Industry Background:
Core Banking Solution (CBS) is networking of branches, which allows customers to function their accounts, and avail banking facilities from any branch of the bank on core banking solution network, regardless of where consumer maintains their account. The customer is no more the customer of a particular branch they becomes the bank’s customer. Furthermore, core banking solution branches are inter-connected with each other. Therefore, customers of core banking solution branches can avail various banking facilities from any other core banking solution branch located anywhere in the world.This growth is primarily driven by Easy Ability to Introduce New Financial Products and Manage Changes in Existing Products
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | 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 |
The Diversified Financial Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as SAP SE (Germany), Infosys Limited (India), IBM Corporation (United States), HCL Technologies Limited (India), Tata Consultancy Services (India), Capgemini SE (France), Oracle Financial Services Software Limited (India), Temenos Group AG (Switzerland), Misys (United Kingdom) and Fiserv, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On Mar. 18, 2019, FIS, a global leader in financial services technology, and Worldpay, Inc., a global leader in eCommerce and payments, announce that they have entered into a definitive merger agreement.
On 8 Jan 2019, SAP announces availability of a new SAP S/4HANA-Based Subledger solution for financial products. The solution provides a central hub to manage data between operational and finance systems, streamlining accounting flows and supporting increased transparency and control.
Influencing Trend:
Rapid Adoption of Technology Among the Customer
Market Growth Drivers:
Easy Ability to Introduce New Financial Products and Manage Changes in Existing Products, Seamless Merging Of Back Office Data and Self-Service Operations and Growing Need of Managing Accounts of Customers From A Single Server
Challenges:
Lack of Network Infrastructure in Developing Countries
Restraints:
Data Privacy and Security Threat
Opportunities:
Data Privacy and Security Threat
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Core Banking Solution Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Core Banking Solution Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Core Banking Solution players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Core Banking Solution Study Sheds Light on
The Core Banking Solution Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Core Banking Solution industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Core Banking Solution industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.