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Third-Party Banking Software Market to Grow by USD 10.56 Billion (2025-2029), Digital Payment Solutions Boost Growth, AI Impact on Market Trends – Technavio

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NEW YORK, Jan. 2, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global third-party banking software market size is estimated to grow by USD 10.56 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  6.6%  during the forecast period. Growing use of digital payment solutions is driving market growth, with a trend towards incorporation of analytics into third-party banking software. However, issues related to data privacy and security  poses a challenge. Key market players include American Express Co., Bank of America Corp., Capgemini Services SAS, Capital Banking Solutions, Fidelity National Information Services Inc., Finastra, Fiserv Inc., HCL Technologies Ltd., Infosys Ltd., Intellect Design Arena Ltd., JPMorgan Chase and Co., Mambu BV, Nucleus Software Exports Ltd., Oracle Corp, Q2 Holdings Inc., SAP SE, Sopra Steria Group SA, Tata Consultancy Services Ltd., Temenos AG, The Goldman Sachs Group Inc., Wipro Ltd., and ZKAPITOL Technologies Ltd.,Microsoft Corporation; International Business Machines (IBM) Corporation; Oracle Corporation, Accenture plc; FIS. Inc.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Third-Party Banking Software Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 6.6%

Market growth 2025-2029

USD 10555.1 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.2

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 29%

Key countries

US, China, UK, Germany, Canada, India, South Korea, Japan, France, Italy, Brazil.

Key companies profiled

American Express Co., Bank of America Corp., Capgemini Services SAS, Capital Banking Solutions, Fidelity National Information Services Inc., Finastra, Fiserv Inc., HCL Technologies Ltd., Infosys Ltd., Intellect Design Arena Ltd., JPMorgan Chase and Co., Mambu BV, Nucleus Software Exports Ltd., Oracle Corp, Q2 Holdings Inc., SAP SE, Sopra Steria Group SA, Tata Consultancy Services Ltd., Temenos AG, The Goldman Sachs Group Inc., Wipro Ltd., and ZKAPITOL Technologies Ltd., Microsoft Corporation; International Business Machines (IBM) Corporation; Oracle Corporation, Accenture plc; FIS. Inc.

Market Driver

The banking industry is witnessing a shift in customer behavior, with an increasing preference for mobile devices and digital technologies to access banking services. This trend has resulted in a significant expansion of customer data for enterprises. To effectively utilize this data, third-party banking software with analytics is gaining popularity. These solutions offer benefits such as improved decision-making, risk reduction, enhanced customer insights, and performance optimization. Integration with CRM and other systems streamlines operations and enables smarter choices. Companies like Temenos AG provide analytics solutions with their retail banking software, featuring KPIs, pre-built models, applications, dashboards, reports, predictive analytics, and real-time data. This trend is expected to boost the demand for third-party banking software in the forecast period. 

The third-party banking software market is experiencing significant growth due to increasing demand for digital solutions. Cloud-based banking systems are trending, offering flexibility and accessibility. Components such as core banking, computes, and infotronic systems are essential for these solutions. Advanced features like real-time processing, security, and integration with other financial systems are key considerations. Banking institutions are adopting these solutions to streamline operations and enhance customer experience. The market is competitive with players offering customizable and cost-effective solutions. The future of banking is digital, and third-party software providers are at the forefront of this transformation. 

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 Market Challenges

The third-party banking software market faces challenges due to data privacy and security risks. Big Data and AI increase the vulnerability of enterprise data in IT infrastructure, particularly in cloud environments. Financial institutions are wary of potential misuse of customer information, leading to hesitance in adopting third-party software. This skepticism hinders market growth. Data security and privacy are paramount to prevent fraud and protect intellectual property.The third-party banking software market faces several challenges. One significant challenge is ensuring security and compliance with regulations, particularly in areas like customer identification and transaction tracking. Another challenge is keeping up with the latest technology trends, such as cloud computing and artificial intelligence, to offer innovative features and improve user experience. Additionally, integrating with various banking systems and ensuring seamless data transfer can be complex. Lastly, providing 24/7 customer support and handling queries efficiently is crucial to retain customers and maintain a good reputation.

