Emergence of Online Banking Boosts Third Party Banking Software Market

San Francisco, California, September 13, 2017: The increasing demand for standardized activities in the banking sector is driving the global market for third party banking software. A new report by TMR Research, titled “Third Party Banking Software Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” provides a 360 degree assessment of several factors affecting the market’s growth trajectory. This report includes estimated market values for the global market over the forecast period to allow readers understand estimated market size over the course of eight years. Furthermore, various segments of the market are included, for which projected market shares and market values are evaluated to provide an in-depth summary of the market. Numerous charts and figures are included to provide a holistic overview of the market.

A third party banking software can serve as a multi-channel banking software, private wealth management software, business intelligence software solution, and a core banking software. The processes of banking have become complex due to numerous schemes, digitalization, and increasing users. To streamline this increasing complexity, the banking sector is exhibiting increased demand for sophisticated software solutions. The flexibility provided by third party banking software is prompting banks to adopt these advanced software solutions. Furthermore, software increases profit while reducing overall operational costs. Facilitating flexible operations and allowing bankers to understand the changing needs of the customers are few of added benefits of employing a third party banking software.

The emergence of smartphones and laptops is motivating consumers to opt for online banking, increasing the complications for the banking institutes. The need for augmented online security, storage of vast data produced, and provide enhanced user experience to the customers are the factors leading to the inclination of banking sector towards third party software solutions. This report accumulates various such trends that are expected to result into vast expansion of the global third party banking software market. Moreover, factors that could hinder the market growth are included to let the market players explore hidden pitfalls in the market.

Geographically, the global market for third party banking software can be segmented into Middle East and Africa, North America, Asia Pacific, Europe, and Latin America. Among these, Europe and North America have emerged as the market leaders in terms of both prominence of players and demand volume. These regions are most likely to hold their dominance in the global market over the forthcoming years owing to the increasing usage of banking software solutions in several business activities and the presence of numerous prominent financial institutes. Whereas, Asia Pacific is also expected to exhibit an impressive growth trajectory due to flourishing banking sectors and developing economies. This report includes various trends affecting the regional markets and help the market investors to gain complete understand of geographical analysis of the global market. The estimate market values and market shares in the global market of these regions are included.

The leading players in the market are constantly utilizing advanced technologies to develop more efficient and effective software solutions. Some of the players are involving in mergers and acquisitions to extend their dominance in the market. A significant portion of this report is dedicated to the competitive analysis of the market. This part is expected to help readers understand various strategies followed by the leading players to stay competitive in the market. Some of the key players operating in this market are Oracle Corp., SAP AG, Tata Consultancy Services Ltd., Temenos Group AG., Datapro Inc., Diasoft Software Solutions, FIS Group, Fiserv Inc., Infosys Ltd., Jack Henry & Associates, Misys Plc., Nucleus Software, Path Solutions, Polaris Financial Technology, Sopra Banking Software, and Sungard Ambit.

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