The Europe Banking System Software Market should witness market growth of 5.5% CAGR during the forecast period (2022-2028).
AI-based solutions can assist banks in reducing expenses by increasing efficiency and making decisions based on unintelligible information to a human agent. Nevertheless, smart algorithms might find fake information quickly. Chatbots are one of the best applications of artificial intelligence (AI) in banking today. In contrast to humans who have regular working hours, once deployed, they can work whenever they want. They keep finding out more about the usage patterns of particular clients. It helps them comprehend user requirements more effectively.
By incorporating chatbots into commercial banking apps, banks can ensure they are reachable to their customers around the clock. Moreover, chatbots can understand consumer behavior, offer tailored customer support, and make suitable financial product and service recommendations. The Bank of America virtual assistant Erica is one of the best examples of AI chatbots used in banking software.
Besides updating card security, an AI chatbot can also manage credit card debt and other tasks. Over 50 million customer inquiries were answered by Erica in 2019. An AI-based credit system may examine a customer's patterns of behavior to determine their creditworthiness even if they have a limited credit history. A further benefit of the system is that it alerts banks to certain acts that can increase the danger of default. In summary, these technologies are fundamentally changing how consumer financing will be carried out.
The UK, which has a robust bankingecosystem and a skilled workforce that spans the entire country, is the largest banking center in the world. The UK government continues to set the worldwide standard for the use of technology as well as innovation in financial services, with an increasing percentage of banking firms exporting from the nation. Digitally savvy banks aiming to move are increasingly thinking about API strategy 2.0. API strategy 2.0 scales from 10-100 public APIs to thousands of bundle-ready basic components with consistency and uniformity. The market for banking system software would have enough room for expansion due to API's continuous acceptance and growing use in the region.
The Germany market dominated the Europe Banking System Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,054.5 million by 2028. The UK market is anticipated to grow at a CAGR of 4.6% during (2022-2028). Additionally, The France market would exhibit a CAGR of 6.3% during (2022-2028).
Based on Application, the market is segmented into Transaction Management, Credit & Lending, Risk & Compliance, Customer Relationship Management, Investment Management and Others. Based on Operating System, the market is segmented into Android, Windows, iOS and Others. Based on Deployment Mode, the market is segmented into On premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Component, the market is segmented into Software (Without Services) and Services. Based on Software (Without Services) Type, the market is segmented into Core Banking System Software, Corporate Banking System Software, Investment Banking System Software and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, SAP SE, Salesforce.com, Inc., Oracle Corporation, Tata Consultancy Services Ltd., Infosys Limited, Fiserv, Inc., Fidelity National Information Services, Inc., and Finastra Group Holdings Limited (Vista Equity Partners).
AI-based solutions can assist banks in reducing expenses by increasing efficiency and making decisions based on unintelligible information to a human agent. Nevertheless, smart algorithms might find fake information quickly. Chatbots are one of the best applications of artificial intelligence (AI) in banking today. In contrast to humans who have regular working hours, once deployed, they can work whenever they want. They keep finding out more about the usage patterns of particular clients. It helps them comprehend user requirements more effectively.
By incorporating chatbots into commercial banking apps, banks can ensure they are reachable to their customers around the clock. Moreover, chatbots can understand consumer behavior, offer tailored customer support, and make suitable financial product and service recommendations. The Bank of America virtual assistant Erica is one of the best examples of AI chatbots used in banking software.
Besides updating card security, an AI chatbot can also manage credit card debt and other tasks. Over 50 million customer inquiries were answered by Erica in 2019. An AI-based credit system may examine a customer's patterns of behavior to determine their creditworthiness even if they have a limited credit history. A further benefit of the system is that it alerts banks to certain acts that can increase the danger of default. In summary, these technologies are fundamentally changing how consumer financing will be carried out.
The UK, which has a robust bankingecosystem and a skilled workforce that spans the entire country, is the largest banking center in the world. The UK government continues to set the worldwide standard for the use of technology as well as innovation in financial services, with an increasing percentage of banking firms exporting from the nation. Digitally savvy banks aiming to move are increasingly thinking about API strategy 2.0. API strategy 2.0 scales from 10-100 public APIs to thousands of bundle-ready basic components with consistency and uniformity. The market for banking system software would have enough room for expansion due to API's continuous acceptance and growing use in the region.
