openPR Logo
Press release

Core Banking Software Market Report 2024 | Industry Size, Share, Trends, Companies and Forecast till 2032

01-18-2024 07:16 AM CET | IT, New Media & Software

Press release from: IMARC Group

Core Banking Software Market Report 2024 | Capgemini, Fidelity Information Services Inc., Finastra, Fiserv Inc.

Core Banking Software Market Report 2024 | Capgemini, Fidelity Information Services Inc., Finastra, Fiserv Inc.

IMARC Group has recently released a new research study titled "Core Banking Software Market Report by Solution (Deposits, Loans, Enterprise Customer Solutions, and Others), Service (Professional Service, Managed Service), Deployment (Cloud-based, On-premise), End Use (Banks, Financial Institutions, and Others), and Region 2024-2032", offers a detailed analysis of the global market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the core banking software market?

The global core banking software market size reached US$ 14.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.3 Billion by 2032, exhibiting a growth rate (CAGR) of 12.2% during 2024-2032.

Request to Get the Sample Report: https://www.imarcgroup.com/core-banking-software-market/requestsample

Factors Affecting the Growth of the Core Banking Software Industry:

Digital Transformation in the Banking Sector:

A pivotal factor propelling the core banking software market is the widespread digital transformation within the banking sector. In an era where digital banking has become the norm, financial institutions are under constant pressure to modernize their legacy systems to meet evolving customer expectations for speed, convenience, and accessibility. This digital shift is not just a response to consumer demand but also a strategic move to stay competitive in a market increasingly disrupted by fintech startups and digital-only banks.

Core banking software plays a crucial role in this transformation, offering scalable and flexible solutions that enable banks to streamline operations, launch new products quickly, and provide enhanced digital services. Moreover, the transition to digital banking has been accelerated by the COVID-19 pandemic, which pushed both customers and banks towards more online and mobile banking services, further boosting the demand for sophisticated core banking systems.

Integration of Advanced Technologies:

The integration of advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), blockchain, and cloud computing is another significant driver in the core banking software market. AI and ML are being leveraged to personalize customer experiences, improve decision-making processes, and enhance risk management. Blockchain technology offers potential in areas like transaction security and fraud prevention.

Additionally, the shift towards cloud-based core banking solutions is particularly noteworthy. Cloud computing not only reduces the cost and complexity of banking operations but also provides superior scalability and agility, enabling banks to respond more quickly to market changes and customer needs. These technological advancements are transforming core banking software into more than just a transactional platform; they're turning it into a tool for strategic business transformation.

Regulatory Compliance and Cybersecurity:

In the highly regulated banking industry, compliance with various regulatory standards is crucial. Core banking software helps banks navigate this complex regulatory landscape by ensuring compliance with local and international banking regulations. As cybersecurity threats become more sophisticated, these systems also play a critical role in protecting sensitive financial data. The need for robust security measures in banking operations is driving the demand for advanced core banking software equipped with the latest security protocols to safeguard against data breaches and cyber-attacks.

Explore Full Report Description At: https://www.imarcgroup.com/core-banking-software-market

Core Banking Software Market Report Segmentation:

By Solution:

• Deposits
• Loans
• Enterprise Customer Solutions
• Others

Enterprise Customer Solutions lead the core banking software market as they enable banks to provide personalized and efficient services to customers, enhancing customer engagement and loyalty.

By Service:

• Professional Service
• Managed Service

Professional services dominate the service segment due to the need for expert assistance in implementing, updating, and maintaining complex core banking systems.

By Deployment:

• Cloud-based
• On-premise

On-premise deployment remains the largest in the market because of its perceived reliability and security, especially among traditional banks dealing with sensitive financial data.

By End User:

• Banks
• Financial Institutions
• Others

Banks constitute the largest end-user segment for core banking software, as these solutions are fundamental to their operations, streamlining processes like account management, transaction processing, and compliance.

By Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Ask An Analyst: https://www.imarcgroup.com/request?type=report&id=3649&flag=C

Global Core Banking Software Market Trends:

The significant shift towards cloud-based solutions represents one of the key factors driving the growth of the core banking software market across the globe. Banks and financial institutions are increasingly adopting cloud technology for its scalability, cost-effectiveness, and flexibility, allowing for more agile and efficient banking operations. The integration of advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) is gaining momentum. These technologies enhance customer service through personalized banking experiences and improve risk management and compliance through predictive analytics.

Additionally, the need for enhanced security and compliance measures is driving advancements in cybersecurity within core banking solutions, ensuring the protection of sensitive financial data against escalating cyber threats.

Competitive Landscape:

The competitive landscape of the core banking software market has been studied in the report with the detailed profiles of the key players operating in the market.

