The Latin America, Middle East and Africa Banking System Software Market should witness market growth of 8.7% CAGR during the forecast period (2022-2028).
A further improvement in the customer experience and a rise in the degree of convenience for end users will result from implementing artificial intelligence (AI)in banking and financial services. AI technology shortens the time needed to collect Know Your Customer (KYC) data and eradicates the possibility of making mistakes. In addition, additional services and financial deals may be made available at the appropriate moment. Consumers are always looking for a more convenient experience. For instance, ATMs were successful because they allowed clients to access necessary services like money withdrawal and deposit even when banking institutionswere closed.
More innovation has only been spurred by this level of convenience. Consumers can now use their smartphones to set up bank accounts from the convenience of their own homes. Clients can avoid the inconvenience of going through the full process manually by using artificial intelligenceto automate eligibility for scenarios like asking for a credit orpersonal loan. Furthermore, AI-based software can speed up approval processes for services like loan disbursement. Additionally, AI banking aids in the precise collection of client data for error-free account setup, delivering a positive customer experience.
The growing domestic banking sector in the United Arab Emirates is governed by the central bank. The Central Bank establishes credit, monetary,and banking policy as well as oversees its application in a way that promotes the domestic economy and currency stability, all in conformity with the general policy of the state. It manages the UAE government's gold as well as foreign currency reserves, serves as the bank for regional financial institutions, and advocates the UAE government's economic interests before international financial bodies. Islamic banking has expanded dramatically in recent years, accounting for a sizable portion of the UAE's financial industry. These elements would support the growth of the regional market.
The Brazil market dominated the LAMEA Banking System Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $866.4 million by 2028. The Argentina market is experiencing a CAGR of 9.3% during (2022-2028). Additionally, The UAE market would display a CAGR of 8.5% during (2022-2028).
Based on Application, the market is segmented into Transaction Management, Credit & Lending, Risk & Compliance, Customer Relationship Management, Investment Management and Others. Based on Operating System, the market is segmented into Android, Windows, iOS and Others. Based on Deployment Mode, the market is segmented into On premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Component, the market is segmented into Software (Without Services) and Services. Based on Software (Without Services) Type, the market is segmented into Core Banking System Software, Corporate Banking System Software, Investment Banking System Software and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, SAP SE, Salesforce.com, Inc., Oracle Corporation, Tata Consultancy Services Ltd., Infosys Limited, Fiserv, Inc., Fidelity National Information Services, Inc., and Finastra Group Holdings Limited (Vista Equity Partners).
A further improvement in the customer experience and a rise in the degree of convenience for end users will result from implementing artificial intelligence (AI)in banking and financial services. AI technology shortens the time needed to collect Know Your Customer (KYC) data and eradicates the possibility of making mistakes. In addition, additional services and financial deals may be made available at the appropriate moment. Consumers are always looking for a more convenient experience. For instance, ATMs were successful because they allowed clients to access necessary services like money withdrawal and deposit even when banking institutionswere closed.
More innovation has only been spurred by this level of convenience. Consumers can now use their smartphones to set up bank accounts from the convenience of their own homes. Clients can avoid the inconvenience of going through the full process manually by using artificial intelligenceto automate eligibility for scenarios like asking for a credit orpersonal loan. Furthermore, AI-based software can speed up approval processes for services like loan disbursement. Additionally, AI banking aids in the precise collection of client data for error-free account setup, delivering a positive customer experience.
The growing domestic banking sector in the United Arab Emirates is governed by the central bank. The Central Bank establishes credit, monetary,and banking policy as well as oversees its application in a way that promotes the domestic economy and currency stability, all in conformity with the general policy of the state. It manages the UAE government's gold as well as foreign currency reserves, serves as the bank for regional financial institutions, and advocates the UAE government's economic interests before international financial bodies. Islamic banking has expanded dramatically in recent years, accounting for a sizable portion of the UAE's financial industry. These elements would support the growth of the regional market.
The Brazil market dominated the LAMEA Banking System Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $866.4 million by 2028. The Argentina market is experiencing a CAGR of 9.3% during (2022-2028). Additionally, The UAE market would display a CAGR of 8.5% during (2022-2028).
