Global Banking BPS Market

Global banking BPS market is projecting a rise in estimated value to an estimated value of USD 22.19 billion by 2026, registering a substantial CAGR of 9.62% in the forecast period of 2019-2026

Market Definition: Global Banking BPS Market

The budgeting tool which helps in planning process for building budget models to users is known as Bank BPS. This tool is provided by the SAP. This model can combine special operational planning and global strategic planning issues in many applications such as in a cyclical process and emphasize on entire bank's business processes

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Major Market Competitors/Players

Few of the major competitors currently working global banking BPS market are Atos SE, Avaloq, Capgemini, Cognizant, FirstSource, HCL technologies Limited, Hexaware Technologies, Infosys Limited, NIIT Technologies, SLK software services Pvt Ltd, Tata consultancy services Limited (TCS), Wipro Limited, WNS (Holdings) Ltd, Accenture, EXL, Tech Mahindra Business Process Services, DXC Technology Company, Conduent, Inc., and others

Market Segmentations:

By Operation Analysis (Front Office, Middle Office, Back Office), Service Analysis (Core Banking BPS, Mortgage and Loan BPS, Payment Services BPS, Securities Processing BPS), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa

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Market Drivers:

• Rise in number of public banks act as a driver for the market growth
• Increase in loans and deposition of money enhance the growth of the market
• Increase in working population act as a catalyst for the market growth
• Acceptance of technological advancement and digitalization in the banking sector has driven the market growth

Market Restraints:

• Increase in cybercrimes due to hacking is restraining the market growth
• Rise in cyber-attack due to less secured systems also hampers the market growth

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