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Core Banking Software Helping Numerous Banks to Synchronize Front, Mid, And Back-Office Tasks | Market Report, 2030

The global core banking software market size is expected to reach USD 21.61 billion by 2030, registering at a CAGR of 8.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. 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.

Core Banking Software Market Report Highlights

·         In terms of solutions, the enterprise customer solutions segment is expected to witness significant growth over the forecast period. These solutions help banks effectively track and process every customer transaction that occurs at a bank

·         The core banking managed services model offers banks and financial institutions a competitive edge by ensuring high usability, complete functionality, bug-fixing, and timely upgrades. Modern banks need multiple complex systems to run in parallel to effectively ensure uninterrupted service delivery and availability. This is expected to drive the demand for managed services over the forecast period

·         Banks and financial institutions can leverage the power of cloud-based applications. These solutions are deployed and developed as a set of flexible microservices with the help of Platform-as-a-Service (PaaS) tools. These solutions help banks and financial institutions in reducing operational costs, boost performance, and accelerate business growth, thereby driving the adoption of cloud-based solutions

·         The growing need to increase the productivity and operational efficiency of banks is expected to drive the adoption of core banking software across banks over the forecast period. This software enables banking customers to manage their accounts from any part of the world

·         The increasing inclination of banks and other financial institutions toward digital transformation and the rising partnerships between banks and IT businesses in the Asia Pacific region are anticipated to drive the regional market growth over the forecast period

Gain deeper insights on the market and receive your free copy with TOC now @: Core Banking Software Market Report

In recent years, the amount of structured and unstructured data available to banks has increased significantly. With advances in machine learning and cloud computing technologies, Artificial Intelligence (AI) is shaping the prospects of financial and banking services. Moreover, with the data history captured using AI-based solutions, core banks across the globe can make more informed business decisions on various functions, including customer experience, back-office operations, product management, and marketing.

The COVID-19 pandemic adversely affected the growth of the market for core banking software. However, banks across the globe are focusing on adopting time and cost-efficient modes of banking that are capable of reducing their operational expenses and improving customer experience. This is expected to create growth opportunities for the market over the forecast period.

List of Key Players of the Core Banking Software Market

·         Capgemini

·         Finastra

·         FIS

·         Fiserv, Inc.

·         HCL Technologies Limited

·         Infosys Limited

·         Jack Henry & Associates, Inc.

·         Oracle Corporation

·         Temenos Group

·         Unisys

For Any Questions or Inquire please visit @: https://www.grandviewresearch.com/industry-analysis/core-banking-software-market/request/rs5

Core Banking Software Market Segmentation

Grand View Research has segmented the global core banking software market based on solution, service, deployment, end-use, and region:

Core Banking Software Solution Outlook

·         Deposits

·         Loans

·         Enterprise Customer Solutions

·         Others

Core Banking Software Service Outlook

·         Professional Service

·         Managed Service

Core Banking Software Deployment Outlook

·         Cloud

·         On-premise

Core Banking Software End-use Outlook

·         Banks

·         Financial Institutions

·         Others

Core Banking Software Regional Outlook

·         North America

o    U.S.; Canada

·         Europe

o    Germany; U.K.

·         Asia Pacific

o    China; India; Japan

·         Latin America

o    Brazil

·         Middle East & Africa

Research Methodology

Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. We employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs).

For Customized reports or Special Pricing please visit @: https://www.grandviewresearch.com/special-pricing/450836/rfsp2

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.



on August 18 at 3:37

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