecosystem. Directory services play a pivotal role in ensuring compliance by maintaining up-to-date registries of all authorized entities, thereby reducing fraud risks and facilitating seamless interoperability between banks, fintechs, and payment service providers. As regulatory landscapes continue to evolve, the need for agile, scalable directory solutions that can adapt to new compliance requirements is expected to further propel market expansion.

The rapid digital transformation of the financial sector is another key driver of growth in the Open Banking Directory Services market. As banks and financial institutions embrace digital-first strategies, the integration of APIs and data-sharing platforms has become essential for delivering innovative customer experiences and unlocking new revenue streams. Directory services provide the foundational infrastructure for secure API management, enabling real-time verification of participant identities and authorization statuses. This underpins a wide array of open banking applications, from account aggregation and payment initiation to personalized financial management tools. The growing ecosystem of fintech startups and technology providers is fostering a culture of collaboration and co-innovation, with directory services acting as the trusted gateway for secure data exchange. The scalability and flexibility of modern directory platforms are particularly attractive to organizations seeking to future-proof their open banking initiatives in a rapidly changing digital landscape.

Another crucial factor contributing to market growth is the heightened focus on cybersecurity and trust in open banking environments. As financial data becomes more accessible, the risk of cyber threats and data breaches escalates, prompting banks and TPPs to invest heavily in robust identity and access management solutions. Open Banking Directory Services not only facilitate secure onboarding and lifecycle management of ecosystem participants but also provide real-time monitoring and threat detection capabilities. Advanced directory solutions are increasingly leveraging artificial intelligence and machine learning to detect anomalous behavior, prevent unauthorized access, and ensure regulatory compliance. This focus on security and trust is a major differentiator in the market, as organizations prioritize solutions that offer comprehensive risk mitigation alongside seamless interoperability.

From a regional perspective, Europe remains the frontrunner in the adoption and implementation of Open Banking Directory Services, driven by early regulatory initiatives and a mature fintech landscape. However, Asia Pacific is emerging as the fastest-growing region, propelled by rapid digitalization, supportive government policies, and a burgeoning population of digitally-savvy consumers. North America is also witnessing significant growth, fueled by increasing investments in open banking infrastructure and the entry of major technology players. Meanwhile, Latin America and the Middle East & Africa are gradually catching up, with local governments and financial institutions laying the groundwork for open banking ecosystems. The interplay of regula

The Singapore Fintech market, valued at $38.80 million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 10.24% from 2025 to 2033. This expansion is fueled by several key factors. The increasing adoption of digital payment solutions amongst consumers and businesses, coupled with the government's supportive regulatory framework and initiatives promoting innovation, are significant catalysts. Furthermore, the rise of e-commerce and the growing need for efficient financial solutions in sectors like income tax returns and securities trading are creating lucrative opportunities within the market. The diverse range of services offered, encompassing money transfers, digital lending, investment platforms, and online insurance, further contributes to the market's dynamism. Competition is fierce, with a range of established players and innovative startups vying for market share. While challenges like cybersecurity concerns and regulatory compliance remain, the overall outlook for the Singapore Fintech market remains highly positive. The market segmentation highlights the significant contribution of several key areas. The Money Transfer and Payments segment likely leads, reflecting Singapore's strategic position as a global financial hub. Digital Lending & Lending Investments is also a significant contributor, benefiting from technological advancements and increased demand for accessible credit. Growth in the Online Insurance & Insurance Marketplaces segment is expected, driven by the increasing adoption of digital insurance platforms. The End-User segment reveals the diverse applications of Fintech, with Banking and E-commerce representing the largest segments, alongside the emerging demand in areas such as Income Tax Returns and Securities. The strong performance of key players like Funding Societies, MatchMove Pay, and Singlife underscores the market's vibrancy and the potential for further consolidation and innovation. The forecast period (2025-2033) promises continued expansion, influenced by ongoing technological advancements and evolving consumer preferences. Recent developments include: In September 2023, BitDATA Exchange partnered with MatchMove, a leading embedded finance enabler, to introduce a next-generation solution that transforms the way businesses manage their digital assets., In July 2023, MatchMove and Stripe collaborated to provide seamless payments for partners and merchants on the MatchMove-owned Shopmatic platform. MatchMove has integrated Stripe payments. MatchMove enables companies to offer a fully branded secure mobile wallet solution., November 2022: The United Kingdom and Singapore have agreed a new MoU boosting fintech trade and cooperation at their 7th Financial Dialogue in Singapore. Notable trends are: Blockchain Driving Singapore Fintech Market.

