The North America Retail Core Banking Solution Market should witness market growth of 9.3% CAGR during the forecast period (2022-2028).
Banks can save costs in operational and support activities with the help of retail core banking solutions, which encourages more banks to use them. Additionally, it provides bank account management and real-time transaction processing through networked branches. The market expansion for retail core banking solutions is also primarily driven by the rising use of core banking technology to modernize banking capabilities and the increased focus on providing better customer services.
Market participants are making substantial investments to increase their global reach. For instance, Credgenics, the world's leading provider of SaaS-based technology solutions for loan collections and debt resolution to banks, non-banking finance, and Fintech lenders, announced its entry into Indonesia in August 2022 as part of its next phase of growth. They have collaborated with system integrators and Core Banking Solution (C.B.S.) suppliers in Indonesia to expand their customers. By improving the platform, this expansion aims to meet the requirements of banks and other non-banking lenders for complete retail collections.
Many banks now offer applications for popular wearables like the Apple Watch and FitPay, which already integrates with Bank of America. Amazon also has plans to enable consumers to send money to one another using Alexa and deposit it into an Amazon-branded checking account. In addition, a smart A.T.M. was created by Diebold, a U.S. banking and security services business. Anyone who wants to make a cash withdrawal should use a mobile app to plan a session, go to the closest A.T.M., and select one of the verification choices. Thus, these factors are propelling the North America Retail Core Banking Solution Market.
The US market dominated the North America Retail Core Banking Solution Market by Country in 2021; thereby, achieving a market value of $1, 788.8 million by 2028. The Canada market is experiencing a CAGR of 11.4% during (2022-2028). Additionally, The Mexico market would exhibit a CAGR of 11.2% during (2022-2028).
Based on Component, the market is segmented into Solution (Without Services) and Services. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Application, the market is segmented into Regulatory Compliance, Risk Management, Digital Banking, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, Fiserv, Inc., Temenos AG, Tata Consultancy Services Limited, SAP SE, Infosys Limited, Fidelity National Information Services, Inc. (FIS), Kiya.ai, Jack Henry & Associates, Inc. and Silverlake Axis Ltd.
Banks can save costs in operational and support activities with the help of retail core banking solutions, which encourages more banks to use them. Additionally, it provides bank account management and real-time transaction processing through networked branches. The market expansion for retail core banking solutions is also primarily driven by the rising use of core banking technology to modernize banking capabilities and the increased focus on providing better customer services.
Market participants are making substantial investments to increase their global reach. For instance, Credgenics, the world's leading provider of SaaS-based technology solutions for loan collections and debt resolution to banks, non-banking finance, and Fintech lenders, announced its entry into Indonesia in August 2022 as part of its next phase of growth. They have collaborated with system integrators and Core Banking Solution (C.B.S.) suppliers in Indonesia to expand their customers. By improving the platform, this expansion aims to meet the requirements of banks and other non-banking lenders for complete retail collections.
Many banks now offer applications for popular wearables like the Apple Watch and FitPay, which already integrates with Bank of America. Amazon also has plans to enable consumers to send money to one another using Alexa and deposit it into an Amazon-branded checking account. In addition, a smart A.T.M. was created by Diebold, a U.S. banking and security services business. Anyone who wants to make a cash withdrawal should use a mobile app to plan a session, go to the closest A.T.M., and select one of the verification choices. Thus, these factors are propelling the North America Retail Core Banking Solution Market.
The US market dominated the North America Retail Core Banking Solution Market by Country in 2021; thereby, achieving a market value of $1, 788.8 million by 2028. The Canada market is experiencing a CAGR of 11.4% during (2022-2028). Additionally, The Mexico market would exhibit a CAGR of 11.2% during (2022-2028).
Based on Component, the market is segmented into Solution (Without Services) and Services. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Application, the market is segmented into Regulatory Compliance, Risk Management, Digital Banking, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, Fiserv, Inc., Temenos AG, Tata Consultancy Services Limited, SAP SE, Infosys Limited, Fidelity National Information Services, Inc. (FIS), Kiya.ai, Jack Henry & Associates, Inc. and Silverlake Axis Ltd.
Scope of the Study
By Component
- Solution (Without Services)
- Services
By Deployment Mode
- Cloud
- On-premise
By Organization Size
- Large Enterprises
- SMEs
By Application
- Regulatory Compliance
- Risk Management
- Digital Banking
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Oracle Corporation
- Fiserv, Inc.
- Temenos AG
- Tata Consultancy Services Limited
- SAP SE
- Infosys Limited
- Fidelity National Information Services, Inc. (FIS)
- Kiya.ai
- Jack Henry & Associates, Inc.
