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2023 U.S. Industry Statistics & Market Forecast - Financial Transactions Processing, Reserve & Clearinghouse Activities
Market Size & Industry Statistics
The total U.S. industry market size for Financial Transactions Processing, Reserve & Clearinghouse Activities:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Financial Transactions Processing, Reserve & Clearinghouse Activities industry is experiencing significant changes due to increasing competition, technological advancements, and changing customer behavior. Some of the key trends affecting this industry include:1. Digitalization: With the growth of digital technologies, many financial transactions are now conducted electronically, which is leading to the development of online payment systems, mobile wallets and digital currencies.
2. Cyber Security: Security continues to be a top priority for financial institutions, especially as more customer data is stored online. Companies are investing heavily in cybersecurity measures to protect data from breaches, which have become more frequent over the past few years.
3. Fintech Disruption: The rise of fintech companies has disrupted traditional banking methods. These new entrants offer innovative solutions for customers and are accelerating the push for open banking, creating a more competitive market and incentivizing traditional financial institutions to keep up or risk losing business.
4. Real-Time Payments: With the increasing demand for immediacy of transactions, the industry is working towards implementing real-time payments systems for faster and more efficient transfers.
5. Regulation: Increase in regulatory requirements, especially around data privacy and anti-money laundering have led to compliance-related challenges. Financial institutions continue to invest in necessary compliance measures to manage regulatory requirements.
6. Blockchain: Blockchain technology is sought after due to its secure and distributed ledger capabilities. Financial institutions are exploring possible ways of incorporating it into their systems to enhance back-office operations and improve the efficiency and security of transactions.
7. Cost optimization: Industry players are trying to optimize costs to remain profitable while balancing investments in technology advancements and compliance measures. This has led to increased consolidation within the industry, with firms merging to reduce operating expenses.
Product & Services Breakdown
Research products and services in the Financial Transactions Processing, Reserve & Clearinghouse Activities industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Loan Services - Income |
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Residential Mortgage Loans |
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Credit Card Services - Income |
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Credit Card Services For Cardholders, Business And Government |
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Credit Card Services For Cardholders, Consumer |
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Credit Card Services For Merchants |
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Credit Card Association Products |
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Deposit Account Service Packages, Except Business |
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Cash Handling And Management Services For Business |
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Document Payment Services |
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Automated Clearinghouse (Ach) Services - Fees |
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Other Products Supporting Financial Services - Fees |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Financial Transactions Processing, Reserve & Clearinghouse Activities company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Financial Transactions Processing, Reserve & Clearinghouse Activities industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Financial Transactions Processing, Reserve & Clearinghouse Activities measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 11% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 3% | |||
| Operations Specialties Managers | 6% | |||
| Business and Financial Operations Occupations | 26% | |||
| Business Operations Specialists | 6% | |||
| Financial Specialists | 20% | |||
| Credit Counselors and Loan Officers | 11% | |||
| Loan Officers | 11% | |||
| Computer and Mathematical Occupations | 7% | |||
| Computer Occupations | 6% | |||
| Sales and Related Occupations | 13% | |||
| Sales Representatives, Services | 10% | |||
| Securities, Commodities, and Financial Services Sales Agents | 10% | |||
| Securities, Commodities, and Financial Services Sales Agents | 10% | |||
| Office and Administrative Support Occupations | 42% | |||
| Financial Clerks | 18% | |||
| Tellers | 13% | |||
| Tellers | 13% | |||
| Information and Record Clerks | 17% | |||
| Customer Service Representatives | 7% | |||
| Customer Service Representatives | 7% | |||
| Loan Interviewers and Clerks | 7% | |||
| Loan Interviewers and Clerks | 7% | |||
Financial Transactions Processing, Reserve & Clearinghouse Activities Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Financial Transactions Processing, Reserve & Clearinghouse Activities industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Financial Transactions Processing, Reserve & Clearinghouse Activities industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Financial Transactions Processing, Reserve & Clearinghouse Activities industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $284,970,772 on Financial Transactions Processing, Reserve & Clearinghouse Activities. It has awarded 103 contracts to 46 companies, with an average value of $6,195,017 per company.| Most Recent Contracts | Date | Total Award Amount |
|---|---|---|
| EPIQ CLASS ACTION & CLAIMS SOLUTIONS, INC. 10300 Sw Allen Blvd Beaverton, OR | Jun 28, 2023 | $560,940 |
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