[Research Report] The retail core banking systems market is expected to grow from US$ 6,529.83 million in 2021 to US$ 11,410.83 million by 2027. The Retail core banking systems market is expected to grow at a CAGR of 9.5% during the forecast period of 2021 to 2027.
Retail core banking systems are solutions for personal banking or consumer banking that offers banks the ability to serve their customers through digital channels better. These solutions help customers better manage their money by securely transferring and depositing it and accessing credit. The implementation of retail banking system enables low-cost funds for the banks, build a robust base, and maintain efficient customer relation management (CRM), which is expected to propel the demand for retail core banking systems market. Moreover, the increasing demand from customers for net banking and mobile banking is bolstering the market growth. Further, the rising competition from various mobile payment wallets and other fintech is pushing banks to adopt better solutions that could offer easy payment solutions to the customers, which is expected to drive the market's growth.
The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in the year 2020 and likely in 2021 also. However, the BFSI industry is still booming amid the global pandemic due to rise in digital banking. The impact of COVID-19 outbreak on the global retail core banking systems market growth in various countries/regions is described in the below sections. The majority of the consumers have increased usage of their mobile banking app and are using online banking more than before the outbreak.
The vendors operating in the retail core banking systems market are focused on new product launches to maintain their competitive edge. For instance, in October 2020, Temenos AG launched Temenos Transact Data Hub. It is a real-time SaaS (Software-as-a-Service) platform for core banking. Moreover, based on identifying and analyzing multiple market players, the global retail core banking systems market is broadly segmented into offering and deployment. Based on offering, the market is bifurcated into solutions and services. Based on deployment, the market is categorized into on-premise and cloud.
Lucrative Regions in Retail Core Banking Systems Market
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Retail Core Banking Systems Market Insights
Intensifying Competition in Retail Banking Industry
Several non-traditional companies—including retailers, technology providers, or Fintech start-ups have entered into the retail banking market, and they are consumer-oriented, technology-driven, and agile. They are using innovative technologies to offer customers better affordability, superior service, and easier access. These companies emerging as strong competitors for the traditional banks by targeting the most profitable segments of their value chains, such as mobile payments, or by completely eliminating banking operations with the introduction of peer-to-peer (P2P) forex and lending. Although the number of these non-traditional companies is limited at present, a few of them have already captured a considerable portion of the traditional banking business. For instance, WeChatPay, a Chinese instant messaging platform for P2P and online payments, serves over 900 million active users every month. In late 2019, AliPay and WeChat expanded their services to allow foreign tourists to add their international credit cards in the mobile wallet, enabling them to pay easier mobile payments in the country.
Offering -Based Market Insights
The offering segment is bifurcated into solutions and services. Owing to intensifying competition in the retail banking industry, several banks are adopting retail core banking systems to hold their market share and compete with prospective niches in the value chain. Moreover, the rapidly changing customer needs for easy banking operations is pushing organizations to deploy efficient retail core banking systems.
Retail Core Banking Systems Market, by Offering - 2021 and 2027
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Deployment -Based Market Insights
Based on deployment, the APAC retail core banking systems market is segmented into cloud-based and on-premise deployment. The cloud based retail core banking systems is witnessing high demand as compared to on-premise retail core banking systems. The cloud segment generates the majority of the demand since it is comparatively less expensive and due to strong network infrastructure in developed countries. In addition, the cloud-based retail core banking systems vendors are highly focused on developing a high-level security patch in order to eliminate the risk of cyber-attack. This factor is also creating significant demand from the financial institutions, thereby driving the retail core banking systems market.
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Retail Core Banking Systems Market: Strategic Insights
Market Size Value in US$ 6,529.83 Million in 2021 Market Size Value by US$ 11,410.83 Million by 2027 Growth rate CAGR of 9.5% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Retail Core Banking Systems Market: Strategic Insights
| Market Size Value in | US$ 6,529.83 Million in 2021 |
| Market Size Value by | US$ 11,410.83 Million by 2027 |
| Growth rate | CAGR of 9.5% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Players operating in the Retail core banking systems market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the Retail core banking systems market. A few developments by key players of the Retail core banking systems market are:
In October 2020, NEC Acquired Avaloq in $2.2 Billion Deal. NEC will be placing great importance on building long-term relationships with Avaloq and its customers, and focusing to offer new solutions that integrates Avaloq software with NEC's technologies including biometric authentication solutions.
