Core Banking Solution Market (2024)

Branch Less Banking to Impact Core Banking Solution Market

It is quite challenging for banks in emerging economies to establish a physical presence to cater to the immense needs of an underserved populations in rural areas. Branch less banking offers a good solution to this predicament and banks have invested in mobile banking, net banking, and email banking to be available to any customers with the tap of a button.

Banks are now able to tap customers in far-flung rural areas and thereby increase banking frequency. There is a strong likelihood of some customers avoiding the use of banks because of the difficulties faced in terms of travel and time with branch based transactions. Therefore, banks are providing their customers ample choice and easy access via smartphones and companies involved in the core banking solutions market should take this into account.

Banks Dominate the Core Banking Solution Market by End Users

Banks have a commanding position in the core banking solutions market and are poised to gain massive BPS over the course of the forecast period. The banks segment is expected to have a value of just under US$ 7.6 billion in 2017 and exhibit the highest market attractiveness of 5.0 for the period from 2017 to 2027.

The financial institution segment is roughly half the size of banks in the core banking solutions market. Nonetheless, a CAGR of 4.6% from 2017 to 2027 makes it unwise to ignore financial institutions entirely in the core banking solutions market.

Banks Focussing on Consumer Analytics to Foster Loyalty

Nowadays, banks have begun to prioritize customer behavioural analysis through big data. This is one of the biggest trends in the core banking solutions market and customer data analytics is essentially studying the customer’s data provided to the respective bank.

Customer data analytics functions as the base for modifying the core banking solution to cater to changing customer requirements. Key stakeholders in the core banking solutions market are trying to develop new and innovative technologies that increase their customer base while entrenching loyalty amongst the current ones, primarily by way of exhaustive consumer analytics.

Customer Satisfaction and Retention Critical in Core Banking Solution Market

As a result of cutthroat competition in the banking sector, retail banks now face the challenge of customer retention and core banking solutions are the link between banks and their customers in ensuring this is addressed. Core banking solutions allow banks to perform an effective customer analysis while simultaneously enabling customers to carry out their usual banking transactions. Customer satisfaction is improved with the core banking solutions and the latter go a long way in reducing customer effort.

North America and Europe have Well-Developed Financial Infrastructure

North America and Europe have a robust financial infrastructure in place with New York and London being the global capitals of financial transactions. The Western Europe banks segment is anticipated to have a value of almost US$ 3 billion by end 2027 that should make it roughly twice the size of financial institutions at that time. A similar potential exists in the North America banks segment as is it predicted to push past US$ 3.1 billion in end 2027.

Core Banking Solution Market Taxonomy

End User:

• Banks
• Financial Institution
• Others

Component:

• Software
• Services

Region:

• North America
• Western Europe
• Eastern Europe
• Latin America
• APEJ
• Japan
• MEA

