Core Banking Solutions Market by Component (Solution and Service), Deployment Model (On-Premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises [SMEs]), Type (Enterprise Customer Solutions, Loans, Deposits, and Others), and End User (Banks, Credit Unions & Community Banks, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027. The global core banking solutions market size was valued at $9,856.45 million in 2019, and is projected to reach $28,785.85 million by 2027, growing at a CAGR of 14.6% from 2020 to 2027.
Core banking can be termed as a back-end system, which involves processing of banking transactions across various branches of a bank on a single platform. Core banking solutions (CBS) is a bank’s centralized system, responsible for ensuring seamless workflow by automating frontend & backend processes within a bank. Moreover, CBS provides customers with an access to banking facilities from any bank branches across a country and facilitates information across delivery channels. Furthermore, CBS helps banks in processing deposits & withdrawals, enhancing customer relationship management activities and transactions management.
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Top impacting factors
- Surge in adoption of core banking technology
- Huge maintenance cost & shortage of skilled workforce
- Growth in mergers & acquisitions among banks & financial institutions across regions
Segment review
The core banking solutions market is segmented on the basis of component, deployment model, enterprise size, type, end user, and region. On the basis of component, the market is bifurcated into solution and service. In terms of deployment model, it is divided into on-premise and cloud. Based on enterprise size, the market is segmented into large enterprises and small & medium enterprises (SMEs). By type, it is segmented into enterprise customer solutions, loans, deposits, and others. On the basis of end user, the market is segmented into banks, credit unions & community banks, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key benefits for stakeholders
- The study provides in-depth analysis of the global core banking solutions market share along with current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the core banking solutions market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- An extensive analysis of the key segments of the industry helps to understand the global core banking solutions market trends.
- The quantitative analysis of the global core banking solutions market from 2020 to 2027 is provided to determine the market potential.
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Core Banking Solutions Market Report Highlights
| Aspects | Details |
|---|---|
| BY COMPONENT | SOLUTIONSERVICE |
| BY DEPLOYMENT MODEL | ON-PREMISECLOUD |
| BY ENTERPRISE SIZE | LARGE ENTERPRISESSMALL & MEDIUM ENTERPRISES (SMES) |
| BY TYPE | ENTERPRISE CUSTOMER SOLUTIONSLOANSDEPOSITSOTHERS |
| BY END USER | BANKSCREDIT UNIONS & COMMUNITY BANKSOTHERS |
| BY REGION | NORTH AMERICA (U.S., CANADA)EUROPE (UK, GERMANY, FRANCE, SPAIN, NETHERLANDS, ITALY, REST OF EUROPE)ASIA-PACIFIC (CHINA, INDIA, JAPAN, SINGAPORE, AUSTRALIA, REST OF ASIA-PACIFIC) |
| LAMEA | LATIN AMERICAMIDDLE EASTAFRICA |
| Key Market Players | CAPITAL BANKING SOLUTIONS, EDGEVERVE SYSTEMS LIMITED, FINASTRA, FIS, FISERV, INC., NCR CORPORATION, ORACLE, SAP SE, TATA CONSULTANCY SERVICES LIMITED, TEMENOS HEADQUARTERS SA |
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