In August 2020, National Bank of Bahrain Appointed Infosys company to Digitally Transform its Transaction Banking Business.
Retail Core Banking Systems Market – by Offering
- Solutions
- Services
Retail Core Banking Systems Market – by Deployment
- Cloud
- On-Premise
Retail Core Banking Systems Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Russia
- UK
- Italy
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
SAM
- Brazil
- Argentina
- Rest of SAM
Retail Core Banking Systems Market – Company Profiles
- Avaloq
- FIS
- Fiserv Inc
- Infosys Ltd
- Intellect Design Arena Ltd
- Oracle Corporation
- SAP SE
- Sopra Steria
- Tata Consultancy Services Limited
- Temenos Headquarters SA
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering and Deployment Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Several non-traditional companies-including retailers, technology providers, or Fintech start-ups have entered into the retail banking market, and they are consumer-oriented, technology-driven, and agile. They are using innovative technologies to offer customers better affordability, superior service, and easier access. These companies emerging as strong competitors for the traditional banks by targeting the most profitable segments of their value chains, such as mobile payments, or by completely eliminating banking operations with the introduction of peer-to-peer (P2P) forex and lending. Although the number of these non-traditional companies is limited at present, a few of them have already captured a considerable portion of the traditional banking business. For instance, WeChatPay, a Chinese instant messaging platform for P2P and online payments, serves over 900 million active users every month. In late 2019, AliPay and WeChat expanded their services to allow foreign tourists to add their international credit cards in the mobile wallet, enabling them to pay easier mobile payments in the country.
The solutions segment comprise of various systems offered by vendors operating in the marketplace, such as ATM technology, check processing, card/payments processing, electronic commerce solutions, customer accounts, and mortgages, among others. Features of core banking solutions include customer on-boarding, transactions management, calculation of interest, management of withdrawals and deposits, loans management and disbursal, accounts management, and CRM activities, among others. These solutions enable banks to gain better customer satisfactions by enabling them to have entire range of their banking products available from any location. Further, accessibility from numerous digital channels, such as web and mobile, is another significant advantage of retail core banking solutions.
Several banks across the APAC region are still using their legacy core banking systems. However, the advent of new technologies such as application programming interfaces (APIs), cloud, and digital banking has resulted in significant shift in partnership preferences of banking institutes with fintechs. Moreover, increasing consumer expectations for real-time transaction processing from banks is resulting in new partnerships between banks and fintech companies. Moreover, the growing preference for private cloud is another significant opportunity for the retail banking software market players. Several players operating in the market are providing banks with innovative, economically priced cloud-ready solutions that compliant with open-banking. The replacement of legacy banking infrastructure with advanced banking systems provides lucrative market opportunities to the market players.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Retail Core Banking Systems Market – By Offering
1.3.2 Retail Core Banking Systems Market – By Deployment
1.3.3 Retail Core Banking Systems Market- By Region
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Retail Core Banking Systems Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East & Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Retail Core Banking Systems Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Customer Demand for Enhanced Banking Services
5.1.2 Intensifying Competition in Retail Banking Industry
5.1.3 Increasing Penetration of Cloud and Mobile Technologies
5.2 Market Restraints
5.2.1 Concerns Related to Cybersecurity
5.2.2 Lack of Awareness and Infrastructure in Developing Countries
5.3 Market Opportunities
5.3.1 Replacement of Legacy Infrastructure with Advanced Core Banking Systems
5.3.2 Growing Integration of Big Data Analytics Technology in Retail Banking
5.4 Future Trends
5.4.1 Retail Payments Systems Leveraging Blockchain Technology
5.4.2 AI to Revolutionize Retail Core Banking Business
5.5 Impact Analysis of Drivers and Restraints
6. Retail Core Banking Systems Market – Global Analysis
6.1 Retail Core Banking Systems Market Global Overview
6.2 Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Global Market Positioning – Five Key Players
6.4 APAC Market Positioning – Five Key Players
7. Retail Core Banking Systems Market Analysis – By Offering
7.1 Overview
7.2 Retail Core Banking Systems Market, By Offering (2019 and 2027)
7.3 Solutions
7.3.1 Overview
7.3.2 Solutions Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Services
7.4.1 Services: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
8. Retail Core Banking Systems Market Revenue and Forecasts to 2027 – Deployment
8.1 Overview
8.2 Retail Core Banking Systems Market, By Deployment (2019 and 2027)
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
8.4 On-Premise