Mobile SDK Governance for Banking Market Outlook

According to our latest research, the global Mobile SDK Governance for Banking market size reached USD 1.28 billion in 2024, reflecting a robust demand for secure and compliant mobile banking solutions. The market is anticipated to expand at a CAGR of 15.4% over the forecast period, with the total valuation expected to hit USD 4.32 billion by 2033. This significant growth is primarily driven by the increasing adoption of mobile banking applications, stringent regulatory requirements, and the rising need for advanced risk and security management tools within the banking sector.

One of the primary growth factors for the Mobile SDK Governance for Banking market is the rapidly evolving threat landscape in digital banking. As banks continue to digitize their services and offer more features through mobile applications, the risk of cyberattacks, data breaches, and fraudulent activities has surged. This has compelled banking institutions to invest heavily in robust SDK governance solutions that can provide real-time monitoring, automated policy enforcement, and comprehensive risk mitigation. The integration of AI and machine learning into SDK governance tools further enhances their capability to detect anomalous behaviors and potential threats, thereby safeguarding sensitive customer data and maintaining trust in digital banking platforms.

Another crucial driver is the increasingly complex regulatory environment governing the banking industry. Regulatory bodies across the globe, such as the European Banking Authority (EBA), the U.S. Office of the Comptroller of the Currency (OCC), and the Reserve Bank of India (RBI), have introduced stringent guidelines for data privacy, risk management, and compliance. These regulations necessitate continuous monitoring and auditing of mobile banking apps, making Mobile SDK Governance solutions indispensable. Banks are now leveraging these tools to automate compliance reporting, ensure adherence to regional and international standards, and avoid hefty penalties associated with non-compliance. This regulatory push, combined with the growing consumer demand for transparency and security, is fostering the widespread adoption of SDK governance platforms.

Additionally, the proliferation of mobile devices and the surge in digital-first banking strategies are accelerating the demand for SDK governance in banking. As financial institutions strive to deliver seamless and personalized customer experiences through mobile channels, they are increasingly relying on third-party SDKs for functionalities such as payments, analytics, and authentication. However, the use of external SDKs introduces new vulnerabilities and operational risks. To address these challenges, banks are implementing comprehensive SDK governance frameworks that enable them to monitor SDK performance, manage third-party risks, and ensure optimal application performance. The emphasis on customer-centric innovation, coupled with the necessity to mitigate operational risks, is expected to drive sustained investment in Mobile SDK Governance solutions.

From a regional perspective, North America currently dominates the Mobile SDK Governance for Banking market, owing to its mature banking sector, high mobile penetration, and proactive regulatory landscape. Europe follows closely, driven by the implementation of GDPR and PSD2 regulations, which mandate strict data governance and security protocols. The Asia Pacific region, meanwhile, is emerging as a high-growth market due to rapid digital transformation in countries like China, India, and Singapore, where mobile banking adoption is skyrocketing. The growing fintech ecosystem and government initiatives to promote digital payments are further propelling market growth in this region. As digital banking continues to evolve globally, regional variations in regulatory requirements and technological adoption will play a pivotal role in shaping the market trajectory.

Component Analysis

The Component segme

Event-Driven Core Banking Market Outlook

According to our latest research, the Global Event-Driven Core Banking market size was valued at $8.4 billion in 2024 and is projected to reach $22.7 billion by 2033, expanding at a CAGR of 11.6% during 2024–2033. The surge in market growth is primarily attributed to the increasing demand for real-time transaction processing and enhanced customer experiences, which are driving banks and financial institutions to modernize their core banking infrastructures with event-driven architectures. This shift enables rapid response to dynamic market conditions, supports seamless digital transformation, and allows financial organizations to deliver hyper-personalized services at scale. As digital banking adoption accelerates globally, event-driven core banking platforms are becoming essential for operational agility, regulatory compliance, and innovation in financial services.

