LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global middle office outsourcing market since 2016 and the market is poised to grow by USD 1.69 billion during 2019-2023, progressing at a CAGR of over 9% during the forecast period. Request Free Sample Pages
Read the 125-page research report with TOC on "Middle Office Outsourcing Market Analysis Report by End-users (investment banking and management, broker-dealers, stock exchange, and others), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 - 2023".
The market is driven by the need for new technologies and budget constraints. In addition, the rise of automation and cloud solutions is anticipated to further boost the growth of the middle office outsourcing market.
Financial institutions are experiencing the need to improve their operations due to the increasing customer base and strong competition. Organizations are in the process to leverage advanced technologies to derive actionable insights in order to make crucial decisions. They are working on the interfaces between the middle and front office to upgrade to the right infrastructure by evaluating the existing infrastructure. However, budget constraints prevent them from upgrading their existing infrastructure. This is leading to an increase in outsourcing services by small and medium scale financial institutions. Thus, the significant rise in outsourcing of services is expected to drive market growth during the forecast period.
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Major Five Middle Office Outsourcing Market Companies:
Citigroup Inc.
Citigroup Inc. offers various products and services through business units including global consumer banking. It is a global, full-service customer franchise, delivering a wide array of banking services, which includes credit card lending, commercial banking, and other services.
Genpact Ltd.
Genpact Ltd. offers sourcing and supplier management services. This product offers middle office services such as end-to-end category management, business management, business insights, supplier management and development framework.
JPMorgan Chase & Co.
JPMorgan Chase & Co. offers various products and services through business units such as consumer and community banking. It offers services to consumer and business through bank branches, ATMs, online, mobile, and telephone banking.
State Street Corp.
State Street Corp. offers various products and services through business units such as investment servicing. This segment performs core custody and related value-added functions such as providing institutional investors with clearing, settlement, and payment services.
The Bank of New York Mellon Corp.
The Bank of New York Mellon Corp. offers various products and services through business units such as investment management. This segment includes investment specialists and wealth management services, through which the company offers a diversified portfolio.
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Middle Office Outsourcing End-users Outlook (Revenue, USD Million, 2019 - 2023)
- Investment banking and management
- Broker-dealers
- Stock exchange
- Others
Middle Office Outsourcing Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- MEA
- North America
- South America
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