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    Banking Automation And Roboadvisors Market Report

    Banking Automation And Roboadvisors Market Report
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    Global Banking Automation & Roboadvisors Market, Dynamics, Trends, and Market Analysis See more...

    Impact of COVID-19 on Banking Automation And Roboadvisors Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on Banking Automation And Roboadvisors Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Global Banking Automation & Roboadvisors Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over 5.0% during the forecast period.

    Figure: Global Banking Automation & Roboadvisors Market Size, 2020-2026 (USD Million)

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    What is Banking Automation & Roboadvisors?

    Automation is the technology by which a procedure or a process is performed with minimum human assistance. A Roboadvisor is an online, automated portfolio management service. It uses an algorithm-based portfolio management service that is offered by wealth management companies. As these companies use computer algorithms to manage client investments, Robo-advisors offer their services for a fraction of the cost of a human financial advisor.

    Key Players

    Key players operating in the global banking automation & Roboadvisors market are-

    • Alibaba (China),
    • Antworks (India),
    • Automation Anywhere (The US),
    • BlackRock (The US),
    • Blue Prism (UK),
    • Boston Consulting Group (The US),
    • Charles Schwab (The US),
    • Cio.com (The US),
    • Facebook (The US), and
    • FCA (Financial Conduct Authority) (The US).

    Market Dynamics

    Sheer benefits of banking automation and Robo-advisors to allow automatic management of individual’s wealth based on algorithms is a key driving factor.

    Also, advice related to investment at low cost and increase in maturity of digital advice technologies is likely to support the product demand. Also, the advice related to investment at low cost and surge in the maturity of digital advice technologies further contributes to the industry growth. Moreover, a lack of direct contact or personalized support to the clients can hinder the market expansion.

    Segment Analysis

    Type Trends

    By type, the banking automation & Roboadvisors market has been segmented into robotic process automation, customer service chatbots, and Roboadvisors.

    • Under these, the Roboadvisors segment held a substantial market share in 2020 and is likely to register the fastest CAGR in the following years.
    • Roboadvisor substantially decreases management cost involved in providing all the financial advice through manpower, thereby helping wealth management companies to provide this as a minimal cost service for their customers.

    Regional Trends

    By region, the North American market garnered a significant market share in 2020 and is projected to grow at a steady CAGR during the assessment period. This is mainly attributed to the large number of banking companies coupled with a rising trend of automation in banking systems which results in the increasing implementation of banking automation systems and Roboadvisors.

    COVID-19 Impact on Global Banking Automation & Roboadvisors Market

    The ongoing COVID-19 pandemic has positively influenced the banking automation & Roboadvisors industry due to the increasing surge of coronavirus cases across the globe. Strict lockdown measures coupled with restricted movement of people results in limited visits to banks, thereby promulgating the need for automation in banking systems to incorporate roboadvisors for banking-related queries.

    Critical Questions Answered in the Report

    • What are the key trends in the global banking automation & Roboadvisors market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of the COVID-19 on global banking automation & Roboadvisors market?
    • What are the key strategies adopted by the major vendors to lead in the global banking automation & Roboadvisors market?
    • What is the market share of the top vendors?

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    Target Audience

    • Banking automation & Roboadvisors companies
    • Banking automation & Roboadvisors vendors
    • Automation technology organizations
    • R&D labs
    • BFSI sectors

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The banking automation & roboadvisors market is expected to witness an impressive growth of 5.0% CAGR in the foreseeable future.

    Alibaba (China), Antworks (India), Automation Anywhere (The US), BlackRock (The US), Blue Prism (UK), Boston Consulting Group (The US), Charles Schwab (The US), Cio.com (The US), Facebook (The US) and FCA (Financial Conduct Authority) (The US) are among the key players in the banking automation & roboadvisors market.

    The Roboadvisors segment is expected to register the fastest CAGR in the banking automation & roboadvisors market in the coming years.

    Sheer benefits of banking automation and Robo-advisors to allow automatic management of individuals wealth based on algorithms is the key factor driving the growth of banking automation & roboadvisors market.

    Banking automation & Roboadvisors companies, Banking automation & Roboadvisors vendors, Automation technology organizations, R&D labs, BFSI sectors are the target audience in the banking automation & roboadvisors market.

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