8.4.1 On-Premise: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9. Retail Core Banking Systems Market – Geographic Analysis
9.1 Overview
9.2 North America: Retail Core Banking Systems Market
9.2.1 North America: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.2.2 North America: Retail Core Banking Systems Market, by Offering
9.2.3 North America: Retail Core Banking Systems Market, by Deployment
9.2.4 North America: Retail Core Banking Systems Market, By Country
9.2.4.1 US: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.1.1 US: Retail Core Banking Systems Market, by Offering
9.2.4.1.2 US: Retail Core Banking Systems Market, by Deployment
9.2.4.2 Canada: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.2.1 Canada: Retail Core Banking Systems Market, by Offering
9.2.4.2.2 Canada: Retail Core Banking Systems Market, by Deployment
9.2.4.3 Mexico: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.3.1 Mexico: Retail Core Banking Systems Market, by Offering
9.2.4.3.2 Mexico: Retail Core Banking Systems Market, by Deployment
9.3 Europe: Retail Core Banking Systems Market
9.3.1 Europe: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.3.2 Europe: Retail Core Banking Systems Market, by Offering
9.3.3 Europe: Retail Core Banking Systems Market, by Deployment
9.3.4 Europe: Retail Core Banking Systems Market, By Country
9.3.4.1 Germany: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.1.1 Germany: Retail Core Banking Systems Market, by Offering
9.3.4.1.2 Germany: Retail Core Banking Systems Market, by Deployment
9.3.4.2 UK: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.2.1 UK: Retail Core Banking Systems Market, by Offering
9.3.4.2.2 UK: Retail Core Banking Systems Market, by Deployment
9.3.4.3 France: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.3.1 France: Retail Core Banking Systems Market, by Offering
9.3.4.3.2 France: Retail Core Banking Systems Market, by Deployment
9.3.4.4 Italy: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.4.1 Italy: Retail Core Banking Systems Market, by Offering
9.3.4.4.2 Italy: Retail Core Banking Systems Market, by Deployment
9.3.4.5 Russia: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.5.1 Russia: Retail Core Banking Systems Market, by Offering
9.3.4.5.2 Russia: Retail Core Banking Systems Market, by Deployment
9.3.4.6 Rest of Europe: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.6.1 Rest of Europe: Retail Core Banking Systems Market, by Offering
9.3.4.6.2 Rest of Europe: Retail Core Banking Systems Market, by Deployment
9.4 APAC: Retail Core Banking Systems Market
9.4.1 APAC: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.4.2 APAC: Retail Core Banking Systems Market, by Offering
9.4.3 APAC: Retail Core Banking Systems Market, by Deployment
9.4.4 APAC: Retail Core Banking Systems Market, By Country
9.4.4.1 China: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.1.1 China: Retail Core Banking Systems Market, By Offering
9.4.4.1.2 China: Retail Core Banking Systems Market, By Deployment
9.4.4.2 India: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.2.1 India: Retail Core Banking Systems Market, By Offering
9.4.4.2.2 India: Retail Core Banking Systems Market, By Deployment
9.4.4.3 Japan: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.3.1 Japan: Retail Core Banking Systems Market, By Offering
9.4.4.3.2 Japan: Retail Core Banking Systems Market, By Deployment
9.4.4.4 South Korea: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.4.1 South Korea: Retail Core Banking Systems Market, By Offering
9.4.4.4.2 South Korea: Retail Core Banking Systems Market, By Deployment
9.4.4.5 Australia: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.5.1 Australia: Retail Core Banking Systems Market, By Offering
9.4.4.5.2 Australia: Retail Core Banking Systems Market, By Deployment
9.4.4.6 Rest of APAC: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.6.1 Rest of APAC: Retail Core Banking Systems Market, By Offering
9.4.4.6.2 Rest of APAC: Retail Core Banking Systems Market, By Deployment
9.5 MEA: Retail Core Banking Systems Market
9.5.1 MEA: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.5.2 MEA: Retail Core Banking Systems Market, by Offering
9.5.3 MEA: Retail Core Banking Systems Market, by Deployment
9.5.4 MEA: Retail Core Banking Systems Market, By Country
9.5.4.1 Saudi Arabia: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.1.1 Saudi Arabia: Retail Core Banking Systems Market, by Offering
9.5.4.1.2 Saudi Arabia: Retail Core Banking Systems Market, by Deployment
9.5.4.2 UAE: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.2.1 UAE: Retail Core Banking Systems Market, by Offering
9.5.4.2.2 UAE: Retail Core Banking Systems Market, by Deployment
9.5.4.3 South Africa: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.3.1 South Africa: Retail Core Banking Systems Market, by Offering
9.5.4.3.2 South Africa: Retail Core Banking Systems Market, by Deployment
9.5.4.4 Rest of MEA: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.4.1 Rest of MEA: Retail Core Banking Systems Market, by Offering
9.5.4.4.2 Rest of MEA: Retail Core Banking Systems Market, by Deployment
9.6 SAM: Retail Core Banking Systems Market
9.6.1 SAM: Retail Core Banking Systems Market – Revenue, and Forecast to 2027 (US$ Million)
9.6.2 SAM: Retail Core Banking Systems Market, by Offering
9.6.3 SAM: Retail Core Banking Systems Market, by Deployment
9.6.4 SAM: Retail Core Banking Systems Market, by Key Country
9.6.4.1 Brazil: Retail Core Banking Systems Market – Revenue, and Forecast to 2027 (US$ Million)
