The banking sector's AI and generative AI spending was estimated at 31.3 billion U.S. dollars in 2024, up from 20.64 billion U.S. dollars in 2023. Growing at a compound annual rate of 27 percent, spending is forecast to reach nearly 40 billion U.S. dollars in 2025 and exceed 81 billion U.S. dollars by 2028. The banking sector represents the majority of financial sector AI spending, which totaled 45 billion U.S. dollars in 2024.

Graph and download economic data for International Banking Facilities of U.S.-Chartered Depository Institutions; Total Liabilities (Call Report), Transactions (BOGZ1FA274190273Q) from Q4 1946 to Q1 2025 about U.S.-chartered, transactions, liabilities, banks, depository institutions, and USA.

According to a survey conducted by Statista among more than 50,000 bank customers across 34 markets worldwide, the most important factor when thinking about their bank was *****. Digital services ranked second, followed by customer service. More in-depth information can be found in the 2025 global bank customer satisfaction survey

India International Banking: Liabilities: Other: Capital or Remittable Profits of Foreign Banks and Others data was reported at 992,778.112 INR mn in Mar 2018. This records a decrease from the previous number of 1,095,032.460 INR mn for Dec 2017. India International Banking: Liabilities: Other: Capital or Remittable Profits of Foreign Banks and Others data is updated quarterly, averaging 286,850.000 INR mn from Sep 2004 (Median) to Mar 2018, with 55 observations. The data reached an all-time high of 1,139,560.445 INR mn in Mar 2016 and a record low of 12,640.000 INR mn in Jun 2006. India International Banking: Liabilities: Other: Capital or Remittable Profits of Foreign Banks and Others data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Banking Sector – Table IN.KBA002: Assets and Liabilities: International Banking.

International Banking: Assets: USD: Loans and Deposits: Outstanding Export Bills data was reported at 13.696 USD bn in Mar 2018. This records a decrease from the previous number of 14.419 USD bn for Dec 2017. International Banking: Assets: USD: Loans and Deposits: Outstanding Export Bills data is updated quarterly, averaging 14.273 USD bn from Dec 2012 (Median) to Mar 2018, with 22 observations. The data reached an all-time high of 29.846 USD bn in Mar 2016 and a record low of 11.975 USD bn in Dec 2012. International Banking: Assets: USD: Loans and Deposits: Outstanding Export Bills data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Banking Sector – Table IN.KBA002: Assets and Liabilities: International Banking.

Online Banks Market Outlook

The global online banks market size was valued at approximately USD 1.9 trillion in 2023 and is projected to reach around USD 4.6 trillion by 2032, growing at a robust CAGR of 10.5% over the forecast period. The growth in the online banking sector can be attributed to the increasing adoption of digital technologies, the proliferation of smartphones, and the rising demand for convenient and efficient banking services.

One of the primary growth factors for the online banks market is the rapid advancement in digital technology, which has revolutionized the banking industry. The integration of artificial intelligence, blockchain technology, and big data analytics has significantly enhanced the efficiency, security, and user experience of online banking platforms. Moreover, the widespread use of smartphones and the internet has made it easier for individuals and businesses to access banking services from anywhere at any time.

Another significant growth driver is the changing consumer preferences towards digital banking solutions. With the younger generation becoming more tech-savvy, there is a growing demand for online banking services that offer convenience, speed, and lower costs compared to traditional banking methods. Additionally, the COVID-19 pandemic has accelerated the adoption of online banking as consumers seek contactless and remote financial services to minimize physical interactions.

Regulatory support and initiatives by governments and financial institutions worldwide are also contributing to the growth of the online banks market. Regulatory frameworks that promote digital financial inclusion and the development of secure and robust digital banking infrastructures are fostering the expansion of online banking services. Furthermore, financial institutions are increasingly partnering with fintech companies to offer innovative and personalized banking solutions to their customers.

Retail Banking has been a cornerstone of the financial industry, offering essential services such as savings accounts, loans, and credit cards to individual consumers. As the digital landscape evolves, retail banking is undergoing a transformation, with online platforms providing enhanced accessibility and convenience. The shift towards digital retail banking is driven by consumer demand for seamless, 24/7 access to financial services, as well as the integration of advanced technologies like AI and machine learning. These innovations are enabling banks to offer personalized experiences, streamline operations, and improve customer satisfaction. As a result, retail banking is poised to play a pivotal role in the future of the online banking market, catering to the needs of a tech-savvy generation seeking efficient and secure financial solutions.

