The global third-party banking software market size reached US$ 28.9 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 54.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.4% during 2023-2032.
The third-party banking software refers to a multi-channel application that performs numerous core banking functions, private wealth management and business intelligence. It is an integrated and customized software solution that outsources and provides end-to-end omnichannel management of banking operations. It is primarily used by commercial, retail and trading banks for improving their interbank network and streamlining their operations. The software aids in minimizing losses due to human errors, maintaining flexibility in operations, improving customer experience and enabling banks to have a competitive edge over other financial institutions.
Multi-Channel Banking Software
Business Intelligence Software
Others
Cloud-based
Information Security
Business Intelligence
Others
Retail and Trading Banks
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
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?
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?
The third-party banking software refers to a multi-channel application that performs numerous core banking functions, private wealth management and business intelligence. It is an integrated and customized software solution that outsources and provides end-to-end omnichannel management of banking operations. It is primarily used by commercial, retail and trading banks for improving their interbank network and streamlining their operations. The software aids in minimizing losses due to human errors, maintaining flexibility in operations, improving customer experience and enabling banks to have a competitive edge over other financial institutions.
Third-party Banking Software Market Trends:
Significant growth in the banking, financial services and insurance (BFSI) industry is one of the key factors driving the growth of the market. Furthermore, the integration of various cloud-computing applications with banking software is also providing a boost to the market growth. In comparison to the traditionally used manual methods, there is an increasing preference for computerized accounting for bookkeeping and monetary transactions. In line with this, consumers are also more inclined toward accessing their account details and performing financial transactions using their smartphones, laptop and tablets. Additionally, technological advancements, such as the incorporation of big data analytics in third-party banking software, is creating a positive impact on the market. These analytical tools aid in processing large amounts of data and making efficient business decisions to increase profitability and identify market trends, thus enabling access to valuable insights for effective decision-making. Other factors, including the emerging trend of customer-centric core banking and the growing demand for standardized processes in the banking sector, are projected to drive the market further.Key Market Segmentation:
The report provides an analysis of the key trends in each sub-segment of the global third-party banking software market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, deployment type, application and end-user.Breakup by Product:
Core Banking SoftwareMulti-Channel Banking Software
Business Intelligence Software
Others
Breakup by Deployment Type:
On-premisesCloud-based
Breakup by Application:
Risk ManagementInformation Security
Business Intelligence
Others
Breakup by End-User:
Commercial BanksRetail and Trading Banks
Breakup by Region:
North AmericaUnited States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Accenture, Capgemini, Deltek, IBM, Infosys, Microsoft Corporation, NetSuite Inc., Oracle Corporation, SAP SE, Tata Consultancy Services, etc.Key Questions Answered in This 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?
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?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Indicators
2 Scope and Methodology
4 Introduction
5 Global Third-party Banking Software Market
6 Market Breakup by Product
7 Market Breakup by Deployment Type
8 Market Breakup by Application
9 Market Breakup by End-User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Accenture
- Capgemini
- Deltek
- IBM
- Infosys
- Microsoft Corporation
- NetSuite Inc.
- Oracle Corporation
- SAP SE
- Tata Consultancy Services
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 28.9 Billion |
| Forecasted Market Value ( USD | $ 54.8 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
