Banking Services Industry Procurement Intelligence Report | Increase in Supplier OPEX to Impact Procurement Spend | SpendEdge

SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Banking Services Industry Procurement Intelligence Report. (Graphic: Business Wire)

LONDON--()--SpendEdge has been monitoring the global banking services market and the market is poised to experience spend growth of over USD 1 trillion between 2018-2023 at a CAGR of nearly 7% during the forecast period. Request Free Sample Pages.

Read the 135-page research report with TOC and LOE on "The Global Banking Services Industry – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”

Digitization is becoming an integral part of the banking services infrastructure that is augmenting growth scopes in this industry. The leading banking service providers are leveraging digital technologies such as web- and mobile-based channels to boost their engagement with customers and to gain necessary insights into customer’s transactional and behavioral aspects. This is boosting the acceptability of these services and is driving investments in the banking services industry.

North America is claiming a substantial share in the industry’s spend growth. Factors such as the frequency of M&A activities among the leading banking services providers, improved restructuring of the business models by service providers, and corporate tax relief are contributing to this spend growth. In the US, the ongoing political turmoil and monetary policy normalization are some of the factors that are inhibiting spend growth in the banking services industry. However, the adoption of financial policies such as the establishment of a FinTech regulatory framework, modernization of CRA regulations is driving the industry spend momentum.

Subscribe to our procurement platform to get instant access to over 1000 market-ready procurement intelligence reports without any additional costs or commitment.

Insights into the market pricing trends

  • Lack of uniformity in the reference rates for different markets or currencies is increasing the complexity of operations for banking institutions that have a global presence. According to the banking services price trends, this is creating a significant impact on the overall pricing structure in this industry.
  • Banking service providers are incurring substantial expenditure on technologies, such as blockchain, AI, and big data analytics, to offer improved services to their buyers. This is exerting an inflationary impact on the pricing of banking services across the globe.

What are the strategies to adopt to optimize procurement spend in this market?

The banking services price trends imply a substantial increase in service provider’s OPEX which will result in a gradual decline in their profit margin. To compensate for this, service providers are expected to increase the prices of their services. In view of this, this procurement intelligence report has listed the top banking service providers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market.

Ensure transparency of service charges

Buyers are advised to partner with service providers who are known to offer complete transparency in their pricing. Often, the service charges include hidden fees that may force clients to make excess payments. Hence, to ensure transparency in pricing and to protect consumers from frauds, the US banking regulators mandated acts, such as the FDCPA, that emphasize on debt collection using fair means.

Opting for long-term engagements to avail greater benefits

Long-term contracts help buyers to build better relationships with their service providers. This helps buyers to benefit due to discounted value-added services offered by service providers such as low insurance rates and reduction in the annual fee charged on corporate card transactions. Such discounts help buyers to save significant costs during the procurement process.

Buy 1 report and get the second for 50% off. Buy 2 reports and get the third for free. Download the free sample of this report on the banking services industry.

Some of the key topics covered in this report are:

  • Banking services industry spend segmentation by region
  • Total cost of ownership analysis in the banking services industry
  • Regional spend opportunity for banking service providers
  • Banking service providers cost structures
  • Banking services pricing models analysis
  • Banking services procurement best practices
  • Category management objectives
  • Cost saving opportunities in the banking services industry

Free sample of reports that you may like:

About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more,


Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299

Release Summary

Read the 135-page research report with TOC and LOE on The Global Banking Services Industry Procurement Intelligence Report, Pricing Outlook


Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299