Market Overview:
The global retail 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 cloud-based and on-premises software solutions by banks and financial institutions across the globe. In addition, the growing need for automation and digitization of banking processes is also contributing to the growth of this market. On the basis of type, the global retail banking software market can be segmented into cloud-based and on-premises software solutions. The cloud-based segment is expected to grow at a higher CAGR than that of on-premises during the forecast period from 2018 to 2030.
Product Definition:
Retail banking software is used to manage the day-to-day operations of a retail bank. It includes modules for account management, loans, deposits, and other banking activities. The software helps banks to keep track of their customers' accounts and transactions, as well as manage their loans and deposits. It also allows banks to automate many of their processes, which improves efficiency and reduces costs.
Cloud-based:
Cloud-based software is a type of software system that provides shared services for multiple users over the internet. It shares data across different systems and facilitates centralized access to banking applications, which are used by retail customers as well as commercial banks. The technology helps in improving cost structures and increases operational efficiency by automating back-office processes such as accounting, finance, HRM & payrolls and customer relationship management.
On-premises:
On-premises is a term used for software that is installed and operated from the original source media or hardware. In other words, it's an installation of software on the end users' computers so that he can run the programs without any problems related to network connectivity and system downtime. It's a traditional way of installing applications in which all data is stored on individual user’s computer systems.
Application Insights:
The large enterprises segment accounted for the largest revenue share of over 60% in 2017. The segment is expected to witness significant growth over the forecast period owing to rising adoption of retail banking software among large enterprises. Large enterprise customers prefer a packaged solution as it offers various functionalities in one platform, which helps them manage their business efficiently. Furthermore, increasing number of transactions and need for efficient data management are driving the demand for retail banking software among large enterprises.
The SMEs segment is projected to register highest CAGR from 2018 to 2030 due to increased adoption of internet banking by small businesses across the globe. SMEs have been traditionally been considered as high-risk customers by banks because they lack loyalty and experience points with regard to financial institutions or brands; however, this has changed with advent of e-commerce and digital transformation in both developed and developing economies worldwide.
Regional Analysis:
The Asia Pacific region is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to increasing adoption of cloud-based solutions in countries, such as China and India. Furthermore, growing digitalization in retail banking operations is also one of the key factors driving growth across this region. Digitalization has enabled customers access their accounts and perform transactions from anywhere through smartphones or tablets rather than having to go to a branch physically.
North America held a significant share within the global industry in 2016 owing to presence of prominent players such as Citigroup Inc.; Bank Of America Corporation; Wells Fargo & Company; JPMorgan Chase & Co.; and Royal Bank Of Canada among others who are investing heavily in R&D activities related to retail banking software development thus ensuring continued dominance over next eight years.
Growth Factors:
- Increasing demand for retail banking software from small and medium-sized businesses (SMBs)
- Rising need for automation and streamlining of processes in the banking sector
- Proliferation of digital channels and technologies that are fuelling the demand for retail banking software
- Emergence of new payment methods such as mobile payments, contactless payments, etc., which is boosting the adoption of retail banking software
- Growing inclination towards cloud-based solutions among banks
Scope Of The Report
Report Attributes
Report Details
Report Title
Retail Banking Software Market Research Report
By Type
Cloud-based, On-premises
By Application
Small and Medium Enterprises (SMEs), Large Enterprises
By Companies
Finastra, Temenos, Nucleus Software, Strategic Information Technology (SIT), SAB, Pyramid Solutions, Nous Infosystems, GCP Software, Pegasystems, Kony DBX
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
160
Number of Tables & Figures
112
Customization Available
Yes, the report can be customized as per your need.
Global Retail Banking Software Market Report Segments:
The global Retail Banking Software market is segmented on the basis of:
Types
Cloud-based, On-premises
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
Small and Medium Enterprises (SMEs), Large Enterprises
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:
- Finastra
- Temenos
- Nucleus Software
- Strategic Information Technology (SIT)
- SAB
- Pyramid Solutions
- Nous Infosystems
- GCP Software
- Pegasystems
- Kony DBX
Highlights of The Retail 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:
- Cloud-based
- On-premises
- By Application:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
- 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 Retail 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?
Retail banking software is a computer program that helps banks and other financial institutions manage their retail banking operations. Retail banking software can include features such as account management, customer service, and fraud prevention.
Some of the key players operating in the retail banking software market are Finastra, Temenos, Nucleus Software, Strategic Information Technology (SIT), SAB, Pyramid Solutions, Nous Infosystems, GCP Software, Pegasystems, Kony DBX.
The retail 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 Retail 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 Retail Banking Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Retail 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 Retail 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 Retail Banking Software Market Size & Forecast, 2018-2028
4.5.1 Retail Banking Software Market Size and Y-o-Y Growth
4.5.2 Retail Banking Software Market Absolute $ Opportunity
Chapter 5 Global Retail 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 Retail Banking Software Market Size Forecast by Type
5.2.1 Cloud-based
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Retail 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 Retail Banking Software Market Size Forecast by Applications
6.2.1 Small and Medium Enterprises (SMEs)
6.2.2 Large Enterprises
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Retail 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 Retail 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 Retail Banking Software Analysis and Forecast
9.1 Introduction
9.2 North America Retail 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 Retail Banking Software Market Size Forecast by Type
9.6.1 Cloud-based
9.6.2 On-premises
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 Retail Banking Software Market Size Forecast by Applications
9.10.1 Small and Medium Enterprises (SMEs)
9.10.2 Large Enterprises
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 Retail Banking Software Analysis and Forecast
10.1 Introduction
10.2 Europe Retail 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 Retail Banking Software Market Size Forecast by Type
10.6.1 Cloud-based
10.6.2 On-premises
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 Retail Banking Software Market Size Forecast by Applications
10.10.1 Small and Medium Enterprises (SMEs)
10.10.2 Large Enterprises
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 Retail Banking Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Retail 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 Retail Banking Software Market Size Forecast by Type
11.6.1 Cloud-based
11.6.2 On-premises
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 Retail Banking Software Market Size Forecast by Applications
11.10.1 Small and Medium Enterprises (SMEs)
11.10.2 Large Enterprises
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 Retail Banking Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Retail 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 Retail Banking Software Market Size Forecast by Type
12.6.1 Cloud-based
12.6.2 On-premises
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 Retail Banking Software Market Size Forecast by Applications
12.10.1 Small and Medium Enterprises (SMEs)
12.10.2 Large Enterprises
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) Retail Banking Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Retail 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) Retail Banking Software Market Size Forecast by Type
13.6.1 Cloud-based
13.6.2 On-premises
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) Retail Banking Software Market Size Forecast by Applications
13.10.1 Small and Medium Enterprises (SMEs)
13.10.2 Large Enterprises
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 Retail Banking Software Market: Competitive Dashboard
14.2 Global Retail Banking Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Finastra
14.3.2 Temenos
14.3.3 Nucleus Software
14.3.4 Strategic Information Technology (SIT)
14.3.5 SAB
14.3.6 Pyramid Solutions
14.3.7 Nous Infosystems
14.3.8 GCP Software
14.3.9 Pegasystems
14.3.10 Kony DBX
