Digital Banks - Dominican Republic

  • Dominican Republic
  • Net Interest Income in the Digital Banks market is projected to reach US$68.29m in 2024.
  • Net Interest Income is expected to show an annual growth rate (CAGR 2024-2028) of 1.37%, resulting in a market volume of US$72.11m by 2028.
  • In global comparison, most Net Interest Income will be generated in China (US$463.0bn in 2024).

Key regions: Singapore, Germany, United Kingdom, South Korea, China

 
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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

Analyst Opinion

We are still at the earliest stages of true FinTech as the future impact of cloud computing, IoT, artificial intelligence, and blockchain cannot even be estimated yet. Each year, tech companies are digging deeper into the financial services value chain and also creating new market structures in underbanked developing countries. Pure FinTech players are now sharing the market with some banks which provide new, digital-friendly banking services and integrate digital payments, microfinancing, and robo-advisor services into existing bank accounts.

Overview

  • Net Interest Income
  • Key Players
  • Deposits
  • Loans
  • ATMs & Bank Branches
  • Key Market Indicators
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