Market Overview:
The global banking software market is expected to grow at a CAGR of 9.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for core banking software, multi-channel banking software, BI software, and private wealth management software across the globe. Additionally, the growing need for risk management, information security, and business intelligence solutions in banks is also contributing to the growth of this market. However, factors such as lack of awareness about new technologies and reluctance among banks to adopt new technologies are restraining the growth of this market. On the basis of type, the global banking software market can be segmented into core banking software, multi-channel bankingsoftware,, BIsoftware,,and private wealth managementsoftware,.
Product Definition:
Banking software is a computer program used in banking institutions to manage various aspects of their operations. This may include customer accounts, loans, deposits, and other financial transactions. Banking software can help banks more efficiently and accurately track their finances as well as provide better customer service.
Core Banking Software:
Core banking software is a computer program which helps in managing the transaction of a financial institution. It provides all the necessary tools and features to carry out basic banking operations such as balance checks, deposits, withdrawals, transfers and credits. The primary function of core banking software is to help banks manage their money; it also helps them keep track of their customers’ transactions.
The global core banking software market size was valued at USD 1,867 million in 2016.
Multi-Channel Banking Software:
Multi-channel banking software is used to manage customer relationships with multiple banks. It helps in managing the transactions between the banks and customers. The software also helps in monitoring the transaction process, which includes recording of all customer transactions and analyzing their spending pattern.
The multi-channel banking software market is expected to witness significant growth over the forecast period owing to increasing demand for cross border payments coupled with growing adoption of mobile phones across all age groups globally.
Application Insights:
The risk management segment dominated the global banking software application market in 2017. The growth can be attributed to increasing demand for efficient and effective solutions that help banks manage their operations more efficiently. Furthermore, rising concerns regarding cyberattacks and data breaches are further driving the adoption of robust security systems across banks, thereby propelling the demand for banking software in this segment.
The business intelligence or analytics segment is expected to witness significant growth over the forecast period owing to its ability to offer insights into a bank¢â‚¬â„¢s operations from an operational as well as financial standpoint. Moreover, growing awareness among businesses regarding their transactions and accounts being able to communicate with each other through various applications is further fueling industry expansion at a rapid pace.
Banks are increasingly focusing on offering personalized services by analyzing customer requirements.
Regional Analysis:
The North American regional market dominated the global banking software industry in 2016 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing adoption of advanced core banking solutions by leading banks such as Citigroup Inc., JPMorgan Chase & Co., Wells Fargo & Company, and Bank Of America Corporation. Moreover, rising demand for mobile-based applications by customers is further propelling the regional market growth.
Asia Pacific region is anticipated to witness significant growth over the next eight years owing to increasing government initiatives encouraging financial institutions for adopting innovative technologies such as cloud computing, big data analytics, internet banking, mobile apps etc.
Growth Factors:
- Increasing demand for banking software from small and medium-sized businesses (SMBs)
- The increasing demand for mobile banking and online banking
- The increasing trend of using cloud-based solutions among banks
- Banks’ focus on automating their processes to improve efficiency
- The growing need to manage risk and comply with regulations
Scope Of The Report
Report Attributes
Report Details
Report Title
Banking Software Market Research Report
By Type
Core Banking Software, Multi-Channel Banking Software, BI software, Private Wealth Management Software
By Application
Risk Management, Information Security, Business Intelligence, Training and Consulting Solutions
By Companies
IBM Corporation, Oracle Corporation, SAP SE, Tata Consultancy Services Limited., Infosys Limited, Capgemini, Accenture., NetSuite Inc., Deltek, Inc., Misys, Microsoft Corporation, Comarch, Temenos Group, Sopra Banking, Turnkey Lender, Strategic Information Technology
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Banking Software Market Report Segments:
The global Banking Software market is segmented on the basis of:
Types
Core Banking Software, Multi-Channel Banking Software, BI software, Private Wealth Management Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Risk Management, Information Security, Business Intelligence, Training and Consulting Solutions
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IBM Corporation
- Oracle Corporation
- SAP SE
- Tata Consultancy Services Limited.
- Infosys Limited
- Capgemini
- Accenture.
- NetSuite Inc.
- Deltek, Inc.
