What is Banking Credit Analytics Market?
Banking Credit Analytics are solutions which offer credit risk analytics, credit rating, ETL, EMI Calculations like Services. Emergence of Fintech Companies has made this process more digitised with use of artificial intelligence and machine learning. The Banking Credit Analysis enable firms to access deep insights into their credit management and identifies any potential risks associated with it. Although dynamic changes in Regulations by various national governments presents a challenge for the growth of the market of banking credit analytics. Geographically, North America is the biggest market although Asia Pacific is steadily rising behind it.
Highlights from Banking Credit Analytics Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM Corporation (United States), SAP (Germany), Oracle Corporation (United States), Moody’s Corporation (United States), SAS Institute (United States), Verisk Analytics, Inc. (United States), Provenir (United States), AxiomSL, Inc. (United States), Recorded Future, Inc. (United States) and Digital Fineprint (England) |
Banking Credit Analytics is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
IBM Corporation (United States), SAP (Germany), Oracle Corporation (United States), Moody’s Corporation (United States), SAS Institute (United States), Verisk Analytics, Inc. (United States), Provenir (United States), AxiomSL, Inc. (United States), Recorded Future, Inc. (United States) and Digital Fineprint (England) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Risk Edge Solutions (India), BRIDGEi2i Analytics Solutions (India) and DataFactZ (United States). Banking Credit Analytics Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Risk Calculation or Credit Rating, EMI Calculations, ETL and Visualisation |
End User | BFSI,IT and Telecom,Retail,Healthcare,Energy and Utilities,Others |
Organisation Size | SMEs,Large Enterprises |
Offerings | Software,Services |
On the basis of geography, the market of Banking Credit Analytics 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Artificial Intelligence and Machine Learning by Banks for Credit Analytics and Emergence of Fintech Companies
Market Growth Drivers:
Surge in Demand for Credit and Growth of Banking Industry
Challenges:
Data Privacy Concerns are rising, Training Existing Professionals with Digital Infrastructure and Integration of Unstructured Data
Restraints:
Rise in Cyber Attack Incidents, High Interest Rates and Dynamic Changes in Regulations
Opportunities:
Software Segment is expected to Boom over the coming years
Key Target Audience
Banking Credit Analytics Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and End-Use Industries
Market Leaders & Development Strategies
In 2019, SS&C Technologies Holdings, Inc., a Multinational Financial Technology Company has announced acquisition of Algorithmics Inc. from IBM Corporation. Algorithmics is said to be one of the industry innovators in risk analytics products for financial services. The acquisition will enable SS&C to expand their risk analytics portfolio.
In 2020, SAS Institute, Global American Analytics Giant has announced acquisition of Boemska. Boemska offers critical batch workloads and interactive self-service analytics applications. The acquisition will help SAS to accelerate its AI integration into its cloud platforms and enhance its advance analytics platform.