Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. The report also offers information on several market vendors, including Accenture Plc, Capgemini Services SAS, Fidelity National Information Services Inc., Fiserv Inc., Infosys Ltd., International Business Machines Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., and Temenos AG among others.
Vendors are deploying organic and inorganic growth strategies to compete in the market.
Accenture Plc - In January 2020, the company collaborated with InterContinental Hotels Group to provide a solution that uses augmented and virtual reality to reinvent the event planning experience
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
- Segmentation by End-user:
- Retail users:
- The third-party banking software market vendors should focus on grabbing business opportunities from the retail users segment as it accounted for the largest market share in the base year.
- Banks and other financial institutions are focusing on the development of more secure websites as well as software applications to cater to the need of retail users, which is estimated to be a key driver for the growth in the adoption of third-party banking software in retail users segment.
- Corporate users
- Segmentation by Deployment:
- On-premises:
- In terms of deployment, the on-premises segment is expected to generate maximum revenue during the forecast period.
- On-premise third-party banking software is considered highly secure as it is managed and maintained by enterprises in the banking industry that is using it. Moreover, enterprises have complete control over their on-premises solution, which allows them to provide restricted access.
- Cloud-based
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Regional Market Outlook
Europe will register the highest growth rate of 33% among the other regions. Therefore, the third-party banking software market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
UK, Germany, and France are the key markets for third-party banking software in Europe. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South American regions.
The growth in the banking industry will facilitate the third-party banking software market growth in Europe over the forecast period.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Trends Driving the Global Third-Party Banking Software Market
- Third-Party Banking Software Market Driver:
- Growing use of digital payment solutions:
Various enterprises in the banking industry across the globe are offering digital payment solutions to improve day-to-day processes and gain a competitive advantage over their rivals. Moreover, digital payments are expected to constitute almost 90% of the total money spent in Canada alone by 2030. With the growth in digital payment platforms, the demand for third-party banking software will also increase, as it will help enterprises to manage their digital payment platforms. Therefore, with the increase in digital payments, the demand for third-party banking software is also expected to increase during the forecast period.
- Third-Party Banking Software Market Trend:
- Incorporation of analytics into third-party banking software:
Customers are embracing mobile devices and digital technologies to interact with enterprises and access banking services. This has led to the exponential growth of customer data with the enterprises in the banking industry. The data that is gathered by these enterprises can be analyzed, which will empower them to make smarter and faster decisions to improve efficiencies throughout the business. Hence, it is encouraging enterprises to opt for third-party banking software with analytics. It helps enterprises in driving profitability, improving decision-making, reducing risk, gaining valuable customer insight, and optimizing performance. These factors are encouraging various enterprises to offer analytics solutions with third-party banking software.
Find additional information about various other market drivers & Trends mentioned in our FREE sample report.
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Third-Party Banking Software Scope
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Decelerate at a CAGR of 10% |
Market growth 2021-2025 |
USD 3.04 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.52 |
Regional analysis |
Europe, North America, APAC, South America, and MEA
|
Performing market contribution |
Europe at 33% |
Key consumer countries |
US, UK, China, Germany, France, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Accenture Plc, Capgemini Services SAS, Fidelity National Information Services Inc., Fiserv Inc., Infosys Ltd., International Business Machines Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., and Temenos AG |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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