Albany, NY -- (SBWire) -- 04/03/2019 --ResearchMoz include new market research report "Global BFSI IT Market Size, Status and Forecast 2019-2025" to its huge collection of research reports.

Banking, Financial services and Insurance (BFSI) is an industry term for companies that provide a range of such financial products/services such as universal banks. BFSI comprises commercial banks, insurance companies, non-banking financial companies, cooperatives, pensions funds, mutual funds and other smaller financial entities.

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The BFSI vertical is one of the major targets for cyber criminals, considering the sensitive information it holds. The vertical collects vital data including customers financial and other personal information and employee information. Therefore, the BFSI vertical is always on the radar of cyber security product and service vendors. With the advancements in cyber-attacks, the BFSI organizations face significant challenges to safeguard their databases from internal and external hackers. This is a major factor that contributes to the high adoption of cyber-security solutions in the BFSI vertical. This vertical is always improving its processing and transaction technologies. Also, the vertical continues to introduce new and improved financial products and services to improve its business operations. Cybercriminals are attracted toward this vertical to grab sensitive customer information. The stringent government regulations are another major factor that drives the adoption of cyber security solutions in the BFSI vertical.

Artificial intelligence (AI) technology is expected to penetrate further into the BFSI sector in coming years, with an objective to enhance customer experience and aid their operational processes. Automating operational processes by implementing the AI technology is likely to reduce the operational costs and speed up the banking operations.

North America is estimated to hold the largest market share in 2017, while APAC is expected to be the fastest-growing region in terms of CAGR during the forecast period.

This report focuses on the global BFSI IT status, future forecast, growth opportunity, key market and key players. The study objectives are to present the BFSI IT development in United States, Europe and China.

The key players covered in this study
IBM
Microsoft
Accenture
Micro Focus
SAP
Cognizant

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Market segment by Type, the product can be split into
ECM
CRM
HCM
ERP
Artificial Intelligence
Business Intelligence
Unified Communications

Market segment by Application, split into
Commercial Banks
Insurance Companies
Non-Banking Financial Companies
Cooperatives
Others

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