The Increasing Popularity Of Mobile Banking Driving The Growth Of The Market Due To Rising Demand For Convenient And Secure Digital Transactions: Transformative Forces Shaping the Digital Core Banking Solution Market Landscape in 2025

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What Will the Digital Core Banking Solution Industry Market Size Be by 2025?
The market size for digital core banking solutions has seen a rapid expansion in recent years. An increase from $12.18 billion in 2024 to $13.80 billion in 2025 is projected, with a compound annual growth rate (CAGR) being 13.3%. Numerous factors have contributed to this historic growth, including an increased demand for real-time transaction processing, the need to replace legacy systems, the prevalent use of the internet and smartphones, a growing emphasis on reducing costs and augmenting operational efficiency, and heightened expectations from customers in terms of digital services.

What's the Long-Term Growth Forecast for the Digital Core Banking Solution Market Size Through 2029?
Significant expansion is projected in the digital core banking solution market in the coming years, with estimations suggesting a surge to $22.47 billion by 2029 at a compound annual growth rate (CAGR) of 13.0%. This prospective growth over the forecast period can be related to a heightened emphasis on financial inclusion, an escalated trend towards cloud-enabled banking infrastructure, an upswing in demand for tailor-made banking ventures, a surge in fintech collaborations with banking institutions, and an upturn in regulatory impetus for digital transition. Noteworthy emerging trends for the forecast timeframe include the unearthing of sophisticated cloud-native core banking systems, the advent of API-driven modular designs, the breakthrough in AI-empowered customer service initiatives, integration of real-time data analytics for streamlined decision-making processes, and the rise of open banking and fintech alliances.

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What Are the Key Growth Drivers Fueling the Digital Core Banking Solution Market Expansion?
The escalating trend of mobile banking is poised to fuel the expansion of the digital core banking solution market. Mobile banking encompasses the utilization of a mobile gadget, such as a smartphone or tablet, for conducting financial operations and accessing banking services from a distance via a secure application or website. The growing use of mobile banking can be attributed to its accessibility, permitting customers to avail banking services anytime and anywhere with their smartphones. Digital core banking solution aids mobile banking by offering a centralized, real-time infrastructure that facilitates uninterrupted, secure, and round-the-clock access to banking services through mobile devices. For instance, in 2023, as per UK Finance, a trade association based in the UK for the UK banking and financial services sector, total payments in the UK saw a surge of 5% to 48.1 billion, wherein consumers comprised of 85% (41 billion) and businesses covered 15% (7.1 billion). About 38% of all transactions were comprised of contactless payments, with one-third of adults resorting to mobile contactless every month. Cash payments decreased to 6 billion, accounting for only 12% of the total, while faster payments surpassed direct debit, becoming the third most employed payment method, signifying the swing towards swifter, digital transactions. Hence, the escalating trend of mobile banking is accelerating the expansion of the digital core banking solution market.

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What Are the Key Trends Driving Digital Core Banking Solution Market Growth?
Key players in the digital core banking solution market are concentrating their efforts on creating cutting-edge technology solutions, such as artificial intelligence (AI) based banking platforms, with the aim of heightening automation, personalization, and operational efficiency. These AI-based banking platforms are digital infrastructures that leverage AI technology to automate tasks, scrutinise data, and offer personalised banking services in real time. An example of this is in May 2024, when Temenos Headquarters SA, a software firm from Switzerland, introduced responsible generative AI solutions as part of its AI-based banking platform, marking a significant advancement in core banking technology. These solutions foster responsible usage of AI by ensuring transparency, explainability, security, and safe deployment that's custom-made for the banking sector. They allow users to promptly produce insights and reports through natural language queries. With smooth integration with core banking and financial crime systems, these solutions can be implemented on site, in the cloud or via Software as a Service (SaaS). They aid banks in boosting their effectiveness, raising their profitability, and providing ultra-personalised, compliant customer experiences.

How Is the Digital Core Banking Solution Market Segmented?
The digital core banking solution market covered in this report is segmented -

1) By Component: Software, Services
2) By Deployment: On-Premises, Cloud-Based, Hybrid
3) By Solution: Core Banking, Mobile Banking, Internet Banking, Payment Processing, Wealth Management
4) By Functionality: Account Management, Transaction Management, Loan Management, Risk Management, Compliance Management
5) By End-User: Banks, Credit Unions, Other Financial Institutions

Subsegments:
1) By Software: Core Banking Platforms, Digital Banking Platforms, Loan Management Systems, Payment Processing Software, Customer Relationship Management Software
2) By Service: Professional Services, Managed Services, Support And Maintenance Services, Consulting Services, Implementation And Integration Services

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Which Companies Are Leading the Charge in Digital Core Banking Solution Market Innovation?
Major companies operating in the digital core banking solution market are SAP SE, Tata Consultancy Services Limited., Fiserv Inc., Wipro Limited., Fidelity National Information Services Inc., Finastra International Limited., Temenos Headquarters SA, Avaloq Group AG, Backbase B.V., Computer Services Inc., Intellect Design Arena Limited., Ohpen B.V., Mambu GmbH, Asseco Solutions AG, Zenith Software Limited., Profile Systems And Software S.A., EdgeVerve Systems Limited., Velmie LLC, Advapay OU, SDK.FINANCE s.r.o.

Which Regions Are Leading the Global Digital Core Banking Solution Market in Revenue?
North America was the largest region in the digital core banking solution market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital core banking solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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