Regionally, North America and Europe are leading the online banks market, driven by high internet penetration, technological advancements, and a strong regulatory environment. However, the Asia Pacific region is expected to witness the fastest growth over the forecast period, fueled by the increasing adoption of digital technologies, rising disposable incomes, and supportive government initiatives aimed at promoting financial inclusion and digital banking.

Service Type Analysis

The online banks market can be segmented based on service type into savings accounts, checking accounts, loans, credit cards, and others. Savings accounts and checking accounts are the most commonly used online banking services, offering customers the ability to manage their finances with ease and convenience. The demand for online savings accounts is growing as consumers seek higher interest rates and more flexible terms compared to traditional bank accounts. Additionally, online checking accounts provide customers with easy access to their funds, facilitating everyday transactions through digital platforms.

Loans represent another significant segment within the online banks market. Online banks offer various types of loans, including personal loans, home loans, and auto loans, with competitive interest rates and streamlined application processes. The convenience of applying for loans online, along with faster approval times and lower fees, is attracting a growing number of borrowers to online banking platforms. Furthermore, online banks leverage advanced algorithms and data analytics to assess creditworthiness, enabling them to offer personalized loan products to their customers.

Banking and Financial Smart Cards Market Outlook

The global banking and financial smart cards market size was valued at approximately USD 15 billion in 2023 and is projected to reach USD 45 billion by 2032, growing at a compound annual growth rate (CAGR) of 12.5% during the forecast period. This exponential growth is primarily driven by increasing digitalization, enhanced security needs, and the rising adoption of contactless payment technologies.

One of the critical growth factors for this market is the rapid advancement in digital payment systems. As economies worldwide continue to move towards cashless transactions, the demand for secure and efficient payment solutions has surged. Smart cards, with their embedded microcontrollers and advanced security features, offer a reliable means to conduct transactions. Additionally, the COVID-19 pandemic accelerated the shift towards contactless payments, further boosting the adoption of banking and financial smart cards.

Another significant factor propelling the market growth is the stringent regulatory frameworks aimed at enhancing transaction security. Financial institutions and governing bodies are increasingly focusing on combating fraud and ensuring the integrity of financial transactions. This has led to the widespread implementation of EMV (Europay, MasterCard, and Visa) standards, which necessitate the use of smart cards with enhanced security features. Furthermore, the integration of biometric authentication in smart cards is anticipated to provide an additional layer of security, driving their adoption in the banking and financial sectors.

The proliferation of fintech companies and innovative financial solutions is also a major catalyst for market expansion. The advent of digital banks and online financial services has necessitated the need for robust authentication mechanisms. Smart cards play a crucial role in this context by offering secure access to financial services, thereby supporting the growth of various fintech solutions. Moreover, strategic collaborations between traditional financial institutions and fintech firms are expected to create new opportunities for the deployment of smart cards in the banking and financial sectors.

Regionally, North America and Europe are currently the largest markets for banking and financial smart cards, driven by the high adoption of advanced payment technologies and robust regulatory frameworks. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period. This can be attributed to the increasing penetration of digital payment systems, government initiatives to promote cashless transactions, and the rapid expansion of the banking sector in emerging economies like India and China.

Type Analysis

The banking and financial smart cards market can be segmented by type into contact smart cards, contactless smart cards, and dual-interface smart cards. Contact smart cards require physical insertion into a card reader and have been widely adopted for their secure transaction capabilities. Despite their widespread use, the emergence of contactless smart cards has started to overshadow contact cards due to their convenience and speed. Contactless smart cards utilize near-field communication (NFC) technology, allowing transactions to be completed with a simple tap, significantly reducing transaction time and enhancing user experience.

Dual-interface smart cards combine the features of both contact and contactless smart cards, offering flexibility and security in a single card. They are particularly beneficial in environments where multiple payment methods are prevalent. The growing preference for these versatile cards can be attributed to their ability to cater to diverse user needs, making them ideal for a variety of applications, from retail payments to secure access control in corporate and government settings. This adaptability is expected to drive the demand for dual-interface smart cards during the forecast period.

Contact smart cards still hold a significant share of the market, especially in regions where the infrastructure for contactless payments is still developing. In many developing countries, the transition to contactless technology is gradual, and contact smart cards continue to be a mainstay due to their reliability and established acceptance. However, as infrastructure improves and consumer preferences shift towards more convenient payment methods, the market share of contactless and dual-interface smart cards is anticipated to increase.