• Capgemini
• Fidelity Information Services Inc.
• Finastra
• Fiserv Inc.
• HCL Technologies Limited
• Infosys Limited
• Jack Henry & Associates Inc.
• Oracle Corporation
• SAP SE
• Tata Consultancy Services Limited
• Temenos AG
• Unisys Corporation

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

About Us                                    

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Core Banking Software Market Report 2024 | Industry Size, Share, Trends, Companies and Forecast till 2032 here

News-ID: 3354735 • Views:

More Releases from IMARC Group

India Seafood Market Outlook 2025-2033: Key Trends, Size, Share and Growth Insights
India Seafood Market Outlook 2025-2033: Key Trends, Size, Share and Growth Insig …
As indicated in the latest market research report published by IMARC Group, titled "India Seafood Market Report by Type (Fish, Shrimps, Others), Form (Fresh/Chilled, Frozen/Canned, Processed), Distribution Channel (Off Trade, On Trade), and Region 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market. Market Size & Future Growth Potential: The India seafood
India Mutual Funds Market: Size, Share, Trends, Growth and Industry Outlook 2025-2033
India Mutual Funds Market: Size, Share, Trends, Growth and Industry Outlook 2025 …
Mutual Funds Market in India 2025: Base Year: 2024 Historical Years: 2019-2024 Forecast Years: 2025-2033 Market Size in 2024: USD 2.50 Billion Market Size in 2033: USD 5.90 Billion Market Growth Rate (CAGR) 2025-2033: 10.03% How Big is the India Mutual Funds Industry? The India mutual funds market size reached USD 2.50 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.90 Billion by 2033, exhibiting a growth rate (CAGR) of 10.03% during 2025-2033. Request
Dimethyl Ether Market Valuation to Reach USD 15.73 Billion by 2033 - Industry Expanding at a CAGR of 8.09%
Dimethyl Ether Market Valuation to Reach USD 15.73 Billion by 2033 - Industry Ex …
Market Overview: The dimethyl ether market is experiencing significant growth momentum, driven by increasing demand for cleaner fuel alternatives, expanding applications in various industries, and supportive government policies promoting sustainable energy solutions. According to IMARC Group's latest research publication, "Dimethyl Ether Market Size, Share, Trends and Forecast by Raw Material, Application, End-Use Industry, and Region, 2025-2033", the global dimethyl ether market size reached USD 7.22 Billion in 2024. Looking forward, IMARC
Glucometer Manufacturing Plant Report 2025: Unit Setup, Cost and Requirements, Project Economics
Glucometer Manufacturing Plant Report 2025: Unit Setup, Cost and Requirements, P …
Setting up a glucometer manufacturing plant requires thorough market research alongside a minute understanding of numerous operating factors such as unit processes, purchasing of raw materials, utility supply, infrastructure creation, equipment and technology specifications, human resource planning, logistics, and cash outlay. IMARC Group's report titled "Glucometer Manufacturing Plant Cost Analysis Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a

All 5 Releases


More Releases for Core

Overcoming Transmission Capacity Limitations: Multi-core Fiber and Hollow-core F …
As transmission capacity demand grows in communication networks, the capacity of traditional single-mode fiber (SMF) has reached the Shannon limit, around 100 Tbit/s. This limit is mainly determined by signal-to-noise ratio (SNR) and bandwidth. Although advanced coding techniques can help to push the boundaries further, the physical constraints of SMF are ultimately unavoidable. Solid-core optical fibers are increasingly unable to meet the needs for low-latency services, have severe nonlinearity, and
2023-2029: Cold Core Process Core Shooter Market Trend And Analysis
Global Info Research's report offers key insights into the recent developments in the global Cold Core Process Core Shooter market that would help strategic decisions. It also provides a complete analysis of the market size, share, and potential growth prospects. Additionally, an overview of recent major trends, technological advancements, and innovations within the market are also included.Our report further provides readers with comprehensive insights and actionable analysis on the
Composite Core Mastery: Unleashing the Potential of Advanced Core Materials in C …
Core Material for Composites Market 2023 Forecast: Unveiling Opportunities and Growth Core Material for Composites Market research report helps to recognize the market challenges and opportunities. Global Core Material for Composites Market report contains the recent forecast research for the predicted period. The report extensively offers the latest information about the technological developments and market growth prospect on the basis of the regional landscape. This Report offers a complete evaluation of
Vital Flex Core Review: Is Vital Flex Core Legit Or Fake? Read United States & C …
In the pursuit of a flat belly and a toned figure, individuals are constantly on the lookout for innovative fitness solutions. Thanks to advancements in technology, the fitness and weight reduction industries have witnessed the rise of groundbreaking devices like the Vital Flex Core. This remarkable gadget, currently trending in the United States and Canada, is revolutionizing the way people achieve their fitness goals through its cutting-edge electrical muscle stimulation
Application Processor Market Future Outlook 2023-2029, Industry Demand, Trends, …
Application Processor Market is segmented by Type, by region, by profile, and by Application. This Report holds market analysis, growth, slopes, forecast, and complete strategies in the future. It also guides with planned and organized choices that include the necessary information to perform PEST, SWOT, and STEER analysis. Moreover, the Application Processor Market report analyses the vital performance and operational metrics so that you can plan robust business strategies. Along
Balsa Core Core Composites Market: Competitive Dynamics & Global Outlook 2020-20 …
Global Info Research offers a latest published report on Balsa Core Core Composites Analysis and Forecast 2020-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. This report focuses on the key global Balsa Core Core Composites Concentrate players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years. Click to view the full report