Rapid change in consumer behavior & preferences toward availing banking products & services has led banks to enhance their existing product lines by implementing core banking solutions to provide cost-effective & efficient banking services in the market. Moreover, banks are adopting technologies such as application programming interfaces (APIs), data analytics, artificial intelligence, cloud computing, and robotic process automation (RPA) to modernize banking functionality and provide real-time banking services. These factors, as a result drive the core banking solutions market growth. However, lack of awareness toward core banking solutions and numerous benefits provided by core banking solutions are some of the factors that hamper the market growth.
On the contrary, surge in mergers & acquisitions among banks & financial institutions, which are adopting new approaches for on-going business operations rather than rebuilding from scratch, are expected to enhance automated banking services on a single platform. Banks & financial institutions require modernization of core banking systems and such mergers and acquisitions further propel adoption of these systems.
The core banking solutions market is segmented on the basis of component, deployment model, enterprise size, type, end user, and region. On the basis of component, the market is bifurcated into solution and service. In terms of deployment model, it is divided into on-premise and cloud. Based on enterprise size, the market is segmented into large enterprises and small & medium enterprises (SMEs). By type, it is segmented into enterprise customer solutions, loans, deposits, and others. On the basis of end user, the market is segmented into banks, credit unions & community banks, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyses the profiles of key players operating in the market include Capital Banking Solutions, EdgeVerve Systems Limited, Finastra, FIS, Fiserv, Inc., NCR Corporation, Oracle, SAP SE, Tata Consultancy Services Limited, and Temenos Headquarters SA. These players have adopted various strategies to increase their market penetration to strengthen their position in the industry.
Key benefits for Stakeholders
- The study provides in-depth analysis of the global core banking solutions market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global core banking solutions market from 2020 to 2027 is provided to determine the market potential.
Key Market Segments
By Component
- Solution
- Service
By Deployment Model
- On-premise
- Cloud
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Type
- Enterprise Customer Solutions
- Loans
- Deposits
- Others
By End User
- Banks
- Credit Unions & Community Banks
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Singapore
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key market Players
- Capital Banking Solutions
- EdgeVerve Systems Limited
- Finastra
- FIS
- Fiserv, Inc.
- NCR Corporation
- Oracle
- SAP SE
- Tata Consultancy Services Limited
- Temenos Headquarters SA
Table of Contents
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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