Table of Content

1. Executive Summary 1.1. Market Overview 1.2. Market Analysis 1.3. FMI Analysis and Recommendations2. Market Introduction 2.1. Market Taxonomy 2.2. Market Definition 2.3. Market Overview3. Market View Point 3.1. Macro-Economic Factors 3.2. Opportunity Analysis 3.3. Technological Trends 3.4. Key Standards4. Global Market Analysis 2012–2016 and Forecast 2017–2027 4.1. Introduction 4.2. Market Size and Y-o-Y Growth 4.3. Absolute $ Opportunity5. North America Market Analysis 2012–2016 and Forecast 2017–2027 5.1. Introduction 5.2. Regional Market Dynamics 5.2.1. Drivers 5.2.2. Restraints 5.2.3. Trends 5.3. Market Size (US$ Mn) By Country, 2012-2016 5.3.1. U.S. 5.3.2. Canada 5.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 5.4.1. U.S. 5.4.2. Canada 5.5. Market Size (US$ Mn) and Forecast By Component 5.5.1. Software 5.5.2. Services 5.6. Market Size (US$ Mn) and Forecast By End User 5.6.1. Banks 5.6.2. Financial Institution 5.6.3. Others 5.7. Market Attractiveness Analysis 5.7.1. By Country 5.7.2. By Component 5.7.3. By End User 5.8. Market Presence (Intensity Map)6. Western Europe Market Analysis 2012–2016 and Forecast 2017–2027 6.1. Introduction 6.2. Regional Market Dynamics 6.2.1. Drivers 6.2.2. Restraints 6.2.3. Trends 6.3. Market Size (US$ Mn) By Country, 2012-2016 6.3.1. Germany 6.3.2. France 6.3.3. U.K. 6.3.4. Spain 6.3.5. Italy 6.3.6. BENELUX 6.3.7. Nordic 6.3.8. Rest of Western Europe 6.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 6.4.1. Germany 6.4.2. France 6.4.3. U.K. 6.4.4. Spain 6.4.5. Italy 6.4.6. BENELUX 6.4.7. Nordic 6.4.8. Rest of Western Europe 6.5. Market Size (US$ Mn) and Forecast By Component 6.5.1. Software 6.5.2. Services 6.6. Market Size (US$ Mn) and Forecast By End User 6.6.1. Banks 6.6.2. Financial Institution 6.6.3. Others 6.7. Market Attractiveness Analysis 6.7.1. By Country 6.7.2. By Component 6.7.3. By End User 6.8. Market Presence (Intensity Map)7. Eastern Europe Market Analysis 2012–2016 and Forecast 2017–2027 7.1. Introduction 7.2. Regional Market Dynamics 7.2.1. Drivers 7.2.2. Restraints 7.2.3. Trends 7.3. Market Size (US$ Mn) By Country, 2012-2016 7.3.1. Russia 7.3.2. Poland 7.3.3. Rest of Eastern Europe 7.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 7.4.1. Russia 7.4.2. Poland 7.4.3. Rest of Eastern Europe 7.5. Market Size (US$ Mn) and Forecast By Component 7.5.1. Software 7.5.2. Services 7.6. Market Size (US$ Mn) and Forecast By End User 7.6.1. Banks 7.6.2. Financial Institution 7.6.3. Others 7.7. Market Attractiveness Analysis 7.7.1. By Country 7.7.2. By Component 7.7.3. By End User 7.8. Market Presence (Intensity Map)8. Latin America Market Analysis 2012–2016 and Forecast 2017–2027 8.1. Introduction 8.2. Regional Market Dynamics 8.2.1. Drivers 8.2.2. Restraints 8.2.3. Trends 8.3. Market Size (US$ Mn) By Country, 2012-2016 8.3.1. Brazil 8.3.2. Mexico 8.3.3. Rest of Latin America 8.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 8.4.1. Brazil 8.4.2. Mexico 8.4.3. Rest of Latin America 8.5. Market Size (US$ Mn) and Forecast By Component 8.5.1. Software 8.5.2. Services 8.6. Market Size (US$ Mn) and Forecast By End User 8.6.1. Banks 8.6.2. Financial Institution 8.6.3. Others 8.7. Market Attractiveness Analysis 8.7.1. By Country 8.7.2. By Component 8.7.3. By End User 8.8. Market Presence (Intensity Map)9. Asia Pacific Excluding Japan (APEJ) Market Analysis 2012–2016 and Forecast 2017–2027 9.1. Introduction 9.2. Regional Market Dynamics 9.2.1. Drivers 9.2.2. Restraints 9.2.3. Trends 9.3. Market Size (US$ Mn) By Country, 2012-2016 9.3.1. China 9.3.2. India 9.3.3. Australia and New Zealand 9.3.4. ASEAN 9.3.5. Rest of APEJ 9.