According to IMARC Group’s latest report, titled “Core Banking Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global core banking software market is expected to exhibit a CAGR of 7.78% during 2022-2027. Looking forward, IMARC Group expects the global core banking software market to continue its robust growth during the forecast period (2022-2027).
Core banking software (CBS) refer to the tools that are generally used for handling banking activities, including transactions, payments, and financial records. These services aid in processing day-to-day banking transactions, such as publishing updates to reports. CBS also assist in calculating interests, floating new accounts, servicing loans, processing deposits and withdrawals, and managing customer relationships. In addition, these services reduce operational costs, minimize human errors, facilitate the decision-making process, ensure lesser workforce requirements for execution, and enable greater accountability of the customers. As a result, CBS find widespread applications in banks and financial institutions across the globe.
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Core Banking Software Market Trends:
The escalating demand for these services, as they offer various benefits, including process standardization, transaction accuracy, improved management of documentation and records, and ease in the submission of regulatory reports, is among the primary factors driving the core banking software market. Besides this, the elevating requirement for these tools, owing to the increased guidance to consumers in opening accounts, calculating interest, completing quick routine transactions of cash deposits and withdrawals, and offering banking services anywhere, is further augmenting the market growth. Moreover, the growing popularity of core banking software across the globe, as they receive e-payments instantly and transfer funds remotely, and the gradual shift toward online banking solutions are also catalyzing the global market. Apart from this, the leading service providers are integrating big data, artificial intelligence (AI), and software as a service (SaaS) technology to offer unique financial experiences and accelerate digital transformation, which is expected to bolster the core banking software market in the coming years.
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Capgemini
- Fidelity Information Services Inc.
- Finastra
- Fiserv Inc.
- HCL Technologies Limited
- Infosys Limited
- Jack Henry & Associates Inc.
- Oracle Corporation
- SAP SE
- Tata Consultancy Services Limited
- Temenos AG
- Unisys Corporation.
Core Banking Software Market Segmentation:
The report has categorized the market based on solution, service, deployment and end use.
Breakup by Solution:
- Deposits
- Loans
- Enterprise Customer Solutions
- Others
Breakup by Service:
- Professional Service
- Managed Service
Breakup by Deployment:
- Cloud-based
- On-premises
Breakup by End Use:
- Banks
- Financial Institutions
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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