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Third-Party Banking Software Market Size to Grow USD 16620 Million by 2029 at a CAGR of 8.8% | Valuates Reports




BANGALORE, India, Jan. 16, 2024 /PRNewswire/ — The Third-Party Banking Software Market is Segmented by Type (Core Banking Software, Multi-Channel Banking Software, BI Software, Private Wealth Management Software), by Application (Risk Management, Information Security, Business Intelligence, Training and Consulting Solutions).

The Global Third-Party Banking Software Market is projected to grow from USD 10050 Million in 2023 to USD 16620 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period.

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Major Factors Driving the Growth of Third-Party Banking Software Market

Financial institutions look for cutting-edge technologies to improve client experiences, boost operational efficiency, and negotiate complicated regulatory environments amidst the general tide of digital change.

In order to meet these demands, third-party banking software providers are essential. They do this by providing cutting-edge technologies that address changing compliance requirements, enable seamless integration, strengthen cybersecurity measures, and take advantage of newly emerging technologies like cloud computing and artificial intelligence.

The use of third-party solutions is further fueled by the need to optimize costs and resources, as well as by the globalization of banking operations and the advancement of open banking initiatives.

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The need for regulatory technology (RegTech) solutions in third-party banking software has been driven by strict regulatory requirements and the increasing intricacy of compliance. These solutions help banks effectively manage risks, ensure conformity to changing rules, and navigate complex compliance environments. Financial institutions must use specialized software solutions in order to maintain compliance and reduce possible risks as regulatory frameworks become more complex.

The banking sector is experiencing a swift advancement in technology, as shown by the emergence of blockchain, AI, and ML. As a result, banks are now searching for outside software solutions to use these state-of-the-art technologies. Banks are able to remain at the forefront of technological innovations because third-party suppliers frequently take the lead in the creation and integration of novel technologies.

Third-party banking software is an alluring option for financial institutions seeking to lower operating costs in an era of cost optimization and resource efficiency. Banks may focus on their core strengths and deploy resources more strategically by outsourcing certain tasks to specialized software suppliers. This allows them to take advantage of the economies of scale and expertise offered by third-party solutions.

The increased frequency and sophistication of cyber attacks have encouraged banks to invest in advanced protection measures supplied by third-party software solutions. These technologies protect sensitive financial data and guarantee the integrity of banking systems by including strong cybersecurity features like biometric identification, encryption, and threat detection. As long as financial institutions continue to prioritize cybersecurity, there will be a growing need for innovative security solutions from outside vendors.

Third-party banking software companies now have more prospects as a result of the global expansion of open banking initiatives. Open banking fosters an ecosystem where third-party software solutions may play a crucial role in generating innovative financial products, services, and experiences by encouraging collaboration and interoperability between financial institutions and external service providers. The market for third-party banking software is expected to develop at a faster rate due to the growing acceptance of open banking frameworks, which allow institutions to better utilize outside knowledge to improve their products in a linked financial ecosystem.

Third-party banking software supporting smooth worldwide integration and cooperation is in high demand as banking operations grow more and more globalized, with institutions operating across different geographic areas. These solutions help banks that operate internationally be more efficient and competitive by enabling standardized procedures, unified data management, and uniform customer experiences regardless of location.

Financial institutions are adopting cloud-based third-party banking software at an increasing rate as they look for more flexible and agile IT infrastructures. Cloud solutions enable banks to install and integrate new software with ease since they are flexible and economical, and promote cooperation. The use of cloud-based solutions by banks has made it possible for them to quickly and effectively adjust to shifting market conditions.

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The third-party banking software business in North America, and especially in the US, benefits from a sizable and fiercely competitive financial sector. The area is focused on keeping a competitive edge and satisfying changing client expectations, which has led to a high adoption rate of sophisticated technology, such as cybersecurity measures and cloud-based solutions. Organizations like the FDIC and OCC, for example, have regulations that must be followed, which raises the need for specialized third-party software that handles compliance and risk management.

