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Global Core Banking Solutions Market: By Component: Solution, Service; By Deployment Model: On-Premises, Cloud; By Enterprise Size: Large Enterprises, Others; By Type; By End User; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Core Banking Solutions Market Outlook

The global core banking solutions market attained a value of about USD 11.1 billion in 2020. The market is further expected to grow at a CAGR of 14.56% during the forecast period of 2021-2026 to reach nearly USD 25.1 billion by 2026.

 

Rapid Advancements in Technology to Aid in the Market Growth of Core Banking Solutions

The global market for core banking solutions has been augmented by the rising digitisation of banking services. With advancements in technology, the banking sector is continuously thriving to adopt the latest technology that would aid in streamlining the day-to-day banking services, including fund transfers, deposits, and loans, among others. Core banking solutions help banks and financial institutions to reduce operational and support expenses, provide real-time transaction information, and enable customers to manage bank accounts with multiple branches, which is invigorating the market growth.

 

Global Core Banking Solutions Market

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Furthermore, owing to the elongated periods of lockdown as a result of the coronavirus pandemic, financial services were impelled to adopt remote operation services, which surged the demand for core banking solutions, hence augmenting the industry growth. In addition to this, increasing adoption of core banking technologies to enhance customer experience by providing remote access to various banking services, which is a major factor contributing to the market growth of core banking solutions.

 

Core Banking Solutions: Industry Definition and Segmentation

Core banking solutions can be defined as a digital financial service that involves the processing of banking transactions via a centralised system to ensure uninterrupted workflow by digitally pairing frontend and backend services within a banking structure.

On the basis of component, the market can be categorised into:

  • Solution 
  • Service

The market, based on deployment model, can be divided into:

  • On-Premises
  • Cloud

Based on enterprise size, the market can be segmented into:

  • Large Enterprises
  • Small and Medium Enterprises

On the basis of type, the market can be divided into:

  • Enterprise Customer Solutions
  • Loans
  • Deposits
  • Others

Based on end user, the market segmentations include:

  • Banks
  • Credit Unions and Community Banks
  • Deposits

The EMR report looks into the regional markets of core banking solutions like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

 

Surging Demand for Digital Financial Services to Propel the Market Growth of Core Banking Solutions

The market growth of core banking solutions can be attributed to the dynamic shift in digital technologies. The emergence of advanced software services, such as artificial intelligence (AI), Big Data, and Internet of Things (IoT), among others, are revolutionising the traditional way of business operations, which is augmenting the market growth of core banking solutions. Furthermore, with the rising market penetration of smartphones and the prevalence of e-commerce, the consumer demand for digital banking services like mobile wallets, UPI, and internet banking, are further propelling the market growth of core banking solutions to streamline the customer experience.

 

Cloud-Based Deployment Model to Hold a Significant Share in the Overall Market of Core Banking Solutions

Based on the deployment model, the cloud-based segment of core banking solutions is the fastest revenue-generating segment. A surge in cloud computing technology through software-as-a-service (SaaS) to aid in storing large quantities of customer data and transaction processing is furthering the market growth of core banking solutions. Furthermore, large investments by established and emerging banking and financial institutes to incorporate the latest technologies are significantly contributing to the industry growth. The rising emphasis on boosting productivity by efficiently monitoring transactions and payments using cloud-based services is augmenting the overall market growth of core banking solutions.

 

Key Industry Players in the Global Core Banking Solutions Market

The report presents a detailed analysis of the following key players in the global core banking solutions market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.

  • Capital Banking Solutions
  • EdgeVerve Systems Limited
  • Finastra Limited
  • Fiserv, Inc.
  • Oracle Corporation
  • Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Deployment Model, Enterprise Size, Type, End User, Region
Breakup by Component Solution, Service
Breakup by Deployment Model  On-Premises, Cloud
Breakup by Enterprise Size Large Enterprises, Small and Medium Enterprises
Breakup by Type  Enterprise Customer Solutions, Loans, Deposits, Others
Breakup by End User  Banks, Credit Unions and Community Banks, Deposits
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Capital Banking Solutions, EdgeVerve Systems Limited, Finastra Limited, Fiserv, Inc., Oracle Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Core Banking Solutions Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Core Banking Solutions Historical Market (2016-2020) 
    8.3    Global Core Banking Solutions Market Forecast (2021-2026)
    8.4    Global Core Banking Solutions Market by Component
        8.4.1    Solution
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Service
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Core Banking Solutions Market by Deployment Model 
        8.5.1    On-Premises
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Cloud
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Core Banking Solutions Market by Enterprise Size
        8.6.1    Large Enterprises
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Small and Medium Enterprises
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Core Banking Solutions Market by Type 
        8.7.1    Enterprise Customer Solutions
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Loans
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Deposits
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Others
    8.8    Global Core Banking Solutions Market by End User 
        8.8.1    Banks
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    Credit Unions and Community Banks
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
        8.8.3    Deposits
    8.9    Global Core Banking Solutions Market by Region
        8.9.1    Market Share
            8.9.1.1    North America
            8.9.1.2    Europe
            8.9.1.3    Asia Pacific
            8.9.1.4    Latin America
            8.9.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Capital Banking Solutions
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    EdgeVerve Systems Limited
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Finastra Limited
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Fiserv, Inc.
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Oracle Corporation
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Figures and Tables

