SOHO Mobile Banking Market Report and Forecast 2025-2034

The global SOHO mobile banking market attained a value of nearly USD 733.38 Million in 2024. The market is projected to grow at a CAGR of 9.30% between 2025 and 2034 to reach a value of around USD 1.78 billion by 2034.

Key Trends in the Market

SOHO mobile banking stands for small office and home office mobile banking. This system enables computing devices at homes or remote offices to connect to a centralised corporate network in order to access various shared resources.

• SOHO mobile banking offers convenience and easy operability, due to which its usage for improving work efficiency across businesses is rising.
• Rapid expansion of SOHO firms, supported by the economic growth of emerging countries and technological advancements across corporate institutions, is further fuelling the SOHO mobile banking market growth.
• The rapid adoption of tablets and smartphones is increasing the accessibility to multi-banking applications, which is a crucial trend in the market for SOHO mobile banking.
• SOHO mobile banking is cost-effective as it automates customer service and eliminates labour requirements, which is expected to boost its adoption among enterprises and individuals.

Market Segmentation

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Market Breakup by Services

• Payment Wallets
• Insurance
• Trading
• Portfolio Management
• Loans and Financing

Market Breakup by Platform

• Mobile App
• Web-Portal
• Tele-Services

Market Breakup by End User

• Individual
• Enterprise

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Share by Services

Payment wallets are likely to grow at an accelerated rate in the forecast period. This can be attributed to the easy accessibility, easy money loading feature, timely payment assurance, and split bill facility, among other advantages offered by payment wallets. In addition, the heightening adoption of smartphones is accelerating fund transfer processes, surging the demand for payment wallets.

Meanwhile, trading accounts for a considerable share in the SOHO mobile banking market, as it offers complete control of investments.

Market Share by Platform

The Asia Pacific accounts for a significant share of the market for SOHO mobile banking. Growing expansion of offices and mid-sized businesses across emerging economies such as India and China are offering lucrative opportunities to the market.

Meanwhile, North America is likely to witness a steady growth in the forecast period owing to the well-established banking infrastructure across the United States.

Competitive Landscape

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global SOHO mobile banking market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

Flywire Corporation

Flywire Corporation is a global payments enablement and software company offering solutions to various sectors, including healthcare, travel, and education, among others. It was founded in 2009 and is headquartered in Massachusetts, the United States.

Remitly, Inc.

Remitly, Inc. is an online remittance service provider which offers international money transfers to various countries across the globe. It was founded in 2011 and is headquartered in Washington, the United States.

JPMorgan Chase & Co.

JPMorgan Chase & Co. is a leading multinational financial services company which offers financial solutions to corporations, governments, and institutions, among others. The company was established in 2000 and is headquartered in New York, the United States.

Other market players include Fin Technologies, Inc, Robinhood Financial LLC, Chime Financial, Inc., Affirm, Inc., and Avant, LLC., among others.