Global Third-party Banking Software Market
Dublin, Oct. 07, 2022 (GLOBE NEWSWIRE) — The “Third-party Banking Software Market Size, Share & Trends Analysis Report by Product Type, by Deployment (On-premise, Cloud), by Application, by End-use (Retail Banks, Commercial Banks), by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global third-party banking software market size is expected to reach USD 47.90 billion by 2030, growing at a CAGR of 7.9% from 2022 to 2030, according to this study conducted. The growing prevalence of online banking solutions worldwide to improve customer experience is anticipated to drive the industry expansion. In addition, the rapid shift from paper-based legacy methods to digitized and advanced methods for process standardization is also acting as fuel to the growth.
The strategic partnerships and acquisitions by prominent market players to overcome the problems in the ecosystem, such as reducing the overall risk and enhancement of product offerings, are expected to accentuate the growth.
For instance, in June 2022, Kamakura Corporation, situated in the U.S., was bought by SAS Institute, Inc., a global leader in Artificial Intelligence (AI) and analytics. Kamakura Corporation offers specialist software, information, and consultancy to assist financial businesses across the board. The acquisition was an expansion of the already made significant investments in SAS Institute, Inc.’s integrated solutions, and cloud-ready risk management platform.
Moreover, the rapid development in the Banking, Financial Services, and Insurance (BFSI) sector is expected to increase the need for third-party banking software. For instance, in June 2022, the Bank of England granted a full banking license to Kroo, a U.K.-based digital bank. This license has enabled Kroo to offer overdrafts, savings, and loan products in addition to the existing services to its customers.
The outbreak of the COVID-19 pandemic is expected to play a vital role in driving the growth of the third-party banking software market over the forecast period. In the wake of the pandemic, the rising awareness of e-banking and its applications is expected to create opportunities for the market. In line with this, the snowballing of digital payment platforms is expected to raise the demand for third-party banking software hence, fueling the market growth.
Third-party Banking Software Market Report Highlights
The wealth management software segment is expected to witness the fastest growth over the forecast period. The rising awareness of managing finances and wealth creation among millennials and Genz is one of the major attributes of the growth
The cloud segment is expected to witness the fastest growth over the forecast period. The growth is attributable to several advantages offered by the cloud, such as reduced infrastructure costs and improved flexibility
The risk management segment dominated the market in 2021. This dominance is attributable to the fact that banks and financial institutions are continuously looking for ways to mitigate losses and increase profitability
The commercial banks segment is expected to grow at the fastest rate. The implementation of strict regulatory compliance by commercial banks to save consumers’ interest is expected to increase the need for the deployment of more secure third-party banking software
North America dominated the market over the forecast period. This growth is attributable to the presence of some of the largest players in the region such as International Business Machines Corporation and Microsoft Corporation
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Third-party Banking Software Industry Outlook
Chapter 4 Investment Landscape Analysis
Chapter 5 FinTech Industry Highlights
Chapter 6 Third-party Banking Software Product Type Outlook
Chapter 7 Third-party Banking Software Deployment Outlook
Chapter 8 Third-party Banking Software Application Outlook
Chapter 9 Third-party Banking Software End-Use Outlook
Chapter 10 Third-party Banking Software Regional Outlook
Chapter 11 Competitive Analysis
Chapter 12 Competitive Landscape
Companies Mentioned
Microsoft Corporation
International Business Machines (IBM) Corporation
Oracle Corporation
SAP SE
Tata Consultancy Services (TCS)
Infosys Ltd.
Capgemini SE
Accenture plc
FIS, Inc.
Fiserv, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/x5rxg6
Attachment
Global Third-party Banking Software Market
Yahoo Finance Live anchors discuss the rise in stock for DraftKings after reports surface that the sports betting company is working towards closing a deal with ESPN.
Costco offers a very simple proposition to its members. Basically, Costco offers no frills — its stores aren't just called warehouses, they actually are warehouses — and items are basically just stacked on pallets. Costco also puts relentless pressure on its vendors to squeeze out every penny of cost from each item.
Even if the economy falls into a deep recession, these cash-generating companies are going to be fine.
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for…
Dividend investors concerned about the long-term viability of Altria's traditional tobacco business can find global answers.
Novavax first teamed up with Fujifilm in 2020 to help get its Covid-19 vaccine through clinical trials.
Yahoo Finance Live anchors discuss how stock futures are trading after September jobs report data is released.
Everyone knows that you should buy low and sell high if you want to turn a profit in the markets. The trick is finding the bottom, to know when to buy. Jim Cramer, the well-known host of CNBC’s ‘Mad Money’ program, sees the market bottom hitting in the next couple of weeks, making the end of October the right time for investors to buy in. Referring to some recent predictions by market technician Larry Williams, Cramer says, “The bear market is more or less… toast and, even if the current rally s
Oil prices have been all over the place this year. WTI, the primary U.S. oil price benchmark, started 2022 at around $75 a barrel before rocketing over $120 a barrel following Russia's invasion of Ukraine. The move could keep a floor under crude prices and potentially push them higher depending on demand and other supplies.
AMD stock is hitting 52-week lows as it reports disappointing preliminary revenue results. Here's when to buy the chipmaker's shares.
Tesla stock is forming a bearish head-and-shoulders pattern. And with CEO Elon Musk likely selling more stock to fund his Twitter purchase, shares of the electric-vehicle giant might have further to fall.
The move comes amid growing pushback on the program.
Tesla, NIO, Li Auto, XPeng and Nikola are part of the Zacks top Analyst Blog.
AMD (NASDAQ: AMD) is the latest semiconductor company to report trouble with the PC (personal computer) market. After more than two years of pandemic-fueled spending on work-from-home equipment, the consumer is getting tapped out on desktop and laptop computers.
Tilray Brands, Inc. (TLRY) delivered earnings and revenue surprises of -33.33% and 1.59%, respectively, for the quarter ended August 2022. Do the numbers hold clues to what lies ahead for the stock?
Few people command the attention of Wall Street professionals and everyday investors quite like billionaire Warren Buffett. Since taking the reins of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) in 1965, the Oracle of Omaha, as he's come to be known, has created more than $615 billion in value for shareholders and generated an aggregate return on his company's Class A shares (BRK.A) of 3,641,613%. In other words, there's plenty of reason for Wall Street and investors to pay attention to what Buffett is buying, selling, and holding.
In this article we are going to estimate the intrinsic value of United Parcel Service, Inc. ( NYSE:UPS ) by estimating…
For many, the main point of investing is to generate higher returns than the overall market. But in any portfolio…
VALE S.A. (VALE) closed the most recent trading day at $14.80, moving +1.09% from the previous trading session.
The past two years have been downright awful for mortgage real estate investment trusts (REITs). First, the COVID-19 pandemic caused the mortgage-backed securities market to freeze, triggering a wave of margin calls. The margin calls caused every mortgage REIT to sell parts of its portfolio at fire-sale prices to raise capital.
About Author