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 9.4.1. China 9.4.2. India 9.4.3. Australia and New Zealand 9.4.4. ASEAN 9.4.5. Rest of APEJ 9.5. Market Size (US$ Mn) and Forecast By Component 9.5.1. Software 9.5.2. Services 9.6. Market Size (US$ Mn) and Forecast By End User 9.6.1. Banks 9.6.2. Financial Institution 9.6.3. Others 9.7. Market Attractiveness Analysis 9.7.1. By Country 9.7.2. By Component 9.7.3. By End User 9.8. Market Presence (Intensity Map)10. Japan Market Analysis 2012–2016 and Forecast 2017–2027 10.1. Introduction 10.2. Regional Market Dynamics 10.2.1. Drivers 10.2.2. Restraints 10.2.3. Trends 10.3. Market Size (US$ Mn) and Forecast By Component 10.3.1. Software 10.3.2. Services 10.4. Market Size (US$ Mn) and Forecast By End User 10.4.1. Banks 10.4.2. Financial Institution 10.4.3. Others 10.5. Market Attractiveness Analysis 10.5.1. By Component 10.5.2. By End User 10.6. Market Presence (Intensity Map)11. Middle East and Africa Market Analysis 2012–2016 and Forecast 2017–2027 11.1. Introduction 11.2. Regional Market Dynamics 11.2.1. Drivers 11.2.2. Restraints 11.2.3. Trends 11.3. Market Size (US$ Mn) By Country, 2012-2016 11.3.1. GCC Countries 11.3.2. Turkey 11.3.3. Northern Africa 11.3.4. South Africa 11.3.5. Rest of MEA 11.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 11.4.1. GCC Countries 11.4.2. Turkey 11.4.3. Northern Africa 11.4.4. South Africa 11.4.5. Rest of MEA 11.5. Market Size (US$ Mn) and Forecast By Component 11.5.1. Software 11.5.2. Services 11.6. Market Size (US$ Mn) and Forecast By End User 11.6.1. Banks 11.6.2. Financial Institution 11.6.3. Others 11.7. Market Attractiveness Analysis 11.7.1. By Country 11.7.2. By Component 11.7.3. By End User 11.8. Market Presence (Intensity Map)12. Forecast Factors: Relevance and Impact13. Forecast Assumptions14. Competition Landscape 14.1. Market Structure 14.2. Market Share Analysis 14.3. Competition Intensity Mapping By Market Taxonomy 14.4. Competition Dashboard 14.5. Company Profiles (Details – Overview, Financials, Strategy, Recent Developments) 14.5.1. SAP SE 14.5.2. Oracle Corporation 14.5.3. Infosys Limited 14.5.4. FIS (Fidelity Information Services) 14.5.5. Tata Consultancy Services Private Limited 14.5.6. Misys 14.5.7. HCL Technologies Limited 14.5.8. Temenos Group AG 14.5.9. Capgemini 14.5.10. Infrasoft Technologies Ltd. 14.5.11. Company Snapshot 14.5.11.1. IBM Corporation 14.5.11.2. Nelito Systems Ltd. 14.5.11.3. Infrasoft Technologies Ltd. 14.5.11.4. COBISCORP 14.5.11.5. Wipro Limited15. Global Market Analysis 2012–2016 and Forecast 2017–2027 15.1. Introduction / Key Findings 15.2. Market Size (US$ Mn) and Forecast By Region 15.2.1. North America 15.2.2. Western Europe 15.2.3. Eastern Europe 15.2.4. Latin America 15.2.5. Asia Pacific Excluding Japan 15.2.6. Japan 15.2.7. Middle East and Africa 15.3. Market Attractiveness Analysis By Region16. Global Market Analysis 2012–2016 and Forecast 2017–2027, By Component 16.1. Introduction 16.2. Market Size (US$ Mn) and Forecast By Type 16.2.1. Software 16.2.2. Service 16.3. Market Attractiveness Analysis By Component17. Global Market Analysis 2012–2016 and Forecast 2017–2027, By End User 17.1. Introduction / Key Findings 17.2. Market Size (US$ Mn) and Forecast By Application 17.2.1. Banks 17.2.2. Financial Institution 17.2.3. Others 17.3. Market Attractiveness Analysis By Application18. Research Methodology19. Assumption and Acronyms

