According to the new research report published by The Insight Partners, titled “Middle Office Outsourcing Market – Global Analysis and Forecast to 2027”, the global middle office outsourcing market is expected to reach US$ 9.8 Bn in 2027, registering a CAGR of 7.8% during the forecast period 2019-2027.
Outsourcing by asset owners and multifaceted strategy fund managers has increased gradually over the past few years. Companies in the region have been spending huge resources for the development of solutions for those segments looking for transfer agency, integrated custody, middle-office, administration, as well as accounting solutions. Organizations are fulfilling these requirements through targeted acquisitions or organic development. Additionally, more component-based outsourcing proposals for services, including trade processing, fund accounting, and collateral management, are taking place. Asset servicers are beginning to face competition from non-traditional market players, such as business process outsourcing (BPO) and software providers providing stand-alone middle-office services.
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Globally, financial institutions are continuously facing challenges to reduce overhead costs, enhance operational efficiencies, and improve services. As a result, outsourcing business functions has become an integral part of banking operations but has also introduced new risks. An effectively managed outsourced process is one that reduces the cost of operation, improves the quality of service, provides greater compliance with regulatory requirements, increases customer satisfaction, and contributes to the value of the bank.
The report segments the global middle office outsourcing market as follows:
Global Middle Office Outsourcing Market – By Offering
Global Middle Office Outsourcing Market – By Component
Middle Office Outsourcing Market: Strategic Insights
Some of the market initiatives such as partnerships, merger and acquisition, and collaboration strategies were observed to be most adopted strategy in the global middle office outsourcing market. Few of the recent market initiatives are listed below:
2019: IGM Financial Inc. selected CIBC Mellon to assume most of IGM’s fund services functions. This would add fund administration servicing solutions to the custody and related services that CIBC Mellon already performs for IGM.
2019: The Northern Trust launched a range of new client dashboards for Omnium, its middle- and back-office technology platform for alternative fund administration
2018: Archer announced that it is now providing full operations support for registered investment advisor Palladiem LLC, including support for investment-strategy models and custom portfolios.
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