PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461193
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461193
Global Banking Credit Analytics Market is valued approximately at USD 963.8 Million in 2022 and is anticipated to grow with a healthy growth rate of more than 17.4% over the forecast period 2023-2030. Banking credit analytics refers to the systematic analysis of credit-related data and information within the banking industry to assess and manage the risk associated with lending money. This process involves utilizing various quantitative and qualitative tools to evaluate the creditworthiness of individuals, businesses, or other entities seeking financial assistance. Credit analytics helps financial institutions make informed decisions about extending loans or lines of credit, setting interest rates and establishing credit limits. The Banking Credit Analytics market is expanding because of factors such as rising digital transformation in the banking industry, growing demand for personalized financial services and high volumes of credit lending.
The escalating volumes of credit lending in consumer financing, small business loans, and mortgages necessitate the implementation of resilient and scalable risk assessment frameworks by banks and lending institutions. This has spurred the demand for flexible, on-demand cloud-based solutions capable of efficiently managing and analyzing large, dynamic sets of credit data to ensure precise risk evaluations. The adoption of such solutions facilitates expedited processing and underwriting of loans, mitigating losses and upholding portfolio quality. In line with a 2022 World Bank report, global household debt levels reached approximately 34% of GDP, underscoring substantial growth in personal loans over the past five years alone. Moreover, Stringent regulatory requirements and compliance standards in the banking sector and Continuous advancements in technology are creating new opportunities to the market growth. However, the cybersecurity concerns and lack of standardization stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Banking Credit Analytics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share, driven by several key factors such as the increasing volume and complexity of financial data, rising awareness of the importance of risk management and regulatory compliance has led North American banks to invest in robust credit analytics platforms. Europe is expected to grow at a fastest rate during the forecast period. The growth in the region is fueled by the expanding adoption among financial institutions, government agencies, and various organizations. Leading the pack in Europe is the United Kingdom, boasting the largest market for financial analytics. Within the UK, major players in the financial landscape, including banks, insurance firms, and investment companies, are progressively embracing these advanced analytics solutions.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable