Product Code: 978-1-68038-496-3
Core Banking Software Market Growth & Trends:
The global core banking software market size is expected to reach USD 21.61 billion by 2030, expanding at a CAGR of 9.3% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The expansion of the market can be accredited to the upsurge in the embrace of core banking technology by banks and financial institutions on a global scale. This technological advancement is facilitating the synchronization of front, middle, and back-office operations for numerous banks worldwide.
Core banking software enables banks and financial institutions to scale operations and achieve economies of scale. Moreover, the rise of digital and online banks has changed customer preferences for convenient and easy-to-use channels. Core banking software solutions help traditional banks innovate, launch new products quickly, and reduce time to market.
In recent years, the amount of structured and unstructured data available to banks has increased significantly. Automation enables banks to leverage advanced analytics tools to study customer data and identify patterns and trends. With predictive analytics, banks can anticipate customer preferences, behavior, and potential needs, enabling them to offer targeted and timely offers and recommendations.
The pandemic adversely affected financial institutions that lacked the technology to adapt. While initially, firms, such as banks, were taken aback, they realized the need for technological enhancements for continued operations. The accelerated digital transformation initiatives are expected to bode well for market growth over the forecast period.
Core Banking Software Market Report Highlights:
- Within the solutions segment, the enterprise customer solutions segment is expected to grow significantly over the forecast period. Enterprise customer solutions help banks effectively track and process every transaction that a customer does at a bank. It also helps in improving the efficiency of operations
- The core banking managed services model provides banks and financial institutions with a competitive advantage by guaranteeing superior user-friendliness, comprehensive functionality, bug resolution, and timely enhancements. Contemporary financial institutions require several intricate systems to operate concurrently, ensuring seamless service provision and optimal availability. This aspect is anticipated to bolster the requirement for managed services throughout the projected timeframe
- Traditional infrastructure deployed on-site necessitates substantial initial expenditures and continuous upkeep expenses. Cloud computing eradicates the requirement for costly hardware and infrastructure, as financial institutions can procure resources based on a consumption-driven approach. This financially efficient paradigm assists banks in optimizing their information technology expenditures
- The growing necessity to enhance the productivity and operational effectiveness of banks is projected to propel the uptake of core banking software within the banking sector throughout the forecast period. Core banking software empowers customers to oversee their accounts globally, concurrently streamlining the intricacies of banking operations and transactions
- The Asia Pacific region is anticipated to emerge as the fastest-growing market over the forecast period. The primary drivers of growth include the high penetration of smartphones and digital services. Moreover, rising awareness of the use of the latest technology among the youth is expected to drive growth
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research Methodology
- 1.2 Research Scope and Assumptions
- 1.3 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Core Banking Software Industry Outlook