Based on Application, the market is segmented into Transaction Management, Credit & Lending, Risk & Compliance, Customer Relationship Management, Investment Management and Others. Based on Operating System, the market is segmented into Android, Windows, iOS and Others. Based on Deployment Mode, the market is segmented into On premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Component, the market is segmented into Software (Without Services) and Services. Based on Software (Without Services) Type, the market is segmented into Core Banking System Software, Corporate Banking System Software, Investment Banking System Software and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, SAP SE, Salesforce.com, Inc., Oracle Corporation, Tata Consultancy Services Ltd., Infosys Limited, Fiserv, Inc., Fidelity National Information Services, Inc., and Finastra Group Holdings Limited (Vista Equity Partners).
Scope of the Study
By Application
- Transaction Management
- Credit & Lending
- Risk & Compliance
- Customer Relationship Management
- Investment Management
- Others
By Operating System
- Android
- Windows
- iOS
- Others
By Deployment Mode
- On premise
- Cloud
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Component
- Software (Without Services)
- Core Banking System Software
- Corporate Banking System Software
- Investment Banking System Software
- Others
- Services
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Salesforce.com, Inc.
- Oracle Corporation
- Tata Consultancy Services Ltd.
- Infosys Limited
- Fiserv, Inc.
- Fidelity National Information Services, Inc.
- Finastra Group Holdings Limited (Vista Equity Partners)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Banking System Software Market, by Application
1.4.2 LAMEA Banking System Software Market, by Operating System
1.4.3 LAMEA Banking System Software Market, by Deployment Mode
1.4.4 LAMEA Banking System Software Market, by Organization Size
1.4.5 LAMEA Banking System Software Market, by Component
1.4.6 LAMEA Banking System Software Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Analyst's Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2019, Mar - 2023, Jan) Leading Players
Chapter 4. LAMEA Banking System Software Market by Application
4.1 LAMEA Transaction Management Market by Country
4.2 LAMEA Credit & Lending Market by Country
4.3 LAMEA Risk & Compliance Market by Country
4.4 LAMEA Customer Relationship Management Market by Country
4.5 LAMEA Investment Management Market by Country
4.6 LAMEA Others Market by Country
Chapter 5. LAMEA Banking System Software Market by Operating System
5.1 LAMEA Android Market by Country
5.2 LAMEA Windows Market by Country
5.3 LAMEA iOS Market by Country
5.4 LAMEA Other Operating System Market by Country
Chapter 6. LAMEA Banking System Software Market by Deployment Mode
6.1 LAMEA On premise Market by Country
6.2 LAMEA Cloud Market by Country
Chapter 7. LAMEA Banking System Software Market by Organization Size
7.1 LAMEA Large Enterprises Market by Country
7.2 LAMEA Small & Medium Enterprises Market by Country
Chapter 8. LAMEA Banking System Software Market by Component
8.1 LAMEA Software (Without Services) Market by Country
8.2 LAMEA Banking System Software Market by Software (Without Services) Type
8.2.1 LAMEA Core Banking System Software Market by Country
8.2.2 LAMEA Corporate Banking System Software Market by Country
8.2.3 LAMEA Investment Banking System Software Market by Country
8.2.4 LAMEA Others Market by Country
8.3 LAMEA Services Market by Country
Chapter 9. LAMEA Banking System Software Market by Country
9.1 Brazil Banking System Software Market
9.1.1 Brazil Banking System Software Market by Application
9.1.2 Brazil Banking System Software Market by Operating System
9.1.3 Brazil Banking System Software Market by Deployment Mode
9.1.4 Brazil Banking System Software Market by Organization Size
9.1.5 Brazil Banking System Software Market by Component
9.1.5.1 Brazil Banking System Software Market by Software (Without Services) Type
9.2 Argentina Banking System Software Market
9.2.1 Argentina Banking System Software Market by Application
9.2.2 Argentina Banking System Software Market by Operating System
9.2.3 Argentina Banking System Software Market by Deployment Mode
9.2.4 Argentina Banking System Software Market by Organization Size
9.2.5 Argentina Banking System Software Market by Component
9.2.5.1 Argentina Banking System Software Market by Software (Without Services) Type
