Global Doorstep Banking Market Size study & Forecast, by Component (Solutions and Services), By Deployment Mode (On-Premises and Cloud) and Regional Analysis, 2022-2029

Global Doorstep Banking Market Size study & Forecast, by Component (Solutions and Services), By Deployment Mode (On-Premises and Cloud) and Regional Analysis, 2022-2029

Global Doorstep Banking Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Doorstep Banking is a facility offered by banking and financial institutions for completion of routine banking activities such as cash deposit, cash withdrawal, cheque deposit or making a demand draft. In doorstep banking, banks offer various services to their customers in the comfort of their homes through the help of third-party service providers as well as digital banking solutions. The bank charges a certain amount as a service fee for doorstep banking services. The Doorstep Banking market is expanding because of factors such as the growing expansion of BFSI Sector and rising adoption of smartphones worldwide as well as strategic initiatives from leading market players.

According to Statista – as of 2022, revenue in the global Banking, Finance & Insurances is estimated at USD 3720 billion, and the market is projected to grow at compound annual growth rate of 2.47% between 2022 & 2025 to reach USD 4002.5 billion by 2025. Moreover, as per India Brand Equity Foundation (IBEF) estimates – during 2021, India's smartphone shipments witnessed an increase of over 11% year-on-year to reach 169 million units with market revenue crossed USD 38 billion. Also, the growing digitization in the banking sector and rising emergence of neo banks worldwide would create lucrative opportunities for the market during the forecast period. However, high costs associated with doorstep banking solutions and lack of penetration from small-scale banks due to budget constraints impede market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Doorstep Banking Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share worldwide owing to factors such as presence of leading banking and financial institutions as well as availability of required digital infrastructure in the region. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising penetration of smartphones as well increasing expansion of doorstep banking services from leading banking groups in the region.

Major market players included in this report are:
Microsoft Corporation
Tata Consultancy Services (TCS) Limited
Capital Banking Solutions
Fiserv Inc
COR Financial Solutions Limited
EdgeVerve Systems Limited
ACI Worldwide
CGI Inc.
Temenos Headquarters SA
Dista Ai
Recent Developments in the Market:
In August 2022, India’s leading banking group, State Bank of India, rolled out doorstep banking for its selected customers. The bank would offer doorstep banking services to senior citizens over 70 years, differently abled people, people with certified chronic illnesses, and the visually impaired. In addition, Customers with a registered address within a 5-kilometre radius of the Home Branch would get access to doorstep banking services of the lender.

In June 2022, Geneva, Switzerland based Banking software vendor Temenos partnered with TS Banking Group, an Iowa, USA based banking institution for digitalization of bank’s Various banking operations through Temenos’s Banking Cloud Solution. This new partnership would enable to strengthen its offerings in the US market.
Global Doorstep Banking Market Report Scope:
Historical DataCompanies Mentioned

Microsoft Corporation
Tata Consultancy Services (TCS) Limited
Capital Banking Solutions
Fiserv Inc
COR Financial Solutions Limited
EdgeVerve Systems Limited
ACI Worldwide
CGI Inc.
Temenos Headquarters SA
Dista Ai

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