Report forecast the global analytics and risk compliance
solutions for banking market to grow at a CAGR of 17.2% during the period
2016-2020.
Financial services, insurance, and banks are among the most
data-driven industries. Commercial banks and insurance companies operate within
regulatory environments that require firms to store and analyze several years
of transactional data. For making the most from the business financial
services, companies rely on relational technologies coupled with business
intelligence tool to handle the ever-increasing data and analytics burden.
In today’s world of information, financial service industry
is witnessing a disruptive change in the way do businesses worldwide.
Regulatory reforms drive this change. Ailing business and customer settlements,
continuous economic crisis in other industry verticals, high cost of new
technology and business models, and high degree of industry consolidation and
automation are some of the other growth drivers. Companies are rapidly changing
business models.
Financial institutions are changing the way they do businesses
and building a high degree of ability to avoid the risk for losing confidence
of customers and shareholders. With the growing customer expectation, financial
institutions are gearing up their efforts to attract, retain, and grow their
next generation of technological-driven bankers.
The report covers the present scenario and the growth
prospects of the global analytics and risk compliance solutions for banking
market for 2016-2020. To calculate the market size, the report considers the
revenue generated from the Americas, APAC, and EMEA.
The market is divided into the following segments based
on geography:
- Americas
- APAC
- EMEA
According to the report, one driver in the market is
exponential growth in data and portfolio risk solutions. Organizations across
industries are undergoing major digital transformational changes. The inherent
benefits of digitization such as better decision-making, improved customer
relationships, efficient resource planning, innovations in products and
services, and cost savings have boosted the adoption of digital technologies.
This has resulted in exponential growth of corporate data. For instance, the healthcare
industry has been generating large volumes of digital data due to rapid
digitization of manual patient records, fueled by legislative regulations and
the need to provide better patient care at lower costs.
Further, the report states that one challenge in the market
is lack of expertise in big data technology. Banks need to develop continuously
and offer innovative solutions per changing customer requirements. This costly
complex process involves a great degree of uncertainty and any failure in understanding
the requirements of customers leads to loss of time and money. Most of the
organizations in the financial services sector expect big results but are
fearful of spending. Thus, their lack of a forward-thinking attitude makes it
difficult for banks to calculate and track possible ROI. This may hinder the
value additions thereby challenging the development of banks. Therefore, to
ensure sustainable growth, it is important for banks to understand the current
market need and accordingly offer tailored solutions to clients.
Global Analytics and Risk Compliance Solutions For
Banking Market 2016-2020, has been prepared based on an in-depth market
analysis with inputs from industry experts. The report covers the market
landscape and its growth prospects over the coming years. The report also
includes a discussion of the key vendors operating in this market.
key players in the global analytics and risk compliance
solutions for banking market: CMO, EMC, IBM, MetricStream, and Nasdaq.
Other Prominent Vendors in the market are: Check Point
Software Technologies, LogicManager, MEGA International, NAVEX Global, Oracle,
Protiviti, Rsam, SAI Global, SAP, SAS Institute, Software AG, and Thomson
Reuters.
Market driver
- Increased need to comply with regulatory requirements.
- For a full, detailed list, view our report
Market challenge
- Difficulty in validating the accuracy of the underlying data.
- For a full, detailed list, view our report
Market trend
- Emergence of social media as marketing and collaboration medium.
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 111 pages and 33 Exhibits “Global Analytics
and Risk Compliance Solutions for Banking Market 2016 - 2020” report covers Executive
summary, Scope of the report, Market research methodology, Introduction, Market
landscape, Geographical segmentation, Market drivers, Impact of drivers, Market
challenges, Impact of drivers and challenges, Market trends, Vendor landscape,
Key vendor analysis, Appendix.
For
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