Over

WeBank, the Chinese digital bank, dominated the neobank market in 2024 with an unprecedented *** million customers at the end of 2023. The bank's robust growth extended to its financial performance, with WeBank's profits exceeding ** billion Chinese yuans in 2023. Rakuten followed in second place with ***** million customers as of September 2024. Nubank secured the third position, crossing the *** million customer mark in December 2024. In the European market, Revolut led with ** million customers by the end of 2024.

Thailand Deposit: Outs: CB: Current: DF: International Banking Facilities data was reported at 0.000 THB mn in Sep 2018. This stayed constant from the previous number of 0.000 THB mn for Aug 2018. Thailand Deposit: Outs: CB: Current: DF: International Banking Facilities data is updated monthly, averaging 0.000 THB mn from Oct 2003 (Median) to Sep 2018, with 180 observations. The data reached an all-time high of 570.000 THB mn in Jul 2008 and a record low of 0.000 THB mn in Sep 2018. Thailand Deposit: Outs: CB: Current: DF: International Banking Facilities data remains active status in CEIC and is reported by Bank of Thailand. The data is categorized under Global Database’s Thailand – Table TH.KB020: Deposit Outstanding: Commercial banks.

Global Voice Banking market size is expected to reach $3.49 billion by 2029 at 16.7%, segmented as by solution, voice recognition software, speech-to-text systems, voice authentication and security solutions, voice analytics tools

Mobile Banking Software Solution Market Outlook

The global mobile banking software solution market size is poised for significant growth, expected to rise from USD 12.3 billion in 2023 to approximately USD 25.7 billion by 2032, reflecting a robust CAGR of 8.5% during the forecast period. This growth is driven by the increasing digitalization across the banking sector, where financial institutions aim to enhance customer engagement and streamline operations through advanced mobile banking solutions. The adoption of smartphones and the internet has spurred the demand for mobile banking, enabling customers to perform financial transactions conveniently from their devices. Furthermore, the integration of artificial intelligence and machine learning in mobile banking applications is expected to bolster the market growth, offering personalized banking experiences and improving security features.

One of the significant growth factors propelling the mobile banking software solution market is the rapid advancement in technology which has revolutionized the banking sector. Financial institutions are increasingly adopting mobile banking solutions to offer seamless and secure services to their customers. The integration of biometrics, blockchain, and AI in mobile banking apps has enhanced the security and efficiency of banking operations, encouraging more customers to opt for digital banking. Furthermore, the shift towards a cashless society, accelerated by the COVID-19 pandemic, has further driven the adoption of mobile banking solutions, as people increasingly prefer contactless transactions.

Another crucial factor contributing to the market's growth is the increase in smartphone penetration worldwide. With the growing number of smartphone users, the demand for mobile banking solutions has surged, as they offer a convenient way for users to manage their finances on-the-go. Banks and financial institutions are capitalizing on this trend by developing user-friendly mobile applications that cater to the evolving needs of tech-savvy customers. Additionally, the rising trend of open banking and APIs is facilitating the development of more innovative and customized mobile banking solutions, thereby enhancing customer experience and retention.

The regulatory landscape is also playing a pivotal role in the growth of the mobile banking software solution market. Governments and regulatory bodies across the globe are implementing favorable policies and frameworks to encourage the adoption of digital banking solutions. Such regulations are aimed at promoting financial inclusion, ensuring data privacy, and enhancing the overall security of digital transactions, which in turn, is boosting the confidence of both consumers and financial institutions in mobile banking solutions. Moreover, the emergence of fintech companies offering innovative financial services is further challenging traditional banks to adopt advanced mobile banking solutions to stay competitive in the market.

Retail Banking Software plays a crucial role in the broader landscape of mobile banking solutions. As financial institutions strive to enhance their service offerings and meet the evolving demands of customers, retail banking software provides the necessary tools to streamline operations and improve customer engagement. This software enables banks to offer personalized services, manage customer relationships effectively, and deliver seamless banking experiences across various channels. The integration of retail banking software with mobile banking solutions allows institutions to provide a unified and consistent customer experience, whether through mobile apps, online platforms, or in-branch services. As the market continues to evolve, the importance of retail banking software in driving innovation and customer satisfaction cannot be overstated.