- 3.1 Market Segmentation and Scope
- 3.2 Core Banking Software Market - Value Chain Analysis
- 3.3 Core Banking Software Market - Market Dynamics
- 3.3.1 Market driver analysis
- 3.3.1.1 Increasing customer demand for advanced banking technologies
- 3.3.1.2 Growing demand for managing customer accounts from a single server
- 3.3.2 Market challenge analysis
- 3.3.2.1 Lack of awareness
- 3.4 Core Banking Software Market - Porter's Five Forces Analysis
- 3.5 Core Banking Software Market - PESTEL Analysis
Chapter 4 Core Banking Software Solution Outlook
- 4.1 Core Banking Software Market Share By Solution, 2022
- 4.2 Deposits
- 4.2.1 Deposits core banking software market, 2017 - 2030
- 4.3 Loans
- 4.3.1 Loans core banking software market, 2017 - 2030
- 4.4 Enterprise Customer Solutions
- 4.4.1 Enterprise customer solutions core banking software market, 2017 - 2030
- 4.5 Others
- 4.5.1 Other core banking software market, 2017 - 2030
Chapter 5 Core Banking Software Service Outlook
- 5.1 Core Banking Software Market Share By Service, 2022
- 5.2 Professional Service
- 5.2.1 Core banking software professional service market, 2017 - 2030
- 5.3 Managed Service
- 5.3.1 Core banking software managed service market, 2017 - 2030
Chapter 6 Core Banking Software Deployment Outlook
- 6.1 Core Banking Software Market Share By Deployment, 2022
- 6.2 Cloud
- 6.2.1 Cloud core banking software market, 2017 - 2030
- 6.3 On-premise
- 6.3.1 On-premise core banking software market, 2017 - 2030
Chapter 7 Core Banking Software End Use Outlook
- 7.1 Core Banking Software Market Share By End Use, 2022
- 7.2 Banks
- 7.2.1 Core banking software market in banks, 2017 - 2030
- 7.3 Financial Institutions
- 7.3.1 Core banking software market in financial institutions, 2017 - 2030
- 7.4 Others
- 7.4.1 Core banking software market in other end uses, 2017 - 2030
Chapter 8 Core Banking Software Regional Outlook
- 8.1 Core Banking Software Market Share By Region, 2022
- 8.2 North America
- 8.2.1 North America core banking software market, 2017 - 2030
- 8.2.2 North America core banking software market, by solution, 2017 - 2030
- 8.2.3 North America core banking software market, by service, 2017 - 2030
- 8.2.4 North America core banking software market, by deployment, 2017 - 2030
- 8.2.5 North America core banking software market, by end use, 2017 - 2030
- 8.2.6 U.S.
- 8.2.6.1 U.S. core banking software market, 2017 - 2030
- 8.2.6.2 U.S. core banking software market, by solution, 2017 - 2030
- 8.2.6.3 U.S. core banking software market, by service, 2017 - 2030
- 8.2.6.4 U.S. core banking software market, by deployment, 2017 - 2030
- 8.2.6.5 U.S. core banking software market, by end use, 2017 - 2030
- 8.2.7 Canada
- 8.2.7.1 Canada core banking software market, 2017 - 2030
- 8.2.7.2 Canada core banking software market, by solution, 2017 - 2030
- 8.2.7.3 Canada core banking software market, by service, 2017 - 2030
- 8.2.7.4 Canada core banking software market, by deployment, 2017 - 2030
- 8.2.7.5 Canada core banking software market, by end use, 2017 - 2030
- 8.3 Europe
- 8.3.1 Europe core banking software market, 2017 - 2030
- 8.3.2 Europe core banking software market, by solution, 2017 - 2030
- 8.3.3 Europe core banking software market, by service, 2017 - 2030
- 8.3.4 Europe core banking software market, by deployment, 2017 - 2030
- 8.3.5 Europe core banking software market, by end use, 2017 - 2030
- 8.3.6 Germany
- 8.3.6.1 Germany core banking software market, 2017 - 2030
- 8.3.6.2 Germany core banking software market, by solution, 2017 - 2030
- 8.3.6.3 Germany core banking software market, by service, 2017 - 2030
- 8.3.6.4 Germany core banking software market, by deployment, 2017 - 2030
- 8.3.6.5 Germany core banking software market, by end use, 2017 - 2030
- 8.3.7 U.K.
