Portland, OR -- (SBWire) -- 02/15/2018 --BFSI software is the complete solution package that satisfies various business needs such as payment operations, commercial lending, capital market operation, customer engagement, retail & commercial banking, risk & compliance management, business intelligence, and many others in the banking and insurance sector. The solutions offered by some of the key vendors such as IBM Corporation, SAP SE, Oracle Corporation, and others provide efficient management of business and operational needs in the industry.
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BFSI software solutions are expected to grow at a significant rate owing to growth in digitalization of banking transactions and big data analytics. A surge in predictive analytics of market capitalization and operational need for customer management are expected to fuel the market growth. However, slow ICT expenditure in underdeveloped regions such as Africa and South America is expected to hinder the growth of the market.
The report segments the BFSI software market on the basis of solution, deployment model, user type, and geography. On the basis of solution, it includes digital banking, operation, risk & compliance, analytics, and others. By deployment model, it is bifurcated into cloud and on-premise. On the basis of user type, the market is divided into SMEs and large enterprises. Based on geography, it has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players of the BFSI software market include Mindtree Ltd., SAP SE, IBM Corporation, Oracle Corporation, Tata Consultancy Services Limited, Cap Gemini S.A., Futurism Technologies, Ramco Systems., Newgen Software Inc., and Cognizant.
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BFSISoftware Market Key Segments:
By Solution
- Digital Banking
- Operation
- Risk & Compliance
- Analytics
By Deployment Model
- Cloud
- On-premise
By User type
- SMEs
- Large enterprises
BFSI Software Market: Trends, Analysis and Industry Forecast 2017 to 2023
This report provides an extensive analysis of the current and emerging market trends & dynamics in the global BFSI software market.