List of Tables

Table 01: North America Market Value (US$ Mn), By Component, 2012–2016Table 02: North America Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Component, 2017–2027Table 03: North America Market Value (US$ Mn), By End User, 2012–2016Table 04: North America Market Value (US$ Mn) and Y-o-Y Growth Forecast, By End User, 2017–2027Table 05: Western Europe Market Value (US$ Mn), By Component, 2012–2016Table 06: Western Europe Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Component, 2017–2027Table 07: Western Europe Market Value (US$ Mn), By End User, 2012–2016Table 08: Western Europe Market Value (US$ Mn) and Y-o-Y Growth Forecast, By End User, 2017–2027Table 09: Eastern Europe Market Value (US$ Mn), By Component, 2012–2016Table 10: Eastern Europe Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Component, 2017–2027Table 11: Eastern Europe Market Value (US$ Mn), By End User, 2012–2016Table 12: Eastern Europe Market Value (US$ Mn) and Y-o-Y Growth Forecast, By End User, 2017–2027Table 13: Latin America Market Value (US$ Mn), By Component, 2012–2016Table 14: Latin America Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Component, 2017–2027Table 15: Latin America Market Value (US$ Mn), By End User, 2012–2016Table 16: Latin America Market Value (US$ Mn) and Y-o-Y Growth Forecast, By End User, 2017–2027Table 17: APEJ Market Value (US$ Mn), By Component, 2012–2016Table 18: APEJ Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Component, 2017–2027Table 19: APEJ Market Value (US$ Mn), By End User, 2012–2016Table 20: APEJ Market Value (US$ Mn) and Y-o-Y Growth Forecast, By End User, 2017–2027Table 21: Japan Market Value (US$ Mn), By Component, 2012–2016Table 22: Japan Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Component, 2017–2027Table 23: Japan Market Value (US$ Mn), By End User, 2012–2016Table 24: Japan Market Value (US$ Mn) and Y-o-Y Growth Forecast, By End User, 2017–2027Table 25: MEA Market Value (US$ Mn), By Component, 2012–2016Table 26: MEA Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Component, 2017–2027Table 27: MEA Market Value (US$ Mn), By End User, 2012–2016Table 28: MEA Market Value (US$ Mn) and Y-o-Y Growth Forecast, By End User, 2017–2027

