Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance
Global Third-Party Banking Software Market 2012-2016

Global third-party banking software market: 6.6% CAGR growth between 2012-2016


Print article Print article
© companiesandmarkets.com

companiesandmarkets.com
companiesandmarkets.com
2014-02-12 04:08:03 - Global Third-Party Banking Software Market 2012-2016 - a new market research report on companiesandmarkets.com

The Global Third-Party Banking Software market is to grow at a CAGR of 6.66 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for standardization. The market has also been witnessing changes in banking regulations. However, high sunk and switching costs could pose a challenge to the growth of this market.

There is a considerable amount of action that needs to be taken with regards to operation management in banks. Financial institutions are required to meet new and stricter government regulatory requirements as well as their own internal regulations. Banks need to adjust their business models in no time. The recent financial crisis has forced bankers to reconsider their strategy. More banks

 

 

are now adopting improved information and risk management systems that meet the regulatory and statutory requirements. It is crucial to embed new modes of operations into the banking culture to achieve significant improvements. This will require banks to adopt third-party banking software in the coming years.

One of the major drivers is the need for standardization. There has been a change in the way banks operated and an increase in the complexity and rigidity in banking operations, which has necessitated the use of banking software. However, banks need advanced banking software that can help them meet all financial needs in a flexible manner.

One of the chief challenges is the high cost involved in switching to a new system. Bankers often refer the migration from legacy systems to third-party banking software as a critical process as it is a fearsome task especially for large banks. For many years, banks around the globe have avoided replacing their legacy systems with third-party banking software. As a result, they have created a complex network of systems that have become too expensive, risky, and difficult to maintain and are unable to keep pace with the changing needs.

The key vendors dominating this space include Oracle Corp., SAP AG, Tata Consultancy Services Ltd., and Temenos Group AG. The other vendors mentioned in the report are 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.

Click for report details: www.companiesandmarkets.com/Market/Information-Technology/Market ..

Browse all Information Technology Market Research Reports www.companiesandmarkets.com/Market/Information-Technology/Market ..

Browse all Information Technology Company Profile Reports www.companiesandmarkets.com/Market/Information-Technology/Compan ..

Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Author:
Mike King
e-mail
Web: www.companiesandmarkets.com
Phone: London: +44 (0) 203 086 8600

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com | BidVertiser