Compliance refers to adhering to standard rules and regulation of an organization and hence, various compliance solutions are used across different industries. Presently, banking organizations require a robust and effective compliance management solutions keep pace with changing laws, regulations, standards, and internal policies. Banking compliance software solutions deliver key features to monitor appropriate rules & regulations and other requirements. Additionally, banking compliance solutions run risk assessments, organize compliance documentations, audit and demonstrate proof of compliance through robust reporting. Banking is a sensitive industry where compliance solutions are a must; therefore, organizations are using various compliance software solutions to protect clients and customers data from hackers. Cloud-based information governance infrastructure has provided various benefits for the banking industry such as low cost, requirement for minimal technological infrastructure, fast processing of data, automatic and continuous upgrade, and remote access of cloud-based data across the organization. Cloud-based governance infrastructure helps the banking industry to deploy policies quickly across applications and systems. Furthermore, information which is collected automatically through the systems is used for making better business decisions. Banking compliance solutions provide various features such as compliance and risk reporting for all levels, automated audit tracking of all compliance changes, and regulatory library with links to the online sources. This solution provides a seamless integration with governance risk compliance (GRC) modules and continuous status tracking through user and management dashboards. However, integration of rules and policies with the software product modules are some challenges faced by the banking compliance solution providers.

Governments are enforcing various rules and regulations on the banking industry due to increasing number of unfair practices. This, in turn, is fueling the demand for banking compliance solutions. Rise in volume and variety of data is creating the need for banking compliance solutions. Players in the market can provide secure solutions, improve productivity and efficiency to customers, and increase portfolio risk solutions to garner larger share.

Increasing adoption of advanced technologies in the banking industry such as machine learning, artificial intelligence (AI), big data, and blockchain are expected to create opportunities in the banking compliance solutions market. However, data breaches and cyber-attacks are increasing with the use of cloud-based technology. This, is a major factor that is likely to restrain the banking compliance solutions market during the forecast period. Additionally, increasing data integration concern is reducing the adoption of banking compliance solutions.

The banking compliance solutions market can be segmented based on component, enterprise size, end-user, and region. In terms of component, the banking compliance solutions market can be bifurcated into software and services. The software segment can be sub-segmented into on-premise and cloud-based. The services segment can be further segregated into managed services and professional services. Additionally, managed services can be divided into enterprise risk management, bank secrecy act compliance, information security compliance, and others, which includes vendor management. Based on enterprise size, the banking compliance solutions market can be categorized into small, medium, and large. In terms of end-user, the banking compliance solutions market can be classified into banking and non-banking. The banking can be sub-segmented into retail, wholesale/corporate banking, investment, and private. The non-banking segment can be classified into insurance, stock exchanges, financial agencies, and asset management firms. Based on region, the global banking compliance solutions market can be split into North America, South America, Europe, Asia Pacific, and Middle East & Africa.

Key players operating in the banking compliance solutions market include LogicManager, Inc., MEGA International, NAVEX Global, Inc., Protiviti Inc, Rsam, SAI Global Pty Limited, SAP SE, SAS Institute Inc, Oracle, Software AG, and IBM Corporation.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Banking Compliance Solutions Market

Pre Book