Core Banking Software Market Insight and Trends 2030

The global core banking software market size was valued at USD 10.31 billion in 2021, and is predicted to be worth around USD 22.61 billion by 2030, registering a CAGR of 8.8% during the forecast period 2022 to 2030.

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Growth Factors

The market growth can be attributed to the surge in the adoption of core banking technology across banks and financial institutions globally. This technology is helping numerous banks across the globe synchronize their front, mid, and back-office tasks.

Core banking software offers a comprehensive suite of capabilities to power the digital transformation of financial institutes. Numerous banks across the globe are adopting core banking solutions to gain a comprehensive set of capabilities, including extensive parameterization, flexible product factories, reusable business components, and product bundling. These capabilities are helping banks achieve innovation-led growth.

The growth can be attributed to the increasing customer demand for advanced banking technologies. Moreover, the increasing demand for a digital banking experience from Gen Z and millennials is transforming how the banking industry operates. The increasing consumer demand to access banking services from digital channels has led to a surge in advanced banking technologies. These factors are expected to drive the growth prospects of the market over the forecast period.

Report Coverage

Report Scope Details
Market Size US$ 22.61 billion by 2030
Growth Rate CAGR of 8.8% From 2022 to 2030
Largest Market Asia Pacific
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Solution, Service, Deployment, End-use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Capgemini; Finastra; FIS; Fiserv, Inc.; HCL Technologies Limited; Infosys Limited; Jack Henry & Associates, Inc.; Oracle Corporation; Temenos Group; Unisys

By Solution Analysis

The enterprise customer solutions segment dominated the market in 2021 and accounted for more than 47.0% share of the global revenue. Enterprise customer solutions seamlessly integrate with CRM and ERP systems and administrate management tools and customer information through the central database of a bank.

Core banking solutions allow inter-connectivity between branches of the same financial institution and bank and facilitate the management of loan, deposit, and credit processing. These solutions are integrated with a back-end system, which efficiently processes various banking transactions across the multiple branches of a bank.

By Service Analysis

The professional service segment dominated the market in 2021 and accounted for more than a 76.0% share of the global revenue. Banks across the globe are focusing on adopting open-system architecture and platform-independent and cutting-edge technology.

Maintaining a full-time IT department can be expensive, inefficient, and time-consuming for small- to medium-sized businesses. Professional service providers offer on-demand support and resources at affordable IT service costs to small and medium enterprises, thereby fueling the segment growth.

The managed service segment is anticipated to register the highest growth over the forecast period. Banks and financial institutions across the globe are focusing on integrating their systems using APIs to reduce upgrade and maintenance costs, thereby creating growth opportunities for managed services segment.

By Deployment Analysis

The on-premise segment dominated the market in 2021 and accounted for more than 60.0% share of the global revenue. When building an on-premise system, businesses assume the full responsibility of integration and any IT-related and security issues.

The cloud segment is anticipated to register the highest growth over the forecast period. Financial institutions and banks with on-premise infrastructure are focusing on adopting cloud-based solutions to compete against more innovative digital opponents.

By End-use Analysis

The banks segment dominated the market in 2021 and accounted for more than 56.0% share of the global revenue. The growth of the segment can be attributed to the vast advancements in information technology and the growing network of the internet across the globe.

The core banking software is installed at multiple bank branches and then interconnected by computer networks based on satellite, telephones, and the internet. Benefits offered by core banking solutions, including increased efficiency and accessibility, reduced additional costs, and increased system flexibility, are expected to drive their adoption across banks.

Network technology and core banking solutions allow banks to centralize record-keeping and permit access from any location. Numerous banks across the globe are focusing on implementing custom applications for core banking. The financial institutions segment is expected to witness significant growth over the forecast period.

By Regional Analysis

North America dominated the market for core banking software in 2021 and accounted for over 28.0% share of global revenue. The large-scale adoption of advanced core banking software by leading banks in the region is expected to fuel the growth of the regional market.

Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. Market growth in Asia Pacific is likely to be primarily driven by the increasing adoption of mobile and web-based business applications in the banking sector.

Key Players

  • Capgemini
  • Finastra
  • FIS
  • Fiserv, Inc.
  • HCL Technologies Limited
  • Infosys Limited
  • Jack Henry & Associates, Inc.
  • Oracle Corporation
  • Temenos Group
  • Unisys

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Market Segmentation

  • By Solution
    • Deposits
    • Loans
    • Enterprise Customer Solutions
    • Others
  • By Service
    • Professional Service
    • Managed Service
  • By Deployment
    • Cloud
    • On-premise
  • End-use
    • Banks
    • Financial Institutions
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
    • Middle East & Africa

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Deployment Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Core Banking Software Market, By Solution

7.1.  Core Banking Software Market, by Solution, 2021-2030

7.1.1.    Deposits

7.1.1.1.        Market Revenue and Forecast (2019-2030)

7.1.2.    Loans

7.1.2.1.        Market Revenue and Forecast (2019-2030)

7.1.3.    Enterprise Customer Solutions

7.1.3.1.        Market Revenue and Forecast (2019-2030)

Chapter 8.  Global Core Banking Software Market, By Services

8.1.  Core Banking Software Market, by Services, 2021-2030

8.1.1.    Professional Service

8.1.1.1.        Market Revenue and Forecast (2019-2030)

8.1.2.    Managed Service

8.1.2.1.        Market Revenue and Forecast (2019-2030)

Chapter 9.  Global Core Banking Software Market, By Deployment

9.1.  Core Banking Software Market, by Deployment, 2021-2030

9.1.1.    Cloud

9.1.1.1.        Market Revenue and Forecast (2019-2030)

9.1.2.    On-premise

9.1.2.1.        Market Revenue and Forecast (2019-2030)

Chapter 10.      Global Core Banking Software Market, By End-use

10.1.        Core Banking Software Market, by End-use, 2021-2030

10.1.1.  Banks

10.1.1.1.      Market Revenue and Forecast (2019-2030)

10.1.2.  Financial Institutions

10.1.2.1.      Market Revenue and Forecast (2019-2030)

Chapter 11.      Global Core Banking Software Market, Regional Estimates and Trend Forecast

11.1.        North America

11.1.1.  Market Revenue and Forecast, by Solution (2019-2030)

11.1.2.  Market Revenue and Forecast, by Services (2019-2030)

11.1.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.1.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.1.5.  U.S.

11.1.5.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.1.5.2.      Market Revenue and Forecast, by Services (2019-2030)

11.1.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.1.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.1.6.  Rest of North America

11.1.6.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.1.6.2.      Market Revenue and Forecast, by Services (2019-2030)

11.1.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.1.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.2.        Europe

11.2.1.  Market Revenue and Forecast, by Solution (2019-2030)

11.2.2.  Market Revenue and Forecast, by Services (2019-2030)

11.2.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.2.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.2.5.  UK

11.2.5.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.2.5.2.      Market Revenue and Forecast, by Services (2019-2030)

11.2.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.2.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.2.6.  Germany

11.2.6.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.2.6.2.      Market Revenue and Forecast, by Services (2019-2030)

11.2.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.2.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.2.7.  France

11.2.7.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.2.7.2.      Market Revenue and Forecast, by Services (2019-2030)

11.2.7.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.2.7.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.2.8.  Rest of Europe

11.2.8.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.2.8.2.      Market Revenue and Forecast, by Services (2019-2030)

11.2.8.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.2.8.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.3.        APAC

11.3.1.  Market Revenue and Forecast, by Solution (2019-2030)

11.3.2.  Market Revenue and Forecast, by Services (2019-2030)

11.3.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.3.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.3.5.  India

11.3.5.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.3.5.2.      Market Revenue and Forecast, by Services (2019-2030)

11.3.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.3.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.3.6.  China

11.3.6.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.3.6.2.      Market Revenue and Forecast, by Services (2019-2030)