- Misys
- Microsoft Corporation
- Comarch
- Temenos Group
- Sopra Banking
- Turnkey Lender
- Strategic Information Technology
Highlights of The Banking Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Core Banking Software
- Multi-Channel Banking Software
- BI software
- Private Wealth Management Software
- By Application:
- Risk Management
- Information Security
- Business Intelligence
- Training and Consulting Solutions
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Banking Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Banking software is a computer application that helps banks and other financial institutions manage their money. It includes features such as account management, transaction processing, and reporting.
Some of the major companies in the banking software market are IBM Corporation, Oracle Corporation, SAP SE, Tata Consultancy Services Limited., Infosys Limited, Capgemini, Accenture., NetSuite Inc., Deltek, Inc., Misys, Microsoft Corporation, Comarch, Temenos Group, Sopra Banking, Turnkey Lender, Strategic Information Technology.
The banking software market is expected to grow at a compound annual growth rate of 9.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Banking Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Banking Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Banking Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Banking Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Banking Software Market Size & Forecast, 2018-2028
4.5.1 Banking Software Market Size and Y-o-Y Growth
4.5.2 Banking Software Market Absolute $ Opportunity
Chapter 5 Global Banking Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Banking Software Market Size Forecast by Type
5.2.1 Core Banking Software
5.2.2 Multi-Channel Banking Software
5.2.3 BI software
5.2.4 Private Wealth Management Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Banking Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Banking Software Market Size Forecast by Applications
6.2.1 Risk Management
6.2.2 Information Security
6.2.3 Business Intelligence
6.2.4 Training and Consulting Solutions
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Banking Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Banking Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Banking Software Analysis and Forecast
9.1 Introduction
9.2 North America Banking Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Banking Software Market Size Forecast by Type
9.6.1 Core Banking Software
9.6.2 Multi-Channel Banking Software
9.6.3 BI software
9.6.4 Private Wealth Management Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Banking Software Market Size Forecast by Applications
9.10.1 Risk Management
9.10.2 Information Security
9.10.3 Business Intelligence
9.10.4 Training and Consulting Solutions
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Banking Software Analysis and Forecast
10.1 Introduction
10.2 Europe Banking Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Banking Software Market Size Forecast by Type
10.6.1 Core Banking Software
10.6.2 Multi-Channel Banking Software
10.6.3 BI software
10.6.4 Private Wealth Management Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Banking Software Market Size Forecast by Applications
10.10.1 Risk Management
10.10.2 Information Security
10.10.3 Business Intelligence
10.10.4 Training and Consulting Solutions
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Banking Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Banking Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Banking Software Market Size Forecast by Type
11.6.1 Core Banking Software
11.6.2 Multi-Channel Banking Software
11.6.3 BI software
11.6.4 Private Wealth Management Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Banking Software Market Size Forecast by Applications
11.10.1 Risk Management
11.10.2 Information Security
11.10.3 Business Intelligence
11.10.4 Training and Consulting Solutions
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Banking Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Banking Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Banking Software Market Size Forecast by Type
12.6.1 Core Banking Software
12.6.2 Multi-Channel Banking Software
12.6.3 BI software
12.6.4 Private Wealth Management Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Banking Software Market Size Forecast by Applications
12.10.1 Risk Management
12.10.2 Information Security
12.10.3 Business Intelligence
12.10.4 Training and Consulting Solutions
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Banking Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Banking Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Banking Software Market Size Forecast by Type
13.6.1 Core Banking Software
13.6.2 Multi-Channel Banking Software
13.6.3 BI software
13.6.4 Private Wealth Management Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Banking Software Market Size Forecast by Applications
13.10.1 Risk Management
13.10.2 Information Security
13.10.3 Business Intelligence
13.10.4 Training and Consulting Solutions
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Banking Software Market: Competitive Dashboard
14.2 Global Banking Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM Corporation
14.3.2 Oracle Corporation
14.3.3 SAP SE
14.3.4 Tata Consultancy Services Limited.
14.3.5 Infosys Limited
14.3.6 Capgemini
14.3.7 Accenture.
14.3.8 NetSuite Inc.
14.3.9 Deltek, Inc.
14.3.10 Misys
14.3.11 Microsoft Corporation
14.3.12 Comarch
14.3.13 Temenos Group
14.3.14 Sopra Banking
14.3.15 Turnkey Lender
14.3.16 Strategic Information Technology
