About Financial Services Consulting
Financial services firms are facing an unprecedented range of strategic challenges, both from within and outside the industry. Financial needs and consumer behaviours are changing because of demographic shifts, social change and the acceptance of new technology as a means of delivering financial services. The availability of data and the resulting ability to understand customers better is increasing rapidly, inspiring a move away from product-centric approaches and toward more customer-centric models. Traditional business models are being disrupted directly by these trends, and by the emergence of the new fintech models, they enable. Thereby, the financial consulting services are rapidly gaining significance across the various financial institutes. The financial consulting services are the head of all the other services related to finance like banking, insurance, and retail management. This industry looks over all the other economic activities and tries to manage the risk that can be encountered within the economic sector. There are numbers of consulting firms and agencies that are providing solutions regarding the economic-related queries.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Financial Services Consulting market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bain & Company (United States), KPMG (Netherlands), Deloitte (United Kingdom), MacKinsey & Company (United States), EY (United Kingdom), Boston Consulting Group (United States), Capco (Belgium), BearingPoint (Netherlands), Delta Capital (United Kingdom), Alvarez & Marsal (United States), InnoPay (Netherlands) and Sionic (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Elixirr (United Kingdom), Projective (Belgium), PA Consulting Group (United Kingdom), Convedo (United Kingdom), Korn Ferry (United States), Mazars (France), OC& C Strategy Consultants (United Kingdom) and Sia Partners (France).
Segmentation Overview
AMA Research has segmented the market of Global Financial Services Consulting market by Type (Financial Management, Risk & Regulatory, HR & Change Management, Operational Improvement, Strategy and Technology), Application (Banking, Insurance, Private Equity and Others) and Region.
On the basis of geography, the market of Financial Services Consulting has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. SMEs will boost the Financial Services Consulting market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of Artificial Intelligence is the Hottest Trend in the Consulting Services
Market Growth Drivers:
Rapidly Growing Financial Services Industry Worldwide, Upsurging Demand for Consulting Services Due to Tighter Regulations Coupled with Robust Competition, A Sharper Focus of Financial Companies on Customer Experience Further Propelling the Growth of the Market and Introduction of New Technology Models Boosting the Demand for Consulting Services
Challenges:
COVID-19 Pandemic is expected to be Major Challenge for the Market
Restraints:
Stability of Some Huge Banks, Worries about the State of Global Economy
Opportunities:
Rapid Demand from Asia Pacific Region is expected to Open Lucrative Opportunities for the Market during the Projected Period
Market Leaders and their expansionary development strategies
On 8 May 2019, BlackFin Group Officially Launches Financial Services Consulting Practice., and On July 2021, EY Announced That It is Planning To Expand its Financial Service Consulting in Europe, Middle East, India and Africa. A total of 3000 Roles will be Added During the Process.
Key Target Audience
Financial Services Consulting Companies, Financial Institutions, Regulatory & Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.