[230+ Pages Report] The latest finding surrounding the “Global Banking BPS Market” published by Facts & Factors covers all the historical and future market analytics in a neatly packaged and comprehensive read. We at Facts & Factors estimate that the global banking BPS market will reach a projected value of USD 23,551 Million by the year 2027 with a growth rate of 9.22% CAGR from an initial value of USD 10,645 Million in the year 2018.
New York, NY, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Banking BPS Market By Service (Core Banking BPS, Securities Processing BPS, Mortgage & Loan BPS, and Payment Services BPS) and By Operations (Front Office, Back Office, and Middle Office): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” in its research database
“According to the report, the global banking bps market was valued at approximately USD 10,645 million in 2018 and is expected to reach a value of around USD 23,551 million by 2027, at a CAGR of around 9.22% between 2019 and 2027.”
Global Banking BPS Market: Overview
Banking Business Process Services (BPS) include the processing of business retailed banking deals on a large level. BPS firm provides a plethora of services to help in the substantial growth of the business. Business process services are the same as Business Process Outsourcing (BPO).
Banking business process services also termed as banking business process outsourcing is a highly specialized sourcing strategy utilized by the banks to aid business procurement and account servicing events related to the customer lending cycle.
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Top market players profiles with sales & revenue analysis
Regional analysis using charts and graphs
Easy to understand graphical data
Key segments, industry drivers, challenges & opportunities in the global & regional market
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Industry Major Market Players
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Key questions answered in this report:
What is the projected size & share of the Banking BPS Market?
What are the key driving factors for the growth of the Banking BPS Market?
Who are the top market players in Banking BPS Market?
How many segments are analyzed in Banking BPS Market?
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Global Banking BPS Market: Growth Factors
Increase in lending & money deposition to drive the market trends
The rise in the lending & deposition of money and the bulge in the number of public sector banks along with the rural penetration of these banks will impel the expansion of the market over the forecast timeline. Moreover, the growing demand for outsourcing of finance & accounting services will help in driving innovation in the banking BPS sector during the forecast timeline. Apart from this, the onset of new technologies like connected things, AI, augmented reality, virtual reality, blockchain, and Chatbots will perpetuate the growth of the banking BPS industry upwardly during the forecast timeline.
Furthermore, the rise in the working population, a bulge in disposable income, and an increase in personal finance & housing activities along with an increase in the penetration of ATMs are expected to steer the expansion of the banking BPS industry over the forecast timeline. Nonetheless, a growing number of cybercrime and cyber-attacks are predicted to fetter the expansion of the banking BPS industry over the forecast timeline. However, technological breakthroughs can create lucrative growth avenues for the market over the forecast timeline and thereby nullify the impact of the hindrances on the overall industry surge.
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Global Banking BPS Market: Report Scope
Market Size 2018 Value
USD 10,645 Million
Market Forecast for 2027
USD 23,551 Million
Expected CAGR Growth
CAGR 9.22% from 2019-2027
Top Market Players
Atos, Tata BSS, Wipro, Avaloq, Cognizant, Genpact, NIIT, WNS, Concentrix, HCL Tech, and Others
Service, Operations, and Region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Global Banking BPS Market: Segmentation
Securities Processing BPS to dominate the service segment in terms of revenue
The massive demand for security processing BPS from small and medium-sized firms as well as its growing popularity across myriad business verticals is predicted to steer the expansion of the segment over the forecast timeline.
Middle office operations segment to contribute majorly towards the overall market revenue by 2027
The growth of the segment is due to the growing demand for insurance BPS, banking BPS, and healthcare providers BPS across the globe.
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Global Banking BPS Market: Regional Analysis
North America to account for major regional market revenue share by 2027
The growth of the market in the region is due to the massive demand for banking BPS in countries like the U.S. Moreover, a rise in digitization in banking activities and acceptance of new technologies in the banking industry will spur regional market growth. In addition to this, growing awareness about BPS and the high rate of literacy among the population of countries like the U.S. will enlarge the market scope in the region.
Browse the full “Banking BPS Market By Service (Core Banking BPS, Securities Processing BPS, Mortgage & Loan BPS, and Payment Services BPS) and By Operations (Front Office, Back Office, and Middle Office): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at https://www.fnfresearch.com/banking-bps-market-by-service-core-banking-bps-185
This report segments the Banking BPS market as follows:
Global Banking BPS Market: By Service Segment Analysis
Core Banking BPS
Securities Processing BPS
Portfolio Services BPS
Trade Services BPS
Mortgage & Loan BPS
Origination Services BPS
Mortgage and Loan BPS
Payment Services BPS
Cheque Processing BPS
Credit Card Processing BPS
EFT Services BPS
Global Banking BPS Market: By Operations Segment Analysis
Customer Management Services
Sales and Marketing Outsourcing
Healthcare Providers BPS
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