9.3 UAE Banking System Software Market
9.3.1 UAE Banking System Software Market by Application
9.3.2 UAE Banking System Software Market by Operating System
9.3.3 UAE Banking System Software Market by Deployment Mode
9.3.4 UAE Banking System Software Market by Organization Size
9.3.5 UAE Banking System Software Market by Component
9.3.5.1 UAE Banking System Software Market by Software (Without Services) Type
9.4 Saudi Arabia Banking System Software Market
9.4.1 Saudi Arabia Banking System Software Market by Application
9.4.2 Saudi Arabia Banking System Software Market by Operating System
9.4.3 Saudi Arabia Banking System Software Market by Deployment Mode
9.4.4 Saudi Arabia Banking System Software Market by Organization Size
9.4.5 Saudi Arabia Banking System Software Market by Component
9.4.5.1 Saudi Arabia Banking System Software Market by Software (Without Services) Type
9.5 South Africa Banking System Software Market
9.5.1 South Africa Banking System Software Market by Application
9.5.2 South Africa Banking System Software Market by Operating System
9.5.3 South Africa Banking System Software Market by Deployment Mode
9.5.4 South Africa Banking System Software Market by Organization Size
9.5.5 South Africa Banking System Software Market by Component
9.5.5.1 South Africa Banking System Software Market by Software (Without Services) Type
9.6 Nigeria Banking System Software Market
9.6.1 Nigeria Banking System Software Market by Application
9.6.2 Nigeria Banking System Software Market by Operating System
9.6.3 Nigeria Banking System Software Market by Deployment Mode
9.6.4 Nigeria Banking System Software Market by Organization Size
9.6.5 Nigeria Banking System Software Market by Component
9.6.5.1 Nigeria Banking System Software Market by Software (Without Services) Type
9.7 Rest of LAMEA Banking System Software Market
9.7.1 Rest of LAMEA Banking System Software Market by Application
9.7.2 Rest of LAMEA Banking System Software Market by Operating System
9.7.3 Rest of LAMEA Banking System Software Market by Deployment Mode
9.7.4 Rest of LAMEA Banking System Software Market by Organization Size
9.7.5 Rest of LAMEA Banking System Software Market by Component
9.7.5.1 Rest of LAMEA Banking System Software Market by Software (Without Services) Type
Chapter 10. Company Profiles
10.1 IBM Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Regional & Segmental Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Acquisition and Mergers:
10.1.6 SWOT Analysis
10.2 Microsoft Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.6 SWOT Analysis
10.3 SAP SE
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent strategies and developments:
10.3.5.1 Partnerships, Collaborations, and Agreements:
10.3.5.2 Acquisition and Mergers:
10.3.6 SWOT Analysis
10.4 Salesforce.com, Inc.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional Analysis
10.4.4 Research & Development Expense
10.4.5 SWOT Analysis
10.5 Oracle Corporation
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 Recent strategies and developments:
10.5.5.1 Product Launches and Product Expansions:
10.5.6 SWOT Analysis
10.6 Tata Consultancy Services Ltd.
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expenses
10.6.5 Recent strategies and developments:
10.6.5.1 Partnerships, Collaborations, and Agreements:
10.6.5.2 Acquisition and Mergers:
10.6.6 SWOT Analysis
10.7 Infosys Limited
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expense
10.7.5 Recent strategies and developments:
10.7.5.1 Partnerships, Collaborations, and Agreements:
10.7.6 SWOT Analysis
10.8 Fiserv, Inc.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Recent strategies and developments:
10.8.4.1 Acquisition and Mergers:
10.8.5 SWOT Analysis
10.9 Fidelity National Information Services, Inc.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental and Regional Analysis
10.9.4 Recent strategies and developments:
10.9.4.1 Acquisition and Mergers:
10.10. Finastra Group Holdings Limited (Vista Equity Partners)
10.10.1 Company Overview
10.10.2 Recent strategies and developments:
10.10.2.1 Partnerships, Collaborations, and Agreements:
10.10.2.2 Product Launches and Product Expansions:
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Salesforce.com, Inc.
- Oracle Corporation
- Tata Consultancy Services Ltd.
- Infosys Limited
- Fiserv, Inc.
- Fidelity National Information Services, Inc.
- Finastra Group Holdings Limited (Vista Equity Partners)
Methodology
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