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Segment Overview 

This third-party banking software market report extensively covers market segmentation by  

Type 1.1 Core banking software1.2 Omnichannel banking software1.3 Business intelligence software1.4 Wealth management softwareDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and AfricaApplicationEnd-use

1.1 Core banking software- The global third-party banking software market’s core banking segment is projected to expand due to retail banking’s growth. Government initiatives promoting bank account opening in countries like India boost retail banking, increasing the demand for core banking software among enterprises. Vendors, such as Temenos AG and Fidelity National Information Services Inc., respond by offering advanced systems. These solutions enable efficient application processing, reduce errors, and provide omnichannel access, catering to banking enterprises’ digital transformation needs.

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Research Analysis

The Third-Party Banking Software Market in the BFSI industry is experiencing significant growth due to the adoption of digital technology and cloud-computing services. This market includes software solutions for core banking systems, operational efficiency, risk management, wealth management, and business intelligence. These advanced analytical tools enable financial transaction tracking, bookkeeping, and omnichannel banking. Cloud computing, with its benefits of cost savings and scalability, is a major driver for the market. Big data analytics and encryption are essential components of these systems, ensuring information security and contributing to economic growth. Traditional methods are being replaced by computerized methods to enhance efficiency and productivity in commercial and retail banks.

Market Research Overview

The Third-party Banking Software Market refers to the industry that provides financial institutions with software solutions to manage their operations efficiently. These solutions include core banking systems, payment processing systems, treasury management systems, and customer relationship management systems. The market is driven by the increasing demand for digital transformation in the banking sector and the need for cost-effective and efficient solutions. The software enables banks to offer innovative services, improve customer experience, and comply with regulatory requirements. The market is expected to grow significantly due to the rising adoption of cloud-based solutions and the integration of artificial intelligence and machine learning technologies. The solutions offer features such as real-time transaction processing, advanced security, and seamless integration with other systems.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeCore Banking SoftwareOmnichannel Banking SoftwareBusiness Intelligence SoftwareWealth Management SoftwareDeploymentOn-premisesCloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Amazfit Announces the Active 2; the Ultimate Everyday Smartwatch for Active and Healthy Living

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MILPITAS, Calif., Jan. 7, 2025 /PRNewswire/ — Amazfit, a leading global smart wearables brand owned by Zepp Health (NYSE: ZEPP), a health technology company, today announced the launch of its latest lifestyle smartwatch: the Amazfit Active 2, a wearable that bridges elegance and functionality.

Debuting at CES 2025 and featured at Pepcom and ShowStoppers media events, the Amazfit Active 2 is a lifestyle statement for fashion conscious and health-oriented consumers who want to monitor their fitness without compromising on aesthetics.

Stylish Design Meets Competitive Advantages 

Along with a body crafted from stainless steel, the Amazfit Active 2 boasts a round 1.32-inch high-definition AMOLED display that can reach a peak brightness of 2,000 nits, ensuring that users can see their exercise data and maps even under bright sunlight. Consumers can choose from two models when purchasing: a premium version priced at $129.99 that features a black genuine leather strap and a resilient sapphire glass screen covering, or a standard version priced at $99.99 that comes with either a red or black sports-style silicone strap for enhanced breathability during exercise. The premium version will also come with one of these sports-style red silicone straps in the box, as a secondary strap option to equip for workouts.

Cutting-Edge Technology

– Latest Generation Biosensor: The BioTracker™ 6.0 PPG biosensor features a dual-LED and 5PD build, which picks up more biometric signals for enhanced precision in health monitoring and measurement. Zepp Health Corporation zepp.com 2

– Upgraded Heart Rate and Sleep Algorithms: The PulsePrecision™ algorithm enhances heart rate tracking accuracy to the level of the Amazfit T-Rex 3, while the RestoreIQ™ algorithm gives sleep monitoring a similar accuracy boost.

