DUBLIN--(BUSINESS WIRE)--The "Currency Exchange Software Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The currency exchange software market is expected to register a CAGR of 12.50% during the forecast period from 2020 to 2025.
With foreign exchange volatility has fallen over the past few years since the record levels of liquidity provided by the central banks have calmed the markets, it has left investors with separate ways to wring a profit from the trading currencies. As per the Deutsche bank, the end of 2019 experienced slowdown across all currencies, including the commodity currencies, the Scandinavian and the EUR crosses, and even GBP, because of the most significant political upheavals saw lower volatility.
Companies Mentioned
- Calyx Solutions Inc.
- Clear View Systems Ltd
- Digital Currency Systems
- MoneyExchangeSoft
- Yodatech Inc.
- Broadway Technology, LLC
- 4xLabs Pte. Ltd
- CGI Design Inc.
- Cymonz
- Fincode Ltd
- Medoc Computers Ltd
- Cinque Technologies
- Vinit Solutions Ltd
- Wallsoft
- Merkeleon GmbH
- FinTech Crowd
- Oanda Corporation
- Minerva Technology Solutions Ltd
- GAIN Capital Holdings Inc.
- Thinkorswim (TD Ameritrade Holding Corp)
- FXCM (Jefferies Financial Group)
- Currency Exchange International Corp.
Key Market Trends
Cloud Segment is Expected to Hold the Major Share
Cloud-based systems are cost-effective, as they can use the software on a pay-per-use basis. Enterprises have various benefits as the cloud-based software offers advantages, including low maintenance costs, the limited requirement for hardware infrastructure, more accessible and faster implementation of IT solutions, and less dependency on in-house IT personnel with no licensing fees. The technology can be deployed for financial institutions on a cloud infrastructure where the services are accessible online or on mobile and are available through APIs that can be integrated into the existing system.
Moreover, enterprises can access data and services through web-based platforms, such as web browsing. The short implementation time also reduces the cost of implementation, thereby improving the return on investment (ROI). Various companies in the market, such as 4xLabs Pte. Ltd is focusing on software design, architecture and testing, automation of processes with continuous integration, and a deployment system by leveraging the cloud.
In January 2020, Euronet has changed the name of its API-accessible and cloud-based payments solution from the Digital Integrated Payments Cloud to the REV Payments Cloud. The product's technology remains the same as its purpose of providing developers API access to Euronet's software technology and platforms (payments, issuing, compliance, currency exchange, etc.) as services and the company's network of ATMs, POS terminals, and Ria Money Transfer locations.
North America is Expected to Hold Major Share
The region houses a vast number of enterprises among the small money transfer firms, travel agencies, and forex fixing companies. Also influenced by the adequate and upgraded IT infrastructure availability and dispersion for foreign exchange organizations and money transfer firms, are coupling to boost the market for the development of currency exchange software in the region. The Foreign Exchange products sellers globally are partnering with the leading United States brokers to enter a lucrative market.
For instance, in July 2019, AFEX got selected by The Money Cloud, a UK-based FX marketplace platform for consumers and businesses, as its FX partner to mark an entry into the United States. AFEX is a foreign exchange specialist that offers customizable global payments and API solutions. The Money Cloud's platform for businesses and private clients make the process of comparing international exchange rates secure and transparent. The platform additionally, allows clients to send money to multiple beneficiaries using different brokers.
A home-grown company, CXI, in December 2019, developed a strategic relationship with Duty-Free Americas Inc. as its exclusive foreign currency provider. Such expansion strategies in the country are aiding the retail stores with additional revenues by leveraging on technology amidst the competitive exchange rates. Recently, in April 2020, Derivative Path Inc, a cloud financial technology company across interest rate derivatives and FX, partnered with Currencycloud, an offeror of embedded FX and B2B cross-border payments platforms, this is in line with aiding the community and regional banks with a full-scale solution to manage and grow their FX programs.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.4 Assessment of COVID -19 Impact on the Industry
4.5 Market Drivers
4.5.1 Increasing Number of International Transactions
4.5.2 Growing Investments in the Fin-tech Industry
4.6 Market Restraints
4.6.1 High Transaction Charges
5 MARKET SEGMENTATION
5.1 Deployment
5.1.1 On-premise
5.1.2 Cloud-based
5.2 Type
5.2.1 PC Terminal
5.2.2 Mobile Terminal
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/5uqjrc
