About Retail Core Banking Systems
Retail core banking systems is a software solution which is used in the retail industry for conducting banking transactions easily by a banking institution and other businesses. The systems deposits and lends money related to the transaction of retail, manages the central accounting, customer information, and other functions. It consists of a centralized database that supports financial management in the retail sector.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to North America Retail Core Banking Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Temenos AG (Switzerland), Oracle Corporation (United States), EdgeVerve (India), Fiserv, Inc. (United States), TATA Consultancy Services Limited (India), Fidelity National Information Services, Inc. (United States), Sopra Steria Group SA (France), Finastra (United Kingdom), Avaloq (Switzerland), FIS Global, Intellect Design Arena, Jack Henry & Associates, SAP and Exictos are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of North America Retail Core Banking Systems market by , Application (Small-medium Enterprises and Large Size Enterprises) and Region.
On the basis of geography, the market of Retail Core Banking Systems has been segmented into North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Web-Based will boost the Retail Core Banking Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-Premises will boost the Retail Core Banking Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Customer Personalization will boost the Retail Core Banking Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Intelligent Technology in Retail Core Banking Systems and Technological Advancement in Retail Core Banking Systems
Market Growth Drivers:
Growing Number of Core Banking Services Across the World and Demand for the Automation in the Retail Banking Services
Challenges:
Stringent Regulatory Guidelines on Retail Core Banking Systems
Restraints:
Cyber Threats Related Issues wth Retail Core Banking Systems
Opportunities:
Surging Banking Industry with the Infrastructure Advancement and Increasing Spending on Retail Core Banking Systems
Market Leaders and their expansionary development strategies
On 25th September 2019, Temenos, the banking software company, announced that the acquisition of Kony Inc, the fast-growing US digital banking SaaS company has now closed. The acquisition will accelerate Temenos’ US presence and strengthen Temenos Infinity, the breakthrough digital banking product.
On 19th February 2020, Financial technology supplier Finastra has launched its core banking platform Fusion Phoenix on a public cloud, implementing the systems with Florida bank Commerce National Bank & Trust and Washington bank Commencement Bank of Tacoma. The two banks are the first ones in the US to access the solution in what Finastra calls a milestone in core delivery.
Key Target Audience
Retail Core Banking Systems Provider, Retail Core Banking Systems Industry Association, Research and Development Institutes, Regulatory Bodies, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.