Third Party Banking Software Market by Applications (Risk Management, Business Intelligence, Information Security, and Training & Consulting Solutions), Product Types (Private Wealth Management Software, Core Banking Software, BI Software, and Multi-channel Banking Software), Deployments (On-premise and Cloud-based), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global third party banking software market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the wide use of digital payment solutions, rapid digitalization in the banking sector, and effective performance of banking operations.
Third-party banking software are range of integrated solutions that facilitate multi-channel applications in numerous banking activities. These software aid in effective execution and performance of core banking functions and ensure ease management of private wealth. Using these software solutions, a banking unit can assess situations or positions to provide better and accurate financial transaction with the help of business intelligence solution. Widely available as integrated and customized software solution, these solutions are mainly used by several end-users such as retail, corporates, and trading banks that help in enhancing inter-banking network. Moreover, the software offer flexibility in operations, enhancing consumers’ experience, and accurate financial services.
Market Trends, Drivers, Restraints, and Opportunities
- Rising needs for regular update of software used in the banking sector to enhance secured and hassle-free transaction for consumers is expected to boost the market in the coming years.
- Rapid implementation of online banking and mobile banking by customers as well as wide access to financial actions using smart gadgets such as laptops, smartphones, and tablets present a key driver of the market
- Increasing demand for advanced software, risk-free solutions, and data-driven platforms for secured payment methods is another key factor fueling the market.
- High cost of software installation and issues concerning to information security are major challenges that can hamper the market growth during the forecast period.
- Availability of banking software in secured platforms and the rapid expansion of cloud-based techniques for financial management are anticipated to create several market opportunities in the coming years.
Scope of the Report
The report on the global third party banking software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Third Party Banking Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Applications (Risk Management, Business Intelligence, Information Security, and Training & Consulting Solutions), Product Types (Private Wealth Management Software, Core Banking Software, BI Software, and Multi-channel Banking Software), and Deployments (On-premise and Cloud-based) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Microsoft; IBM; TCS; Infosys; Oracle; Cap Gemini; Accenture; NetSuite Inc.; Deltek Inc.; COA Solutions; Epicor Software Corp.; Exact Software; Infor; Lawson Software Inc.; and Sage Group. |
Market Segment Insights
Risk management segment to grow at a rapid pace
Based on applications, the global third party banking software market is divided into risk management, business intelligence, information security, and training & consulting solutions. The risk management segment is expected to grow at a rapid pace during the forecast period owing to the wide use of the software to reduce or minimize any fraudulent process in payment or any financial transactions in the banking system. However, the business intelligence segment is anticipated to hold a key share of the market in the coming years owing to increasing need to understand the consumers’ needs and wants along with easy handling issues related to transactions using the information using business intelligence. This leads to empower enterprises to make informed and effective decisions.
Multi-channel banking software segment to expand at a considerable CAGR
On the basis of product types, the market is segmented into private wealth management software, core banking software, BI software, and multi-channel banking software. The multi-channel banking software is projected to expand at a considerable CAGR during the forecast period owing to effective implementation of business decision through effective use of analytical tools for large data processing. These analytical tools help in easy evaluation of data information, which result in finding better business operation models.
Innovative cloud platforms drive the cloud-based segment
Based on deployments, the global third party banking software market is bifurcated into on-premise and cloud-based. The cloud-based segment is anticipated to hold a large market share in the coming years owing to rapid emergence of innovative cloud platforms and availability of cost-effective medium for data storage especially among large enterprises. Moreover, increasing demand for effective computerized accounting for bookkeeping and financial transactions further boosts the segment.
North America to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the presence of key global players offering innovative solutions and well-establishment of the banking sector in the region. Moreover, growing R&D programs and increasing acceptance of advanced technology and service solution in the banking sector are likely to push the regional market expansion.
Segments
The global third party banking software market has been segmented on the basis ofApplications
- Risk management
- Business intelligence
- Information security
- Training
- Consulting solutions
- Private Wealth Management Software
- Core Banking Software
- BI Software
- Multi-channel Banking Software
- On-premise
- Cloud-based
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Microsoft
- IBM
- TCS
- Infosys
- Oracle
- Cap Gemini
- Accenture
- NetSuite Inc.
- Deltek Inc.
- COA Solutions
- Epicor Software Corp.
- Exact Software
- Infor
- Lawson Software Inc.
- Sage Group
Competitive Landscape
Key players competing in the global third party banking software market are Microsoft; IBM; TCS; Infosys; Oracle; Cap Gemini; Accenture; NetSuite Inc.; Deltek Inc.; COA Solutions; Epicor Software Corp.; Exact Software; Infor; Lawson Software Inc.; and Sage Group. Some of these key players engage in product launching, production capacity expansion, and entering into partnership to enhance their market position.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Third Party Banking Software Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Third Party Banking Software Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Third Party Banking Software Market - Supply Chain
4.5. Global Third Party Banking Software Market Forecast
4.5.1. Third Party Banking Software Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Third Party Banking Software Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Third Party Banking Software Market Absolute $ Opportunity
5. Global Third Party Banking Software Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Third Party Banking Software Market Size and Volume Forecast by Applications
5.3.1. Risk management Business intelligence Information security Training Consulting solutions
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Third Party Banking Software Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Third Party Banking Software Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Third Party Banking Software Demand Share Forecast, 2019-2026
7. North America Third Party Banking Software Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Third Party Banking Software Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Third Party Banking Software Market Size and Volume Forecast by Applications
7.4.1. Risk management Business intelligence Information security Training Consulting solutions
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Third Party Banking Software Demand Share Forecast, 2019-2026
8. Latin America Third Party Banking Software Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Third Party Banking Software Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Third Party Banking Software Market Size and Volume Forecast by Applications
8.4.1. Risk management Business intelligence Information security Training Consulting solutions
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Third Party Banking Software Demand Share Forecast, 2019-2026
9. Europe Third Party Banking Software Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Third Party Banking Software Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Third Party Banking Software Market Size and Volume Forecast by Applications
9.4.1. Risk management Business intelligence Information security Training Consulting solutions
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Third Party Banking Software Demand Share Forecast, 2019-2026
10. Asia Pacific Third Party Banking Software Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Third Party Banking Software Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Third Party Banking Software Market Size and Volume Forecast by Applications
10.4.1. Risk management Business intelligence Information security Training Consulting solutions
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Third Party Banking Software Demand Share Forecast, 2019-2026
11. Middle East & Africa Third Party Banking Software Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Third Party Banking Software Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Third Party Banking Software Market Size and Volume Forecast by Applications
11.4.1. Risk management Business intelligence Information security Training Consulting solutions
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Third Party Banking Software Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Third Party Banking Software Market: Market Share Analysis
12.2. Third Party Banking Software Distributors and Customers
12.3. Third Party Banking Software Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Microsoft IBM TCS Infosys Oracle Cap Gemini
Applications
- Risk management
- Business intelligence
- Information security
- Training
- Consulting solutions
- Private Wealth Management Software
- Core Banking Software
- BI Software
- Multi-channel Banking Software
- On-premise
- Cloud-based
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key players competing in the global third party banking software market are Microsoft; IBM; TCS; Infosys; Oracle; Cap Gemini; Accenture; NetSuite Inc.; Deltek Inc.; COA Solutions; Epicor Software Corp.; Exact Software; Infor; Lawson Software Inc.; and Sage Group. Some of these key players engage in product launching, production capacity expansion, and entering into partnership to enhance their market position.
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