The Germany market dominated the Europe Banking System Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,054.5 million by 2028. The UK market is anticipated to grow at a CAGR of 4.6% during (2022-2028). Additionally, The France market would exhibit a CAGR of 6.3% during (2022-2028).
Based on Application, the market is segmented into Transaction Management, Credit & Lending, Risk & Compliance, Customer Relationship Management, Investment Management and Others. Based on Operating System, the market is segmented into Android, Windows, iOS and Others. Based on Deployment Mode, the market is segmented into On premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Component, the market is segmented into Software (Without Services) and Services. Based on Software (Without Services) Type, the market is segmented into Core Banking System Software, Corporate Banking System Software, Investment Banking System Software and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, SAP SE, Salesforce.com, Inc., Oracle Corporation, Tata Consultancy Services Ltd., Infosys Limited, Fiserv, Inc., Fidelity National Information Services, Inc., and Finastra Group Holdings Limited (Vista Equity Partners).
Scope of the Study
By Application
- Transaction Management
- Credit & Lending
- Risk & Compliance
- Customer Relationship Management
- Investment Management
- Others
By Operating System
- Android
- Windows
- iOS
- Others
By Deployment Mode
- On premise
- Cloud
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Component
- Software (Without Services)
- Core Banking System Software
- Corporate Banking System Software
- Investment Banking System Software
- Others
- Services
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Salesforce.com, Inc.
- Oracle Corporation
- Tata Consultancy Services Ltd.
- Infosys Limited
- Fiserv, Inc.
- Fidelity National Information Services, Inc.
- Finastra Group Holdings Limited (Vista Equity Partners)
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 Europe Banking System Software Market, by Application
1.4.2 Europe Banking System Software Market, by Operating System
1.4.3 Europe Banking System Software Market, by Deployment Mode
1.4.4 Europe Banking System Software Market, by Organization Size
1.4.5 Europe Banking System Software Market, by Component
1.4.6 Europe Banking System Software 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 Analyst's 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 : 2019, Mar - 2023, Jan) Leading Players
Chapter 4. Europe Banking System Software Market by Application
4.1 Europe Transaction Management Market by Country
4.2 Europe Credit & Lending Market by Country
4.3 Europe Risk & Compliance Market by Country
4.4 Europe Customer Relationship Management Market by Country
4.5 Europe Investment Management Market by Country
4.6 Europe Others Market by Country
Chapter 5. Europe Banking System Software Market by Operating System
5.1 Europe Android Market by Country
5.2 Europe Windows Market by Country
5.3 Europe iOS Market by Country
5.4 Europe Other Operating System Market by Country
Chapter 6. Europe Banking System Software Market by Deployment Mode
6.1 Europe On premise Market by Country
6.2 Europe Cloud Market by Country
Chapter 7. Europe Banking System Software Market by Organization Size
7.1 Europe Large Enterprises Market by Country
7.2 Europe Small & Medium Enterprises Market by Country
Chapter 8. Europe Banking System Software Market by Component
8.1 Europe Software (Without Services) Market by Country
8.2 Europe Banking System Software Market by Software (Without Services) Type
8.2.1 Europe Core Banking System Software Market by Country
8.2.2 Europe Corporate Banking System Software Market by Country
8.2.3 Europe Investment Banking System Software Market by Country
8.2.4 Europe Others Market by Country
8.3 Europe Services Market by Country
Chapter 9. Europe Banking System Software Market by Country
9.1 Germany Banking System Software Market
9.1.1 Germany Banking System Software Market by Application
9.1.2 Germany Banking System Software Market by Operating System
9.1.3 Germany Banking System Software Market by Deployment Mode
9.1.4 Germany Banking System Software Market by Organization Size
9.1.5 Germany Banking System Software Market by Component
9.1.5.1 Germany Banking System Software Market by Software (Without Services) Type
9.2 UK Banking System Software Market
9.2.1 UK Banking System Software Market by Application
9.2.2 UK Banking System Software Market by Operating System
9.2.3 UK Banking System Software Market by Deployment Mode
