Global Core Banking Systems Market: 2024

PUBLISHED: June 10, 2024

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Description

Overview

Our "Core Banking Systems" research report provides in-depth analysis and evaluation of how traditional core banking system vendors are reimaging their approach to banking by building composable and modular solutions, to provide financial institutions with more customised and effective tools. The report evaluates key trends in the banking sector and core banking systems market, alongside the benefits and challenges of adopting modern core banking solutions, such as improved customer experience, improved digital banking services and easier regulatory compliance.

The report also positions 18 vendors across the Juniper Research Competitor Leaderboard for core banking systems; assessed on their products and positioning against their capability and capacity. Collectively, the report provides a critical tool for understanding the core banking software market; allowing core banking providers to shape their future strategy.

SAMPLE VIEW

Competitor Leaderboard PDF Report

A comprehensive analysis of the current market landscape, alongside strategic recommendations, in addition to a visual representation of the competitive positioning of the leaders within the market.

Key Features

Market Dynamics: Insights into key trends and market expansion challenges within the core banking systems market; addressing challenges posed by the fast-evolving shift from legacy systems, increased demand for advanced customer engagement and easier regulatory compliance. It also evaluates the introduction of new technologies within future-proof core banking platforms, such as machine learning, and the potential benefits of adopting next generation core banking applications for community banks, mid-size banks and large financial institutions.

Key Takeaways & Strategic Recommendations: In-depth analysis of key development opportunities and findings within the core banking systems market, accompanied by strategic recommendations for stakeholders, such as leaders in core banking services and financial institutions.

Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 18 core banking systems vendors, via the Juniper Research Competitor Leaderboard, featuring market size for major players in the core banking platform industry.
- 10x Banking
- Avaloq
- Backbase
- Capital Banking Solutions
- EdgeVerve
- Finastra
- FIS
- Mambu
- nCino
- Novatti
- Oracle
- SAP
- SDK.Finance
- Sopra Steria
- Tata Consultancy Services
- Temenos
- Thought Machine
- Tuum

1. Core Banking Systems - Key Takeaways & Strategic Recommendations

1.1. Key Takeaways
1.2. Strategic Recommendations

2. Core Banking Systems - Market Landscape

2.1. Introduction
- 2.1.1. Traditional Core Banking Systems
  - Figure 2.1: Global Number of Digital Banking Users (m), 2024
  - Figure 2.2: Core Banking Systems Infrastructure
2.2. Current Market Landscape
- 2.2.1. The New Generation of Core Banking Systems
  - Figure 2.3: The Evolution of Core Banking Systems
- 2.2.2. Composable Banking
- 2.2.3. Self-built Cores
- 2.2.4. Benefits of Transforming Core Banking Systems
- 2.2.5. Challenges of Transforming Core Banking Systems
2.3. Technologies Accessed via Next-Gen Core Banking Systems
- i. Encryption Algorithms and Digital Certificates
- ii. Salesforce and Microsoft Dynamics for CRM
- iii. Smart Contracts
- iv. Generative AI
2.4. Future Outlook
- 2.4.1. Modularisation & Hybrid Architecture
- 2.4.2. Cloud-based infrastructure
- 2.4.3. Data Analytics
- 2.4.4. Security

3. Competitor Leaderboard

3.1. Why Read This Report
- Key Core Banking Systems Takeaways
- Requirement for Future-proof Core Banking Systems
- Increased Adoption of Composable Banking
  - Table 3.1: Juniper Research Competitor Leaderboard Vendors: Core Banking Systems
  - Figure 3.2: Juniper Research Core Banking System Competitor Leaderboard
  - Table 3.3: Juniper Research Core Banking System Vendors Positioning
  - Table 3.4: Juniper Research Core Banking Systems Competitor Leaderboard Heatmap Results (Part 1 of 2)
  - Table 3.5: Juniper Research Core Banking Systems Competitor Leaderboard Heatmap Results (Part 2 of 2)
3.2. Core Banking Systems Vendor Profiles
- 3.2.1. 10x Banking
  - i. Corporate
    - Table 3.6: 10X Banking's Investment Rounds ($m) 2017-2024
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
    - Figure 3.7: 10x Banking SuperCore Platform Modules and Services
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.2. Avaloq
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.3. Backbase
  - i. Corporate
    - Table 3.8: Backbase's Financial Snapshot ($m), 2021-2023
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.4. Capital Banking Solutions
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
    - Figure 3.9: CapitalBanker Infrastructure
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.5. EdgeVerve
  - i. Corporate
    - Table 3.10: EdgeVerve's Financial Snapshot ($m), 2022-2023
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.6. Finastra
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.7. FIS
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.8. Mambu
  - i. Corporate
    - Table 3.11: Mambu's Investment Rounds ($m), 2011-2021
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
    - Figure 3.12: Mambu's Core Banking Ecosystem
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.9. nCino
  - i. Corporate
    - Table 3.13: nCino's Investment Rounds ($m), 2013-2022
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.10. Novatti
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.11. Oracle
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.12. SAP
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.13. SDK.finance
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.14. Sopra Steria
  - i. Corporate
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.15. Tata Consultancy Services
  - i. Corporate
    - Table 3.14: Tata Consultancy Services' Financial Snapshot ($m), 2021-2023
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.16. Temenos
  - i. Corporate
    - Table 3.15: Temenos' Acquisition History (2007-2019)
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
    - Figure 3.16: Temenos Banking Platform Ecosystem
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.17. Thought Machine
  - i. Corporate
    - Table 3.17: Thought Machine's Investment Rounds ($m) 2018-2022
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
- 3.2.18. Tuum
  - i. Corporate
    - Table 3.18: Tuum Investment Rounds ($m), 2020-2024
  - ii. Geographical Spread
  - iii. Key Clients & Strategic Partnerships
  - iv. High-level View of Offering
  - v. Juniper Research's View: Key Strength & Strategic Development Opportunities
    - Table 3.19: Juniper Research Competitor Leaderboard: Core Banking Systems