Regionally, North America holds a significant share in the mobile banking software solution market due to the presence of major financial institutions and high adoption rates of digital banking technologies. However, Asia Pacific is expected to witness the highest growth rate during the forecast period, driven by the increasing smartphone penetration, rising disposable incomes, and supportive government initiatives towards digital transformation. Europe is also anticipated to experience substantial growth owing to the strong regulatory framework and high demand for secure and efficient banking solutions. Meanwhile, the markets in Latin America and the Middle East & Africa are gradually picking up pace as financial instituti

Nubank demonstrated remarkable customer acquisition in 2023, bringing in more than ** million new customers, surpassing all other major digital banking competitors in observed growth. This substantial expansion pushed Nubank's total customer base beyond ** million users. In parallel, Revolut experienced significant growth in its own right, attracting **** million new customers throughout 2023.

Open Banking Market size was valued at around USD 31.54 billion in 2024 and is estimated to grow at a CAGR of about 27.60% from 2025-2030.

In 2024, the value mergers and acquisition (M&A) deal in the banking sector worldwide stood at 178 billion U.S. dollars, a significant increase in compared to previous year. This figure, however, is less than half of one the peaks recorded in 2021, when the value of M&A deals in the banking sector exceeded 400 billion U.S. dollars.

In 2024, the environmental, social, and governance (ESG) scores of the largest banks worldwide varied markedly across different score providers. **************, the largest bank globally in terms of market capitalization, showed a wide range of scores: when standardized to a score out of 100, the highest score was given by MSCI, at ****, and the lowest by S&P Global (previously RobecoSAM), at **, while the score from Sustainalytics had a value of **. With only one green bond issued since December 2020, JPMorgan Chase ranked tenth among the leading banks worldwide by value of green bond issuance. Growing commitment to sustainability Banks worldwide are increasingly recognizing the importance of sustainability in their operations. The Net-Zero Banking Alliance, launched in 2021, has grown to include *** members as of September 2024, with the majority located in Europe. This initiative demonstrates the banking sector's commitment to aligning their operations with the goal of achieving net-zero emissions by 2050. Members are required to set interim targets and provide annual progress reports, indicating a shift towards more transparent and accountable sustainability practices in the industry. ESG scores and their growing role in investment decisions ESG scores measure a company's exposure to long-term environmental, social, and governance risks. These non-financial factors are a growing concern for investors worldwide, and many of them now integrate ESG data in their investment decision-making to have a positive impact on the environment and society. As a result, the assets of ESG funds worldwide increased considerably in recent years, reaching a value of *** billion U.S. dollars in 2023. ESG factors cover a broad spectrum of sustainability criteria, but environmental concerns are still the main drivers of ESG investing. Despite rising pressure on companies to decrease their impact on the environment, the carbon dioxide emissions of the largest banks worldwide are still far from sustainable.

International journal of central banking Acceptance Rate - ResearchHelpDesk - International journal of central banking - In July 2004, the Bank for International Settlements (BIS), the European Central Bank, and each of the Group of Ten* (G-10) central banks announced their plans to support the development of a new publication focused on central bank theory and practice. Other central banks were invited to participate in this joint project, and there are now 55 sponsoring institutions. From its initiation, the sponsors were committed to ensuring that the International Journal of Central Banking (IJCB) offer peer-reviewed articles of high analytical quality for a professional audience. The primary objectives of the IJCB are to widely disseminate the best policy-relevant and applied research on central banking and to promote communication among researchers both inside and outside of central banks. Roger W. Ferguson, Jr., then Vice Chairman of the Federal Reserve Board, first proposed the idea of such a journal and discussed the concept with several BIS colleagues and with Ben S. Bernanke, then Chair of the Federal Reserve Board of Governors, who agreed to serve as the initial managing editor. Charles Bean, then Chief Economist of the Bank of England, strongly supported the project, and the journal's governing body, comprising representatives from the sponsoring institutions, was established. The journal's managing editor, co-editors and associate editors coordinate solicitation and review of articles across a range of disciplines reflecting the missions of central banks around the world. While featuring policy-relevant articles on any aspect of the theory and practice of central banking, the publication has a special emphasis on research bearing on monetary and financial stability. Managing editors of the journal and their affiliations during their terms as managing editor: Ben S. Bernanke 2000 - 2005, Board of Governors of the Federal Reserve System John B. Taylor 2005 - 2007, Stanford University Frank Smets 2008 - 2010, European Central Bank John C. Williams 2011 - 2016, Federal Reserve Bank of San Francisco Loretta J. Mester 2016 - 2019, Federal Reserve Bank of Cleveland Luc Laeven 2020 - present, European Central Bank

AI in Banking Market size was valued at USD 11.62 Billion in 2024 and is projected to reach USD 90.97 Billion by 2032, growing at a CAGR of 32.36% from 2026 to 2032.

