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Banking and financial institutions have a wide array of facilities management requirements and particular industry challenges

The banking sector in particular covers multifaceted services from bank branches, brokers, standalone ATMs, corporate trading and credit unions. Both global and local financial institutions must share the common need to cost-effectively deliver facilities management (FM), in order to drive customer experiences whilst ensuring transactions are conducted in a safe and secure environment.

The demands for the facilities management industry is high, with recognition of its function needed across several industries which enhance the future of the country’s business growth. According to the Global Facility Management Market Analysis (2017-2023) The Global Facility Management Market size is expected to reach $79bn by 2023, rising at a market growth of 15% CAGR during the forecast period. The International Facility Management Association (IFMA) defines facility management as the practice that coordinates physical workplace with the people and work of the organisation encompassing various forms of activities such as equipment maintenance, space planning, technological implementations and portfolio forecasting. The growth of the facility management market is driven due to rapid growth in the adoption of cloud-based solutions, change in organisation structure and work force management. In the field of banking in particular, these practices are certainly needed in order to undertake financial activities including, management of treasuries, managing vendor documents, goods received and payment related information as well as the management of customer facing transactions.