UCaaS in Banking Market Share

Market Share of UCaaS in Banking Industry

The unified communication as-a-service in banking market is a consolidated market with a few players dominating the marketwith their technological expertise in unified communications.While innovation remains the prime factor for market domination in this industry, the major players are focusing on expanding their customer base by leveraging on strategic collaborative initiatives andby acquiring smaller players to strengthen their hold in the market further. The major players includeRingCentral, Inc., 8X8 Inc., West Unified Communications Services, Inc., Cisco Systems Inc., Fuze Inc., Avaya Inc., Voss Solutions, NetFortris, Inc., TetraVX, and Kurmi Software, among others.

• March 2019 - Avaya Holdings Corp. introduced a programthat providesfinancial organizations access to high-level communications across a variety of client touchpoints, thereby delivering banking reliability & security.
• March 2019 - Optus Business announced the launch of Optus Cloud Calling, a cloud-based calling and collaboration solution, that includes mobility, audio and video conferencing, collaboration, and enterprise telephony. This solution is based onCisco's BroadCloud and Webex portfolios.
• April 2019 -Momentum Telecom acquired Metro Optical Solutions, a leading provider of managed network, data, and internet solutions to enterprise and carrier customers globally. This acquisition is expected to further positionMomentum Telecomas a leader in the UCaaS market.

Unified Communication-as-a-Service in Banking Market Leaders

1. RingCentral, Inc.

2. 8X8 Inc.

3. West Unified Communications Services, Inc.

4. Cisco Systems Inc.

5. Fuze Inc.

*Disclaimer: Major Players sorted in no particular order