9.2.4 UK Banking System Software Market by Organization Size
9.2.5 UK Banking System Software Market by Component
9.2.5.1 UK Banking System Software Market by Software (Without Services) Type
9.3 France Banking System Software Market
9.3.1 France Banking System Software Market by Application
9.3.2 France Banking System Software Market by Operating System
9.3.3 France Banking System Software Market by Deployment Mode
9.3.4 France Banking System Software Market by Organization Size
9.3.5 France Banking System Software Market by Component
9.3.5.1 France Banking System Software Market by Software (Without Services) Type
9.4 Russia Banking System Software Market
9.4.1 Russia Banking System Software Market by Application
9.4.2 Russia Banking System Software Market by Operating System
9.4.3 Russia Banking System Software Market by Deployment Mode
9.4.4 Russia Banking System Software Market by Organization Size
9.4.5 Russia Banking System Software Market by Component
9.4.5.1 Russia Banking System Software Market by Software (Without Services) Type
9.5 Spain Banking System Software Market
9.5.1 Spain Banking System Software Market by Application
9.5.2 Spain Banking System Software Market by Operating System
9.5.3 Spain Banking System Software Market by Deployment Mode
9.5.4 Spain Banking System Software Market by Organization Size
9.5.5 Spain Banking System Software Market by Component
9.5.5.1 Spain Banking System Software Market by Software (Without Services) Type
9.6 Italy Banking System Software Market
9.6.1 Italy Banking System Software Market by Application
9.6.2 Italy Banking System Software Market by Operating System
9.6.3 Italy Banking System Software Market by Deployment Mode
9.6.4 Italy Banking System Software Market by Organization Size
9.6.5 Italy Banking System Software Market by Component
9.6.5.1 Italy Banking System Software Market by Software (Without Services) Type
9.7 Rest of Europe Banking System Software Market
9.7.1 Rest of Europe Banking System Software Market by Application
9.7.2 Rest of Europe Banking System Software Market by Operating System
9.7.3 Rest of Europe Banking System Software Market by Deployment Mode
9.7.4 Rest of Europe Banking System Software Market by Organization Size
9.7.5 Rest of Europe Banking System Software Market by Component
9.7.5.1 Rest of Europe Banking System Software Market by Software (Without Services) Type
Chapter 10. Company Profiles
10.1 IBM Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Regional & Segmental Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Acquisition and Mergers:
10.1.6 SWOT Analysis
10.2 Microsoft Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.6 SWOT Analysis
10.3 SAP SE
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent strategies and developments:
10.3.5.1 Partnerships, Collaborations, and Agreements:
10.3.5.2 Acquisition and Mergers:
10.3.6 SWOT Analysis
10.4 Salesforce.com, Inc.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional Analysis
10.4.4 Research & Development Expense
10.4.5 SWOT Analysis
10.5 Oracle Corporation
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 Recent strategies and developments:
10.5.5.1 Product Launches and Product Expansions:
10.5.6 SWOT Analysis
10.6 Tata Consultancy Services Ltd.
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expenses
10.6.5 Recent strategies and developments:
10.6.5.1 Partnerships, Collaborations, and Agreements:
10.6.5.2 Acquisition and Mergers:
10.6.6 SWOT Analysis
10.7 Infosys Limited
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expense
10.7.5 Recent strategies and developments:
10.7.5.1 Partnerships, Collaborations, and Agreements:
10.7.6 SWOT Analysis
10.8 Fiserv, Inc.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Recent strategies and developments:
10.8.4.1 Acquisition and Mergers:
10.8.5 SWOT Analysis
10.9 Fidelity National Information Services, Inc.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental and Regional Analysis
10.9.4 Recent strategies and developments:
10.9.4.1 Acquisition and Mergers:
10.10. Finastra Group Holdings Limited (Vista Equity Partners)
10.10.1 Company Overview
10.10.2 Recent strategies and developments:
10.10.2.1 Partnerships, Collaborations, and Agreements:
10.10.2.2 Product Launches and Product Expansions:
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Salesforce.com, Inc.
- Oracle Corporation
- Tata Consultancy Services Ltd.
- Infosys Limited
- Fiserv, Inc.
- Fidelity National Information Services, Inc.
- Finastra Group Holdings Limited (Vista Equity Partners)
Methodology
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