9.6.4.1.1 Brazil: Retail Core Banking Systems Market, by Offering
9.6.4.1.2 Brazil: Retail Core Banking Systems Market, by Deployment
9.6.4.2 Argentina: Retail Core Banking Systems Market – Revenue, and Forecast to 2027 (US$ Million)
9.6.4.2.1 Argentina: Retail Core Banking Systems Market, by Offering
9.6.4.2.2 Argentina: Retail Core Banking Systems Market, by Deployment
9.6.4.3 Rest of SAM: Retail Core Banking Systems Market – Revenue, and Forecast to 2027 (US$ Million)
9.6.4.3.1 Rest of SAM: Retail Core Banking Systems Market, by Offering
9.6.4.3.2 Rest of SAM: Retail Core Banking Systems Market, by Deployment
10. Impact of COVID-19 Pandemic on Retail Core Banking Systems Market
10.1 Overview
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East and Africa
10.6 South America
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Key Company Profiles
12.1 Avaloq
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Fiserv, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Infosys Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Oracle Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 SAP SE
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Sopra Steria
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Tata Consultancy Services Limited
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Temenos Headquarters SA
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Intellect Design Arena Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 FIS
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. North America Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 3. North America Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 4. US Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 5. US Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 6. Canada Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 7. Canada Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 8. Mexico Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 9. Mexico Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 10. Europe Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 11. Europe Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 12. Germany Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 13. Germany Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 14. UK Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 15. UK Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 16. France Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 17. France Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 18. Italy Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 19. Italy Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 20. Russia Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 21. Russia Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 22. Rest of Europe Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 23. Rest of Europe Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 24. APAC Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 25. APAC Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 1. China Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 2. China Retail Core Banking Systems Market, By Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 3. India Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 4. India Retail Core Banking Systems Market, By Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 5. Japan Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 6. Japan Retail Core Banking Systems Market, By Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 7. South Korea Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 8. South Korea Retail Core Banking Systems Market, By Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 9. Australia Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 10. Australia Retail Core Banking Systems Market, By Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 11. Rest of APAC Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of APAC Retail Core Banking Systems Market, By Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 13. MEA Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 14. MEA Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 15. Saudi Arabia Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 16. Saudi Arabia Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 17. UAE Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 18. UAE Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 19. South Africa Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 20. South Africa Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 21. Rest of MEA Retail Core Banking Systems Market, by Offering – Revenue and Forecast To 2027 (US$ Million)
Table 22. Rest of MEA Retail Core Banking Systems Market, by Deployment – Revenue and Forecast To 2027 (US$ Million)
Table 23. SAM Retail Core Banking Systems Market, by Offering – Revenue and Forecast to 2027 (US$ Million)
Table 24. SAM Retail Core Banking Systems Market, by Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 25. Brazil Retail Core Banking Systems Market, by Offering – Revenue and Forecast to 2027 (US$ Million)
Table 26. Brazil Retail Core Banking Systems Market, by Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 27. Argentina: Retail Core Banking Systems Market, by Offering – Revenue and Forecast to 2027 (US$ Million)
Table 28. Argentina: Retail Core Banking Systems Market, by Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 29. Rest of SAM: Retail Core Banking Systems Market, by Offering – Revenue and Forecast to 2027 (US$ Million)
