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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