Core Banking Software Market Analysis Report 2023-2030, Featuring Profiles of Capgemini, Finastra, FIS, Fiserv, HCL Technologies, Infosys, Oracle, Temenos & Unisys

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Feb 08, 2024, 06:30 ET

DUBLIN, Feb. 8, 2024 /PRNewswire/ -- The "Core Banking Software Market Size, Share & Trends Analysis Report By Solution (Deposits, Loans), By Service (Professional Service, Managed Service), By Deployment (Cloud, On-premise), By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global core banking software market size is expected to reach USD 21.61 billion by 2030, expanding at a CAGR of 9.3% from 2023 to 2030.

The expansion of the market can be accredited to the upsurge in the embrace of core banking technology by banks and financial institutions on a global scale. This technological advancement is facilitating the synchronization of front, middle, and back-office operations for numerous banks worldwide.

Core banking software enables banks and financial institutions to scale operations and achieve economies of scale. Moreover, the rise of digital and online banks has changed customer preferences for convenient and easy-to-use channels. Core banking software solutions help traditional banks innovate, launch new products quickly, and reduce time to market.

In recent years, the amount of structured and unstructured data available to banks has increased significantly. Automation enables banks to leverage advanced analytics tools to study customer data and identify patterns and trends. With predictive analytics, banks can anticipate customer preferences, behavior, and potential needs, enabling them to offer targeted and timely offers and recommendations.

The pandemic adversely affected financial institutions that lacked the technology to adapt. While initially, firms, such as banks, were taken aback, they realized the need for technological enhancements for continued operations. The accelerated digital transformation initiatives are expected to bode well for market growth over the forecast period.

Core Banking Software Market Report Highlights

Within the solutions segment, the enterprise customer solutions segment is expected to grow significantly over the forecast period. Enterprise customer solutions help banks effectively track and process every transaction that a customer does at a bank. It also helps in improving the efficiency of operations
The core banking managed services model provides banks and financial institutions with a competitive advantage by guaranteeing superior user-friendliness, comprehensive functionality, bug resolution, and timely enhancements. Contemporary financial institutions require several intricate systems to operate concurrently, ensuring seamless service provision and optimal availability. This aspect is anticipated to bolster the requirement for managed services throughout the projected timeframe
Traditional infrastructure deployed on-site necessitates substantial initial expenditures and continuous upkeep expenses. Cloud computing eradicates the requirement for costly hardware and infrastructure, as financial institutions can procure resources based on a consumption-driven approach. This financially efficient paradigm assists banks in optimizing their information technology expenditures
The growing necessity to enhance the productivity and operational effectiveness of banks is projected to propel the uptake of core banking software within the banking sector throughout the forecast period. Core banking software empowers customers to oversee their accounts globally, concurrently streamlining the intricacies of banking operations and transactions
The Asia Pacific region is anticipated to emerge as the fastest-growing market over the forecast period. The primary drivers of growth include the high penetration of smartphones and digital services. Moreover, rising awareness of the use of the latest technology among the youth is expected to drive growth

Key Topics Covered:

Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources

Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot

Chapter 3 Core Banking Software Industry Outlook
3.1 Market Segmentation and Scope
3.2 Core Banking Software Market - Value Chain Analysis
3.3 Core Banking Software Market - Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Increasing customer demand for advanced banking technologies
3.3.1.2 Growing demand for managing customer accounts from a single server
3.3.2 Market challenge analysis
3.3.2.1 Lack of awareness
3.4 Core Banking Software Market - Porter's Five Forces Analysis
3.5 Core Banking Software Market - PESTEL Analysis

Chapter 4 Core Banking Software Solution Outlook
4.1 Core Banking Software Market Share By Solution, 2022
4.2 Deposits
4.3 Loans
4.4 Enterprise Customer Solutions
4.5 Others

Chapter 5 Core Banking Software Service Outlook
5.1 Core Banking Software Market Share By Service, 2022
5.2 Professional Service
5.3 Managed Service

Chapter 6 Core Banking Software Deployment Outlook
6.1 Core Banking Software Market Share By Deployment, 2022
6.2 Cloud
6.3 On-premise

Chapter 7 Core Banking Software End Use Outlook
7.1 Core Banking Software Market Share By End Use, 2022
7.2 Banks
7.3 Financial Institutions
7.4 Others

Chapter 8 Core Banking Software Regional Outlook
8.1 Core Banking Software Market Share By Region, 2022

Chapter 9 Competitive Analysis
9.1 Recent Developments & Impact Analysis, By Key Market Participants
9.2 Company Categorization
9.4 Company Analysis Tools

Chapter 10 Competitive Landscape

Capgemini
Finastra
FIS
Fiserv, Inc.
HCL Technologies Limited
Infosys Limited
Jack Henry & Associates, Inc.
Oracle Corporation
Temenos
Unisys

For more information about this report visit https://www.researchandmarkets.com/r/wyp43o

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