Third Party Banking Software Market to Record 7.52% Annual Growth Rate in 2021 | Accenture Plc, Capgemini Services SAS and Fidelity National Information Services Inc. Become dominant players

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According to the recent Technavio market study, the Third Party Banking Software Market Size should increase by $ 3.04 billion from 2020 to 2025. However, the growth momentum is expected to slow to a CAGR of 10% during the forecast period. The report provides detailed analysis of drivers and opportunities, top winning strategies, competitive scenario, future market trends, market size and estimates, and major pockets of investment.

Europe will register the highest growth rate, occupying 33% of the global market share. UK, Germany, and France are the key markets for third-party banking software in Europe. However, the market will experience a slowdown in the region than in APAC, MEA and South America.

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Supplier Information-

The third-party banking software market is fragmented and characterized by a significant number of regional and international vendors from small to large scale. Providers established in the market have strong financial backing and focus on launching technically advanced, innovative and quality products. They make significant investments in R&D to provide considerable differentiation in their solutions and expand their customer base. To stay competitive, small suppliers are focusing on launching low-cost products and building their customer base.

Some vendors are involved in mergers and acquisitions as part of a strategic plan to gain an advantage in the market.

Accenture Plc: In january 2020, the company worked with InterContinental Hotels Group to deliver a solution that uses augmented and virtual reality to reinvent the event planning experience.

Capgemini Services SAS: In July 2019, the company announced the acquisition of KONEXUS Consulting Group GmbH, a provider of strategy and management consulting services for the energy industry in the German market. This acquisition aimed to meet the growing demand for digital solutions in the energy and utilities sector by Germany and central Europe.

Fidelity National Information Services Inc .: In January 2019, the company has reached its previously announced agreement to unwind its joint venture with Banco Bradesco in Brazil and entered into a new long-term commercial agreement with Banco Bradesco, one of the largest financial institutions in the Brazil.

Fiserv Inc .: In december 2019, the company entered into a definitive deal with Motive Partners, a private equity firm focused on the technology company, under which investors led by Motive Partners would acquire up to 60% of Fiserv’s investment services business.

Infosys Ltd. : In january 2020, the company has joined forces with GEFCO, a multimodal supply chain solution and European leader in automotive logistics, to support its digital transformation over the next five years.

Discover additional highlights about the vendors and their product offerings. Download a free sample report

Regional market outlook

The growth of the third-party banking software market in Europe will be important during the forecast period. The region creates immense growth opportunities for market players. Growing adoption of digital payments and boom in online banking business are fueling the growth of third-party banking software market by Europe.

Download our FREE sample report for more highlights on the regional market share of most of the countries mentioned above.

Latest drivers and trends driving the market –

  • Third Party Banking Software Market Driver:
    • Growing use of digital payment solutions:

The growing adoption of smartphones and smart devices has dramatically increased digital payments around the world. This is pushing companies in various industries to offer digital payment options in their services in order to gain a competitive advantage over their competitors. This has consequently increased the demand for third-party banking software among businesses. The software helps businesses efficiently manage their digital payment platforms. So, with the increase of digital payments around the world, the global third-party banking software will accelerate during the forecast period.

  • Third Party Banking Software Market Trend:
    • Integration of analytics into third-party banking software:

The increase in digital payments has led to an exponential increase in customer data. By integrating analytics into third-party banking software, vendors analyze this data to make smarter, faster decisions. This helps them improve efficiency, increase profitability, reduce risk, gain valuable customer information and optimize performance. This trend is gaining prominence among the end users of the market and is expected to positively impact the growth of the market during the forecast period.

Find additional information on various other market drivers and trends mentioned in our FREE Sample Report.

Associated reports:

Islamic Banking Software Market by Application and Geography – Forecast and Analysis 2021-2025

Fintech Software Market by End User and Geography – Forecast and Analysis 2021-2025

Scope of third-party banking software

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Decelerate to a 10% CAGR

Market growth 2021-2025

$ 3.04 billion

Market structure

Fragmented

Annual growth (%)

7.52

Regional analysis

Europe, North America, APAC, South America and MEA

Efficient contribution to the market

Europe at 33%

Main consumer countries

United States, United Kingdom, China, Germany, France and Japan

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

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 Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization

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About Us
Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 specialist analysts, Technavio’s report library. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

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SOURCE Technavio


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