– Additional Sensors: Compared to the previous generation of Amazfit Active, the new release adds a barometer for accurate altitude measurements and support of new sports like skiing, along with an accelerometer and gyroscope for precise recognition of sleep and movement, and an ambient light sensor for optimal display under varying light conditions.

– Extended Battery Life: With a robust 10-day battery life under typical use, the Active 2 is a device that won’t need recharging every night.

Zepp Flow™: Enables users to control their watch settings, adjust their calendar, and more with just their voice, while also granting Android users the ability to reply to instant messages with either keyboard or speech-to-text input.

Zepp Pay: Users in Europe can experience secure contactless payments when they purchase the premium version, with this model being named the Amazfit Active 2 NFC on European channels.

Fitness and Wellness Features

– Dynamic Fitness Modes: Over 160 sports modes including HYROX Race Mode, a smart Strength Training mode that can auto-detect specific exercises and intelligently count reps, sets, and rest time, and new winter sports like Skiing.

– Offline Maps with Turn Directions: Supported by 5 satellite systems, users can navigate with ease by importing offline maps and route files to the watch that come with turn-by-turn directions, which can be followed on-screen or broadcast via the built-in speaker or the user’s connected Bluetooth headphones.

Zepp Coach™ Integration: Offers personalized training and running plans, empowering users of all levels to achieve fitness milestones from 3K runs to full marathons.

– Tailored for Women: With the Wild.AI mini app, women can connect to their accounts directly from the watch for personalized wellness insights tied to their menstrual and hormonal cycles.

– Advanced Health Insights: A daily Readiness score summarizes mental and physical recovery and provides actionable insights, while the HRV feature delivers specialized recovery data.

With its stylish design, premium materials, and advanced capabilities, the Amazfit Active 2 delivers exceptional value as the ultimate companion for fitness enthusiasts and trendsetters alike.

Availability and Pricing

The Amazfit Active 2 is now available for pre-order in the United States on us.amazfit.com, and will be available globally in February, via Amazfit’s official website and through retail partners, with prices starting at $99.99 for the standard version and $129.99 for the premium version. Zepp Health Corporation zepp.com 3

For more information, please visit www.amazfit.com and follow us on Facebook, Instagram, X (formerly Twitter), and YouTube.

About Amazfit

Amazfit, a leading global smart wearable brand focused on health and fitness, is part of Zepp Health (NYSE: ZEPP), a health technology company. Offering a wide selection of smartwatches and bands, Amazfit’s brand tagline “Discover Amazing”, encourages individuals to break their barriers, and exceed expectations while finding joy in every moment.

Amazfit is powered by Zepp Health’s proprietary health management platform that delivers cloud-based 24/7 actionable insights and guidance to help users attain their wellness goals. With outstanding craftsmanship, Amazfit smartwatches have won many design awards, including the iF Design Award and the Red Dot Design Award.

Launched in 2015, Amazfit is today embraced by millions of users. Its products are available in more than 90 countries across the Americas, EMEA, and APAC regions. For more information about Amazfit, visit www.amazfit.com.

SOURCE Amazfit

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The Groundbreaking Lucid Gravity to Leverage Panasonic Energy’s Latest-Generation High-Performance EV Batteries

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LAS VEGAS and NEWARK, Calif., Jan. 6, 2025 /PRNewswire/ — Panasonic Energy Co., Ltd., a global leader in the battery industry, and Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced electric vehicles, today announced the highly anticipated Lucid Gravity Grand Touring will be powered by Panasonic Energy’s lithium-ion EV battery cells. With an EPA-estimated range of up to 450 miles1 from a battery pack that is up to 40 percent smaller than competitors’, the collaborative efforts between Panasonic and Lucid have helped deliver an SUV with a previously impossible combination of outstanding range, performance and interior space.

