Third-party Banking Software Market by Product Type, Distribution Channel, End User 2024-2032
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The global third-party banking software market size reached US$ 28.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 54.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.2% during 2024-2032. More Info:- https://www.imarcgroup.com/third-party-banking-software-market
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Third-party Banking Software Market by Product Type, Distribution Channel, End User 2024-2032
- 1. Global Third-party Banking Software Market Research and Forecast Report 2024-2032 Format: PDF+EXCEL © 2023 IMARC All Rights Reserved
- 2. About IMARC Group International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.
- 3. Report Highlight and Description According to the latest report by IMARC Group, titled " Third-party Banking Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the global third-party banking software market size reached US$ 28.9 Billion in 2023. Factors Affecting the Growth of Third-Party Banking Software Industry: Digital Transformation in Banking: The swift evolution towards digitalization within the banking industry stands out as a key catalyst for the growth of the third-party banking software market. Conventional banking establishments are progressively acknowledging the imperative to adjust to evolving consumer demands and technological progress. They are seeking assistance from third-party software providers to revamp their operations and introduce cutting-edge digital services. This transition encompasses the integration of mobile banking, online account administration, and digital payment options. Consequently, third-party software vendors are seizing this opportunity by providing solutions that empower banks to streamline their workflows, elevate customer interaction, and sustain competitiveness in the digital era.
- 4. Report Highlight and Description Regulatory Compliance and Risk Management: Stringent regulatory requirements and the ever-evolving landscape of compliance have put immense pressure on financial institutions. To navigate this complex environment, banks are turning to third-party software solutions that specialize in regulatory compliance and risk management. These solutions help banks stay in compliance with constantly changing regulations such as anti-money laundering (AML) and know-your-customer (KYC) rules. Additionally, they provide advanced analytics and risk assessment tools, enabling banks to proactively identify and mitigate potential risks. The growing need for robust compliance and risk management solutions has fueled the expansion of the third-party banking software market. Cost Efficiency and Scalability: Cost efficiency and scalability are critical considerations for banks aiming to optimize their operations. Third-party banking software offers a cost-effective alternative to developing in-house solutions. Banks can avoid the substantial expenses associated with developing, maintaining, and updating proprietary software by outsourcing these functions to specialized providers.
- 5. Report Highlight and Description Moreover, third-party solutions often offer scalability, allowing banks to adjust their software usage according to their needs, whether they are a small regional bank or a global financial institution. This flexibility allows banks to allocate resources more efficiently and focus on core banking activities while relying on third-party software for specialized functions. Request for a PDF sample of this report: https://www.imarcgroup.com/third - party-banking-software-market/requestsample
- 6. Report Description Global Third-party Banking Software Market Trends: The widespread adoption of customer-centric core strategies, along with the rising need to improve productivity and operational efficiency in the banking sector is majorly driving the third-party banking software market growth. Additionally, the increasing utilization of digital payment solutions and the incorporation of big data analytics into third-party banking software to process large amounts of data for making accurate business decisions and identify market trends are catalyzing the market growth. In line with this, the surging partnerships between regulated financial institutions and alternative financial companies are acting as another growth-inducing factor. Due to the proliferation of smartphones, consumers are increasing shifting toward computerized accounting for bookkeeping and monetary transactions. This, in turn, is facilitating the demand for sophisticated, risk-free, compliant, and data-driven software, like third-party banking software, which is creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 7.2% during 2024-2032. View Report TOC, Figures and Tables: https://www.imarcgroup.com/third-party-banking-software-market
- 7. Report Segmentation Breakup by Product: • Core Banking Software • Multi-Channel Banking Software • Business Intelligence Software • Others Breakup by Deployment Type: • On-premises • Cloud-based Breakup by Application: • Risk Management • Information Security • Business Intelligence
- 8. Report Segmentation • Others Breakup by End-User: • Commercial Banks • Retail and Trading Banks Breakup by Region: • North America • Asia-Pacific • Europe • Latin America • Middle East and Africa
- 9. Competitive Landscape with Key Players • Accenture • Capgemini • Deltek • IBM • Infosys • Microsoft Corporation • NetSuite Inc. • Oracle Corporation • SAP SE • Tata Consultancy Services
- 10. Key Questions Answered in the Report How has the global third-party banking software market performed so far and how will it perform in the coming years? What are the key regional markets? What has been the impact of COVID-19 on the global third-party banking software market? What is the breakup of the market based on the product? What is the breakup of the market based on the deployment type? What is the breakup of the market based on the application? What is the breakup of the market based on the end-user?
- 11. Key Questions Answered in the Report What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global third-party banking software market and who are the key players? What is the degree of competition in the industry?
- 12. Table of Contents 1 Preface 2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.3.1 Primary Sources 2.3.2 Secondary Sources 2.4 Market Estimation 2.4.1 Bottom-Up Approach 2.4.2 Top-Down Approach 2.5 Forecasting Methodology 3 Executive Summary 4 Introduction 4.1 Overview 4.2 Key Industry Trends 5 Global Third -party Banking Software Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast 6 Market Breakup by Product 6.1 Core Bank ing Sof tware 6.1.1 Mark et Trends 6.1.2 Mark et Forecast 6.2 Multi-Channel Bank ing Software 6.2.1 Mark et Trends 6.2.2 Mark et Forecast 6.3 Business Intelligence Sof tware 6.3.1 Mark et Trends 6.3.2 Mark et Forecast
- 13. Table of Contents 6.4 Others 6.4.1 Mark et Trends 6.4.2 Mark et Forecast 7 Market Breakup by Deployment Type 7.1 On-premises 7.1.1 Mark et Trends 7.1.2 Mark et Forecast 7.2 Cloud-based 7.2.1 Mark et Trends 7.2.2 Mark et Forecast 8 Market Breakup by Application 8.1 Risk Management 8.1.1 Mark et Trends 8.1.2 Mark et Forecast 8.2 Information Security 8.2.1 Market Trends 8.2.2 Mark et Forecast 8.3 Business Intelligence 8.3.1 Mark et Trends 8.3.2 Mark et Forecast 8.4 Others 8.4.1 Mark et Trends 8.4.2 Mark et Forecast 9 Market Breakup by End -User 9.1 Commercial Banks 9.1.1 Mark et Trends 9.1.2 Mark et Forecast 9.2 Retail and Trading Bank s 9.2.1 Mark et Trends 9.2.2 Mark et Forecast For more information, visit : https://www.imarcgroup.com/third -party-banking-software- market/toc
- 14. Disclaimer © 2023 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
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