The banking industry has experienced massive changes, which has led to the customization of its working methods. Over the past few decades, the banking industry is progressively shifting attention toward third-party banking software because of declining profits, changing customer demands, and the need for flexible operations in terms of time. Several banks are making are adopting third-party banking software systems over traditional ones. With conventional legacy systems, banks often face challenges in the implementation of new features and their integration. Also, any minor change in one application causes difficulties in other parts of the application; thud, banks are shifting toward third-party software to eradicate these complications.
MARKET DYNAMICS
Demand for an increase in operational efficiency and productivity in all industry verticals, including the banking industry, is the prime factor driving the growth of the third-party banking software market. However, the high costs of software and information security are the major factors restraining the growth of the third-party banking software market. Besides, increasing demand for regulated activities in the banking sector and the rising trend of customer-centric core banking are fueling the growth of the third-party banking software market.
MARKET SCOPE
The "Global Third Party Banking Software Market Analysis to 2028" is a specialized and in-depth study of the third party banking software market with a special focus on the global market trend analysis. The report aims to provide an overview of third party banking software market with detailed market segmentation by product type, application. The global third party banking software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading third party banking software market players and offers key trends and opportunities in the third party banking software market.
MARKET SEGMENTATION
The global third party banking software market is segmented on the basis of product type, application. On the basis of product type, the market is segmented as core banking software, multi-channel banking software, BI software, private wealth management software. On the basis of application, the market is segmented as risk management, information security, business intelligence, training and consulting solutions.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global third party banking software market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The third party banking software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting third party banking software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Third party banking software market in these regions.
MARKET PLAYERS
The reports cover key developments in the third party banking software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from third party banking software market are anticipated to lucrative growth opportunities in the future with the rising demand for third party banking software market. Below mentioned is the list of few companies engaged in the third party banking software market.
The report also includes the profiles of key third party banking software market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ACCENTURE PLC
- CAPGEMINI SE
- DELTEK, INC.
- IBM CORPORATION
- INFOSYS LIMITED
- MICROSOFT CORPORATION
- NETSUITE INC.
- ORACLE CORPORATION
- SAP SE
- TATA CONSULTANCY SERVICES LIMITED.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.