Market Overview:
The global core banking software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for core banking software from retail banks, private banks, and corporate banks across the globe. In addition, the growing adoption of cloud-based solutions and services is also contributing to the growth of this market. However, factors such as high implementation costs and lack of standardization are restraining the growth of this market. On the basis of type, the global core banking software market can be segmented into software and services. The software segment is further sub-segmented into on-premise solutions and cloud-based solutions. The services segment includes consulting services, system integration services, support & maintenance services, and training & education services.
Product Definition:
Core banking software is a type of computer software that enables banks to manage their customer accounts electronically. It allows customers to access their account information, make transactions, and receive statements online. Core banking software also enables banks to manage their finances more efficiently by tracking account activity and providing reporting tools.
Software:
Software is a collection of procedures, algorithms, and tools which are used for carrying out various operations in Core Banking Software. The software helps in maintaining the records of financial transactions carried out between two parties such as customer information & data base management system and transaction processing system. It also helps to carry out automated transactions at regular intervals through the network by synchronizing with other banking systems across different locations.
Services:
The services in core banking software market include payment processing, account management, transaction management and reporting. The service helps the banks to reduce their operational cost by outsourcing them to a third party. It also helps the banks in meeting regulatory requirement such as Know Your Customer (KYC) and Anti-money Laundering (AML).
Application Insights:
The retail banks segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The core banking software solutions are widely used by retail banks as they offer various functionalities such as transaction processing, account management, reporting and analytics to manage a bank's operations efficiently. Furthermore, increasing penetration of smartphones has enabled consumers to access their accounts directly from their mobile phones which has further driven demand for online banking services among consumers.
The private banks segment is anticipated to register significant growth over the forecast period owing to an increase in demand from high-net-worth individuals (HNWI¢â‚¬â„¢s) across the globe who prefer using personal computers or laptops at home rather than commercial systems at investment houses or trust companies where they have accounts.
Regional Analysis:
The North American regional market dominated the global core banking software industry in 2016. The growth of this region can be attributed to the presence of a large number of prominent players such as BNY Mellon, Citigroup, JPMorgan Chase & Co., and Wells Fargo. These companies are continuously investing in research and development activities to develop advanced products for their customers. Moreover, these banks are also focusing on providing mobile-based services to their customers thereby increasing the demand for smartphones and tablets within the retail sector.
Asia Pacific is expected to emerge as a lucrative regional market over the forecast period owing to several initiatives taken by governments across various countries in order to transform traditional banking systems into modern digital platforms that enable easy access by consumers for all financial services including Core Banking Software (CBS) applications required within an organization's business operations.
Growth Factors:
- Increasing demand for Core Banking Software from small and medium-sized businesses (SMBs) due to the need for enhanced security, scalability, and efficiency.
- Proliferation of digital banking channels such as mobile banking and online banking that are fuelling the demand for Core Banking Software.
- The increasing trend of mergers & acquisitions (M&As) in the financial sector is leading to an increased demand for Core Banking Software solutions that can manage multiple banks seamlessly.
- Rapid technological advancements in cloud computing, big data analytics, and artificial intelligence are providing new opportunities for growth in the Core Banking Software market.
Scope Of The Report
Report Attributes
Report Details
Report Title
Core Banking Software Market Research Report
By Type
Software, Services
By Application
Retail Banks, Private Banks, Corporate Banks, Others
By Companies
SAP SE, Oracle, Infosys, FIS, Capgemini, Tata Consultancy Services, Temenos Group, Finastra, Unisys, HCL Technologies, Infrasoft Technologies, Fiserv, Jack Henry & Associates
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
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Core Banking Software Market Report Segments:
The global Core Banking Software market is segmented on the basis of:
Types
Software, Services
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
Retail Banks, Private Banks, Corporate Banks, Others
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:
- SAP SE
- Oracle
- Infosys
- FIS
- Capgemini
- Tata Consultancy Services
- Temenos Group
- Finastra
- Unisys
- HCL Technologies
- Infrasoft Technologies
- Fiserv
- Jack Henry & Associates
Highlights of The Core 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:
- Software
- Services
- By Application:
- Retail Banks
- Private Banks
- Corporate Banks
- Others
- 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 Core 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?
Core banking software is a suite of software that helps banks manage their operations. It includes tools for tracking customer accounts, issuing and managing loans, and more.
Some of the major players in the core banking software market are SAP SE, Oracle, Infosys, FIS, Capgemini, Tata Consultancy Services, Temenos Group, Finastra, Unisys, HCL Technologies, Infrasoft Technologies, Fiserv, Jack Henry & Associates.
The core banking software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Core 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 Core Banking Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Core 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 Core 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 Core Banking Software Market Size & Forecast, 2020-2028
4.5.1 Core Banking Software Market Size and Y-o-Y Growth
4.5.2 Core Banking Software Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Software
5.2.2 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Retail Banks
6.2.2 Private Banks
6.2.3 Corporate Banks
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Core 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 Core 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Software
9.6.2 Services
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 Market Size Forecast by Applications
9.10.1 Retail Banks
9.10.2 Private Banks
9.10.3 Corporate Banks
9.10.4 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Software
10.6.2 Services
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 Market Size Forecast by Applications
10.10.1 Retail Banks
10.10.2 Private Banks
10.10.3 Corporate Banks
10.10.4 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Software
11.6.2 Services
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 Market Size Forecast by Applications
11.10.1 Retail Banks
11.10.2 Private Banks
11.10.3 Corporate Banks
11.10.4 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Software
12.6.2 Services
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 Market Size Forecast by Applications
12.10.1 Retail Banks
12.10.2 Private Banks
12.10.3 Corporate Banks
12.10.4 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Software
13.6.2 Services
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) Market Size Forecast by Applications
13.10.1 Retail Banks
13.10.2 Private Banks
13.10.3 Corporate Banks
13.10.4 Others
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 Core Banking Software Market: Competitive Dashboard
14.2 Global Core Banking Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SAP SE
14.3.2 Oracle
14.3.3 Infosys
14.3.4 FIS
14.3.5 Capgemini
14.3.6 Tata Consultancy Services
14.3.7 Temenos Group
14.3.8 Finastra
14.3.9 Unisys
14.3.10 HCL Technologies
14.3.11 Infrasoft Technologies
14.3.12 Fiserv
14.3.13 Jack Henry & Associates
