Jul 6, 2020 5:15 AM ET
iCrowd Newswire – Jul 6, 2020
Remittance Software Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period.
Latest market study on “Remittance Software Market 2025 by Software (Web-based, and App based); Deployment Type (Cloud, and On-premise); & Application (Personal Remittance, Business Remittance, Public Services Remittance) – Global Analysis and Forecast”, the Remittance Software market is estimated to reach US$ 3323.4 million by 2025 from US$ 1279.6 million in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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The propagation of smartphone and mobile app based remittance service are some of the trends contributing to the emerging remittance software market. Almost all the industry verticals are increasingly demanding Remittance software capabilities that improve the mobile workers’ collaboration and productivity while limiting security risks. Similarly, with the increase in customer demands and expectation remittance industry also innovating with the growth of smartphones and other smart devices by providing online transfer more convenient and cheaper. Although, emerging technologies such as blockchain, AI, and big data has created massive opportunities in remittance market by reducing inefficiencies and inaccuracy with the help of automation.
There has been constant development in remittance software industry. Recently, Fiserv declared that BDO Unibank (Philippines) has extended its relationship with the company. Based on a pervious relationship with Fiserv for more than18 years, the bank will modify Signature core account processing platform with the latest version and to increase managed services from Fiserv. Also, RemitONE and Daytona (Europe) join hands to monitor online, agent, and mobile-based transactions with high security across multiple corridors. Providers have entered into an agreement to implement advanced remittance technology that includes AML & KYC procedures so as to provide range of appropriate money transfer services across Africa, the UK, South Asia and Middle East.
Top Listed Companies in Remittance Software Market are –
- Remit One Ltd.
- Remit Anywhere
- FinCode Ltd.
- Girmiti Software Private Limited
- Grey Systems
- ControlBox Corp
- NextGen Systems UK Limited
- Fiserv, Inc.
- Daemon Software.
The report focuses on an in-depth segmentation of remittance software market based by software, by deployment type, and by application. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The regional market has been further bifurcated by respective countries. By application segment personal remittance software accounted for the largest market share and highest market growth in 2017; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
The report aims to provide an overview of global remittance software market with detailed market segmentation. Also, it analyzes the current remittance software market scenario and forecasts the market till 2025. The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the market along with their market strategies. The report also provides PEST analysis of all five regions along with the SWOT analysis for all company profiled in the report.
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Keywords: Remittance Software Market, Remittance Software, Remittance Software Market 2020, Remittance Software Market 2027