Global Retail Core Banking Platform Market Overview:
Retail core banking platform market aims at software solutions that concentrate on serving the banking sector of retail customers. These cover basic banking facilities like accounts, operations, credit, and payments in their working. They play a vital role in retail banking, helping manage the customer base, ensure secure transactions, and address the needs of regulatory authorities. Areas of use for retail core banking platforms are retail banks, credit unions, and any other bank that deals with individual consumers. Current trends in the market include; incorporating digital banking solutions to meet customers’ needs, cloud service to address scalability and flexibility, and artificial intelligence and data analysis for customized banking. As the digital banking environment and its demand enhance the use of the retail core banking platform market is gradually increasing and developing new technologies.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Shift Towards Cloud-Based Platforms Due to Its Flexibility and Cost Effectiveness and Integration of Advanced Technologies Such as AI, Machine Learning and Blockchain
Market Growth Drivers:
Rowing Adoption of Digital Banking and Demand for Mobile Banking and Digital Channels and Demand for Personalized Banking Services Among Consumers
Challenges:
Presence of Multiple Vendors in the Market and Competition from Developed Fintech Companies
Restraints:
High Upfront Costs of Implementing New Core Banking Platform May Limit Adoption
Opportunities:
Convergence of Retail and Corporate Banking Platforms
Competitive Landscape:
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are 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 (United States) and SAP (Germany). Analyst at AMA Research see United States Players to retain maximum share of Global Retail Core Banking Platform market by 2030. Considering Market by Bank Size, the sub-segment i.e. Small & Medium Sized will boost the Retail Core Banking Platform market. Considering Market by Functionality, the sub-segment i.e. Transaction Processing will boost the Retail Core Banking Platform market. Considering Market by Deployment, the sub-segment i.e. Cloud will boost the Retail Core Banking Platform market. Considering Market by Platform Type, the sub-segment i.e. Web-Based will boost the Retail Core Banking Platform market.
What Can be Explored with the Retail Core Banking Platform Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Retail Core Banking Platform Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Retail Core Banking Platform
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Retail Core Banking Platform market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Retail Core Banking Platform market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, FinTech Companies, Software Vendors and Cloud Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.