List of Charts

Figure 01 : Global Market Value (US$ Mn), 2017–2027Figure 02 : Region-wise mobile contribution to GDPFigure 03 : Global Per Capita IncomeFigure 04 : Global Market Value (US$ Mn), 2012–2016Figure 05 : Global Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 06 : Global Market Absolute $ Opportunity (US$ Mn) 2017–2027Figure 07 : U.S. Market Value (US$ Mn), 2012–2016Figure 08 : U.S. Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 09 : Canada Market Value (US$ Mn), 2012–2016Figure 10 : Canada Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 11 : North America Market Attractiveness Index, By Country, 2017–2027Figure 12 : North America Market Attractiveness Index, By Component, 2017–2027Figure 13 : North AmericaMarket Attractiveness Index , By End User, 2017–2027Figure 14 : Germany Market Value (US$ Mn), 2012–2016Figure 15 : Germany Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 16 : France Market Value (US$ Mn), 2012–2016Figure 17 : France Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 18 : U.K. Market Value (US$ Mn), 2012–2016Figure 19 : U.K. Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 20 : Spain Market Value (US$ Mn), 2012–2016Figure 21 : Spain Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 22 : Italy Market Value (US$ Mn), 2012–2016Figure 23 : Italy Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 24 : BENELUX Market Value (US$ Mn), 2012–2016Figure 25 : BENELUX Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 26 : Nordic Market Value (US$ Mn), 2012–2016Figure 27 : Nordic Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 28 : Rest of Western Europe Market Value (US$ Mn), 2012–2016Figure 29 : Rest of Western Europe Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 30 : Western Europe Market Attractiveness Index, By Country, 2017–2027Figure 31 : Western Europe Market Attractiveness Index, By Component, 2017–2027Figure 32 : Western EuropeMarket Attractiveness Index , By End User, 2017–2027Figure 33 : Russia Market Value (US$ Mn), 2012–2016Figure 34 : Russia Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 35 : Poland Market Value (US$ Mn), 2012–2016Figure 36 : Poland Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 37 : Rest of Eastern Europe Market Value (US$ Mn), 2012–2016Figure 38 : Rest of Eastern Europe Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 39 : Eastern Europe Market Attractiveness Index, By Country, 2017–2027Figure 40 : Eastern Europe Market Attractiveness Index, By Component, 2017–2027Figure 41 : Eastern EuropeMarket Attractiveness Index , By End User, 2017–2027Figure 42 : Brazil Market Value (US$ Mn), 2012–2016Figure 43 : Brazil Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 44 : Mexico Market Value (US$ Mn), 2012–2016Figure 45 : Mexico Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 46 : Rest of Latin America Market Value (US$ Mn), 2012–2016Figure 47 : Rest of Latin America Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 48 : Latin America Market Attractiveness Index, By Country, 2017–2027Figure 49 : Latin America Market Attractiveness Index, By Component, 2017–2027Figure 50 : Latin AmericaMarket Attractiveness Index , By End User, 2017–2027Figure 51 : China Market Value (US$ Mn), 2012–2016Figure 52 : China Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 53 : India Market Value (US$ Mn), 2012–2016Figure 54 : India Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 55 : Australia & New Zealand Market Value (US$ Mn), 2012–2016Figure 56 : Australia & New Zealand Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 57 : ASEAN Market Value (US$ Mn), 2012–2016Figure 58 : ASEAN Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 59 : Rest of APEJ Market Value (US$ Mn), 2012–2016Figure 60 : Rest of APEJ Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 61 : APEJ Market Attractiveness Index, By Country, 2017–2027Figure 62 : APEJ Market Attractiveness Index, By Component, 2017–2027Figure 63 : APEJ Market Attractiveness Index , By End User, 2017–2027Figure 64 : Japan Market Value (US$ Mn), 2012–2016Figure 65 : Japan Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 66 : Japan Market Attractiveness Index, By Component, 2017–2027Figure 67 : Japan Market Attractiveness Index , By End User, 2017–2027Figure 68 : GCC Countries Market Value (US$ Mn), 2012–2016Figure 69 : GCC Countries Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 70 : Turkey Market Value (US$ Mn), 2012–2016Figure 71 : Turkey Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 72 : North Africa Market Value (US$ Mn), 2012–2016Figure 73 : North Africa Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 74 : South Africa Market Value (US$ Mn), 2012–2016Figure 75 : South Africa Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 76 : Rest of MEA Market Value (US$ Mn), 2012–2016Figure 77 : Rest of MEA Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 78 : MEA Market Attractiveness Index, By Country, 2017–2027Figure 79 : MEA Market Attractiveness Index, By Component, 2017–2027Figure 80 : MEA Market Attractiveness Index , By End User, 2017–2027Figure 81 : Global Market Value Share (%) & BPS Analysis, By Region, 2017 & 2027Figure 82 : Global Market Value Y-o-Y Growth Comparison, By Region 2017 & 2027Figure 83 : North America Market Value (US$ Mn), 2012–2016Figure 84 : North America Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 85 : Western Europe Market Value (US$ Mn), 2012–2016Figure 86: Western Europe Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 87: Eastern Europe Market Value (US$ Mn), 2012–2016Figure 88 : Eastern Europe Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 89: Latin America Market Value (US$ Mn), 2012–2016Figure 90: Latin America Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 91: APEJ Market Value (US$ Mn), 2012–2016Figure 92: APEJ Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 93: Japan Market Value (US$ Mn), 2012–2016Figure 94:Japan Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 95: MEA Market Value (US$ Mn), 2012–2016Figure 96: MEA Market Value (US$ Mn) and Y-o-Y Growth Forecast, 2017–2027Figure 97: Global Market Attractiveness Index, By Region, 2017–2027Figure 98: Global Market Value Share (%) & BPS Analysis, By Component, 2017 & 2027Figure 99: Global Market Value Y-o-Y Growth Comparison, By Component, 2017 & 2027Figure 100: Global Market Value (US$ Mn), By Software Segment, 2012–2016Figure 101:Global Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Software Segment, 2017–2027Figure 102: Global Market Value (US$ Mn), By Services Segment, 2012–2016Figure 103:Global Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Services Segment, 2017–2027Figure 104 : Global Market Attractiveness Index, By Component, 2017–2027Figure 105 : Global Market Value Share (%) & BPS Analysis, By End Users, 2017 & 2027Figure 106 : Global Market Value Y-o-Y Growth Comparison, By End Users, 2017 & 2027Figure 107 : Global Market Value (US$ Mn), By Banks Segment, 2012–2016Figure 108 : Global Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Banks Segment, 2017–2027Figure 109 : Global Market Value (US$ Mn), By Financial Institutions Segment, 2012–2016Figure 110 : Global Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Financial Institutions Segment, 2017–2027Figure 111 : Global Market Value (US$ Mn), By Others Segment, 2012–2016Figure 112 : Global Market Value (US$ Mn) and Y-o-Y Growth Forecast, By Others Segment, 2017–2027Figure 113 : Global Market Attractiveness Index, By End User, 2017–2027