The report forecasts the global consumer credit market to grow at a CAGR of 4.88% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Many top banks are focusing more on expense management so that they can increase the profit margin of the business. This is possible only through upgrading and integration of technology. Many banks are shifting their focus from stand-alone technology projects to an environment where there is a continuous technological improvement. Many top vendors are coming into mergers and acquisitions and joint ventures, which help the businesses to reduce cost so that there can be smooth integration in data mining and organizational resources. It is important that the top banking vendors formulate strategies to attract the different customer segments. This could be possible only through multiple distribution and communication channels. Many top banking vendors are also making use of the cost-effective solutions in infrastructure, communication, and analytics.
According to the report, many global consumer banking institutions offer risk and scenario analytics for different products and services with real-time pricing and capital management of multi-asset portfolios. This unique tool will provide a transparent and detailed solution to clients to buy products and services from specific banking and financial institutions. Finance professionals who deal with consumer banking products use credit data and deal with information that produces cash flows and analytics at the portfolio level. This practical process of pricing the products and solutions should help manage individual portfolios and avoid firm-wide risks through consistency, automation, and transparency. For instance, specialized pricing functions produce all relevant analytics that are useful for consumer banking professionals.
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