North America SaaS-based Core Banking Software Market Size, Share & Industry Analysis Report by Deployment, End-User, Banking Type, Country and Growth Forecast, 2025-2032

The North America SaaS-based Core Banking Software Market is expected to witness market growth of 18.2% CAGR during the forecast period (2025-2032).

The US market dominated the North America SaaS-based Core Banking Software Market by country in 2024, and is expected to continue to be a dominant market till 2032; thereby, achieving a market value of USD 9.32 billion by 2032. The Canada market is experiencing a CAGR of 20.8% during 2025-2032. Additionally, the Mexico market is expected to exhibit a CAGR of 19.5% during 2025-2032. The US and Canada led the North America SaaS-based Core Banking Software Market by Country with a market share of 59.2% and 11% in 2024.



Cloud computing, changing rules, and a growing need for flexible, customer-focused banking solutions have all changed the North American SaaS-based core banking software market in big ways. At first, banks used expensive, inflexible on-premise systems, but they switched to SaaS platforms because they were more scalable and cost-effective, especially smaller banks and fintech startups. Over time, bigger banks and other financial institutions also moved to cloud-based systems to save money on operations, make sure they followed rules like the Dodd-Frank Act, and give employees access to data in real time. Market leaders like Temenos, Finastra, and FIS improved their products by adding AI, machine learning, and blockchain technologies. This made their SaaS solutions more powerful and competitive for a wider range of financial institutions, such as retail banks, credit unions, and wealth management firms.

AI and ML integration to automate tasks, improve fraud detection, and provide personalized customer service are some of the most important trends in the market. Open banking and API ecosystems are making it easier for fintech apps and new digital services to work together, which makes things more compatible and improves the customer experience. Cybersecurity is still a top priority, and providers are spending money on things like encryption, multi-factor authentication, and monitoring threats in real time. As shown by Fiserv's purchase of Finxact and partnerships between Temenos, Finastra, and fintech companies, market players seek growth through strategic acquisitions, partnerships, and alliances. Established leaders and agile fintech newcomers compete fiercely with each other, which drives continuous innovation. This focuses on scalable, secure, and compliant SaaS platforms that can adapt to the changing needs of North American financial institutions.

End-User Outlook

Based on End-User, the market is segmented into Retail Banking, Corporate Banking, Treasury, and Wealth Management. The Retail Banking market segment dominated the US SaaS-based Core Banking Software Market by End-User is expected to grow at a CAGR of 16.6 % during the forecast period thereby continuing its dominance until 2032. Also, The Treasury market is anticipated to grow as a CAGR of 18 % during the forecast period during 2025-2032.

Banking Type Outlook

Based on Banking Type, the market is segmented into Large Banks, Midsize Banks, Small Banks, Community Banks, and Credit Unions. Among various Canada SaaS-based Core Banking Software Market by Banking Type; The Large Banks market achieved a market size of USD 631.9 Million in 2024 and is expected to grow at a CAGR of 19.8 % during the forecast period. The Community Banks market is predicted to experience a CAGR of 21.6% throughout the forecast period from (2025 - 2032).

Country Outlook

The US is the world leader in using SaaS-based core banking software. This is because the financial sector is strong, technology is always changing, and the rules are helpful. Banks are moving away from traditional on-premise systems and toward cloud-based solutions to meet compliance requirements like the Dodd-Frank Act and Basel III, while also improving customer experiences, scalability, and cost-effectiveness. AI and ML integration for personalized services and fraud detection, open banking with API-driven architectures, and advanced cybersecurity measures are some of the most important trends. FIS, Fiserv, and Jack Henry & Associates are the biggest players in the market. However, agile fintechs like Mambu and Thought Machine are gaining ground, which encourages new ideas and keeps core banking systems changing all the time.

List of Key Companies Profiled

• nCino, Inc
• Temenos AG
• Mambu B.V
• Oracle Corporation
• Fiserv, Inc.
• Jack Henry & Associates, Inc.
• Finastra Group Holdings Limited (Vista Equity Partners)
• Tata Consultancy Services Ltd.
• SAP SE
• Fidelity National Information Services, Inc.

Market Report Segmentation

By Deployment

• Public Cloud
• Hybrid Cloud
• Private Cloud

By End-User

• Retail Banking
• Corporate Banking
• Treasury
• Wealth Management

By Banking Type

• Large Banks
• Midsize Banks
• Small Banks
• Community Banks
• Credit Unions

By Country

• US
• Canada
• Mexico
• Rest of North America