Welcome!

News Feed Item

Global Application Outsourcing Market in Banking Sector

DUBLIN, April 4, 2014 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/msgk8q/global) have announced the addition of the "Global Application Outsourcing Market in Banking Sector" report to their offering. 

     (Logo: http://photos.prnewswire.com/prnh/20130307/600769 )

The analysts forecast the Global Application Outsourcing market in the Banking sector to grow at a CAGR of 4.63 percent over the period 2012-2016. One of the key factors contributing to this market growth is the considerable reduction of operational cost and time. The Global Application Outsourcing market in the Banking sector has also been witnessing increasing offshoring opportunities for global outsourcing vendors. However, the fear of losing valuable company information could pose a challenge to the growth of this market. 

The report, the Global Application Outsourcing Market in Banking Sector, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, the EMEA and the APAC region; it also covers the Global Application Outsourcing market in the Banking sector landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

One of the main trends witnessed in the Global Application Outsourcing market is the growing offshore opportunities for global outsourcing vendors. Outsourcing application management to offshore destinations is a profitable business model for banks as it offers the opportunity to establish an economical cost structure. 

Outsourcing to countries such as India reduces the cost of application management to a large extent. While India still remains the top offshore application outsourcing destination, banks are exploring other destinations such as Brazil, China, Philippines, Russia, Argentina, Mexico, Hungary and Poland. These destinations are gaining popularity because of the improvement in their education system, rapidly increasing workforce, and the development of their overall infrastructure. With the 24/7 availability of high quality and low cost services in these destination, the Global Application Outsourcing market in the Banking sector is expected to grow in the years to come. 

According to the report, one of the main factors driving the market is the need to reduce operational cost and time. If banks adopt application outsourcing, they do not have to invest in resources or worry about handling the limited available resources for the required applications.

Further, the report states that one of the main challenges is issues with data security. In application outsourcing transactions, banks need to transfer the responsibility of handling a task or managing a project to a third-party. Consequently, these transactions also require banks to provide the outsourcing vendor with valuable and confidential company information such as details of their customers.

Key Topics Covered: 

1. Executive Summary

2. List of Abbreviations

3. Introduction

4. Market Research Methodology

5. Scope of the Report

6. Market Landscape

7. Market Segmentation

8. Geographical Segmentation

9. Key Leading Countries

10. Vendor Landscape

11. Buying Criteria

12. Market Growth Drivers

13. Drivers and their Impact

14. Market Challenges

15. Impact of Drivers and Challenges

16. Market Trends

17. Key Vendor Analysis

18. Other Reports in this Series

Companies Mentioned:

  • Accenture Plc.
  • CGI Group Inc.
  • Capgemini SA.
  • Cognizant Technology Solutions Ltd.
  • Computer Sciences Corp.
  • Dell Inc.
  • EPAM Systems
  • HCL Technologies
  • Hewlett-Packard Co.
  • Hexaware Technologies
  • IBM Corp.
  • ITC Infotech India Ltd.
  • Infosys Ltd.
  • L&T Infotech
  • Luxoft
  • Mindtree Ltd.
  • Polaris Financial Technology Ltd.
  • Softtek
  • Syntel Inc.
  • Tata Consultancy Services Ltd.
  • Unisys Corp.
  • Wipro Ltd.
  • iGATE Corp.

For more information visit http://www.researchandmarkets.com/research/msgk8q/global

Media Contact: Laura Wood, +353-1-481-1716, press@researchandmarkets.net

SOURCE Research and Markets

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in ...
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
"Peak 10 is a national cloud data center solutions managed services provider, and part of that is disaster recovery. We see a growing trend in the industry where companies are coming to us looking for assistance in their DR strategy," stated Andrew Cole, Director of Solutions Engineering at Peak 10, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership abi...