11.3.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.3.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.3.7.  Japan

11.3.7.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.3.7.2.      Market Revenue and Forecast, by Services (2019-2030)

11.3.7.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.3.7.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.3.8.  Rest of APAC

11.3.8.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.3.8.2.      Market Revenue and Forecast, by Services (2019-2030)

11.3.8.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.3.8.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.4.        MEA

11.4.1.  Market Revenue and Forecast, by Solution (2019-2030)

11.4.2.  Market Revenue and Forecast, by Services (2019-2030)

11.4.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.4.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.4.5.  GCC

11.4.5.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.4.5.2.      Market Revenue and Forecast, by Services (2019-2030)

11.4.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.4.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.4.6.  North Africa

11.4.6.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.4.6.2.      Market Revenue and Forecast, by Services (2019-2030)

11.4.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.4.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.4.7.  South Africa

11.4.7.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.4.7.2.      Market Revenue and Forecast, by Services (2019-2030)

11.4.7.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.4.7.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.4.8.  Rest of MEA

11.4.8.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.4.8.2.      Market Revenue and Forecast, by Services (2019-2030)

11.4.8.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.4.8.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.5.        Latin America

11.5.1.  Market Revenue and Forecast, by Solution (2019-2030)

11.5.2.  Market Revenue and Forecast, by Services (2019-2030)

11.5.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.5.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.5.5.  Brazil

11.5.5.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.5.5.2.      Market Revenue and Forecast, by Services (2019-2030)

11.5.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.5.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.5.6.  Rest of LATAM

11.5.6.1.      Market Revenue and Forecast, by Solution (2019-2030)

11.5.6.2.      Market Revenue and Forecast, by Services (2019-2030)

11.5.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.5.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

Chapter 12.  Company Profiles

12.1.              Capgemini

12.1.1.  Company Overview

12.1.2.  Solution Offerings

12.1.3.  Financial Performance

12.1.4.  Recent Initiatives

12.2.              Finastra

12.2.1.  Company Overview

12.2.2.  Solution Offerings

12.2.3.  Financial Performance

12.2.4.  Recent Initiatives

12.3.              FIS

12.3.1.  Company Overview

12.3.2.  Solution Offerings

12.3.3.  Financial Performance

12.3.4.  Recent Initiatives

12.4.              Fiserv, Inc.

12.4.1.  Company Overview

12.4.2.  Solution Offerings

12.4.3.  Financial Performance

12.4.4.  Recent Initiatives

12.5.              HCL Technologies Limited

12.5.1.  Company Overview

12.5.2.  Solution Offerings

12.5.3.  Financial Performance

12.5.4.  Recent Initiatives

12.6.              Infosys Limited

12.6.1.  Company Overview

12.6.2.  Solution Offerings

12.6.3.  Financial Performance

12.6.4.  Recent Initiatives

12.7.              Jack Henry & Associates, Inc.

12.7.1.  Company Overview

12.7.2.  Solution Offerings

12.7.3.  Financial Performance

12.7.4.  Recent Initiatives

12.8.              Oracle Corporation

12.8.1.  Company Overview

12.8.2.  Solution Offerings

12.8.3.  Financial Performance

12.8.4.  Recent Initiatives

12.9.              Temenos Group

12.9.1.  Company Overview

12.9.2.  Solution Offerings

12.9.3.  Financial Performance

12.9.4.  Recent Initiatives

12.10.           Unisys

12.10.1.               Company Overview

12.10.2.               Solution Offerings

12.10.3.               Financial Performance

12.10.4.               Recent Initiatives

12.11.           Company 11

12.11.1.               Company Overview

12.11.2.               Solution Offerings

12.11.3.               Financial Performance

12.11.4.               Recent Initiatives

Chapter 13.  Research Methodology

13.1.              Primary Research

13.2.              Secondary Research

13.3.              Assumptions

Chapter 14.  Appendix

14.1.              About Us

14.2.              Glossary of Terms

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