1.    Global Core Banking Solutions Market: Key Industry Highlights, 2016 and 2026
2.    Global Core Banking Solutions Historical Market: Breakup by Component (USD Billion), 2016-2020
3.    Global Core Banking Solutions Market Forecast: Breakup by Component (USD Billion), 2021-2026
4.    Global Core Banking Solutions Historical Market: Breakup by Deployment Model (USD Billion), 2016-2020
5.    Global Core Banking Solutions Market Forecast: Breakup by Deployment Model (USD Billion), 2021-2026
6.    Global Core Banking Solutions Historical Market: Breakup by Enterprise Size (USD Billion), 2016-2020
7.    Global Core Banking Solutions Market Forecast: Breakup by Enterprise Size (USD Billion), 2021-2026
8.    Global Core Banking Solutions Historical Market: Breakup by Type (USD Billion), 2016-2020
9.    Global Core Banking Solutions Market Forecast: Breakup by Type (USD Billion), 2021-2026
10.    Global Core Banking Solutions Historical Market: Breakup by End User (USD Billion), 2016-2020
11.    Global Core Banking Solutions Market Forecast: Breakup by End User (USD Billion), 2021-2026
12.    Global Core Banking Solutions Historical Market: Breakup by Region (USD Billion), 2016-2020
13.    Global Core Banking Solutions Market Forecast: Breakup by Region (USD Billion), 2021-2026
14.    North America Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    North America Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Europe Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Europe Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Asia Pacific Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Asia Pacific Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Latin America Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Latin America Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Middle East and Africa Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2016-2020
23.    Middle East and Africa Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2021-2026
24.    Global Core Banking Solutions Market Structure

Key Questions Answered in the Report

The global core banking solutions market attained a value of nearly USD 11.1 billion in 2020.

The market is projected to grow at a CAGR of 14.56% in the forecast period of 2021-2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 25.1 billion by 2026.

The industry is being driven by factors such as increasing advancements in technology in financial services to enhance customer experience and provide centralised control over multiple bank branches.

The market growth for core banking solutions is being propelled by the surging demand for digital banking services, adoption of cloud-computing, and the rising advancement in technology.

The major regional markets for core banking solutions are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

The major components of core banking solutions are solution and service.

On-premises and cloud are the significant deployment models of core banking solutions.

The market segmentations based on enterprise size are large enterprises, and small and medium enterprises.

The different types of core banking solutions are enterprise customer solutions, loans, and deposits, among others.

The significant end users of core banking solutions are banks, credit unions and community banks, and deposits.

The major players in the industry are Capital Banking Solutions, EdgeVerve Systems Limited, Finastra Limited, Fiserv, Inc., and Oracle Corporation, among others.

Analyst Review

The global core banking solutions market attained a value of about USD 11.1 billion, driven by the digitisation of banking sector. Aided by rising adoption of cloud-based core banking solutions, the market is expected to grow at a CAGR of 14.56% in the forecast period of 2021-2026 to reach nearly USD 25.1 billion by 2026.

EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. On the basis of component, the market can be divided into solution and service. Based on deployment model, the market can be divided into on-premises and cloud. Based on enterprise size, the market can be segmented into large enterprises, and small and medium enterprises. On the basis of type, the market can be categorised into enterprise customer solutions, loans, and deposits, among others. The market, on the basis of end user, can be divided into banks, credit unions and community banks, and deposits. The major regional markets for core banking solutions are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. They key players in the industry are Capital Banking Solutions, EdgeVerve Systems Limited, Finastra Limited, Fiserv, Inc., and Oracle Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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