Digital Banking Market Size, Share, Growth Analysis, By Component(Platforms, Solutions and Services (Professional services {consulting, implementation, support and maintenance}), By Banking type(Retail Banking, Corporate Banking, Investment Banking), By Mode(Online, and Mobile), By Deployment type(On-premises, and cloud), By Region - Industry Forecast 2024-2031

In June 2024, to further its digital capabilities, First State Bank teamed up with financial technology solutions company Jack Henry. The bank increased efficiency and streamlined processes by implementing Jack Henry's core processing technology. It also embraced Jack Henry's digital banking platform, Banno, which integrates features including payments, card management, user identification, and customer support. The purpose of this calculated action was to improve the bank's competitive position by utilising more than 950 APIs from outside fintech partners. 

In May 2024, The London-based FinTech startup Revolut planned to grow throughout the Asia Pacific area, with a focus on areas like Singapore and New Zealand. Revolut has already made significant progress in Australia, where it now has 600,000 users (about half the population of Hawaii) and a significant increase in transaction volume. 

In January 2023, Axis Bank collaborated with OPEN to provide a fully native digital current account to its clients, who include SMEs, independent contractors, home-based business owners, influencers, and others. Through this partnership, the greater business community will have access to Axis Bank's extensive banking services and OPEN's end-to-end financial automation capabilities for business administration, including payments, accounting, payroll, compliance, expenditure management, and other services.