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Key Companies:

  • Microsoft Corporation
  • IBM Corporation
  • SAP
  • Capgemini S A
  • Accenture Plc
  • NetSuite Inc
  • Deltek

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–  Mobile Banking Software Solution Market

–  The cloud computing banking market was valued at USD 67.9 billion in 2022, and is estimated to reach USD 301 billion by 2032, growing at a CAGR of 16.3% from 2023 to 2032.

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–  Digital Experience Platforms (DXP) Software market is projected to reach USD 2151.1 Million in 2029, increasing from USD 1121 Million in 2022, with a CAGR of 9.7% during the period of 2023 to 2029.

–  The Financial Data APIs market is projected to reach USD 2216.3 Million in 2029, increasing from USD 1178 Million in 2022, with the CAGR of 8.4% during the period of 2023 to 2029.

–  Digital Banking Market

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–  Payment Processing Solutions Market

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–  Video Banking Service market is projected to reach USD 182780 Million in 2029, increasing from USD 72300 Million in 2022, with the CAGR of 14.2% during the period of 2023 to 2029.

–  Doorstep Banking Software market is projected to reach USD 272.3 Million in 2029, increasing from USD 208 Million in 2022, with the CAGR of 4.1% during the period of 2023 to 2029.

–  The Blood Bank Management Software market was valued at USD 385.8 Million in 2022 and is anticipated to reach USD 511.1 Million by 2029, witnessing a CAGR of 4.8% during the forecast period 2023-2029.

–  Core Financial Management Applications Software market is projected to reach USD 7130.9 Million in 2029, increasing from USD 5576 Million in 2022, with the CAGR of 3.5% during the period of 2023 to 2029.

–  Financial Services CRM Software market is projected to reach USD 2494.3 Million in 2029, increasing from USD 1252 Million in 2022, with the CAGR of 9.5% during the period of 2023 to 2029.

–  Digital Lending Platform Market

–  The Trade Finance market was valued at USD 8014110 Million in 2023 and is anticipated to reach USD 11631260 Million by 2030, witnessing a CAGR of 5.4% during the forecast period 2024-2030.

–  Smart Contracts market was valued at USD 397.8 Million in 2022 and is anticipated to reach USD 1460.3 Million by 2029, witnessing a CAGR of 24.2% during the forecast period 2023-2029.

–  Risk Analytics Software Market

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–  Open Banking Platform market is projected to reach USD 572.8 Million in 2029, increasing from USD 361 Million in 2022, with the CAGR of 6.8% during the period of 2023 to 2029.

–  Crypto Asset Management Market is anticipated to grow at a rate of 23.9% CAGR by 2026.

–  Trade Surveillance System Market

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Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.


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Fintech PR

United Imaging Showcases AI-Driven Innovations and Expands European Presence at ECR 2024




VIENNA, Feb. 23, 2024 /PRNewswire/ — United Imaging, a global leader in medical technology, is showcasing its full portfolio of AI-empowered innovations at the European Society of Radiology (ECR) 2024 in Vienna, Austria.  The company highlights its significant EU growth since establishing its regional headquarters in Poland in 2019.

Dr. Al Zhang, Ph.D, Chairman & Co-CEO of United Imaging, stated, “The theme of this year’s ECR, ‘next-generation radiology,’ aligns seamlessly with our innovation philosophy. We’re not just thinking about today; we’re actively shaping the future. At United Imaging, all our innovations are AI-driven, enhancing clinical workflows and supporting diverse scenarios, solidifying our commitment to delivering value to the global medical community. Our future-ready innovation strategy has propelled us to significant global growth.”

Lukasz MIZERKA, vice president of United Imaging international business and general manager for Europe, added, “Last March, we held our first brand launch at ECR, officially introducing our passion for change to the European market. During the year, we achieved swift progress, extending our footprint to numerous European countries with our high-end equipment, serving as testament to the resonance of our mission of bringing ‘equal healthcare for all’. This year marks both our second ECR and fifth year in Europe, and we’re going to present our full portfolio of groundbreaking products and numerous world-first innovations to showcase our confidence and persistence in Europe. We eagerly await everyone to witness our changes and embrace the bright future ahead.”

