Core Banking Solutions Market Growth Strategies of Key Players 2030

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2. “Rapid change in customer preferences toward availing banking product lines and increase in demand for core
banking solutions among banks to improve resilience & efficiency of banking operations are the major trends in the
market.”
Pramod Borasi
Research Analyst, BFSI at Allied Market
Research
Core Banking Solutions Market
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3. According to a recent report published by Allied Market Research, titled, “Core banking solutions Market by
Component, Deployment Model, Enterprise Size, Type, and End User: Opportunity Analysis and Industry Forecast,
2020-2027,” the global core banking solutions industry size was valued at $9.85 billion in 2019, and is projected to
reach $28.78 billion by 2027, growing at a CAGR of 14.6% from 2020 to 2027.
Core banking solutions enhance inter-connectivity between branches of the same bank & facilitates management of
loans, deposits, credit processing, and others. Moreover, errors that occur due to multiple entries are eradicated,
changes are managed in existing products, and back office data & self-service operations are merged by using these
solutions, which, in turn, boosts the market growth. Furthermore, it allows branches of banks to access applications
from centralized data centers on a single platform.
Core Banking Solutions Market
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4. Factors such as surge in adoption of core banking technology and numerous benefits provided by core banking
solutions are major factors that drive growth of the core banking solutions market. In addition, growth in mergers &
acquisitions among banks & financial institutions across various regions and untapped potential of emerging
economies are expected to provide lucrative opportunities for core banking solution providers in the upcoming
years.
The core banking solutions industry has experienced significant impact on revenue, owing to imposition of
lockdowns & shutdowns, owing to the coronavirus pandemic. Several banks are changing existing business
operations & modernizing with digitalized offerings in the market. Therefore, owing to change in consumer behavior
& rise in need for banking services, banks & financial institutions across major countries are implementing secured
technologies by adopting core banking solutions. Therefore, rise in adoption of advance technologies and increase
in need to provide better customer services result in significant revenue growth for core banking solutions providers
globally.
Core Banking Solutions Market
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5. Key findings of the study
• By deployment model, the on-premise segment led the core banking solutions market size, in terms of revenue
in 2019.
• By end user, the banks segment accounted for the highest market share in 2019.
• By region, North America generated the highest revenue in 2019.
Core Banking Solutions Market
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6. Major Companies:
• Capital Banking Solutions
• EdgeVerve Systems Limited
• Finastra
• FIS
• Fiserv, Inc.
• NCR Corporation
• Oracle
• SAP SE
• Tata Consultancy Services Limited
• Temenos Headquarters SA.
Core Banking Solutions Market
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7. Contact:
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Core Banking Solutions Market
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