Third-party Banking Software Market is expected to grow exponentially at a CAGR of 8.38% in forecast period 2018- 2022

A new research document with title 'Global Third-party Banking Software Market 2018-2022 covering detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like Americas, APAC, EMEA and important players/vendors such as FIS, Fiserv, Infosys, Oracle, and Temenos, etc. The report will help user gain market insights, future trends and growth prospects for forecast period of 2018-2022

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This software provides end-to end and omni-channel management of banking operations. The goal of deploying this software is the efficient streamlining of processes and meeting the evolving modern end-customers' expectations.

HTF analysts forecast the global third-party banking software market to grow at a CAGR of 8.38% during the period 2018-2022.

HTF recognizes the following companies as the key players in the global third-party banking software market: FIS, Fiserv   Infosys, Oracle, and Temenos.

Commenting on the report, an analyst from HTF’s team said: “The latest trend gaining momentum in the market is advent of open banking paradigm. The second most important trend for the third-party banking software market is the expected shift toward open banking platforms through the implementation of open application programming interfaces (APIs) across banking industries. The APIs would enable third-parties as well as stakeholders to cooperate and share information via multitudes of use cases. This would allow banks and allied software vendors to generate new revenue streams and deliver an enhanced customer experience. An open banking”

According to the report, one of the major drivers for this market is Increasing adoption of customer-centric perspective. Most modern businesses are becoming customer-centric in a bid to retain customers in the face of disruption, high competition, and increasingly fragmented markets. The banking industry is no exception. The end-customers want a 24/7 personalized experience that is tailored to their specific requirements. This requires the banking business to be data-driven, concentrate on analytics, develop smart insights from data, and hence, align itself with the end-customers’ requirements. The modern customer constantly demands a seamless banking experience. This trend of customer-centricity promotes the adoption of third-party banking software solutions. L

Further, the report states that one of the major factors hindering the growth of this market is High switching costs from legacy systems. Banking organizations have already invested in setting up their traditional legacy IT infrastructure. The costs that were involved in the setting up of the systems are referred to as sunk costs. Hence, the adoption of third-party banking software brings forth high switching costs as the sunk costs are hard to recover for an organization. The huge cost involved in the complete overhaul of the organization's IT capabilities while adopting third-party banking software is a challenge.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors

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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
• Market ecosystem
• Market characteristics
• Market segmentation analysis
PART 05: MARKET SIZING
• Market definition
• Market sizing 2017
• Market size and forecast 2017-2022
PART 06: FIVE FORCES ANALYSIS
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
PART 07: MARKET SEGMENTATION BY APPLICATION
• Segmentation by application
• Comparison by application
• Core banking software – Market size and forecast 2017-2022
• Asset and wealth management software – Market size and forecast 2017-2022
• Other banking software – Market size and forecast 2017-2022
• Market opportunity by application
PART 08: MARKET SEGMENTATION BY TYPE
• Segmentation by type
• Comparison by type
• Retail users – Market size and forecast 2017-2022
• Corporate users – Mar

....Continued

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