Regional Outlook

North America continues to dominate the event-driven core banking market, holding the largest regional share in 2024, accounting for approximately 38% of the global market value. This region’s leadership is underpinned by a mature financial services sector, early adoption of advanced banking technologies, and a robust regulatory framework that encourages digital innovation. Major banks and financial institutions in the United States and Canada have aggressively invested in modernizing their core systems, leveraging event-driven architectures to improve operational efficiency and customer engagement. The presence of leading technology providers, coupled with a highly competitive banking landscape, further accelerates the adoption of these solutions. Additionally, stringent data privacy and security regulations in North America have prompted banks to seek flexible, real-time platforms that can adapt quickly to evolving compliance requirements, driving sustained demand for event-driven core banking systems.

The Asia Pacific region is emerging as the fastest-growing market, projected to expand at a remarkable CAGR of 14.2% between 2024 and 2033. This rapid growth is fueled by the ongoing digital transformation of banking services across countries such as China, India, Singapore, and Australia. The region’s large unbanked and underbanked populations, combined with increasing smartphone penetration and government-led financial inclusion initiatives, are creating significant opportunities for banks to deploy scalable, event-driven core banking platforms. Investments from both domestic and international players are accelerating the modernization of legacy systems, with a strong focus on cloud-based deployments and API-driven architectures. As fintech ecosystems flourish and regulatory sandboxes encourage innovation, Asia Pacific is expected to witness a surge in new product launches and partnerships, further propelling market expansion.

In emerging economies across Latin America and Middle East & Africa, the adoption of event-driven core banking solutions is gaining momentum, albeit at a more gradual pace. These regions face unique challenges, including fragmented financial infrastructures, limited IT budgets, and varying regulatory standards. However, localized demand for digital banking services, coupled with the entry of agile fintech startups and supportive government policies, is gradually overcoming adoption barriers. Financial institutions in these markets are increasingly recognizing the value of event-driven architectures in delivering real-time services, improving risk management, and reaching underserved customer segments. Nevertheless, the pace of adoption is tempered by skills shortages, integration complexities, and the need for tailored solutions that address local market dynamics and regulatory frameworks.

Report Scope

Discover the booming Singapore neobanking market! Our analysis reveals a $14.84 billion market in 2025, growing at a CAGR exceeding 6% through 2033. Explore key drivers, trends, and top players like TransferWise, Revolut, and DBS DigiBank. Learn more about this dynamic sector. Key drivers for this market are: Increasing Digital Adoption among Consumers. Potential restraints include: Increasing Digital Adoption among Consumers. Notable trends are: Increasing Number of Partnership Banks.

The Singapore Fintech Market Report is Segmented by Service Proposition (Digital Payments, Digital Lending & Financing, Digital Investments, Insurtech, Neobanking), End-User (Retail, Businesses), User Interface (Mobile Applications, Web/Browser, POS/IoT Devices), and Geography (Central Region, East Region, North Region, North-East Region, West Region). The Market Forecasts are Provided in Terms of Value (USD).

The global mobile banking market size is projected to grow from USD 1077.25 million in 2025 to USD 2610.61 million by 2033, exhibiting a CAGR of 11.7%.
Report Scope:

Abstract

The fourth edition of the Global Findex offers a lens into how people accessed and used financial services during the COVID-19 pandemic, when mobility restrictions and health policies drove increased demand for digital services of all kinds.

The Global Findex is the world's most comprehensive database on financial inclusion. It is also the only global demand-side data source allowing for global and regional cross-country analysis to provide a rigorous and multidimensional picture of how adults save, borrow, make payments, and manage financial risks. Global Findex 2021 data were collected from national representative surveys of about 128,000 adults in more than 120 economies. The latest edition follows the 2011, 2014, and 2017 editions, and it includes a number of new series measuring financial health and resilience and contains more granular data on digital payment adoption, including merchant and government payments.

The Global Findex is an indispensable resource for financial service practitioners, policy makers, researchers, and development professionals.

Geographic coverage

Twenty-eight of 55 Planning Areas were excluded due to zero or small population size, accounting for less than 3 percent of the total population. In addition, individuals living in private condos or landed properties were excluded, representing approximately 20 percent of households in Singapore.

