Considering the
economic challenges prevailing worldwide, it has become mandatory to implement
risk IT and service solutions in business operations. Risk IT and service
solutions help in mitigating various risks involved in the BFSI sector such as
credit risks, operational risks, market risks, and ALM and liquidity risks. In
addition, the pure IT risks involved in the BFSI sector are of three types,
data driven, business driven, and event-driven which have their own impacts on
business operations. Risk IT and services solutions drive the productivity of
the business with optimal costs.
Analysts forecast
the Global Risk
IT and Services Market in BFSI Sector to grow at a CAGR of 6.33 percent over the period 2013-2018.
The report
recognizes the following companies as the key players in the Global Risk IT and
Services Market in BFSI Sector: Deloitte Touche Tohmatsu Ltd., Ernst and Young
Global Ltd. (EY), KPMG LLP, PwC and RUBINBROWN LLP.
Other Prominent
Vendors in the market are: Agiliance, Genpact, Linedata, Paladion, Reboot Twice
and SUNGARD.
The adoption of
social media is one of the key trends emerging in the market. Social media is
turning out to be a major platform from which to gather data but along with
this, regulatory compliances are also increasing. Hence, companies are looking
for solutions that can help them meet compliance issues at the optimal price.
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Covered in this Report
The Global Risk IT
and Services market in BFSI Sector expenditure is predominantly categorized
into different risks involved in the BFSI sector such as Credit risks,
Operational risks, Market risks, ALM and Liquidity risks, Financial crime risks
management, Risk governance and management. The report also covers the
segmentation based on pure
IT-based risks: Data
driven, Business driven, and Event driven.
Global Risk IT and
Services Market in BFSI Sector 2014-2018, has been prepared based on an
in-depth market analysis with inputs from industry experts. The report covers
in detail the key leading vendors in the market and a quick understanding of
other prominent vendors operating in this market. It also gives insight into
the market forecast in key regions and identifies leading countries for the
market.
According to the
report, the increasing number of rules and regulations and the ever-tightening
global business regulatory environment are forcing enterprises to turn to
technology-based solutions to reduce risks and improve the way they operate.
The tightening regulatory environment has resulted in the increased demand for
risk IT and services market.
Further, the report
states that security concerns are a major challenge for BFSI companies.
Financial data is crucial for each and every company. The adoption of various
technologies such as social media and cloud technology are making these
companies vulnerable to cyber-attacks.
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