Information Technology (IT) Solutions for the Banking Market Report 2026

The information technology (it) solutions for the banking market size has grown rapidly in recent years. It will grow from $56.97 billion in 2025 to $63.44 billion in 2026 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to expansion of online banking services, rising adoption of mobile banking applications, growth of electronic payment systems, increasing regulatory compliance requirements, early investments in core banking modernization.

The information technology (it) solutions for the banking market size is expected to see rapid growth in the next few years. It will grow to $96.52 billion in 2030 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to increasing adoption of ai-driven customer analytics, rising investments in cloud-native banking platforms, expansion of blockchain-based financial solutions, growing demand for real-time risk management, increasing focus on personalized digital banking experiences. Major trends in the forecast period include increasing adoption of cloud-based core banking systems, rising deployment of ai-powered fraud detection tools, growing integration of open banking apis, expansion of digital-first banking platforms, enhanced focus on cybersecurity solutions.

The increasing smartphone penetration is expected to drive the growth of the information technology (IT) solutions for the banking market in the coming years. A smartphone is a mobile device that integrates cellular communication with advanced computing capabilities, including internet access, applications, and multimedia features. Smartphone penetration is rising largely due to the availability of affordable devices, making smartphones accessible to a wider population across both urban and rural areas. IT solutions for banking are widely used on smartphones through mobile banking applications, which offer secure access to accounts, transactions, payments, and financial services anytime and from anywhere. For example, in January 2024, the Office of Communications, a UK-based regulatory authority for broadcasting, telecommunications, and postal services, reported that the number of active mobile subscriptions (excluding M2M) reached 88.7 million by the end of Q3 2023, an increase of 1.5 million or 1.7% compared to the previous year. Additionally, mobile telephony services generated $4.67 billion (£3.51 billion) in retail revenues in Q3 2023, reflecting a $191.7 million (£144.2 million) or 4.3% rise year over year. Therefore, the growing smartphone penetration is contributing to the expansion of the IT solutions for the banking market.

Leading companies in the information technology (IT) solutions market for banking are focusing on forming strategic partnerships to enhance technological capabilities, broaden service offerings, and speed up digital transformation within banking operations. Strategic partnerships involve collaborative agreements between organizations to achieve shared goals by leveraging each other’s strengths and resources. For instance, in January 2025, DXC Technology, a US-based IT firm, partnered with Thought Machine, a UK-based cloud banking company, to launch a joint solution aimed at accelerating digital transformation for small and midsize banks. This partnership combines DXC’s industry expertise and managed services with Thought Machine’s cloud-native core banking platform, Vault Core, and payments platform, Vault Payments. The integrated managed service helps banks modernize legacy systems, significantly reduce the time-to-market for new digital financial products, and enhance compliance and operational performance. By providing scalable, configurable technology along with expert support, the collaboration empowers smaller banks to compete with larger institutions and offer innovative, customer-focused services worldwide.

In January 2025, Accenture, an Ireland-based IT company, acquired Percipient’s digital twin technology platform for an undisclosed amount. This acquisition enhances Accenture’s capacity to modernize banking systems by leveraging digital twin technology to simplify data integration, accelerate innovation, and support banks in transitioning to cloud and AI solutions without disrupting operations. This move is expected to drive growth and profitability in the Asia Pacific region. Percipient is a Singapore-based fintech firm specializing in digital twin technology for banking modernization.

Major companies operating in the information technology (it) solutions for the banking market are Accenture plc, International Business Machines Corporation (IBM), Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Fiserv Inc., DXC Technology Company, HCL Technologies Limited, Wipro Limited, Fidelity National Information Services Inc. (FIS), Tata Consultancy Services Limited (TCS), Finastra Group Holdings Limited, Avaloq Group AG, Temenos AG, Backbase B.V., nCino Inc., SAP Fioneer GmbH, Mambu GmbH, Thought Machine Group Limited, Oracle Financial Services Software Limited.

North America was the largest region in the information technology (IT) solutions for the banking market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (it) solutions for the banking market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the information technology (it) solutions for the banking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The information technology (IT) solutions for the banking market include revenues earned by entities that provide services such as digital and mobile banking, cybersecurity and fraud prevention, customer relationship management, and information technology (IT) consulting services. The market value includes the value of related goods sold by the service provider or included within the service offering. The information technology (IT) solutions for the banking market also include sales of core banking systems (CBS), data analytics and business intelligence tools, and loan origination and management systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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