Analysis unit

Individual

Kind of data

Observation data/ratings [obs]

Sampling procedure

In most developing economies, Global Findex data have traditionally been collected through face-to-face interviews. Surveys are conducted face-to-face in economies where telephone coverage represents less than 80 percent of the population or where in-person surveying is the customary methodology. However, because of ongoing COVID-19 related mobility restrictions, face-to-face interviewing was not possible in some of these economies in 2021. Phone-based surveys were therefore conducted in 67 economies that had been surveyed face-to-face in 2017. These 67 economies were selected for inclusion based on population size, phone penetration rate, COVID-19 infection rates, and the feasibility of executing phone-based methods where Gallup would otherwise conduct face-to-face data collection, while complying with all government-issued guidance throughout the interviewing process. Gallup takes both mobile phone and landline ownership into consideration. According to Gallup World Poll 2019 data, when face-to-face surveys were last carried out in these economies, at least 80 percent of adults in almost all of them reported mobile phone ownership. All samples are probability-based and nationally representative of the resident adult population. Phone surveys were not a viable option in 17 economies that had been part of previous Global Findex surveys, however, because of low mobile phone ownership and surveying restrictions. Data for these economies will be collected in 2022 and released in 2023.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used. Respondents are randomly selected within the selected households. Each eligible household member is listed, and the hand-held survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer's gender.

In traditionally phone-based economies, respondent selection follows the same procedure as in previous years, using random digit dialing or a nationally representative list of phone numbers. In most economies where mobile phone and landline penetration is high, a dual sampling frame is used.

The same respondent selection procedure is applied to the new phone-based economies. Dual frame (landline and mobile phone) random digital dialing is used where landline presence and use are 20 percent or higher based on historical Gallup estimates. Mobile phone random digital dialing is used in economies with limited to no landline presence (less than 20 percent).

For landline respondents in economies where mobile phone or landline penetration is 80 percent or higher, random selection of respondents is achieved by using either the latest birthday or household enumeration method. For mobile phone respondents in these economies or in economies where mobile phone or landline penetration is less than 80 percent, no further selection is performed. At least three attempts are made to reach a person in each household, spread over different days and times of day.

Sample size for Singapore is 1000.

Mode of data collection

Face-to-face [f2f]

Research instrument

Questionnaires are available on the website.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar. 2022. The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. Washington, DC: World Bank.

Product Analytics for Open Banking Journeys Market Outlook

According to our latest research, the Global Product Analytics for Open Banking Journeys market size was valued at $1.2 billion in 2024 and is projected to reach $4.9 billion by 2033, expanding at a CAGR of 16.7% during 2024–2033. This robust growth is primarily driven by the rapid digital transformation of the banking sector, which is increasingly leveraging open banking frameworks to enhance customer experience, security, and operational efficiency. The proliferation of open APIs and the regulatory push towards data transparency have made product analytics indispensable for financial institutions aiming to optimize customer journeys, detect fraud, and ensure compliance in real time. As banks and fintech companies compete to deliver personalized, seamless, and secure digital services, the demand for advanced product analytics solutions is set to accelerate on a global scale.

Regional Outlook

North America currently holds the largest share of the Product Analytics for Open Banking Journeys market, accounting for over 38% of the global revenue in 2024. This dominance is attributed to the region’s mature financial ecosystem, early adoption of open banking regulations, and significant investment in fintech innovation. The United States, in particular, has seen widespread integration of product analytics across major banks and fintechs, driven by a robust regulatory framework and consumer demand for transparency. Additionally, the presence of leading technology vendors and a strong focus on data-driven decision-making have further cemented North America’s leadership position. The high rate of digital banking adoption and the proliferation of API-based financial products are expected to sustain this growth trajectory throughout the forecast period.

Asia Pacific is poised to be the fastest-growing region, with a forecasted CAGR of 19.4% from 2024 to 2033. The region’s growth is fueled by the rapid digitalization of financial services, increasing smartphone penetration, and government initiatives promoting open banking frameworks, particularly in countries such as China, India, and Singapore. Financial institutions across Asia Pacific are investing heavily in cloud-based analytics platforms to streamline customer onboarding, enhance fraud detection, and comply with evolving regulatory standards. The burgeoning fintech ecosystem, coupled with a large unbanked and underbanked population, presents immense opportunities for the adoption of product analytics. Strategic partnerships between global analytics vendors and local banks are further accelerating market expansion in this region.

