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Banking BPS Market | Growing Adoption of E-Banking Operations and Banking Automation

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Banking BPS Market | Growing Adoption of E-Banking Operations and Banking Automation

October 01
07:35 2019
Banking BPS Market | Growing Adoption of E-Banking Operations and Banking Automation

Banking BPS Market
Banking BPS Market Size, Application, Product Type, Competitive Landscape & Regional Forecast 2025 that includes detailed analysis, Competitive landscape, forecast and strategies. The report will help user gain market insights, future trends and growth prospects for forecast period of 2019-2025.

HTF MI added a new research study in its database with title ‘Global Banking BPS Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025’ that includes detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Europe or Asia and important players/vendors such as Atos SE (France), Avaloq group AG (Switzerland), Capgemini SE (France), Cognizant Technology Solutions Corporation (United States), Concentrix Corporation (United States), Firstsource Solutions Limited (India), Fidelity National Information Services, Inc. (FIS) (United States), Genpact Limited (Bermuda), HCL Technologies Limited. The report will help user gain market insights, future trends and growth prospects for forecast period of 2019-2025.

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Summary

Global Banking BPS Market Overview:

Over the past couple of decades, digitalization, automation, and centralization in the banking sector have been increased robustly over the past couple of decades. In addition to this, the growing prevalence of E-commerce activities has increased a need to outsource business process services (BPS) to the information technology firms to employ automation in banking operations. Also, the adoption of banking BPS has also reduced the manpower required which in turn has fuelled quality and affordability of the banking services. Banking BPS is mainly adopted by the Tier I banks, where these firms outsource a number of banking services to the third parties to increase feasibility and efficiency in banking services. These services also minimize the risk as well as improved consumer satisfaction. Some of the key players profiled in the study are Atos SE (France), Avaloq group AG (Switzerland), Capgemini SE (France), Cognizant Technology Solutions Corporation (United States), Concentrix Corporation (United States), Firstsource Solutions Limited (India), Fidelity National Information Services, Inc. (FIS) (United States), Genpact Limited (Bermuda), HCL Technologies Limited (India), Hexaware Technologies Limited (India), Infosys Limited (India) and NIIT Limited (India). According to Market Analyst at HTF MI, the Global Banking BPS market may see a growth rate of 9.19% and would reach the market size of USD18070.02 Million by 2024.

On the basis of geography, the market of Banking BPS has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North Amercia region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Mortgage and Loan BPS, the sub-segment i.e. Origination Services BPS will boost the Banking BPS market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Core Banking BPS will boost the Banking BPS market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Securities Processing BPS, the sub-segment i.e. Portfolio Services BPS will boost the Banking BPS market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Payment Services BPS, the sub-segment i.e. Cheque Processing BPS will boost the Banking BPS market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.

Market Drivers

Provides Flexibility and Operational Simplicity to the Banks
Increasing Digitalization and Industrialization across the Globe

Market Trend

Growing Adoption of E-Banking Operations and Banking Automation
Rising Strategic Alliances of IT companies with Tier I Banks

Restraints

Robust Competitive Rivalry Amongst the World Leading Banks
Lack of Automation Infrastructure from Underdeveloped Economies might Stagnate the Demand

Opportunities

Continues Technological Advancements and Growing Demand for Technology-Based Banking Solution Providers
Growing Number of Banking Business Sevice Process Providers and Minimized Prices

Challenges

Lack of Technologically & Financial Expert Professional with respect to Escalating Need

Major Market Developments:

On April 16, 2019, Global fintech leader Avaloq has launched ‘avaloq.one’ which is a new, intuitive and collaborative platform to help the financial services industry in their efforts working more effectively with fintechs. ‘avaloq.one’ is aiming seamlessly to connect leading fintechs and their solutions, to Avaloq’s global financial clients. This solution will speed up and streamlines implementation for all parties through standardized Open Application Program Interfaces (APIs), with fintechs benefiting from a partnership with the ability to self-onboard to the platform.
On May 16, 2019, a global leader in digital transformation, ‘Atos’ has launched its brand new Hardware Security Module (HSM) for IoT, a high-performance security device designed to protect IoT ecosystems through cryptographic features. The new HSM, part of the Horus portfolio, combines ‘as-a-Service’ access, centralized key management system and IoT security services for a fully-integrated solution.

Target Audience:

Banking BPS Service Providers, Banking Industry Associations, Financial Research Organizations, Banking Organizations, FinTech Companies, Government Agencies and Others

Major Objectives Focused through this Study
• To define, describe, and forecast the Global Banking BPS market on the basis of product [Front Office (Customer Management Services, Document Management, Sales and Marketing Outsourcing), Middle Office (Insurance BPS, Banking BPS, Healthcare Providers BPS) and Back Office (F&A Outsourcing, Procurement)] , application [], key regions and end user
• To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
• To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
• Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
• To provide market size for various segments of the Banking BPS market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
• To strategically profile the key players and analyzing their market shares and core competencies in the Banking BPS industry
• To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market

Available Customization:

Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are SLK Software Services Pvt. Ltd. (India), Tata Business Support Services (India), Tata Consultancy Services (India), Wipro Limited (India) and WNS Global Services (India).
** Confirmation on availability of data would be informed prior purchase

While framing the research framework, major and emerging players operating in the Banking BPS market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.

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Strategic Points Covered in Table of Content of Global Banking BPS Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025 Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Global Banking BPS Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025market. (Introduction, Scope of the Report)Chapter 2: Exclusive Summary – the basi

….Continued

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2206251-global-banking-bps-market-1

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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