Table 30. Rest of SAM: Retail Core Banking Systems Market, by Deployment – Revenue and Forecast to 2027 (US$ Million)
Table 31. List of Abbreviation
LIST OF FIGURES
Figure 1. Retail Core Banking Systems Market Segmentation
Figure 2. Retail Core Banking Systems Market Segmentation – By Geography
Figure 3. Global Retail Core Banking Systems Market Overview
Figure 4. Solutions Segment Held the Largest Market Share
Figure 5. On-Premise Segment Held the Largest Market Share
Figure 6. North America Held the Largest Market Share
Figure 7. North America – PEST Analysis
Figure 8. Europe – PEST Analysis
Figure 9. Asia Pacific – PEST Analysis
Figure 10. Middle East & Africa – PEST Analysis
Figure 11. South America – PEST Analysis
Figure 12. Retail Core Banking Systems Market Ecosystem Analysis
Figure 13. Retail Core Banking Systems Market Expert Opinion
Figure 14. Retail Core Banking Systems Market: Impact Analysis of Drivers And Restraints
Figure 15. Geographic Overview of Retail Core Banking Systems Market
Figure 16. Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Retail Core Banking Systems Market Revenue Share, By Offering (2019 and 2027)
Figure 18. Solutions: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Services: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Retail Core Banking Systems Market Revenue Share, By Deployment (2019 and 2027)
Figure 21. Cloud: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. On-Premise: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Global Retail Core Banking Systems Market Revenue Share, by Region (2019 and 2027)
Figure 24. North America: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. North America Retail Core Banking Systems Market Revenue Share, by Offering (2019 and 2027)
Figure 26. North America Retail Core Banking Systems Market Revenue Share, by Deployment (2019 and 2027)
Figure 27. North America Retail Core Banking Systems Market Revenue Share, By Country (2019 and 2027)
Figure 28. US: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Canada: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Mexico: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Europe: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Europe: Retail Core Banking Systems Market Revenue Share, by Offering (2019 and 2027)
Figure 33. Europe Retail Core Banking Systems Market Revenue Share, by Deployment (2019 and 2027)
Figure 34. Europe Retail Core Banking Systems Market Revenue Share, By Country (2019 and 2027)
Figure 35. Germany: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 36. UK: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. France: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. Italy: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. Russia: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. Rest of Europe: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 41. Asia Pacific Retail Core Banking Systems Market Forecast and Analysis to 2027
Figure 42. APAC: Retail Core Banking Systems Market Revenue Share, by Offering (2019 and 2027)
Figure 43. APAC Retail Core Banking Systems Market Revenue Share, by Deployment (2019 and 2027)
Figure 44. APAC Retail Core Banking Systems Market Revenue Share, By Country (2019 and 2027)
Figure 45. China: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 46. India: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 47. Japan: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 48. South Korea: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 49. Australia: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 50. Rest of APAC: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 51. MEA: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 52. MEA: Retail Core Banking Systems Market Revenue Share, by Offering (2019 and 2027)
Figure 53. MEA Retail Core Banking Systems Market Revenue Share, by Deployment (2019 and 2027)
Figure 54. MEA Retail Core Banking Systems Market Revenue Share, By Country (2019 and 2027)
Figure 55. Saudi Arabia: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 56. UAE: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 57. South Africa: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 58. Rest of MEA: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 59. SAM: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 60. SAM: Retail Core Banking Systems Market Revenue Share, by Offering (2019 and 2027)
Figure 61. SAM: Retail Core Banking Systems Market Revenue Share, by Deployment (2019 and 2027)
Figure 62. SAM: Retail Core Banking Systems Market Revenue Share, by Key Country (2019 and 2027)
Figure 63. Brazil: Retail Core Banking Systems Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 64. Argentina: Retail Core Banking Systems Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 65. Rest of SAM: Retail Core Banking Systems Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 66. Impact of COVID-19 Pandemic in North American Country Markets
Figure 67. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 68. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 69. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 70. Impact of COVID-19 Pandemic in South America Country Markets
The List of Companies - Retail Core Banking System Market
- Avaloq
- Fiserv Inc
- Infosys Ltd
- Oracle Corporation
- SAP SE
- Sopra Steria
- Tata Consultancy Services Limited
- Temenos Headquarters SA
- Intellect Design Arena Ltd
- FIS
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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