In emerging economies within Latin America, the Middle East, and Africa, the adoption of product analytics for open banking journeys is steadily gaining traction, albeit at a slower pace compared to more developed regions. Challenges such as limited digital infrastructure, regulatory uncertainty, and lower fintech adoption rates have posed barriers to widespread implementation. However, localized demand for secure and transparent banking solutions, coupled with progressive policy reforms in markets like Brazil and South Africa, is fostering gradual growth. As digital literacy improves and financial inclusion becomes a policy priority, these regions are expected to witness increasing investments in product analytics solutions tailored to unique market dynamics and compliance requirements.

Report Scope

Remote Access Tool Detection for Banking Market Outlook

According to our latest research, the Remote Access Tool Detection for Banking market size reached USD 1.87 billion in 2024 globally, driven by the growing sophistication of cyber threats targeting the banking sector. The market is projected to expand at a robust CAGR of 15.4% from 2025 to 2033, culminating in a forecasted market size of USD 6.03 billion by 2033. This remarkable growth trajectory is propelled by the urgent need for advanced security solutions to counteract evolving remote access tool (RAT) attacks, which are increasingly undermining the integrity of banking operations and customer trust.

One of the primary growth factors for the Remote Access Tool Detection for Banking market is the rapid digital transformation of the banking industry. As financial institutions intensify their adoption of online and mobile banking services, the attack surface for cybercriminals has expanded significantly. Remote access tools, initially designed for legitimate IT support, have become a favored vector for cyberattacks, enabling unauthorized access to sensitive banking systems and customer data. This surge in digital banking has created an urgent requirement for robust RAT detection solutions capable of identifying and neutralizing threats in real-time, thereby safeguarding both institutional assets and customer information. Additionally, the integration of AI and machine learning into RAT detection platforms is enhancing the accuracy and speed of threat identification, further fueling market growth.

Another critical driver is the tightening regulatory landscape across major banking markets. Regulatory bodies such as the European Central Bank, the Federal Reserve, and the Monetary Authority of Singapore are mandating stringent cybersecurity frameworks for banks, compelling them to deploy advanced RAT detection solutions. Compliance with standards like PSD2, GDPR, and PCI DSS is no longer optional, and non-compliance can result in severe financial penalties and reputational damage. As a result, banks are investing heavily in technologies that not only ensure compliance but also provide comprehensive threat intelligence and risk assessment capabilities. The increasing frequency of high-profile cyberattacks on banks globally has further heightened awareness and accelerated the adoption of RAT detection tools.

The proliferation of remote work in the banking sector has also contributed significantly to market expansion. The COVID-19 pandemic catalyzed a shift towards hybrid and remote work models, making banks more reliant on remote access technologies. While these tools enhance operational flexibility, they also introduce new security vulnerabilities. Cybercriminals exploit these vulnerabilities through sophisticated RAT campaigns, targeting both employees and customers. This evolving threat landscape has made remote access tool detection a critical component of banking cybersecurity strategies. Banks are now prioritizing investments in solutions that offer real-time monitoring, behavioral analytics, and rapid incident response to mitigate the risks associated with remote access.

From a regional perspective, North America dominates the Remote Access Tool Detection for Banking market, accounting for over 38% of global revenue in 2024. This leadership is attributed to the region's advanced digital banking infrastructure, high incidence of cyber threats, and proactive regulatory environment. Europe follows closely, driven by stringent data protection regulations and a mature financial sector. The Asia Pacific region is emerging as the fastest-growing market, with a projected CAGR of 18.2% over the forecast period, fueled by rapid digitalization, increasing cybercrime, and rising investments in cybersecurity by leading banks. Latin America and the Middle East & Africa are also witnessing steady growth, albeit from a smaller base, as financial institutions in these regions accelerate their digital transformation and security initiatives.

Component Analysis

The Component segment of the Remote Access Tool Detection for Banking market is bifurcated into software and services, each playing a pivotal role in the overall security ecosystem. Software solutions form the backbone of RAT detection, encompassing endpoint protection platforms, network monitoring tools, behavioral analytics, and threat intelligence systems. These

Abstract

Well-functioning financial systems serve a vital purpose, offering savings, credit, payment, and risk management products to people with a wide range of needs. Yet until now little had been known about the global reach of the financial sector - the extent of financial inclusion and the degree to which such groups as the poor, women, and youth are excluded from formal financial systems. Systematic indicators of the use of different financial services had been lacking for most economies.

