Core Banking Solutions Market Trends, Challenges, Opportunities Analysis and Forecast 2021 – 2030

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Core Banking Solutions Market
Rapid change in customer preferences toward
availing banking product lines and increase in
demand for core banking solutions among banks to
improve resilience efficiency of banking
operations are the major trends in the market.
Pramod BorasiResearch Analyst, BFSI at Allied
Market Research
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Core Banking Solutions Market
According to a recent report published by Allied
Market Research, titled, Core banking solutions
Market by Component, Deployment Model, Enterprise
Size, Type, and End User Opportunity Analysis
and Industry Forecast, 2020-2027, the global
core banking solutions industry size was valued
at 9.85 billion in 2019, and is projected to
reach 28.78 billion by 2027, growing at a CAGR
of 14.6 from 2020 to 2027. Core banking
solutions enhance inter-connectivity between
branches of the same bank facilitates
management of loans, deposits, credit processing,
and others. Moreover, errors that occur due to
multiple entries are eradicated, changes are
managed in existing products, and back office
data self-service operations are merged by
using these solutions, which, in turn, boosts the
market growth. Furthermore, it allows branches of
banks to access applications from centralized
data centers on a single platform.
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Core Banking Solutions Market
Factors such as surge in adoption of core banking
technology and numerous benefits provided by core
banking solutions are major factors that drive
growth of the core banking solutions market. In
addition, growth in mergers acquisitions among
banks financial institutions across various
regions and untapped potential of emerging
economies are expected to provide lucrative
opportunities for core banking solution providers
in the upcoming years. The core banking
solutions industry has experienced significant
impact on revenue, owing to imposition of
lockdowns shutdowns, owing to the coronavirus
pandemic. Several banks are changing existing
business operations modernizing with
digitalized offerings in the market. Therefore,
owing to change in consumer behavior rise in
need for banking services, banks financial
institutions across major countries are
implementing secured technologies by adopting
core banking solutions. Therefore, rise in
adoption of advance technologies and increase in
need to provide better customer services result
in significant revenue growth for core banking
solutions providers globally. 
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Core Banking Solutions Market

• Key findings of the study
• By deployment model, the on-premise segment led
  the core banking solutions market size, in terms
  of revenue in 2019.
• By end user, the banks segment accounted for the
  highest market share in 2019.
• By region, North America generated the highest
  revenue in 2019.

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Core Banking Solutions Market

• Major Companies
• Capital Banking Solutions
• EdgeVerve Systems Limited
• Finastra
• FIS
• Fiserv, Inc.
• NCR Corporation
• Oracle
• SAP SE
• Tata Consultancy Services Limited
• Temenos Headquarters SA.

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Core Banking Solutions Market
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