Global remittance software market size is expected to reach US$ 3323.41 Mn by 2025, it is registering at a CAGR of 12.7% during the forecast period, according to a new research study conducted by The Insight Partners.
Growing number of migrants across border will accelerate the Remittance Software Market at a CAGR of 23.2%
The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The global remittance software market is further segmented into: by software, by deployment type, by application and by geography.
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.
Some of the leading remittance software market players include Remit One Ltd., Remit Anywhere, FinCode Ltd., MTS, Girmiti Software Private Limited, Grey Systems, ControlBox Corp. NextGen Systems UK Limited, Fiserv, Inc., and Daemon Software among others.
The report segments the global remittance software market as follows:
Global Remittance Software Market - By Software
Web-Based Software
Application Based Software
Global Remittance Software Market - By Deployment Type
On-Premise Deployment Type
Cloud Deployment
Global Remittance Software Market - By Application
Personal Remittance Software Market
Business Remittance Software Market
Public Remittance Software Market
Global Remittance Software Market - By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
U.K.
Rest of Europe
Asia Pacific (APAC)
Japan
China
India
Australia
Rest of APAC
Middle East & Africa (MEA)
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
South America (SAM)
Brazil
Rest of SA
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