The Global Financial Inclusion (Global Findex) database provides such indicators. This database contains the first round of Global Findex indicators, measuring how adults in more than 140 economies save, borrow, make payments, and manage risk. The data set can be used to track the effects of financial inclusion policies globally and develop a deeper and more nuanced understanding of how people around the world manage their day-to-day finances. By making it possible to identify segments of the population excluded from the formal financial sector, the data can help policy makers prioritize reforms and design new policies.

Geographic coverage

National Coverage.

Analysis unit

Individual

Universe

The target population is the civilian, non-institutionalized population 15 years and above. The sample is nationally representative.

Kind of data

Sample survey data [ssd]

Sampling procedure

The Global Findex indicators are drawn from survey data collected by Gallup, Inc. over the 2011 calendar year, covering more than 150,000 adults in 148 economies and representing about 97 percent of the world's population. Since 2005, Gallup has surveyed adults annually around the world, using a uniform methodology and randomly selected, nationally representative samples. The second round of Global Findex indicators was collected in 2014 and is forthcoming in 2015. The set of indicators will be collected again in 2017.

Surveys were conducted face-to-face in economies where landline telephone penetration is less than 80 percent, or where face-to-face interviewing is customary. The first stage of sampling is the identification of primary sampling units, consisting of clusters of households. The primary sampling units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used. Respondents are randomly selected within the selected households by means of the Kish grid.

Surveys were conducted by telephone in economies where landline telephone penetration is over 80 percent. The telephone surveys were conducted using random digit dialing or a nationally representative list of phone numbers. In selected countries where cell phone penetration is high, a dual sampling frame is used. Random respondent selection is achieved by using either the latest birthday or Kish grid method. At least three attempts are made to teach a person in each household, spread over different days and times of year.

The sample size in the majority of economies was 1,000 individuals.

Mode of data collection

Face-to-face [f2f]

Research instrument

The questionnaire was designed by the World Bank, in conjunction with a Technical Advisory Board composed of leading academics, practitioners, and policy makers in the field of financial inclusion. The Bill and Melinda Gates Foundation and Gallup, Inc. also provided valuable input. The questionnaire was piloted in over 20 countries using focus groups, cognitive interviews, and field testing. The questionnaire is available in 142 languages upon request.

Questions on insurance, mobile payments, and loan purposes were asked only in developing economies. The indicators on awareness and use of microfinance insitutions (MFIs) are not included in the public dataset. However, adults who report saving at an MFI are considered to have an account; this is reflected in the composite account indicator.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country- and indicator-specific standard errors, refer to the Annex and Country Table in Demirguc-Kunt, Asli and L. Klapper. 2012. "Measuring Financial Inclusion: The Global Findex." Policy Research Working Paper 6025, World Bank, Washington, D.C.

USD 8.15 Million in 2024; projected USD 25.63 Million by 2033; CAGR 13.55%.