- Silverlake Axis Ltd
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Retail Core Banking Solution Market, by Component
1.4.2 North America Retail Core Banking Solution Market, by Deployment Mode
1.4.3 North America Retail Core Banking Solution Market, by Organization Size
1.4.4 North America Retail Core Banking Solution Market, by Application
1.4.5 North America Retail Core Banking Solution Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2020, Jan - 2022, Aug) Leading Players
Chapter 4. North America Retail Core Banking Solution Market by Component
4.1 North America Solution (Without Services) Market by Country
4.2 North America Services Market by Country
Chapter 5. North America Retail Core Banking Solution Market by Deployment Mode
5.1 North America Cloud Market by Country
5.2 North America On-premise Market by Country
Chapter 6. North America Retail Core Banking Solution Market by Organization Size
6.1 North America Large Enterprises Market by Country
6.2 North America SMEs Market by Country
Chapter 7. North America Retail Core Banking Solution Market by Application
7.1 North America Regulatory Compliance Market by Country
7.2 North America Risk Management Market by Country
7.3 North America Digital Banking Market by Country
7.4 North America Others Market by Country
Chapter 8. North America Retail Core Banking Solution Market by Country
8.1 US Retail Core Banking Solution Market
8.1.1 US Retail Core Banking Solution Market by Component
8.1.2 US Retail Core Banking Solution Market by Deployment Mode
8.1.3 US Retail Core Banking Solution Market by Organization Size
8.1.4 US Retail Core Banking Solution Market by Application
8.2 Canada Retail Core Banking Solution Market
8.2.1 Canada Retail Core Banking Solution Market by Component
8.2.2 Canada Retail Core Banking Solution Market by Deployment Mode
8.2.3 Canada Retail Core Banking Solution Market by Organization Size
8.2.4 Canada Retail Core Banking Solution Market by Application
8.3 Mexico Retail Core Banking Solution Market
8.3.1 Mexico Retail Core Banking Solution Market by Component
8.3.2 Mexico Retail Core Banking Solution Market by Deployment Mode
8.3.3 Mexico Retail Core Banking Solution Market by Organization Size
8.3.4 Mexico Retail Core Banking Solution Market by Application
8.4 Rest of North America Retail Core Banking Solution Market
8.4.1 Rest of North America Retail Core Banking Solution Market by Component
8.4.2 Rest of North America Retail Core Banking Solution Market by Deployment Mode
8.4.3 Rest of North America Retail Core Banking Solution Market by Organization Size
8.4.4 Rest of North America Retail Core Banking Solution Market by Application
Chapter 9. Company Profiles
9.1 Temenos AG
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Recent strategies and developments:
9.1.4.1 Partnerships, Collaborations, and Agreements:
9.1.4.2 Product Launches and Product Expansions:
9.1.5 SWOT Analysis
9.2 Fiserv, Inc.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Recent strategies and developments:
9.2.4.1 Partnerships, Collaborations, and Agreements:
9.2.4.2 Acquisition and Mergers:
9.2.5 SWOT Analysis
9.3 Tata Consultancy Services Ltd.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 Recent strategies and developments:
9.3.5.1 Partnerships, Collaborations, and Agreements:
9.3.5.2 Acquisition and Mergers:
9.3.6 SWOT Analysis
9.4 Infosys Limited
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 SWOT Analysis
9.5 Oracle Corporation
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent strategies and developments:
9.5.5.1 Product Launches and Product Expansions:
9.5.6 SWOT Analysis
9.6 SAP SE
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
9.6.5.1 Partnerships, Collaborations, and Agreements:
9.6.6 SWOT Analysis
9.7 Jack Henry & Associates, Inc.
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental Analysis
9.7.4 Research & Development Expenses
9.8 Fidelity National Information Services, Inc.
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Recent strategies and developments:
9.8.4.1 Partnerships, Collaborations, and Agreements:
9.8.4.2 Product Launches and Product Expansions:
9.9 Silverlake Axis Ltd.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Recent strategies and developments:
9.9.4.1 Partnerships, Collaborations, and Agreements:
9.9.4.2 Acquisition and Mergers:
9.10. Kiya.ai
9.10.1 Company Overview
Companies Mentioned
- Oracle Corporation
- Fiserv, Inc.
- Temenos AG
- Tata Consultancy Services Limited
- SAP SE
- Infosys Limited
- Fidelity National Information Services, Inc. (FIS)
- Kiya.ai
- Jack Henry & Associates, Inc.
- Silverlake Axis Ltd
Methodology
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