Digital banking has revolutionized the way we bank and manage our finances

Digitalization in the sector has accelerated over the last few years, largely driven by consumer demand and enabled by the global increase in access to the internet.
 

Mobile banking has become the primary method of banking for many consumers

>2.7 billion digital banking users in 2022¹

Digital payments are one of the fastest growing segments

The global digital payments transaction value reached $8.35T in 2022, an increase of 11% from the previous year²

Technological innovations are enabling faster, secure, inclusive and transparent transactions

E.g.: blockchain, cryptocurrency, artificial intelligence, open banking, BNPL

Digital-only neobanks have gained popularity

Over 290 neobanks operating globally, with a combined user base of over 70M³

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Key Accelerators of Rapid Digital Transformation

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More and more banks are embracing new and innovative technologies to enhance the services they offer their customers and improve efficiencies in their internal processes.

Mastercard has identified four pillars and 12 emerging trends in digital banking: