Artificial Intelligence
Core Banking Software Market to Surge at 18.0% CAGR till 2028; Improving Access to Formal Banking Systems in Emerging Economies to Boost the Market: Fortune Business Insights™
Pune, India, Oct. 28, 2021 (GLOBE NEWSWIRE) — The global core banking software market size is projected to reach USD 34.48 billion by 2028, exhibiting a CAGR of 18.0% during the forecast period. The growing presence of fintech startups in the banking industry will be one of the primary accelerators for this market, postulates Fortune Business Insights™ in its report, titled “Core Banking Software Market, 2021-2028”. In 2020, the value of the market stood at USD 9.40 billion.
The banking sector in most countries is getting speedily digitized, stoking the need for innovative technology-based solutions to facilitate smooth banking services. These emerging needs have led to the spawning startups specializing in financial technologies. For example, Germany-based solarisBank is a startup that offers a banking-as-a-service platform that enables businesses to extend clean financial services to their end customers. The company also holds a full-fledged banking license within Germany. Another example is Thought Machine, a startup based in London that provides VaultOS, its core banking software platform. Since 2016, the company has entered into high-profile partnerships with Lloyds Banking Group, Atom Bank, and IBM. The steadily expanding operations of these entities are widening the scope of this market in a promising manner.
To get to know more about the short-term and long-term impact of COVID-19 on this Core Banking Software Market
Please visit: https://www.fortunebusinessinsights.com/core-banking-software-market-104392
List of Key Players Profiled in Core Banking Software Market Report
- C-Edge Technologies Ltd. (Mumbai, India)
- VSoft Technologies Pvt. Ltd. (Telangana, India)
- Jack Henry & Associates, Inc. (Missouri, United States)
- Temenos AG (Geneva, Switzerland)
- Wipro Limited (Bengaluru, India)
- NCR Corporation (Georgia, United States)
- HCL Technologies Limited (Noida, India)
- Tata Consultancy Services Limited (Mumbai, India)
- Microsoft Corporation (Washington, United States)
- International Business Machines Corporation (IBM) (New York, United States)
- Alphabet Inc. (Google LLC) (California, United States)
- Computer Services, Inc. (CSI) (Kentucky, United States)
- Unisys Corporation (Pennsylvania, United States)
- Fidelity National Information Services, Inc. (FIS) (Florida, United States)
- Fiserv, Inc. (Wisconsin, United States)
- Finastra (London, United Kingdom)
- Intellicus Technologies (California, United States)
- Capgemini SE (Paris, France)
- Infosys Limited (Bengaluru, India)
- Oracle Corporation (California, United States)
- SAP SE (Walldorf, Germany)
Core Banking Software Market Share Report Scope and segmentation:
Report Coverage | Details |
Forecast Period | 2021 to 2028 |
Forecast Period 2021 to 2028 CAGR | 18.0% |
2027 Value Projection | USD 34.48 Billion |
Base Year | 2019 |
Market Size in 2020 | USD 10.84 Billion |
Historical Data for | 2017 to 2019 |
No. of Pages | 140 |
Segments covered | Deployment; Banking Type; End-user and Region |
Growth Drivers | North America Generates USD 4.26 Billion in Revenue; Asia Pacific to Exhibit Fastest Growth |
Increasing Adoption of Virtual Tools by Banks amid COVID-19 to Fuel Market Growth | |
Pitfalls & Challenges |
Information Security and Privacy Concerns Associated with Banking System May Hinder Growth |
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/customization/core-banking-software-market-104392
Regional Insights
North America Generates USD 4.26 Billion in Revenue; Asia Pacific to Exhibit Fastest Growth
North America is expected to lead the core banking software market share during the forecast period owing to the release of advanced virtual banking solutions by key players in the regions. For example, Fidelity National Information Services (FIS) launched ClearEdge, its core banking solution for community banks, in August 2020.
In Asia Pacific, the market for core banking software is set to gain larger ground on account of the rapidly expanding formal banking sector in the region’s growing economies of India, China, and Vietnam. On the other hand, the Europe market is anticipated to showcase steady growth due to the strong presence of global fin-tech companies in the region.
Driving Factor
Increasing Adoption of Virtual Tools by Banks amid COVID-19 to Fuel Market Growth
The outbreak of the COVID-19 pandemic has been a blessing in disguise for the core banking software market growth, with the market registering growth of 15.1% in 2020 and reaching a value of USD 10.84 billion in 2021, as banks around the globe are rapidly transforming their processes through virtual technologies. For example, in April 2020, TSB, the British commercial bank, introduced a Smart Agent application on its website to ensure immediate access to customers to the various steps taken by the bank amid the coronavirus pandemic. Moreover, to provide employees secure remote access to bank data, some banks have installed systems to simplify work from home. For example, in the US, in March 2020, New Orleans-based Gulf Coast Bank allowed its employees to access VPNs to ensure enhanced security while working from home or while working from personal devices. Thus, digitization trends in the banking industry have accelerated due to the coronavirus and with countries grappling with the second and third waves of the contagion, these trends are likely to get an additional push and boost the uptake of core banking software.
Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/core-banking-software-market-104392
Highlights of the Report
The Core Banking Software Market report contains valuable insights into the market drivers, trends, opportunities, and hindrances and supplies a detailed study of all market segments, individually and collectively. Furthermore, the report also offers a comprehensive analysis of the regional dynamics influencing market growth and provides a microscopic evaluation of the key players’ profiles and growth strategies.
Segmentation
On the basis of deployment, the market is bifurcated into SaaS/hosted and licensed.
Based on banking type, this market has been segregated into large banks, midsize banks, small banks, community banks, and credit unions. The large banks segment held a dominant share of 34.3% in 2020 in the global and a share of 35.8% in the US market in 2020.
By end-user, the Core Banking Software Market has been categorized into retail banking, treasury, corporate banking, and wealth management.
In terms of geography, the global market has been divided into North America, Asia Pacific, Europe, the Middle East & Africa, and South America.
Competitive Landscape
Operational Expansion in Profitable Regions to be the Focal Area for Key Players
With the demand for efficient core banking software and solutions surging worldwide, key players in this market are identifying regions where their investments will bring maximum returns. These regions usually comprise countries where the digitization of banking services and networks is simplified due to low populations. The introduction of virtual banking solutions in such countries is enabling companies to secure a firm foothold in the global market.
Industry Development
- December 2020: Larsen & Toubro Infotech (LTI) collaborated with the banking software specialist, Temenos, to roll out the Digital Banking Platform in Nordic countries. The idea behind the launch is to modernize core banking systems in these countries and make financial institutions more agile and scalable.
Quick Buy – Core Banking Software Market Report: https://www.fortunebusinessinsights.com/checkout-page/104392
Table Of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Core Banking Software Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Core Banking Software Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled (Covered for key 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/core-banking-software-market-104392
Have a Look at Related Research Insights:
Artificial Intelligence (AI) Chipsets Market Size, Share & COVID-19 Impact Analysis, By Chipset Type (Graphics Processing Unit (GPU), Field Programmable Gate Arrays (FPGAs)), By Application (Natural Language Processing (NLP), Robotic Process Automation (RPA), Machine Learning), By Computing Technology (Cloud Computing and Edge Computing), By Function (Training and Inference), By Industry and Regional Forecast, 2020-2027
Payment Processing Solutions Market Size, Share & COVID-19 Impact Analysis, By Payment Method (Debit Card, Credit Card, e-Wallet, Automated Clearing House (ACH), and Others), By Industry Vertical (Banking, Financial Services and Insurance (BFSI), Manufacturing, IT and Telecommunications, Travel and Hospitality, Retail and Consumer Goods, Healthcare, Transportation and Logistics, and Others), and Regional Forecast, 2020-2027
Adaptive Learning Software Market Size, Share & COVID-19 Impact Analysis, By Deployment (On Premise, Cloud), By End User (K-12, Higher Education, Corporate), and Regional Forecast, 2020-2027
Virtual Meeting Software (3D Virtual Event) Market Size, Share & COVID-19 Impact Analysis, By Type (VR Headset, Without VR Headset), By Function (Virtual Event, Video Conferencing, Mobile Event App, Event Management, Lead Retrieval, Attendee Management, Gamification, and Others), By Deployment (On-premises and Cloud), By Enterprises Size (Small & Medium Enterprises and Large Enterprises), By Industry and Regional Forecast, 2020-2027
Web Conferencing Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Hosted Web Conferencing, On-Premises Web Conferencing, Managed Web Conferencing and Software-as-a-Service (SaaS)), By End-use (Education, Government, Healthcare, IT and Telecommunication, BFSI, Manufacturing, Media & Entertainment, and Others), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Read Press Release https://www.fortunebusinessinsights.com/press-release/global-core-banking-software-market-10411
Artificial Intelligence
LTA’s Padel Programme Teams Up with Skylab for Enhanced Performance Analytics
MANCHESTER, England, April 17, 2024 /PRNewswire/ — Skylab, a UK-based specialist in sports technology and performance analysis, proudly announces its partnership with LTA Padel, solidifying its position as a premier provider of specialised services in the sports industry. This collaboration underscores Skylab’s commitment to excellence and showcases its ability to deliver innovative and diverse solutions tailored specifically for elite sports organisations like LTA Padel.
