The global banking & payments industry experienced a 76% drop in company filings mentions of digital banking in Q2 2023 compared with the previous quarter, with the highest share accounted for by Nexi with 3% year-on-year increase, according to GlobalDataâ€™s analysis of over 330 banking & payments company filings. GlobalData’s Digital Banking Trend Analysis report provides an overview of the current state of play among digital-only banks across the world. It analyses the business models of 11 digital-only providers based on their successes, failures, strengths, weaknesses, and future prospects. Buy the report here.
Notably, digital banking was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of social and insurtech, according to GlobalData.
Of the top leading companies in the banking & payments industry, Nexi had the greatest increase in references for digital banking in Q2 2023, compared with the previous quarter. GlobalData identified 33 digital banking-related sentences in the company's filings - 0.8% of all sentences - and an increase of 200% in Q2 2023 compared with Q2 2022. Public Bankâ€™s mentions of digital banking rose by 100% to 33 and Bank of Barodaâ€™s by 100% to 31 and Grupo Financiero Banorteâ€™s by 600% to 30 and State Bank of Indiaâ€™s by 100% to 25.
GlobalDataâ€™s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for digital banking in Q2 2023 was 103.
For further understanding of GlobalData's Digital Banking Trend Analysis buy the report here.