The middle office outsourcing solution is the post-trade and pre-settlement solution for middle office departments. Middle office solutions provide accurate data to the front office departments to complete transactions. The middle office operations that include reconciliation, reporting and billing, portfolio accounting, and staff augmentation are important for financial institutions that help in tackling the problems faced in workflow disruption and prevent incorrect reporting.
According to Market Research Future, the Middle Office Outsourcing Market has been segmented based on offering, component, and region/country.
Middle Office Outsourcing Market Growth is Predicted to Reach US$ 12,702.16 Million by 2027 Registering a CAGR of 10.1% During 2021-2027
MRFR understands that the outsourcing of middle office operations have been significantly resilient in the face of the COVID-19 outbreak. SARS-CoV-2 has managed to deeply alter the asset management operations, while remote working arrangements can stay in place during the lockdown period.
On a dim note, fluctuating network capacity and broadband connectivity are some of the operational issues that the novel coronavirus has forced middle office teams to deal with during this period. Investment firms are finding it tough to communicate with their providers seamlessly, which has resulted in delays when it comes to information exchange and operation cycles.
Many of the investment managers are facing issues while trying to access various online tools, such as shared data files and portfolio management systems. This has impeded client reporting while the managers are not able to gain real-time updates of the market.
The pandemic induced vulnerabilities in operations has compelled companies to outsource their middle office tasks to third parties, since a number of investment banks as well as various securities service providers have been able to weather COVID-19 impact comparatively well, in terms of operations. Middle office outsourcing has received a massive boost post the virus outbreak, with increasing adoption across a broader spectrum in various industries.
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By Region, the Global Middle Office Outsourcing Market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is expected to be the largest market due to the presence of a large number of middle office outsourcing providers in the region.
Middle office outsourcing industry has been considered for offering and component.
Offering-wise, the market sections are trade management, portfolio management, and others.
Components assessed in the market study are stock exchanges, broker-dealers, banking & management, and others.
The Key Players in the Global Middle Office Outsourcing Market are Adepa Global Services S.A. Brown Brothers Harriman, Caceis, Hedgeguard, JPMorgan Chase & Co., Northern Trust Corporation, Societe Generale Securities Services, SS&C Technologies, Inc., State Street Corporation, The Bank of New York, Mellon Corporation, Accenture, BNP Paribas SA, Citigroup Inc., and GBST Holdings Ltd.
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Global Middle Office Outsourcing Market Research Report: By Offering (Portfolio Management, Trade Management and others), By Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
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