The Banking Maintenance Support & Services Market size is expected to grow from USD 10.40 billion in 2023 to USD 14.12 billion by 2028, at a CAGR of 6.30% during the forecast period (2023-2028).
The number of people living in emerging economies is growing very quickly, and more and more attention is being paid to improving the in-branch experience for customers.
The competitive landscape of the banking maintenance, support, and service market is consolidated due to the presence of a few major service providers worldwide. The service providers are partnering with several banking institutions globally to expand their services and help these institutions enhance their customer experiences.
In March 2022, Kyash, a Tokyo-based mobile finance software company, raised USD 41.2 million in Series D fundraising (4.9 billion yen). Japan Post Investment Corporation, Block (previously known as Square), Greyhound Capital, SMBC Nikko Securities, Altos Ventures, Goodwater Capital, StepStone Group, JAFCO Group, Mitsui Sumitomo Insurance Capital, and other investors participated in the round.
In January 2022, OneConnect Financial Technology Co., Ltd., a leading technology-as-a-service platform for financial institutions, announced that it had formed a strategic alliance with Chengfang Financial Technology Co., Ltd., a financial technology company started by the People's Bank of China. Under the terms of the agreement, OneConnect and Chengfang Financial Technology will work together to find new uses for data privacy technology in bank surveillance systems, promote the introduction and sharing of new data standards, and find the financial data collaboration and circulation models that businesses need to meet the requirements for secure cloud computing.
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