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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

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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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TRENDS INFLUENCING THE GROWTH OF THIRD-PARTY BANKING SOFTWARE MARKET

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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THIRD-PARTY BANKING SOFTWARE MARKET SHARE ANALYSIS

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
  • ORACLE CORPORATION
  • SAP
  • TATA CONSULTANCY SERVICES LIMITED
  • INFOSYS LIMITED
  • Capgemini S A
  • Accenture Plc
  • NetSuite Inc
  • Deltek

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  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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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

Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

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https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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