Global Banking BPS Market will grow at CAGR of 11.15% to hit .16 Billion by 2

Posted by ganesha on October 29th, 2019

Global banking BPS market By Operation Analysis (Front Office, Middle Office, Back Office), Service Analysis (Core Banking BPS, Mortgage and Loan BPS, Payment Services BPS, Securities Processing BPS), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa – Industry Trends and Forecast to 2026 – Industry Trends and Forecast to 2026

Market Definition: Global Banking BPS Market

The budgeting tool which helps in planning process for building budget models to users is known as Bank BPS. This tool is provided by the SAP. This model can combine special operational planning and global strategic planning issues in many applications such as in a cyclical process and emphasize on entire bank's business processes  

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Market Analysis: Global Banking BPS Market

Global banking BPS markets is projecting a rise in estimated value to an estimated value of USD 22.19 billion by 2026, registering a substantial CAGR of 9.62% in the forecast period of 2019-2026 due to Rise in number of public banks, Increase in loans and deposition of money and Increase in working population

Market Drivers:

•          Rise in number of public banks act as a driver for the market growth
•          Increase in loans and deposition of money enhance the growth of the market
•          Increase in working population act as a catalyst for the market growth
•          Acceptance of technological advancement and digitalization in the banking sector has driven the market growth

Market Restraints:

•          Increase in cybercrimes  due to hacking is restraining the market growth
•          Rise in cyber-attack due to less secured systems also hampers the market growth

Segmentation: Global Banking BPS Market

By Operation Analysis

•          Front Office

o    Customer Management Services

o    Document Management

o    Sales and Marketing Outsourcing

•          Middle Office

o    Insurance BPS

o    Banking BPS

o    Healthcare Providers BPS

o     

•          Back Office

o    F&A Outsourcing

o    Procurement

By Service Analysis

•          Core Banking BPS
•          Mortgage and Loan BPS

o    Origination Services BPS

o    Mortgage and Loan Administration BPS

•          Payment Services BPS

o    Cheque Processing BPS

o    Credit Card Processing BPS

o    EFT Services BPS

•          Securities Processing BPS

o    Portfolio Services BPS

o    Trade Services BPS

Key Developments in the Market

•          In November 2015, Intuit Inc., developed quicken 2016, a software which helps customers to easily transact, track and take control of managing the money. The software increased the customer support in United States and also enhanced accuracy of banks transaction and downloads
•          In April 2013, TCS acquired Alti SA IT services in order to grow in the European continental. The acquisition also includes banks. TCS aimed to expand the business in Europe and France by providing new services and solutions to their customers such as financial services, manufacturing, French corporations in banking, utilities and luxury sector

Competitive Analysis

Banking BPS Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Global banking BPS market for Global, Europe, North America, Asia Pacific and South America.

Major Market Competitors/Players

Few of the major competitors currently working global banking BPS market are  Atos SE, Avaloq, Capgemini, Cognizant,  FirstSource, HCL technologies Limited, Hexaware Technologies, Infosys Limited, NIIT Technologies , SLK software services Pvt Ltd,  Tata consultancy services Limited (TCS), Wipro Limited, WNS (Holdings) Ltd, Accenture, EXL, Tech Mahindra Business Process Services, DXC Technology Company, Conduent, Inc., and others

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