- 8.3.7.1 U.K. core banking software market, 2017 - 2030
- 8.3.7.2 U.K. core banking software market, by solution, 2017 - 2030
- 8.3.7.3 U.K. core banking software market, by service, 2017 - 2030
- 8.3.7.4 U.K. core banking software market, by deployment, 2017 - 2030
- 8.3.7.5 U.K. core banking software market, by end use, 2017 - 2030
- 8.3.8 France
- 8.3.8.1 France core banking software market, 2017 - 2030
- 8.3.8.2 France core banking software market, by solution, 2017 - 2030
- 8.3.8.3 France core banking software market, by service,2017 - 2030
- 8.3.8.4 France core banking software market, by deployment, 2017 - 2030
- 8.3.8.5 France core banking software market, by end use, 2017 - 2030
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific core banking software market, 2017 - 2030
- 8.4.2 Asia Pacific core banking software market, by solution, 2017 - 2030
- 8.4.3 Asia Pacific core banking software market, by service, 2017 - 2030
- 8.4.4 Asia Pacific core banking software market, by deployment, 2017 - 2030
- 8.4.5 Asia Pacific core banking software market, by end use, 2017 - 2030
- 8.4.6 China
- 8.4.6.1 China core banking software market, 2017 - 2030
- 8.4.6.2 China core banking software market, by solution, 2017 - 2030
- 8.4.6.3 China core banking software market, by service, 2017 - 2030
- 8.4.6.4 China core banking software market, by deployment, 2017 - 2030
- 8.4.6.5 China core banking software market, by end use, 2017 - 2030
- 8.4.7 India
- 8.4.7.1 India core banking software market, 2017 - 2030
- 8.4.7.2 India core banking software market, by solution, 2017 - 2030
- 8.4.7.3 India core banking software market, by service, 2017 - 2030
- 8.4.7.4 India core banking software market, by deployment, 2017 - 2030
- 8.4.7.5 India core banking software market, by end use, 2017 - 2030
- 8.4.8 Japan
- 8.4.8.1 Japan core banking software market, 2017 - 2030
- 8.4.8.2 Japan core banking software market, by solution, 2017 - 2030
- 8.4.8.3 Japan core banking software market, by service, 2017 - 2030
- 8.4.8.4 Japan core banking software market, by deployment, 2017 - 2030
- 8.4.8.5 Japan core banking software market, by end use, 2017 - 2030
- 8.4.9 Australia
- 8.4.9.1 Australia core banking software market, 2017 - 2030
- 8.4.9.2 Australia core banking software market, by solution, 2017 - 2030
- 8.4.9.3 Australia core banking software market, by service, 2017 - 2030
- 8.4.9.4 Australia core banking software market, by deployment, 2017 - 2030
- 8.4.9.5 Australia core banking software market, by end use, 2017 - 2030
- 8.4.10 South Korea
- 8.4.10.1 South Korea core banking software market, 2017 - 2030
- 8.4.10.2 South Korea core banking software market, by solution, 2017 - 2030
- 8.4.10.3 South Korea core banking software market, by service, 2017 - 2030
- 8.4.10.4 South Korea core banking software market, by deployment, 2017 - 2030
- 8.4.10.5 South Korea core banking software market, by end use, 2017 - 2030
- 8.5 Latin America
- 8.5.1 Latin America core banking software market, 2017 - 2030
- 8.5.2 Latin America core banking software market, by solution, 2017 - 2030
- 8.5.3 Latin America core banking software market, by service, 2017 - 2030
- 8.5.4 Latin America core banking software market, by deployment, 2017 - 2030
- 8.5.5 Latin America core banking software market, by end use, 2017 - 2030
- 8.5.6 Brazil
- 8.5.6.1 Brazil core banking software market, 2017 - 2030
- 8.5.6.2 Brazil core banking software market, by solution, 2017 - 2030
- 8.5.6.3 Brazil core banking software market, by service, 2017 - 2030
- 8.5.6.4 Brazil core banking software market, by deployment, 2017 - 2030
- 8.5.6.5 Brazil core banking software market, by end use, 2017 - 2030
- 8.5.7 Mexico
- 8.5.7.1 Mexico core banking software market, 2017 - 2030
- 8.5.7.2 Mexico core banking software market, by solution, 2017 - 2030