In five years, United Imaging has introduced hundreds of systems and reached 16 European countries, offering efficient and professional service. Globally, United Imaging’s products have reached more than 12,000 institutions in over 60 countries, including the U.S., France, Italy, Japan, Korea, and the UAE. Also, the company’s top-tier technologies have led to collaborations with prestigious institutions such as Yale University, UC Davis, Washington University in St. Louis, and University of Texas.

Highlighting the growth at ECR 2024, United Imaging will feature the uMR Jupiter 5T (not CE marked in EU) at ECR 2024, a revolutionary whole-body 5T MRI system. The world’s first whole-body ultra-high field 5T MR, the uMR Jupiter 5T, is a revolutionary whole-body 5T MRI system. It transcends the traditional constraints of ultra-high-field MRI, previously confined to imaging of the brain and selected MSK joints. The potential applications of the uMR Jupiter 5T extend to encompass not only the brain and MSK, but also the abdomen, cardiac, pelvis and other additional anatomical regions. The uMR Jupiter 5T has the potential to eclipse the capabilities of standard 3T MRI machines in resolution and signal-to-noise ratio, delivering clarity that empowers radiologists to ‘see the unseen.’ The uMR Jupiter 5T is also designed to overcome the key hurdles of ultra-high field MRI: image uniformity and radio frequency safety. It fits into existing 3T MRI spaces, signaling a significant advancement in the industry.

Pioneering the digital transformation of medical imaging, the booth will also feature AI platforms for the full portfolio of innovations. The uAIFI is an end-to-end technology platform that revolutionarily enhances MRI with AI-integrated hardware and software, significantly improving image quality and expediting diagnostic processes while enhancing user-friendliness. Pioneering with care, the uAIFI offers a holistic approach across the care continuum. Standout features include ACS, the AI-assisted MR acceleration technology designed to enhance both 2D and 3D imaging, and EasySense respiratory gating and monitoring, offering a unique, belt-free experience for patients while simultaneously streamlining the workflow for healthcare professionals, redefining the image quality standard. Evolving intelligently, this future-oriented, human-centered platform undoubtedly brings a new level of AI integration to uMR systems. In tandem with uMI scanners, uExcel is a multi-dimensional molecular imaging technology platform. It aims to meet the advanced demands for functionality, usability, safety, stability, and scientific research. Combined with uExcel UDP, the ultra-digital-platform detector, uExcel SCAN, the smart scanning toolset, uExcel CARE, the AI reconstruction engine, uExcel QA, the efficient quality control system and uExcel EXPLORE, the suite for scientific research, this platform empowers the exploration with ease and innovation both today and tomorrow, promising a more comfortable experience for patients, and a more effective workflow for doctors. Furthermore, the uVera Technology empowers the DSA system with intuitively bionic ability by intelligence-driven robotics, perception, and imaging. And the All-In-One Solution redefines radiotherapy workflow efficiency from CT simulation to treatment delivery.

Adhering to the “Born with AI” philosophy and aligning with the theme of this year’s ECR, “Next Generation Radiology,” United Imaging Intelligence (UII), an AI company within the United Imaging Group’s portfolio, will demonstrate how the fusion of AI is revolutionizing healthcare, highlighting the company’s comprehensive approach to innovation. At the company’s booth this year, UII is poised to showcase its latest medical AI technological breakthroughs, including groundbreaking AI applications of large medical image models and surgical planning, as well as a full spectrum of medical AI solutions across neurology, cardiology, thoracic care, and oncology.

In terms of novel AI applications, UII will unveil the uAI SAT, a smart annotation tool powered by the large medical image model, as well as the next generation of uAI Pioneer Portal, which is equipped with a goggle-less 3D monitor controlled by hand gestures. The audience will experience advancements in 3D surgical planning for thoracic, hepatobiliary, and urological surgeries. Additionally, with a wide array of clinical solutions, UII will also present its support throughout the entire clinical workflow from imaging and prevention to diagnosis, treatment, follow-up assessment, and research.

