The global banking credit analytics market size is expected to attain a significant growth in the coming years, owing to rise in penetration of big data and artificial intelligence in the banking industry. Credit analytics is widely used to estimate creditworthiness of an organization and helps in analyzing abilities to meet financial obligations. Credit analytics tool is mainly used among banks, financial institutions, and credit unions that are known to give money on credit. This tool helps them to decide eligibility of organizations and people to whom loan should be given, so that there can be less debts for financial institutions. 

The banking credit analytics market is segmented on the basis of component, deployment mode, organization size, end user and region. On the basis of component, it is categorized into solution and service. On the basis of deployment mode, it is divided into on-premise and cloud. On the basis of organization size, it is classified into large enterprises and small & medium-sized enterprises. On the basis of end user banks, credit unions, and others. On the basis of region, it is studied across North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East & Africa.

The key player covered in the banking credit analytics market share are S&P global analytics, Moody’s analytics, CARE solutions Inc., FITCH solutions, ICRA limited, IBM Corporation, CRISIL Ltd and other credit rating agencies.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Rise in digital transformation among banks, increased focus on reducing defaults, and growth in need to enhance customer satisfaction are the major factors that drive the banking credit analytics market growth.

In addition, rise in trend of adopting advanced credit analytics solutions for gaining a 360-degree customer view is the major factor that drives the market growth. However, high costs associated with these credit analytics services is expected to hinder the growth of global credit analytics market. Furthermore, rise in demand of banking credit analytics in developing economies, and emergence of several new technologies in banking credit analytics tools are expected to create lucrative opportunities for the market growth.

The global banking credit analytics market trends are as follows:

Surge in credit analytics usage among banking and credit unions 

In recent years, developers have focused on developing new and updated tools of credit analytics, owing to varying demands. Leading banks and credit unions have analyzed how improved accuracy can be influential in several applications for banks and credit unions. Various capabilities of advanced technologies, such as AI and machine leering based solutions are expected to enable its users to leverage huge volumes of data to drive business efficiency. Furthermore, cloud-based solutions are considered vital, owing to numerous benefits such as less operational, maintenance, and installation costs.

COVID-19 scenario analysis:

• Financial institutions are more likely to focus on re-assessment of expected losses. Similarly, portfolio managers are likely to adjust exposures, owing to this pandemic, thus creating increased demand for credit analytics.
• Significant increase of expected losses for both public and private companies are expected to lead to increase in demand for banking credit analytics
• In the coming years, the credit analytics market is anticipated to see surge in demand post pandemic as banks would be more focused on finding credit of organizations.

MARKET SCOPE AND STRUCTURE ANALYSIS:

Key benefits of the report:

• This study presents analytical depiction of the global banking credit analytics market along with the current trends and future estimations to determine the imminent investment pockets.    
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global banking credit analytics market share.     
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.         
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
• The report provides a detailed market analysis based on the present and future competitive intensity of the market.

Key Segments Covered

Questions answered in the research report:    

• Who are the leading market players active in the global banking credit analytics market?
• What would be the detailed impact of COVID-19 on the global banking credit analytics market revenue?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the global banking credit analytics market?
• What are the projections for the future that would help in taking further strategic steps?