Market Overview:
The global core banking solution 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 solutions from banks and financial institutions across the globe. In addition, the growing trend of digitalization is also contributing to the growth of this market. The global core banking solution market can be segmented on the basis of type into software and services. The software segment is expected to account for a larger share of this market than services during the forecast period. This can be attributed to factors such as rising demand for automation in banks and financial institutions and growing need for improved customer experience. On the basis of application,the global core banking solutionmarket can be divided intobanks,financial institution,and others (including healthcare organizations, educational institutes etc.).
Product Definition:
A core banking solution (CBS) is a comprehensive system that enables a financial institution to offer its customers a full range of products and services through one central location. Core banking systems allow institutions to manage their customer data, account operations, and product offerings in a single system. This not only improves the customer experience, but also allows institutions to more efficiently manage their operations.
Core banking solutions are important for financial institutions because they provide the backbone for managing all aspects of customer accounts. By consolidating all account information into one system, CBSs improve operational efficiency and make it easier for customers to conduct transactions across different products lines. Additionally, CBSs enable financial institutions to quickly rollout new products and services in response to changing market conditions or consumer needs.
Software:
Software is a collection of procedures, algorithms, and tools which are used for carrying out specific tasks or to solve a particular problem. Software solutions help in streamlining various processes involved in banking operations such as loan processing, account management among others. The software helps banks to improve their efficiency & operational effectiveness by reducing manual efforts and providing automated solutions for various core banking functions such as opening new accounts, managing current accounts among others.
Services:
The services in core banking solution are used for various functions such as payment processing, account information management, and transaction execution. In addition to these basic functionalities offered by the services, they also help in enhancing security and facilitating compliance requirements.
Services can be broadly classified into two categories - on-premise and cloud based. The former is a traditional model where the software is installed at an organization’s headquarters along with hardware appliances such as servers, storage devices etc.
Application Insights:
The banks segment dominated the global core banking solution market in 2017 and is expected to retain its dominance over the forecast period. The increasing number of digital initiatives by banks to improve their customer experience and reduce operating costs are likely to drive the adoption of DCBS solutions. In addition, growing penetration of smartphones is enabling customers to access accounts remotely which in turn will boost demand for mobile-banking solutions across all economies globally.
The financial institutions including credit unions are expected to register a significant growth rate over the forecast period owing to increased usage of advanced technology such as big data analytics, cloud computing, social networks and e-mail marketing services among others by these organizations. This trend is anticipated to positively influence DCBS adoption at these organizations since they can offer enhanced services while reducing operational costs thereby generating profit for member institutions. Moreover, rising awareness about cyber security threats among financial institutions will further propel their interest in adopting an integrated core banking solution from vendors such as IBM Corporation.
Regional Analysis:
The Asia Pacific dominated the global market in 2017. The region is expected to continue its dominance over the forecast period. This can be attributed to increasing digitalization, technological advancements, and growing internet penetration across emerging economies such as India and China. Moreover, rising demand for core banking solutions by financial institutions due to regulatory requirements are also driving growth in this region. For instance, according to a recent survey conducted by KPMG on behalf of Australia & New Zealand Banking Group Limited (ANZ), 40% of banks in the country plan on implementing or already have implemented a core banking solution with mobile access platform that enables real-time transactions and customer engagement initiatives such as chatbots and voice assistants like Amazon Alexa or Google Home etc.
However, North America is expected to emerge as a strong contender during the forecast period owing high adoption rates of advanced technologies among banks operating in U.S., Canada, Mexico; along with other developed countries including Germany; UK; France etc.
Growth Factors:
- Increased demand for Core Banking Solution from small and medium-sized businesses (SMBs) due to the need for enhanced efficiency and scalability.
- The increasing trend of cloud-based deployments of Core Banking Solution that offer lower Total Cost of Ownership (TCO) and faster time to market.
- Proliferation of digital channels such as mobile banking, online banking, etc., which are fuelling the demand for Core Banking Solution solutions that can provide a unified view of customer interactions across all channels.
- The growing popularity of open source Core Banking Solution platforms that allow banks to customize their solutions as per their specific needs at a fractional cost as compared to proprietary software solutions offered by traditional vendors.
Scope Of The Report
Report Attributes
Report Details
Report Title
Core Banking Solution Market Research Report
By Type
Software, Services
By Application
Banks, Financial Institution, Others
By Companies
SAP, Oracle, Infosys, FIS, Tata, Misys, HCL, Temenos, Capgemini, Infrasoft, Nelito
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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Core Banking Solution Market Report Segments:
The global Core Banking Solution 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
Banks, Financial Institution, 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
- Oracle
- Infosys
- FIS
- Tata
- Misys
- HCL
- Temenos
- Capgemini
- Infrasoft
- Nelito
Highlights of The Core Banking Solution 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:
- Banks
- Financial Institution
- 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 Solution 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
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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 solution is a software that helps banks to manage their customer relationships and financial transactions. It includes features such as account management, loan processing, and payments.
Some of the major players in the core banking solution market are SAP, Oracle, Infosys, FIS, Tata, Misys, HCL, Temenos, Capgemini, Infrasoft, Nelito.
The core banking solution 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 Solution 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 Solution Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Core Banking Solution 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 Solution 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 Solution Market Size & Forecast, 2020-2028
4.5.1 Core Banking Solution Market Size and Y-o-Y Growth
4.5.2 Core Banking Solution 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 Banks
6.2.2 Financial Institution
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Core Banking Solution 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 Solution 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 Banks
9.10.2 Financial Institution
9.10.3 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 Banks
10.10.2 Financial Institution
10.10.3 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 Banks
11.10.2 Financial Institution
11.10.3 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 Banks
12.10.2 Financial Institution
12.10.3 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 Banks
13.10.2 Financial Institution
13.10.3 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 Solution Market: Competitive Dashboard
14.2 Global Core Banking Solution Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SAP
14.3.2 Oracle
14.3.3 Infosys
14.3.4 FIS
14.3.5 Tata
14.3.6 Misys
14.3.7 HCL
14.3.8 Temenos
14.3.9 Capgemini
14.3.10 Infrasoft
14.3.11 Nelito
