Summary

Global Financial Services Applications Market is expected to grow at a significant rate of around 7% during the forecast period. A financial service application is an app or software that provides financial services to users, such as banking, investment management, budgeting, or payments. These applications can be web-based, mobile, or desktop software. Financial service applications typically allow users to perform a variety of financial tasks, including checking their account balances, transferring money, paying bills, applying for loans, and managing investments. Some financial service applications also provide personalized financial advice and recommendations based on the user's financial data and goals.

The growing adoption of financial service applications is mainly attributed to their features such as convenience, financial services applications provide users with the convenience of accessing their financial information and conducting transactions from anywhere at any time. This is especially important for younger generations who value convenience and prefer digital experiences over traditional brick-and-mortar banking. Furthermore, the growing trend of making online payments is expected to drive the market during the forecast period.

FIS; Fiserv, Inc.; NCR Payment Solutions, LLC; SS&C Technologies, Inc., Infosys Limited; Oracle; SAP; TATA Consultancy Services Limited; Microsoft; and IBM are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type, payment gateway category to witness robust CAGR during the forecast period”
Based on type the market is segmented into financial management, payment gateways, budgeting, bookkeeping, and financial forecasting. The payment gateway segment is anticipated to grow at the highest CAGR during the forecast period. The growth of the segment is majorly driven by the increasing use of mobile devices for online transactions. Payment gateways offer mobile-optimized checkout processes that are easy and convenient for customers to use on their smartphones or tablets. Furthermore, Payment gateways offer advanced security features that protect customers' personal and financial information from fraud and theft. They also provide a streamlined payment processing experience for businesses, with features such as automatic payment processing and recurring billing.

“Amongst deployment, the cloud to hold a significant share in the market in 2021”
On the basis of deployment, the market is bifurcated into cloud and on-premises. The cloud held a significant share of the market in 2021. By using cloud computing, fintech companies can reduce their infrastructure and maintenance costs while also benefiting from greater agility and scalability, allowing them to quickly and easily scale their operations as needed. Additionally, cloud technology offers enhanced security features, which are critical in the highly regulated fintech industry, where data privacy and security are paramount. Overall, the use of cloud technology in fintech is enabling greater innovation and growth in the industry, driving its continued evolution and expansion.

“North America to hold a significant share in the market”
The financial services application market in North America led the market in 2021 with the highest market share and has seen significant growth due to several factors. Firstly, North America is a hub for technological advancement, and the financial service industry has been quick to adopt new technologies. Secondly, the COVID-19 pandemic has accelerated the demand for digital services, and financial service applications have been at the forefront of meeting this demand. Thirdly, the financial service industry is highly competitive, and developing innovative financial service applications has become a key strategy for companies to stand out. Lastly, the regulatory environment in North America has been evolving rapidly, with changes in regulations driving the adoption of financial service applications.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global financial services applications market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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