About Core Banking System Software
Core banking system software automates the management of all the operations related to the core banking system in every banking system. The software manages the accounts balances, transactions, receipts, journal entries, and other reporting tools. This is widely used in regional and international banks around the world to make the operation easy. With the introduction of big data and analytics, the software provides insights into the operation.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2023 |
Unit | Value (USD Million) |
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), EdgeVerve (Infosys) (India), Oracle Corporation (United States), SAP SE (Germany), Fiserv, Inc. (United States), Fidelity National Information Services, Inc. (United States), Tata Consultancy Services Limited (India), Finastra (United Kingdom), Avaloq (Switzerland), Jack Henry & Associates, Inc. (United States) and Sopra Steria Group SA (France) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Core Banking System Software market by , Application (International Bank and Regional Bank) and Region.
On the basis of geography, the market of Core Banking System Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Windows will boost the Core Banking System Software 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-cloud will boost the Core Banking System Software 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. Business Intelligence will boost the Core Banking System Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of Big Data and Analytics in the Core Banking System Software
Market Growth Drivers:
Demand for the Automation in Core Banking with the Number of Banking Facilities and Need for the Minimising the Human Errors to Provide Efficiency in the Transactions and Other Operation
Challenges:
Technical Issues and Failure with the Computer Systems
Restraints:
Risk of Data Theft and Regulatory Compliances with Core Banking System Software
Opportunities:
Technological Advancement in the Core Banking System Software and Growing Infrastructure Development and Spendings of Banking Industry will Boost the Core Banking System Software Market
Market Leaders and their expansionary development strategies
On 26th May 2020, Infosys the global leader in next-generation digital services and consulting, announced a strategic partnership with Avaloq, a leading wealth management software and digital technology provider headquartered in Zurich, to provide end-to-end (e2e) wealth management capabilities through digital platforms.
On 13th January 2020, FIS announced that First Republic Bank, a leading provider of private banking, private business banking, and wealth management services, has selected the FIS IBS platform as part of a core banking modernization program. and On 21st January 2020, Temenos, the banking software company, launched a front-to-back banking software as a service designed uniquely for the US market – with pre-integrated U.S. banking products and services designed to deliver an outstanding customer experience.
Key Target Audience
Core Banking System Software Developers, Core Banking System Software Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies 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.