- 8.5.7.3 Mexico core banking software market, by service, 2017 - 2030
- 8.5.7.4 Mexico core banking software market, by deployment, 2017 - 2030
- 8.5.7.5 Mexico core banking software market, by end use, 2017 - 2030
- 8.6 MEA
- 8.6.1 MEA core banking software market, 2017 - 2030
- 8.6.2 MEA core banking software market, by solution, 2017 - 2030
- 8.6.3 MEA core banking software market, by service, 2017 - 2030
- 8.6.4 MEA core banking software market, by deployment, 2017 - 2030
- 8.6.5 MEA core banking software market, by end use, 2017 - 2030
- 8.6.6 Kingdom of Saudi Arabia (KSA)
- 8.6.6.1 Kingdom of Saudi Arabia (KSA) core banking software market, 2017 - 2030
- 8.6.6.2 Kingdom of Saudi Arabia (KSA) core banking software market, by solution, 2017 - 2030
- 8.6.6.3 Kingdom of Saudi Arabia (KSA) core banking software market, by service, 2017 - 2030
- 8.6.6.4 Kingdom of Saudi Arabia (KSA) core banking software market, by deployment, 2017 - 2030
- 8.6.6.5 Kingdom of Saudi Arabia (KSA) core banking software market, by end use, 2017 - 2030
- 8.6.7 UAE
- 8.6.7.1 UAE core banking software market, 2017 - 2030
- 8.6.7.2 UAE core banking software market, by solution, 2017 - 2030
- 8.6.7.3 UAE core banking software market, by service, 2017 - 2030
- 8.6.7.4 UAE core banking software market, by deployment, 2017 - 2030
- 8.6.7.5 UAE core banking software market, by end use, 2017 - 2030
- 8.6.8 South Africa
- 8.6.8.1 South Africa core banking software market, 2017 - 2030
- 8.6.8.2 South Africa core banking software market, by solution, 2017 - 2030
- 8.6.8.3 South Africa core banking software market, by service, 2017 - 2030
- 8.6.8.4 South Africa core banking software market, by deployment, 2017 - 2030
- 8.6.8.5 South Africa core banking software market, by end use, 2017 - 2030
Chapter 9 Competitive Analysis
- 9.1 Recent Developments & Impact Analysis, By Key Market Participants
- 9.2 Company Categorization
- 9.3 Vendor Landscape
- 9.3.1 Company Market Share Analysis, 2022
- 9.4 Company Analysis Tools
- 9.4.1 Company Market Position Analysis
- 9.4.2 Competitive Dashboard Analysis
Chapter 10 Competitive Landscape
- 10.1 Capgemini
- 10.1.1 Company overview
- 10.1.2 Financial performance
- 10.1.2.1 Revenue share by business segments (%), 2022
- 10.1.3 Product benchmarking
- 10.1.4 Strategic initiatives
- 10.2 Finastra
- 10.2.1 Company overview
- 10.2.2 Product benchmarking
- 10.2.3 Strategic initiatives
- 10.3 FIS
- 10.3.1 Company overview
- 10.3.2 Financial performance
- 10.3.2.1 Revenue share by business segments (%), 2022
- 10.3.3 Product benchmarking
- 10.3.4 Strategic initiatives
- 10.4 Fiserv, Inc.
- 10.4.1 Company overview
- 10.4.2 Financial performance
- 10.4.3 Product benchmarking
- 10.4.4 Strategic initiatives
- 10.5 HCL Technologies Limited
- 10.5.1 Company overview
- 10.5.2 Financial performance
- 10.5.2.1 Revenue share by business segments (%), 2022
- 10.5.3 Product benchmarking
- 10.5.4 Strategic initiatives
- 10.6 Infosys Limited
- 10.6.1 Company overview
- 10.6.2 Financial performance
- 10.6.2.1 Revenue share by business segments (%), 2022
- 10.6.3 Product benchmarking
- 10.6.4 Strategic initiatives
- 10.7 Jack Henry & Associates, Inc.
- 10.7.1 Company overview
- 10.7.2 Financial performance
- 10.7.2.1 Revenue share by business segments (%), 2022
- 10.7.3 Product benchmarking
- 10.7.4 Strategic initiatives
- 10.8 Oracle Corporation
- 10.8.1 Company overview
- 10.8.2 Financial performance
- 10.8.2.1 Revenue share by business segments (%), 2022
- 10.8.3 Product benchmarking
- 10.8.4 Strategic initiatives
- 10.9 Temenos
- 10.9.1 Company overview
- 10.9.2 Financial performance
- 10.9.3 Product benchmarking
- 10.9.4 Strategic initiatives
- 10.10 Unisys
- 10.10.1 Company overview
- 10.10.2 Financial performance
- 10.10.2.1 Revenue share by business segments (%), 2022
- 10.10.3 Product benchmarking
- 10.10.4 Strategic initiatives