The global banking & payments industry experienced a 56% drop in company filings mentions of digital banking in Q4 2023 compared with the previous quarter, with the highest share accounted for by Bank of America with 27% year-on-year decrease, according to GlobalData’s analysis of over 202 banking & payments company filings. GlobalData’s Banking & Payments: Filings Trends & Signals Q4 2023 report delves into earnings call transcripts and quarterly reports within the industry, extracting trends, signals, and comparative data to help businesses assess their performance, identify competitive intelligence, evaluate risks, and gain a comprehensive understanding of key industry events. Buy the report here.
Notably, digital banking was one of the most frequently referenced themes in Q4 2023, ranking highest in terms of mentions, ahead of ecommerce and metaverse, according to GlobalData.
Of the top leading companies in the banking & payments industry, Bank of America had the greatest increase in references for digital banking in Q4 2023, compared with the previous quarter. GlobalData identified 19 digital banking-related sentences in the company's filings - 0.6% of all sentences - and a decrease of 27% in Q4 2023 compared with Q4 2022. Discover Financial Services’s mentions of digital banking rose by 33% to 16 and State Bank of India’s by 100% to 10 and Bank of Nova Scotia’s by 50% to 9 and UBS Group’s by 25% to 9.
GlobalData’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 Q4 2023 was 100.
For further understanding of GlobalData's Banking & Payments: Filings Trends & Signals Q4 2023, buy the report here.
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