Lucid Gravity is a groundbreaking new class of SUV, conceived from the ground up without compromise. Enabled by Lucid’s revolutionary technology, Lucid Gravity provides the interior space and practicality of a full-size SUV with up to 120 cubic feet of total usable cargo space2, all contained inside the exterior footprint of a mid-size SUV. As a result, it provides a sophisticated space for up to seven adults, game-changing versatility, and an unparalleled driving experience. The Lucid Gravity Grand Touring offers 828 horsepower, is capable of 0-60 in under 3.5 seconds, and has an EPA-rated range of up to 450 miles.

These impressive features are enabled in part by Panasonic Energy’s latest-generation high performing 2170 cylindrical lithium-ion battery cells, which offer an energy density of above 800Wh/L (watt-hours per liter), an industry-leading achievement. These high-capacity cells were realized through a closer working relationship with Lucid and are designed to specifically meet Lucid’s exceptional standards for fast-charging, safety, longevity and performance. Lucid Gravity will be one of the first vehicles to leverage this next-generation cell at scale.

Panasonic Energy, a global leader in lithium-ion batteries, is renowned for its high-quality and high-reliability battery cells. By December 2023, the company had supplied approximately 15 billion lithium-ion EV batteries globally, equivalent to powering 3 million EVs, without any vehicle recalls due to battery-attributed issues. This record further emphasizes Panasonic Energy’s unwavering commitment to quality and safety. Panasonic and Lucid’s collaboration on the Lucid Gravity have further strengthened Lucid’s industry-leading powertrain system.

The partnership between Panasonic Energy and Lucid was established through several multi-year agreements in 2022. Panasonic Energy’s batteries have also been successfully integrated into the award-winning Lucid Air Pure. This success has prompted the adoption of Panasonic’s advanced cylindrical lithium-ion batteries in the Lucid Gravity models as well. The Lucid Gravity Grand Touring, with a starting price of $94,9003, officially started production in December 2024 at Lucid’s vertically integrated factory in Arizona. The Lucid Gravity Touring, which will have a starting price of $79,900 and is planned for late 2025, will also use Panasonic Energy’s 2170 batteries. Panasonic Energy’s 2170 battery cells, key to both models, are produced in Japan, with expected future production at Panasonic’s new production facility in Kansas.

“Lucid Gravity is truly the first SUV that does not force customers to compromise,” said Peter Rawlinson, CEO at Lucid. “It brings together a previously impossible combination of attributes with the interior space of a full-size SUV, the performance of a sports car with supreme comfort, and an EPA rated range of up to 450 miles1. Through our advanced technology and collaboration with Panasonic, we have achieved this with an impressively small battery pack compared to competitors. This is critical to preserving earth’s precious resources and I look forward to our continued work with Panasonic as we further sustainable mobility for the benefit of all.” 

“We are extremely proud of our collaboration with Lucid. By combining our high-performance, high-energy density cells with Lucid’s technology, we have been able to utilize the unique characteristics of our cylindrical cells, resulting in a SUV with unparalleled performance and range. This underscores our continued efforts in aiming to set new standards in the EV industry and contributing to a sustainable society,” said Kazuo Tadanobu, CEO of Panasonic Energy.

About Panasonic Energy

Panasonic Energy Co., Ltd., established in April 2022 as part of the Panasonic Group’s switch to an operating company system, provides innovative battery technology-based products and solutions globally. Through its automotive lithium-ion batteries, storage battery systems and dry batteries, the company brings safe, reliable, and convenient power to a broad range of business areas, from mobility and social infrastructure to medical and consumer products. Panasonic Energy is committed to contributing to a society that realizes happiness and environmental sustainability, and through its business activities the Company aims to address societal issues while taking the lead on environmental initiatives. For more details, please visit https://www.panasonic.com/global/energy/

About Lucid Group

Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.

