The core banking software is the core and foundation of a bank. It is a transaction processing software for various types of bank businesses. Through transaction processing, it drives accounting and payment settlement, ultimately achieving the goal of integrated processing of backend business. Whether it is the credit management and fund management systems in the backend or a series of counter businesses directly connected to customers on the front-end platform, core software is required as support.

According to the different types of servers required, core banking software can be divided into two categories: on-premises software and cloud-based software. Among them, on-premises software dominates. According to our research data, the global on-premises core banking software segment market size is expected to reach $7730.13 million in 2023, with an estimated market share of 78.74%.

From the perspective of downstream application patterns, retail banking is the largest downstream application market for core banking software. According to our data, the global market size of core banking software applied to retail banks is expected to reach $3276.58 million in 2023, accounting for 33.38% of the market share.

	Market Size (Million USD)	Market Share
Segmented by Type
On-Premises	7730.13	78.74%
Cloud-Based	2086.62	21.26%
Segmented by Application
Retail Banks	3276.58	33.38%
Private Banks	1893.43	19.29%
Corporate Banks	2267.57	23.10%
Others	2379.1	24.24%

Source: www.globalmarketmonitor.com

With the rapid development of financial technology, core banking software has become an important pillar of banking business operations, and its market size has steadily increased. Based on our research data, the total market size of global core banking software is expected to reach $9.82 billion in 2023 and is expected to increase to $11.32 billion by 2026. From the development situation of key regions, North America is the largest revenue market for the global banking core software industry. The estimated revenue of the banking core software market in this region in 2023 is 28.88 million, accounting for 29.42% of the global market.

 

Source: www.globalmarketmonitor.com

The core banking software market is in a rapidly developing stage. In the future, to meet more and higher user needs and improve service quality, core banking software needs to be continuously upgraded and optimized to maintain market competitiveness. In addition, with the opening of the financial market, market competition will become more intense.

For more information, please clease: 《2023 Global Core Banking Software Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast》.