The LTA’s Padel performance programme in Great Britain will utilise Skylab’s Game Intelligence product and Performance Analysis services. The software will empower athletes and coaches alike with interactive and detailed match data, seamlessly integrated into intuitive dashboards that create automated video playlists. The Padel team at the LTA will gain a deeper understanding of padel at the elite level to support their talent identification, player pathway and coaching strategies as they strive to compete with the world’s best.
“Previously, Padel players lacked accurate and robust performance data, which made it impossible to analyse the opposition in detail. Coaches couldn’t answer their players’ key performance questions quickly, and performance directors had to rely on gut feeling and experience when evidencing what elite Padel looks like. However, our product and services provide practitioners with insights into the technical and tactical aspects of the game, as well as the physical demands required for elite-level performance. This allows practitioners to understand and predict the future performance of their players, enabling them to make data-informed decisions” says Ciaran Skinner, Business Development Manager, Skylab.
Skylab is a first-of-its-kind sports technology firm, offering tailored, market-leading Performance Analysis services and bespoke web platforms to elite sporting clients. It revolutionises how elite sports teams and individuals interact, use, and visualise their data. By packaging performance analysis with industry leading UX and bespoke software, partners will be in the position to make better decisions in sport.
For more information about Skylab and its services, please visit skylab.com or contact [email protected]
Notes
Website: www.skylab.com
https://skylab.com/padel-performance-insights/
Social:
LinkedIn – Skylab: https://www.linkedin.com/company/studio-skylab
LinkedIn – Skylab: Elite Performance Analysis: www.linkedin.com/company/skylab-epa/
About Skylab
Skylab is a first-of-its-kind sports technology firm, offering tailored, market-leading Performance Analysis services and bespoke web platforms to elite sporting clients. It revolutionises how elite sports teams and individuals interact, use, and visualise their data. By packaging performance analysis with industry leading UX and bespoke software, partners will be in the position to make better decisions in sport. Current clients include elite teams and organisations across Padel, Football, Athletics, Tennis, Rowing and more.
Photo – https://mma.prnewswire.com/media/2388380/skylab_sports_technology_performance_analysis.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ltas-padel-programme-teams-up-with-skylab-for-enhanced-performance-analytics-302119847.html
Artificial Intelligence
Unisys Digital Workplace Solutions Receives HDI’s IT Support Center Recertification, Recognizing Continued Excellence in IT Support
Certification highlights the company’s ongoing optimization of IT support and recognizes Unisys as the only globally certified managed service provider
BLUE BELL, Pa., April 17, 2024 /PRNewswire/ — Unisys (NYSE: UIS) has achieved recertification through HDI’s IT Support Center Certification program, demonstrating the company’s commitment to exceeding IT support expectations and achieving biannual recertification. HDI is the leading organization dedicated to elevating technical support and service management across enterprises.
HDI’s Support Center Certification is based on an internationally recognized standard for best practices in IT support and global validation of organizations with support divisions that operate efficiently and effectively, ultimately leading to increased customer satisfaction and retention. The audit demonstrated that Unisys provides world-class desk services to its clients and that Unisys customer experience measures are significantly more advanced than those of most organizations.
“I congratulate the entire Unisys team on achieving HDI Support Center Certification for their Global Service Desk,” said Tara Gibb, senior director, HDI. “As an HDI-Certified Support Center, Unisys Global Service Desk is part of an elite circle of support centers dedicated to quality operations, continuous improvement, strategic vision, a positive work environment and high levels of customer service.”
This assessment of Unisys reflects a 15% increase in overall performance and significant strides since the last certification audit in 2021. Key strengths highlighted in the recertification report include adding the Experience Management Office into the overall delivery model, implementing 14 Experience Level Agreements (XLA) in the production environment and focusing on proactive business development predictive experiences. Unisys received high marks for overall leadership, strategy and policy, and people management.
“The recertification represents the continuous work of our team to optimize IT support operations, progress the maturity of our advanced Global Service Desk capability and maintain our commitment to helping our clients achieve breakthroughs with superior IT support,” said Patrycja Sobera, global vice president, Digital Workplace Solutions Delivery, Unisys.
Patrycja Sobera has also been highlighted as one of HDI’s Top 25 Thought Leaders for 2024, and Unisys has been named a finalist in four key categories of the 2024 HDI Global Service and Support Awards:
Best Service and Support ManagerBest Service Improvement InitiativeBest Customer ExperienceBest Use of TechnologyThe HDI Global Service and Support Awards 2024 winners will be revealed at HDI SupportWorld Live in May 2024. In 2023, Unisys was named the winner in the Best Culture and Best Support Organization categories.
To learn more about the company’s global service desk offerings, click here.