Media Contacts
media@lucidmotors.com 

Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “shall,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding plans and expectations with respect to Lucid Gravity, including the timing for future trim and its starting price, the promise of Lucid’s partnership with Panasonic, plans and expectations with respect to Panasonic’s battery cell production plans, and the promise of Lucid’s technology. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid’s management. These forward-looking statements are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading “Risk Factors” in Part II, Item 1A of Lucid’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, as well as other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid’s expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid’s assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

1. EPA est. range rating for Lucid Gravity Grand Touring when equipped with 20″F/21″R wheels and configured as 2-row, 5-seat vehicle is 450 miles. EPA est. range ratings for Lucid Gravity Touring will be provided when available. Range and battery power vary with temperature, driving habits, charging and battery condition and actual results will vary.

2. When configured as a 2-row, 5-seat vehicle.

3. Excludes tax, title, license, options, destination and other fees. For U.S. market only. [Vehicle shown here with optional features]

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Zepp Clarity Introduces “Try Before You Buy” OTC Hearing Aids Program at CES 2025, Empowering Consumers with Confidence and Convenience

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MILPITAS, Calif., and LAS VEGAS, Jan. 6, 2025 /PRNewswire/ — Zepp Clarity, the smart hearing solutions brand owned by Zepp Health (NYSE: ZEPP), a health technology company, today unveiled its innovative “Try Before You Buy” program at CES 2025. This initiative addresses a critical gap in hearing aid adoption by encouraging the older population to explore hearing solutions in a low-pressure, hands-on environment.

Despite the widespread prevalence of disabling age-related hearing loss, industry surveys and epidemiological studies have consistently documented that only 15% to 30% of adults with mild-to-moderate hearing loss obtain hearing aids. Many cite uncertainty about their effectiveness or discomfort with the commitment as barriers to adoption.

The “Try Before You Buy” model empowers individuals to experience the transformative benefits of Zepp Clarity’s advanced hearing solutions firsthand, boosting confidence and encouraging greater utilization of hearing aids.

With three state-of-the-art models—Clarity Omni, Clarity One, and Clarity Pixie — Zepp Clarity is redefining hearing care by offering consumers the opportunity to experience advanced hearing solutions through a trial period in their homes.

Zepp Clarity provides a lifetime customer support guarantee and access to certified audiologists to its users, ensuring professional guidance and peace of mind for every customer.

Zepp Clarity Pixie, A Nearly Invisible Hearing Aid Providing A Leap Forward in Technology

At the forefront of Zepp Clarity’s offerings is the Zepp Clarity Pixie, a next-generation hearing aid solution designed for individuals with mild to moderate hearing impairment. The Pixie redefines the hearing aid experience with a nearly invisible design, seamless wireless connectivity, and a lightweight titanium alloy shell. Additional features include IPX7 water resistance, an impressive 17-hour battery life, and the ability to customize settings through the Zepp Clarity App, offering eight unique programs tailored to individual preferences.

The Pixie also includes innovative functionalities such as Clarity Boost, Smart Phone Call support, and a handy Find Device feature, ensuring users can navigate their daily routines with confidence and convenience. With a suggested retail price of $1,499, the Zepp Clarity Pixie is now available at https://clarity.zepp.com.

Empowering Hearing Health for All

Hearing loss impacts 48 million Americans and nearly 430 million people worldwide, yet adoption rates for hearing aids remain low. Zepp Clarity’s mission is to address this critical health challenge by combining cutting-edge wearable technology with expert audiology insights.

Registered as FDA-Exempt Class II medical devices, Zepp Clarity’s hearing aids are meticulously designed to offer discreet, high-performance solutions for adults aged 18 and older, enhancing both their hearing and overall wellness.

About Zepp Clarity

Zepp Clarity, a smart hearing solutions brand under Zepp Health, empowers individuals to live their healthiest lives. Guided by the belief that hearing health is integral to total wellness, Zepp Clarity leverages advanced hearable technologies, AI healthcare algorithms, and the expertise of leading audiologists to create personalized, high-performance hearing systems.

For more information about Zepp Clarity, visit https://clarity.zepp.com.

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SOURCE Zepp Health

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