Software As A Service (Saas)-Based Core Banking Software Market: Major Trends Reshaping the Future of the Industry

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Software As A Service (Saas)-Based Core Banking Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of core banking software based on Software as a Service (SaaS) has seen a significant increase in recent times. The market which is set to rise from $11.27 billion in 2024 to $13.92 billion in 2025, with a compound annual growth rate (CAGR) of 23.5%, is attributed to several factors. These include an increased usage of online banking, a surge in mobile channel utilization, heightened customer expectations, intensified market competition, and a rise in cost pressure.

Software As A Service (Saas)-Based Core Banking Software Market Size Forecast: What's the Projected Valuation by 2029?
The market size of core banking software based on software as a service (SaaS) is projected to experience significant growth in the coming years. It's anticipated to elevate to a value of $31.98 billion by 2029, at a compound annual growth rate (CAGR) of 23.1%. The expected growth during the forecast period is attributable to the escalating digital transformation, growing demand for cloud technology, the need for improved operational efficiency, heightened focus on customer experience, and increasing regulatory requirements. The forecast period will witness major trends such as improvements in artificial intelligence-enabled automation, the merging of application program interface-driven banking, advancements in real-time processing enabled by technology, progress in microservices architecture, and technological enhancements in composable banking.

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What Are the Drivers Transforming the Software As A Service (Saas)-Based Core Banking Software Market?
The growing need for cloud models is propelling the market due to their escalating usage among various organizations.

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What Are the Key Trends Driving Software As A Service (Saas)-Based Core Banking Software Market Growth?
Prominent firms active in the software as a service (SaaS)-based core banking software market are prioritizing the development of technological advancements, including cloud-native core banking platforms. These platforms equip financial institutions with scalable, secure, and flexible banking solutions that not only fast-track innovation and enhance customer experience, but also ensure adherence to changing regulatory requirements. A cloud-native core banking platform is a cutting-edge banking software system, specifically created to operate entirely on cloud platforms. For instance, in October 2023, financial technology firm Sopra Banking Software, headquartered in France, launched the SBP Core Platform. It is an innovative, modular, real-time core banking solution, powered by artificial intelligence. The software, based on a SaaS model, enhances security, scalability, efficiency, compliance and customer experience. Crafted for flexibility, the SBP Core Platform provides a broad array of banking services such as deposits, lending, and payments with its modular architecture and sophisticated AI integration, thereby significantly improving operational performance and customer-centric innovation.

Which Segments in the Software As A Service (Saas)-Based Core Banking Software Market Offer the Most Profit Potential?
The software as a service (SAAS)-based core banking software market covered in this report is segmented

1) By Component: Software, Services
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By Banking Type: Large Banks, Midsize Banks, Small Banks, Community Banks, Credit Unions
4) By End-User: Retail Banking, Treasury, Corporate Banking, Wealth Management

Subsegments:
1) By Software: Open Application Programming Interface Banking, Customer Relationship Management Solutions, Enterprise Payment Solutions, Risk And Compliance Management Solutions, Business Intelligence And Analytics Solutions
2) By Services: Professional Services, Managed Services, Consulting Services, Implementation And Integration Services, Support And Maintenance Services

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Which Firms Dominate the Software As A Service (Saas)-Based Core Banking Software Market by Market Share and Revenue in 2025?
Major companies operating in the software as a service (SaaS)-based core banking software market are Oracle Corporation, Fiserv Inc., TEMENOS AG, Q2 Holdings Inc., nCino Inc., MeridianLink Inc., Alkami Technology Inc., Backbase, Mambu B.V., MX Technologies Inc., Thought Machine Group Limited, Finxact LLC, Alacriti Infosystems Private Limited, Hyland Software Inc., Antier Solutions Private Limited, Itexus LLC, Apiture Inc., Advapay OÜ, Dashdevs LLC, and Vine Financial Inc.

Which Regions Offer the Highest Growth Potential in the Software As A Service (Saas)-Based Core Banking Software Market?
North America was the largest region in the software as a service (SaaS)-based core banking software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in software as a service (SaaS)-based core banking software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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