About Unisys
Unisys is a global technology solutions company that powers breakthroughs for the world’s leading organizations. Our solutions – cloud, data and AI, digital workplace, logistics and enterprise computing – help our clients challenge the status quo and unlock their full potential. To learn how we have been helping clients push what’s possible for 150 years, visit unisys.com and follow us on LinkedIn.
RELEASE NO.: 0417/9944Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.UIS-C
Logo – https://mma.prnewswire.com/media/2301438/Unisys_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/unisys-digital-workplace-solutions-receives-hdis-it-support-center-recertification-recognizing-continued-excellence-in-it-support-302119789.html
Artificial Intelligence
Huawei Introduces AI Technologies to Accelerate Network Transformation Towards All Intelligence in the Net5.5G Era
SHENZHEN, China, April 17, 2024 /PRNewswire/ — At Huawei Analyst Summit 2024, Steven Zhao, Vice President of Huawei’s Data Communication Product Line, delivered a speech entitled “Accelerating Network Transformation Towards All Intelligence”. Mr. Zhao shed light on how Huawei introduced AI technologies to upgrade network capabilities at case-, process-, and system-levels and accelerate network intelligence. Participants, including industry partners, also explored the current trends and future prospects of the Net5.5G industry.
“As AI technologies advance, we see the inflection point for deploying network intelligence. Networks need to be deeply integrated with AI technologies, propelling Net5.5G networks into the intelligent era,” said Steven Zhao. “We believe network innovation in the Net5.5G era covers two aspects: AI for Networks and Networks for AI. An intelligent network entails intelligent network elements (NEs), digital twins, and generative AI, which underpin efficient, intelligent network operations. And AI-powered network solutions accurately meet the needs of intelligent networks and, more importantly, turbocharge AI training and maximize the transmission capacity of intelligent computing.”
Huawei has pioneered in applying network intelligence technologies to the data communication field. Specifically, Huawei’s groundbreaking Net Master (powered by generative AI) and HD network digital map accelerate the pace towards L4 autonomous networks. Net5.5G High-Quality 10 Gbps CloudCampus leverages AI technologies to upgrade wireless, application, and operations and maintenance (O&M) experience. And Net5.5G Converged WAN — featuring high throughput, high elasticity, and highly guaranteed performance — offers intelligent transmission capacity for the computing power era. HiSec SASE enables intelligent defense and increases security operations efficiency by 100 times.
Ethan, Infrastructure Network Director at iFlytek, shared their innovative practices with Huawei’s Net5.5G Xinghe Data Center Network Solution. This solution empowers iFlytek with a cluster of over 10,000 GPUs/NPUs, improving AI model training efficiency by 17% while slashing AI training interruptions by 80%.
2024 is the first year for Net5.5G commercial use. At this event, the World Broadband Association (WBBA) and its members put forward Net5.5G industry initiatives to build high-speed, premium network infrastructures. China Academy of Information and Communications Technology (CAICT) also delved into Net5.5G next-generation Internet architectures, marking another wave of innovation in network technology.
Steven Zhao called on all industry stakeholders to jointly embrace Net5.5G, introduce intelligent technologies, deploy network digital twins at scale, and inspire AI technology innovation, ultimately accelerating network transformation towards all intelligence.
Photo – https://mma.prnewswire.com/media/2390040/Huawei.jpg
View original content:https://www.prnewswire.co.uk/news-releases/huawei-introduces-ai-technologies-to-accelerate-network-transformation-towards-all-intelligence-in-the-net5-5g-era-302119770.html
-
Artificial Intelligence5 days ago
In-Depth Analysis of Germany and France Data Center Markets: Germany Poised to Contribute Over $12.24 Billion Opportunities in the Next 6 Years – Arizton
-
Uncategorized5 days ago
Arm CEO Rene Haas will be delivering a Partner’s Event Speech at COMPUTEX 2024
-
Uncategorized5 days ago
BJEI: A New Record of High Performance in 2023 and a New Pattern of Diversified and Coordinated Development
-
Uncategorized5 days ago
Dimethyl Carbonate Market worth $1.9 billion by 2028 – Exclusive Report by MarketsandMarkets™
-
Uncategorized5 days ago
Integrity Food Marketing Joins Forces with CA Ferolie to Expand East Coast Reach from Maine to Florida
-
Artificial Intelligence5 days ago
CogX Festival Set to Debut in Los Angeles at Century Plaza on May 7th, 2024
-
Artificial Intelligence5 days ago
aelf Leads the Fusion of AI and Blockchain to Shape the Future of Technology
-
Artificial Intelligence5 days ago
Xinhua Silk Road: Zoomlion Access pursues high-quality development with aerial work machinery sector innovation