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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.

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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.

Core Banking Solution Market

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.

Sudip Saha
Sudip Saha

Principal Consultant

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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.

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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

Frequently Asked Questions

What is the Growth Outlook for Core Banking Solution Market?

The core banking solution market is likely to secure a CAGR of 4.9% through 2032.

By 2032, how much can the Core Banking Solution Market Grow?

The core banking solution market size is likely to cross US$ 14.84 by 2032.

What is the Current Valuation of the Core Banking Solution Market?

The core banking solution market is likely to record a value of US$ 9.65 Bn in 2022.

Which is the Dominant Core Banking Solution Market?

North America and Europe are the leading regions in the core banking solution market.

Table of Content

1. Executive Summary

    1.1. Market Overview

    1.2. Market Analysis

    1.3. FMI Analysis and Recommendations

2. Market Introduction

    2.1. Market Taxonomy

    2.2. Market Definition

    2.3. Market Overview

3. Market View Point

    3.1. Macro-Economic Factors

    3.2. Opportunity Analysis

    3.3. Technological Trends

    3.4. Key Standards

4. Global Market Analysis 2012–2016 and Forecast 2017–2027

    4.1. Introduction

    4.2. Market Size and Y-o-Y Growth

    4.3. Absolute $ Opportunity

5. 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 Impact

13. Forecast Assumptions

14. 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 Limited 

15. 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 Region

16. 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 Component

17. 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 Application

18. Research Methodology

19. Assumption and Acronyms

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