Banking BPS Market Update: A Market Full of Surprises
HTF Market Intelligence published a new research report on “Banking BPS Market Insights, to 2029″ with 101 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Banking BPS market was mainly driven by the increasing R&D spending across the world.
Some of the key players profiled in the study are:
Atos (France), Capgemini (France), Cognizant (United States), HCL technologies Limited (India), Infosys Limited (India), NIIT Technologies (India), Tata consultancy services Limited (India), Wipro Limited (India), Accenture (Ireland), WNS (Holdings) Ltd (India), DXC Technology (United States)
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According to HTF Market Intelligence, the Global Banking BPS market to witness a CAGR of 9.18% during forecast period of 2023-2029. The market is segmented by Application (Personal, Enterprise, Other) by Type (Front Office (Customer Management Services, Document Management, Sales and Marketing Outsourcing), Middle Office (Insurance BPS, Banking BPS, Healthcare Providers BPS), Back Office (F&A Outsourcing, Procurement)), Mortgage and Loan BPS (Origination Services BPS, Mortgage and Loan Administration BPS)) by Service (Securities Processing BPS, Payment Services BPS) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Banking BPS market size is estimated to increase by USD at a CAGR of 9.18% from 2023 to 2029. The report includes historic market data from 2017 to 2022E.
Scope of the Report of Banking BPS
Over the past couple of decades, digitalization, automation, and centralization in the banking sector have been increased robustly over the past couple of decades. In addition to this, the growing prevalence of E-commerce activities has increased a need to outsource business process services to the information technology firms to employ automation in banking operations. Also, the adoption of banking BPS has also reduced the manpower required which in turn has fuelled quality and affordability of the banking services. Banking BPS is mainly adopted by the Tier I banks, where these firms outsource a number of banking services to the third parties to increase feasibility and efficiency in banking services. These services also minimize the risk as well as improved consumer satisfaction.
The titled segments and sub-section of the market are illuminated below:
Application (Personal, Enterprise, Other) by Type (Front Office (Customer Management Services, Document Management, Sales and Marketing Outsourcing), Middle Office (Insurance BPS, Banking BPS, Healthcare Providers BPS), Back Office (F&A Outsourcing, Procurement)), Mortgage and Loan BPS (Origination Services BPS, Mortgage and Loan Administration BPS)) by Service (Securities Processing BPS, Payment Services BPS) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Market Trends:
- Growing Adoption of E-Banking Operations and Banking Automation
- Rising Strategic Alliances of IT companies with Tier I Banks
Market Drivers:
- Provides Flexibility and Operational Simplicity to the Banks
- Increasing Digitalization and Industrialization across the Globe
Market Opportunities:
- Continues Technological Advancements and Growing Demand for Technology-Based Banking Solution Providers
- Growing Number of Banking Business Service Process Providers and Minimized Prices
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Points Covered in Table of Content of Global Banking BPS Market:
Chapter 01 – Banking BPS Executive Summary
Chapter 02 – Market Overview
Chapter 03 – Key Success Factors
Chapter 04 – Global Banking BPS Market – Pricing Analysis
Chapter 05 – Global Banking BPS Market Background
Chapter 06 — Global Banking BPS Market Segmentation
Chapter 07 – Key and Emerging Countries Analysis in Global Banking BPS Market
Chapter 08 – Global Banking BPS Market Structure Analysis
Chapter 09 – Global Banking BPS Market Competitive Analysis
Chapter 10 – Assumptions and Acronyms
Chapter 11 – Banking BPS Market Research Methodology
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