Aiming at propelling radiology into a new era of transformation, UII has deployed its innovative products in over 3,000 medical institutions worldwide and formed research and product collaborations in Europe, remaining steadfast in further expanding development and partnerships across the globe, thus universally enhancing medical AI accessibility.

(Notes: Products and features mentioned herein may not be commercially available in all countries. Their future availability cannot be guaranteed.)

Attendees of the ECR are welcome to explore the forefront of radiology at booth 401 – Expo X4, where United Imaging persists in connecting innovation with patient well-being through cutting-edge technologies.

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Flash News: Native Integrates OKX Wallet for Seamless Access




SINGAPORE, Feb. 22, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for February 23, 2024.

OKX Wallet’s browser extension is now integrated with Native, the invisible decentralized exchange (DEX) layer that allows each DEX to be owned by an individual project. By integrating OKX Wallet, Native users can now easily connect their wallets to access the DEX network’s deep liquidity pools directly from the Native interface.

The integration gives Native traders improved convenience by enabling decentralized trading without leaving Native. Users also maintain control of their private keys while trading on Native’s DEX layer, improving security.

OKX Wallet is a secure and user-friendly crypto wallet and gateway to decentralized apps. By integrating with Native, OKX Wallet gives its users access to Native’s broad DEX liquidity pools and trading capabilities. This creates a smooth, seamless trading experience for the Native community.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit:


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Revolut introduces robo-advisor service in the Republic of Ireland





Revolut, the global financial super-app with a customer base exceeding 35 million worldwide, has recently unveiled its Robo-Advisor service in Ireland.

The company, known for its innovative approach to banking and financial services, aims to simplify the investment process for its users.

The introduction of the Robo-Advisor is a response to the growing demand for accessible investment options. Many potential investors find the research and management of investments time-consuming and complex, especially those with limited trading experience or those who cannot dedicate time to actively manage their portfolios.

Revolut operates as a financial super-app, offering a wide range of services from traditional banking to cryptocurrency trading. The app is designed to be a one-stop solution for users’ financial needs, making it easier to manage money in a fast-paced digital world.

The new Robo-Advisor service is designed to automate the investment process. By answering a series of questions, customers can have a fully diversified and customized portfolio created for them. This portfolio is then automatically managed, with investments made based on the customer’s risk tolerance and financial goals. The minimum investment to access the Robo-Advisor is EUR 100, with an annual management fee of 0.75% of the portfolio value.

Additional features of the Robo-Advisor include the ability for customers to set up recurring transfers from as little as EUR 10, allowing for regular portfolio growth and minimization of the impact of market volatility. The service also automatically rebalances portfolios and conducts periodic reviews to ensure alignment with the customer’s investment objectives.

Rolandas Juteika, Head of Wealth and Trading (EEA) said, “We are excited to add a Robo-Advisor to our suite of wealth and trading products. We know that many of our customers do not have the time to manage a portfolio or invest in individual securities. In fact, 53% of customers we surveyed last year said they simply don’t know where to start when it comes to investing. Built to make investing more accessible, we want to give our customers the ability to make their money work for them in what we believe will be a tailored and stress-free solution.”

Revolut’s recent expansion of its investment offerings across the EEA, including shares of European listed companies and the introduction of Trading Pro for advanced traders, highlights its commitment to providing comprehensive financial solutions. With over 2,200 US-listed securities, 220+ EU-listed securities, and 270 ETFs available through the app, Revolut continues to enhance its platform, making investing more accessible to a broader audience.

Investment services in the EEA are provided by Revolut Securities Europe UAB, which is regulated by the Bank of Lithuania. While Revolut aims to make investing straightforward and efficient, it’s important for customers to remember that investments carry risks, including the potential for loss and currency fluctuations.

Source: Fintech Global

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