Small Business Digital Banking Platforms: International Edition

Digital banking, in particular mobile banking, is playing a role in driving financial inclusion by making it easier for consumers and small business owners to access financial services regardless of their location or financial status and by improving the economics of serving any customer. In particular, digital banking is powering the migration from cash to digital payments and access to credit. For many micro businesses, digital banking allows them to easily move from a transaction account to a saving account and credit. To further access, digital banking can be embedded in superapps and wallets powered by open payments and can be delivered by agents/merchants. Moreover, it will facilitate the transition to central bank digital currencies (CBDCs) in countries that adopt CBDCs.

In the International edition of Celent’s Small Business Digital Banking report series, Celent examines a wide variety of tech vendors that are enabling financial institutions (FIs) in both mature and emerging markets to raise their digital bar and contribute further to economic growth and financial inclusion.

To help FIs better understand the vendor landscape and compare vendors, Celent developed its ABC methodology, which positions and awards vendors across three dimensions: Advanced Technology, Breadth of Functionality, and Customer Base and Support. Our methodology offers unrivaled comparative analysis across these critical decision dimensions. The figure below arrays the vendors that are included in this Edition along the A, B, and C (bubble) dimensions.

Leveraging Celent’s VendorMatch to gather extensive RFI information from each vendor, this Celent report evaluates 11 vendors: Backbase, BPC, CR2, Diasoft, i-exceed, Infocorp, Infosys Finacle, Oracle, SAP Fioneer, Software Group, and TCS.