GCCs in the BFSI Market Size, Share, Growth, Scope, and Forecast 2032
The GCCs in the BFSI Market Size were valued at USD 40.43 billion in 2023 and are expected to reach USD 132.18 Billion by 2032, growing at a CAGR of 12.54% over the forecast period 2024-2032.
This comprehensive market study looks at the industry's current and future market prospects, as well as recent changes such as market drivers, opportunities, challenges, and restraints in developed and emerging economies. This GCCs in the BFSI Market study is a one-of-a-kind representation of Porter's five forces analysis, a complete examination of market views. The market is revealed through the value chain. It also includes information on the industry landscape, market dynamics, and future growth possibilities.
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GCCs in the BFSI Market Key Players:
l Accenture (Digital Banking Solutions, Fraud Detection Services)
l Cognizant (Cognizant Banking Platform, Insurance Services)
l TCS (Tata Consultancy Services) (TCS BaNCS, TCS iON)
l Infosys (Finacle Banking Solution, Infosys Risk and Compliance Management)
l Wipro (Wipro HOLMES, Wipro’s Digital Banking Suite)
l HCL Technologies (HCL Banking and Financial Services, HCL Cybersecurity Services)
l Capgemini (Capgemini Financial Services Solutions, Capgemini Digital Insurance Services)
l IBM (IBM Watson Financial Services, IBM Cloud for Financial Services)
l Deloitte (Deloitte Digital Banking, Risk Management Solutions)
l EY (Ernst & Young) (EY Financial Services Advisory, EY Risk Transformation)
l KPMG (KPMG Digital Transformation, KPMG Regulatory Services)
l FIS (FIS Modern Banking Platform, FIS Risk and Compliance Management)
l SAS (SAS Analytics for Banking, SAS Fraud Management)
l Oracle (Oracle Financial Services Analytical Applications, Oracle Banking Digital Experience)
l SAP (SAP Banking Services, SAP Financial Services)
l MUFG (Mitsubishi UFJ Financial Group) (MUFG Banking Solutions, MUFG Digital Transformation)
l Standard Chartered (Standard Chartered FinTech Investments, SC Ventures)
l BNP Paribas (BNP Paribas Digital Banking Solutions, BNP Paribas Corporate & Institutional Banking)
l JP Morgan Chase (JP Morgan Payments, JPMorgan Digital Banking)
l HSBC (HSBC Global Banking and Markets, HSBC Digital Solutions)
l American Express (Payment Solutions, Fraud Detection Services)
l Visa (Payment Processing Solutions, Risk Management Solutions)
l Mastercard (Payment Gateway Services, Data Analytics Solutions)
l PayPal (Digital Wallet Services, Merchant Solutions)
l BNY Mellon (Investment Management Services, Custody Solutions)
l Goldman Sachs (Investment Banking Services, Asset Management Solutions)
The growing prominence of Global Capability Centers (GCCs) in the Banking, Financial Services, and Insurance (BFSI) market reflects a transformative shift toward greater operational efficiency, innovation, and cost optimization within the sector. GCCs, often based in low-cost or strategically located offshore hubs, serve as centralized hubs for delivering a wide range of services, including risk management, compliance, data analytics, and technology development, for global BFSI organizations.
Market Segmentation
By Service Type
l Core Banking Operations
l Financial Services
l Insurance Services
l Actuarial Services
l IT and Digital Services
l Customer Support Services
By Technology:
l Artificial Intelligence (AI) & Machine Learning (ML) in Banking
l Blockchain and Distributed Ledger Technology
l Robotic Process Automation (RPA) in BFSI
l Big Data and Analytics for Fraud Detection & Risk Management
l Cloud Computing & Digital Transformation
l Cybersecurity Solutions
l Digital Payments & Fintech Solutions
By Company Size
l Small size & Mid Size
l Large size
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The GCCs in the BFSI Market study examines the competition landscape, product market sizing, product benchmarking, market trends, product advancements, financial analysis, strategic analysis, and other factors to determine the market's effect forces and opportunities. Aside from that, the report examines important market developments such as product launches, agreements, acquisitions, partnerships, and mergers, among other things, to have a deeper understanding of current market dynamics and their impact over the forecast period.
Market Research Outlook
The research team conducted thorough primary and secondary research for the GCCs in the BFSI Market analysis. Secondary research was carried out to refine the present data and segment the market in order to calculate the total market size, forecast, and growth rate. The market value and market growth rate were calculated using a variety of approaches. The numbers obtained through secondary research have been verified by appropriate primary research. To validate the facts, it will be necessary to track down and interview key industry executives. This allows the analyst to produce the most accurate data possible, with the fewest potential variations from the true value.
To develop a more comprehensive regional picture, the team compiles market figures and data from a variety of sources. The country-level analysis of the paper is based on an examination of a number of regional players, policies, consumer behavior, and macroeconomic factors. As many executives, managers, key opinion leaders, and industry specialists as possible are interviewed by the analysts. Because the reports are based on multi-level GCCs in the BFSI Market research, they are more trustworthy.
Competitive Outlook
The impact of regional restrictions and other government acts on the GCCs in the BFSI Market is explored. It also looks at a few key market strategies used by the industry's top players, such as partnerships, business expansions, and acquisitions by the firms covered in the study. This study does an in-depth analysis of the market size, various services provided by enterprises, and market opportunity. The research will give firms a 360-degree industry picture as well as insights to help them make better decisions. An in-depth examination of the macro and micro elements that influence the market, as well as critical advice.
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