Core Banking Solutions Market 2018- Competitive Landscape, Strategies, Share, Trends, Segmentation a

Core banking is defined as the service delivered by group of networked bank branches to customers, where they can perform all the banking activities that includes money transactions, payments, loans, debts and access their accounts. Core banking is similar to that of retail banking and most of the banks consider retail customers as their core banking customers. Core Banking Solutions Market are adopted by number of banks for easy flow of banking activities, enhanced risk management and are able to monitor the transaction activities from any branch of bank.

The major factors driving the market growth includes customer demand for advanced banking technologies, cost effective solutions, managing customer accounts efficiently so that customer can anytime visit the bank and gain information of their account and increased adoption of it in bank for centralized management. The growing need of operating customer accounts from single server is one of the significant factor driving market growth. There are some restraints which may affect the market growth includes lack of awareness among enterprises of modern banking technologies, no synchronization between core banking solution and global industry expectations.

The core banking solutions market is segmented on the basis of deployment, solution and service. By deployment segment the market consists of cloud and on-premise. Cloud based core banking solution enable users by offering less maintenance and development cost that enables banks to focus more on customers and market. It offers adaptable technology model that provides reduction in usage of IT hardware.

The core banking solutions market is expected to grow approximately at USD 13 Billion by 2023, at approx. 4% of CAGR between 2017 and 2023.

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Key Players:

The prominent players in the core banking solutions market are Infosys Limited (India), HCL Technologies Limited (India), Tata Consultancy Services (India), Capgemini SE (France), Oracle Financial Services Software Limited (India), Temenos Group AG (Switzerland), Fidelity National Information Services Inc. (U.S.), Misys (U.K.), Fiserv, Inc. (U.S.), SAP SE (Germany), among others.

Segments:

Core Banking Solutions market for segment on the basis of deployment, solution and service.

Core Banking Solutions market by Deployment:

• Cloud
• On-Premise

Core Banking Solutions market by Solution:

• Deposits
• Loans
• Enterprise Customer Solutions
• Account Processing Platform
• Others

Core Banking Solutions market by Service:

• Managed service
• Professional service

Regional Analysis:

The regional analysis of core banking solutions market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America region accounts for highest market share in core banking solutions market because of large scale adoption of advanced core banking solution software by prime banks in the region. Small and medium enterprises in the region are also implementing this solution for efficient flow of banking activities. Europe region is one of the prominent players in the market owing to implementation of core banking solutions by banks.

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