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Market Snapshot

CAGR:8.55

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	8.55

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Report Overview

The Core Banking Solutions Market is poised to experience significant growth, with an estimated Compound Annual Growth Rate (CAGR) of 5.82% between 2022 and 2032. The market size is projected to expand by USD 28,596.89 million during this period. The growth trajectory of the market is influenced by multiple factors, including the increasing adoption of digital banking, the need for operational efficiency, and the rise of innovative financial technologies. Core Banking Solutions (CBS) refer to integrated software platforms that centralize and automate various banking processes, such as customer accounts, transactions, payments, and more. These solutions offer comprehensive capabilities to enhance the overall banking experience and streamline operations.

Core Banking Solutions Market Overview:

Drivers:

The expansion of the Core Banking Solutions market is being propelled by the growing demand for digital banking services. As consumers increasingly prefer online and mobile banking for their financial needs, banks are compelled to invest in modernizing their core banking systems to provide seamless and secure digital experiences. CBS enables banks to offer services like online account management, mobile payments, and digital loan processing, meeting customer expectations and improving customer satisfaction.

Furthermore, the need for operational efficiency in the banking sector is driving the adoption of CBS. Traditional banking systems often involve multiple disconnected applications, leading to inefficiencies and errors. Core Banking Solutions integrate various banking functions into a unified platform, reducing duplication of efforts, enhancing data accuracy, and improving internal processes. This efficiency-driven approach is a key driver of market growth.

Trends:

An influential trend shaping the Core Banking Solutions market is the integration of Artificial Intelligence (AI) and data analytics. Banks are leveraging AI-powered analytics to gain insights from customer behavior, transaction patterns, and market trends. This enables personalized services, fraud detection, risk assessment, and targeted marketing strategies, all of which enhance customer engagement and loyalty.

Moreover, the rise of Open Banking initiatives is contributing to the adoption of CBS. Open Banking encourages collaboration between financial institutions and third-party developers by providing APIs (Application Programming Interfaces) that allow secure sharing of financial data. Core Banking Solutions that support Open Banking enable banks to offer customers a wider range of services through partnerships with fintech companies, resulting in improved customer experiences and expanded revenue streams.

Restraints:

Challenges in legacy system migration and cybersecurity concerns pose significant restraints to the growth of the Core Banking Solutions market. Migrating from traditional banking systems to modern CBS can be complex and costly due to the need to integrate with existing applications, ensure data accuracy, and minimize disruption to banking operations.

Additionally, the growing sophistication of cyber threats is a major concern. As CBS centralize critical banking operations, they become attractive targets for cyberattacks. Ensuring robust cybersecurity measures becomes imperative to protect sensitive customer data, maintain trust, and adhere to regulatory standards.

Core Banking Solutions Market Segmentation By Application: The retail banking segment is poised to exhibit substantial growth during the forecast period. Core Banking Solutions play a crucial role in retail banking operations, encompassing tasks such as account management, transaction processing, loan origination, and more. With the surge in demand for digital banking services among retail customers, CBS empowers banks to deliver user-friendly interfaces, seamless transactions, and personalized financial products.

Core Banking Solutions Market Segmentation By Type: The growth of the cloud-based Core Banking Solutions segment is noteworthy due to its advantages in scalability, cost-efficiency, and flexibility. Cloud-based CBS enable banks to adapt to changing customer demands and market trends quickly. These solutions also offer the benefit of reduced upfront infrastructure costs and improved accessibility, making them increasingly attractive to financial institutions seeking modernization.

Regional Overview:

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North America is projected to contribute significantly to the global Core Banking Solutions market's growth during the forecast period. The region boasts a mature banking sector and has been an early adopter of technological advancements in financial services. Leading banking institutions in North America are keen on enhancing customer experiences through digital channels, which drives the demand for modern Core Banking Solutions.

In Europe, regulatory initiatives such as the Revised Payment Services Directive (PSD2) have catalyzed the adoption of Open Banking and fostered the implementation of Core Banking Solutions that support these initiatives. This is driving innovation in banking services and contributing to market growth in the region.

Core Banking Solutions Market Customer Landscape: The Core Banking Solutions market report delves into the customer adoption lifecycle, ranging from early innovators to late adopters. It examines adoption rates across different regions based on market penetration. The report also analyzes key criteria for purchase decisions and factors influencing price sensitivity, assisting companies in developing effective growth strategies.

Major Core Banking Solutions Market Companies: Market players are deploying diverse strategies like mergers, partnerships, geographic expansion, and product launches to strengthen their presence in the industry.

Fiserv Inc.
Infosys Limited
Temenos AG
Oracle Corporation
SAP SE
IBM Corporation
NCR Corporation
FIS Global
TCS Financial Solutions
Jack Henry & Associates Inc.

Detailed analyses of the competitive landscape and information about key market companies are included in the report.

Segment Overview:

The Core Banking Solutions market report provides revenue forecasts at the global, regional, and country levels, offering insights into trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Retail Banking
Corporate Banking
Wealth Management
Others

Deployment Type Outlook (USD Million, 2019 - 2032):

On-premises
Cloud-based

Geography Outlook (USD Million, 2019 - 2032):

North America

U.S.
Canada

Europe

U.K.
Germany
France
Rest of Europe

APAC

China
India

South America

Brazil
Argentina
Rest of South America

Middle East & Africa

Saudi Arabia
UAE
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL CORE BANKING SOLUTIONS MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. CORE BANKING SOLUTIONS MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Core Banking Solutions Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. CORE BANKING SOLUTIONS MARKET BY Component INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Solutions

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Services

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. CORE BANKING SOLUTIONS MARKET BY Deployment Mode INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. On-premises

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Cloud-based

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. CORE BANKING SOLUTIONS MARKET REGIONAL OUTLOOK

7.1. Core Banking Solutions Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Core Banking Solutions Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Core Banking Solutions Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Core Banking Solutions Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Core Banking Solutions Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Core Banking Solutions Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Capital Banking Solutions

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2. EdgeVerve Systems Limited

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3. Finastra

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4. Fidelity National Information Services, Inc

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5. Fiserv, Inc

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6. NCR Corporation

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7. Oracle Financial Services Software Limited

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8. SAP SE

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9. Tata Consultancy Services Limited

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10. Temenos Headquarters SA

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Core Banking Solutions Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032