AI in Banking Market Drivers

Enhanced Customer Experience: AI-powered chatbots and virtual assistants provide 24/7 customer support, personalized financial advice, and tailored recommendations.

Improved Operational Efficiency: AI automates routine tasks, streamlines processes, and optimizes decision-making, leading to increased productivity and cost savings.

Advanced Fraud Detection: AI algorithms can detect and prevent fraudulent activities in real-time, protecting both the bank and its customers.

Risk Management: AI-powered risk assessment models can help identify and mitigate potential risks, such as credit risk and market risk.

Graph and download economic data for International Banking Facilities of Foreign Banking Offices in U.S.; Interbank Transactions Due from Foreign Affiliates; Asset, Transactions (BOGZ1FA283092605A) from 1946 to 2024 about fees, interbank, foreign, transactions, assets, banks, depository institutions, and USA.

Open Banking Platform Market Outlook

The global open banking platform market size was valued at $15.13 billion in 2023, and it is expected to reach $62.91 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 17.1% from 2024 to 2032. This exponential growth is primarily driven by increasing demand for efficient and transparent banking solutions, the proliferation of digital banking, and regulatory mandates encouraging financial institutions to adopt open banking frameworks.

The surge in digital transformation within the banking sector is a significant growth factor for the open banking platform market. As traditional banks embrace digital solutions to stay competitive, open banking platforms enable them to innovate rapidly, improve customer experiences, and streamline operations. Furthermore, the increasing consumer demand for personalized banking services and the rise of financial technology (fintech) companies have accelerated the adoption of open banking platforms. The growing need for seamless and secure payment processing solutions is also contributing to market growth.

Another critical growth factor is the regulatory environment. Governments and financial regulators worldwide are increasingly mandating the adoption of open banking to foster competition, enhance transparency, and promote innovation in the financial services sector. For instance, the European Union's Revised Payment Services Directive (PSD2) requires banks to open their payment services and customer data to third-party providers, thereby accelerating the growth of the open banking platform market. Similarly, regulatory developments in the Asia Pacific and North America are expected to drive market growth over the forecast period.

The increasing collaboration between traditional financial institutions and fintech companies is also fueling the growth of the open banking platform market. By leveraging open banking platforms, banks can integrate fintech solutions into their existing systems, thereby offering innovative products and services to their customers. This collaboration not only helps banks improve their customer retention rates but also enables fintech companies to scale their operations and expand their market reach.

The concept of Banking As A Service (BaaS) is increasingly becoming integral to the open banking ecosystem. BaaS allows traditional banks to offer their core financial services to third-party providers through APIs, enabling these providers to build new financial products and services on top of existing banking infrastructure. This model not only enhances the capabilities of fintech companies but also allows banks to reach a broader customer base without the need for significant investments in new technology. As the demand for seamless and integrated banking experiences grows, BaaS is expected to play a pivotal role in shaping the future of financial services, driving further innovation and collaboration across the industry.

Regionally, North America and Europe are the largest markets for open banking platforms, driven by the presence of major financial institutions and supportive regulatory frameworks. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, owing to the rapid digitalization of the banking sector, increasing smartphone penetration, and supportive government initiatives.

Component Analysis

The open banking platform market is segmented into software and services based on components. The software segment includes various types of applications, tools, and platforms that facilitate open banking operations. This segment holds a significant share of the market, primarily due to the increasing demand for robust and scalable software solutions that can support large-scale open banking activities. The software segment is further bifurcated into API management, security solutions, and analytics, each playing a vital role in the efficient functioning of open banking platforms.

API management software is crucial for the seamless integration of third-party services into existing banking systems. These APIs enable financial institutions to offer a wide range of services, from account aggregation to payment initiation, thereby enhancing customer experience and operational efficiency. Security solutions, on the other hand, are indispensable for protecting sensitive customer data and ensuring compliance with regulatory requirements. With the rise

Graph and download economic data for International Banking Facilities of Foreign Banking Offices in U.S.; Large Time Deposits; Liability, Transactions (BOGZ1FU283135003Q) from Q4 1946 to Q1 2025 about foreign, large, transactions, liabilities, deposits, banks, depository institutions, and USA.