The Southeast Asia credit and risk management market is experiencing robust growth, driven by the region's expanding financial sector, increasing digitalization, and a rising need for sophisticated risk mitigation strategies. The market's Compound Annual Growth Rate (CAGR) of 10.93% from 2019 to 2024 suggests a significant upward trajectory, projected to continue in the coming years. Key drivers include the growing adoption of cloud-based solutions offering scalability and cost-effectiveness, increasing regulatory scrutiny demanding robust risk management frameworks, and the prevalence of fraud and cyber threats necessitating advanced analytical tools. Furthermore, the rising adoption of big data analytics and artificial intelligence (AI) is transforming credit risk assessment, enabling more accurate credit scoring and fraud detection. While data privacy regulations and a potential skills gap in data analytics pose challenges, the overall market outlook remains positive. The market segmentation reveals a strong preference for cloud-based deployment models due to their flexibility and accessibility. Major players like SAS Institute, IBM, Oracle, and Experian are shaping the market landscape through innovative solutions and strategic partnerships. Growth is anticipated to be particularly strong in countries like Singapore, Malaysia, and Indonesia, driven by their rapidly developing economies and burgeoning financial sectors. The sustained expansion of e-commerce and fintech further fuels demand for advanced credit risk management systems. Competition is intensifying, leading to price optimization and increased focus on value-added services such as fraud detection and customer analytics. While the on-premise segment retains a share, its growth will likely be slower than the cloud segment's due to the higher initial investment and maintenance costs. Overall, the Southeast Asia credit and risk management market presents significant opportunities for both established players and new entrants who can offer innovative solutions and cater to the evolving needs of financial institutions and businesses. Recent developments include: February 2023: Baiduri Bank, Brunei's leading financial services provider, partnered with Singapore-based AI FinTech Finbots.AI to modernize its credit risk management capabilities. Through this partnership, creditX, a finbots' cloud-based artificial intelligence credit modeling tool, can be used by the bank for credit scoring, optimizing the credit-decision process, resulting in increased operational efficiency., September 2022: Asian Development Bank's (ADB) investment and credit risk management policies, methods, tools, systems, and structure were evaluated to determine their applicability and effectiveness. To attain ADB's Strategy 2030 and broader development goals, the bank examined how risk management initiatives have been developed and performed to support PSOD's (Private Sector Operations Department) aims.. Key drivers for this market are: High Inflow of Credit Needs Owing to the Increase in Purchasing Power, BFSIs Need to Diminish Bad Debt. Potential restraints include: High Inflow of Credit Needs Owing to the Increase in Purchasing Power, BFSIs Need to Diminish Bad Debt. Notable trends are: High Inflow of Credit Needs, Owing to the Increase in Purchasing Power, Drives the Market.

Experimentation Platforms for Banking Market Outlook

According to our latest research, the Global Experimentation Platforms for Banking market size was valued at $2.1 billion in 2024 and is projected to reach $7.6 billion by 2033, expanding at a robust CAGR of 15.2% during the forecast period of 2025–2033. One of the major factors propelling the growth of this market is the rapid digital transformation initiatives within the banking sector, which demand agile, data-driven decision-making and continuous product innovation. As banks strive to enhance customer experience, optimize risk management, and comply with evolving regulations, the deployment of advanced experimentation platforms is becoming indispensable, enabling institutions to test, measure, and iterate new solutions with speed and precision.

Regional Outlook

North America continues to dominate the Experimentation Platforms for Banking market, accounting for the largest market share, estimated at over 38% of the global revenue in 2024. This leadership is attributed to the region's mature banking ecosystem, high digital adoption rates, and favorable regulatory frameworks that encourage innovation and technology integration. The presence of major technology vendors and a strong culture of early adoption among financial institutions further solidifies North America’s position. The region’s banks are leveraging experimentation platforms extensively for product development, customer experience optimization, and compliance testing to maintain their competitive edge. Furthermore, the robust investment in fintech and the proliferation of digital banking channels have accelerated the integration of these platforms into mainstream banking operations.

Asia Pacific is emerging as the fastest-growing region in the Experimentation Platforms for Banking market, projected to register a CAGR of 19.4% from 2025 to 2033. The rapid expansion is fueled by significant investments in banking infrastructure modernization, a burgeoning fintech ecosystem, and increasing regulatory support for digital transformation. Countries such as China, India, and Singapore are at the forefront, with banks adopting experimentation platforms to enhance customer engagement, streamline operations, and comply with dynamic regulatory requirements. The region’s large unbanked and underbanked populations present vast opportunities for banks to experiment with new products and digital channels, driving further market growth. Additionally, government-led initiatives promoting digital financial inclusion are acting as catalysts for adoption.

In emerging economies across Latin America, the Middle East, and Africa, the adoption of experimentation platforms in banking is gaining momentum but faces unique challenges. While there is a growing recognition of the value these platforms bring in terms of product innovation and risk mitigation, factors such as limited IT infrastructure, skills shortages, and regulatory complexities can hinder widespread adoption. Local banks are gradually investing in cloud-based experimentation solutions to overcome infrastructure constraints, but the pace of adoption remains uneven. Nevertheless, as these regions continue to attract foreign investment and regulatory reforms promote digital banking, the long-term outlook remains positive, with localized demand for experimentation platforms expected to rise steadily.

Report Scope