Industry Background:
Banking Automation & roboadvisors also known as automated wealth investment services. Banking Automation is a process of automatic banking in which performing all transactions through centralized database. This process is done by using software. Robo- Advisor is a financial advisor who provide financial as well as investment advice online with moderate to minimal human involvement. There are various types of banking automation process such as robotic process automation, customer service chatbots and robo-advisors. The main application of banking automation and roboadvisors are to assess risk tolerance as well as come up with fund portfolio options.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Automation Anywhere (United States), BlackRock (United States), Blue Prism (United Kingdom), Alibaba (China), Antworks (Singapore), Boston Consulting Group (United States), IBM (United States), Charles Schwab (United States), FCA (Financial Conduct Authority) (United Kingdom) and HSBC (United Kingdom) |
This growth is primarily driven by Rising Awareness about Benefits of Banking Automation and Adoption of Robotic Process Automation.
Globally, a noticeable market trend is evident Increasing Demand due to Customer Service Chatbots
The Robotics & Automation sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Automation Anywhere (United States), BlackRock (United States), Blue Prism (United Kingdom), Alibaba (China), Antworks (Singapore), Boston Consulting Group (United States), IBM (United States), Charles Schwab (United States), FCA (Financial Conduct Authority) (United Kingdom) and HSBC (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Banking Automation & Roboadvisors 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.
Key Developments in the Market:
On 24th Saptember 2018, BlackRock has acquired Citibanamex’s asset management business. The deal was established for fixed income, equity, and multi-asset funds holding approximately 34 billion dollar in investments.
On 9th May 2018, BlackRock has invested 50 million dollar microinvesting site Acorns. The personal finance app allows customers to automatically invest spare change from everyday purchases, such as those made via credit card transactions, in exchange-traded funds from BlackRock and Vanguard.
Influencing Trend:
Increasing Demand due to Customer Service Chatbots and Introduction of IoT in Banking Automation Services
Market Growth Drivers:
Rising Awareness about Benefits of Banking Automation and Adoption of Robotic Process Automation
Challenges:
Process Standardization and Organizational Difficulties
Restraints:
Robo – Advisor are Available for Limited Hours and Several Robo – Advisor aren’t available on Weekends
Opportunities:
Technological Innovation in Emerging Country
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Banking Automation & Roboadvisors Market
- Analysis about New Entrants in Banking Automation & Roboadvisors Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Banking Automation & Roboadvisors Study Sheds Light on
The Banking Automation & Roboadvisors Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Banking Automation & Roboadvisors industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Banking Automation & Roboadvisors industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.