Middle Office Outsourcing Market Overview
Market Research
Future (MRFR) believes that the Middle
Office Outsourcing Market 2020 can achieve substantial gains at a high rate between
2019 and 2025 (evaluation period). We will provide covid-19 impact analysis
with the report, offering an extensive market evaluation post the coronavirus
disease outbreak.
COVID-19
Analysis
MRFR understands
that the outsourcing of middle office operations have been significantly
resilient in the face of the COVID-19 outbreak. SARS-CoV-2 has managed to
deeply alter the asset management operations, while remote working arrangements
can stay in place during the lockdown period. On a dim note, fluctuating
network capacity and broadband connectivity are some of the operational issues
that the novel coronavirus has forced middle office teams to deal with during
this period. Investment firms are finding it tough to communicate with their
providers seamlessly, which has resulted in delays when it comes to information
exchange and operation cycles.
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Many of the
investment managers are facing issues while trying to access various online
tools, such as shared data files and portfolio management systems. This has
impeded client reporting while the managers are not able to gain real-time
updates of the market. The pandemic induced vulnerabilities in operations has
compelled companies to outsource their middle office tasks to third parties,
since a number of investment banks as well as various securities service
providers have been able to weather COVID-19 impact comparatively well, in
terms of operations. Middle office outsourcing has received a massive boost
post the virus outbreak, with increasing adoption across a broader spectrum in
various industries.
Main Drivers and
Key Challenges
The dire need of
businesses to enhance their overall efficiency can be a prime booster for the
middle office outsourcing market. Attempting to cater to varying demands of
organizations, players are devising innovative products and services, while
developing strategic schemes that can strengthen functions and operations of
the organization. This is bound to assist with market growth in the following
years.
Furthermore, with
the aim to gain a better position in the market and boost their profits, market
participants are conceiving innovative ideas and new techniques as well as
technologies in their middle office services. Also, predictive asset
maintenance have emerged as resourceful services that are helping organizations
bring down the maintenance cost, reduce the spending on scheduled repairs, and
prevent any breakdowns. This can be a notable trend that can lead the market to
greater heights in the coming years.
Speaking of trends,
several companies are adopting big data analytics services for the evolution of
unstructured data to more structured version in a bid to get valuable insights.
Big data analytics help extract information from different online channels for
the purpose of reviewing it with the use of modern analytical tools like
predictive analytics. Such services also help comprehend the behavior pattern
of consumers as well as businesses. Many of the enterprises with expertise in
middle office outsourcing deal with massive amounts of data, in light of the
rising uptake of analytical tools and technologies. In a nutshell, the
increasing consumption of big data analytics services can be a lucrative
opportunity for the players in the middle office outsourcing industry in the
ensuing years.
Market
Segmentation
Middle office
outsourcing industry has been considered for offering and component.
Offering-wise, the
market sections are trade management, portfolio management, and others.
Components assessed
in the market study are stock exchanges, broker-dealers, banking &
management, and others.
Regional Study
The geographic
analysis of the global middle office outsourcing market has been conducted for
North America, Europe, Asia-Pacific, the Middle East & Africa, and South
America.
The biggest gainer
in the global market has been North America, given the frequent technological
advancements taking place across the United States (U.S) and Canada. The US is
in the lead, thanks to the high uptake of digital transformation; along with
the rising use of next generation technologies such as analytics and big data.
The advent of automation has been a key trend in the regional market. MRFR also
highlights the booming financial services industry and the constant innovations
to be some of the chief growth inducers in the middle office outsourcing market
of the region.
Europe can claim
the second biggest share in the market over the next couple of years, on
account of the rising need among enterprises to asses information in real-time.
Surge in regulatory compliances, reduced margins, unprecedented rise in
cyber-attacks, and several technological advancements can help the regional
market gain high momentum during the appraisal period.
A majority of
financial institutions in APAC is opting for automation for middle-office
operations in an attempt to do away with unnecessary processes, offer useful
insights, bring down the costs, and reduce operational risks. Cloud-based
solutions are also observing significant traction across businesses in the
region, making APAC the fastest expanding market.
Renowned
Companies
The Bank of New
York, BNP Paribas SA (France), Caceis (France), Northern Trust Corporation
(US), Accenture (Ireland), Brown Brothers Harriman (US), Adepa Global Services
S.A.(Luxembourg), SS&C Technologies, Inc. (US), JPMorgan Chase &
Co.(US), Hedgeguard (France), GBST Holdings Ltd. (UK), Citigroup Inc. (US),
State Street Corporation (US), Societe Generale Securities Services (France),
Mellon Corporation (US), are some of the renowned companies listed in the MRFR
report.
Recent News
May 2020: Northern
Trust has been chosen by Modular Asset Management, an Asian investment firm, to
provide a range of middle-office outsourcing services, along with collateral
management, risk compliance monitoring and fund administration services to
Modular’s recently started Cayman Islands Modular Asian Macro Fund and
associated entities.
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