Basingstoke, UK – 10th June 2024: A new study from Juniper Research, the foremost experts in fintech & payments markets, has revealed the core banking systems vendors best prepared to compete with challenger banks.
The study, which thoroughly assessed 18 leading core banking vendors, identified solutions that enhance user support, such as 24-hour customer service and personalised product recommendations, as key services that position vendors as market leaders.
An extract from the new report, Global Core Banking Systems Market 2024, is now available as a free download.
Which Core Banking Systems Vendors Lead the Market in 2024?
Underpinned by a robust scoring methodology, the new Competitor Leaderboard ranked the top 18 core banking systems vendors, using criteria such as geographical reach, the strength of its strategic partnerships, and future business prospects.
The top 5 vendors for 2024:
- Temenos
- FIS
- Mambu
- Finastra
- Tata Consultancy Services
Top Vendors Maximising the Benefits of Cloud Adoption
Leading players scored exceptionally at offering the richest banking capabilities, with strong merit given to those leveraging cloud-based solutions tailored to helping banking segments from retail, corporate and wealth management scale their operations. However, the report cautioned that, to stay competitive, vendors must develop future-proof solutions that allow banks to focus on rapid scaling in line with increases in the demand for 24/7 banking.
Research author Daniel Bedford explained: “API integration and Open Banking support are vital to vendors’ longevity. API-enabled services can readily integrate with existing core banking systems; modernising banks’ infrastructure without needing to replace existing systems. This drives competition, as banks can integrate new services to compete with challenger banks.”
About the Research Suite
The new research and data suite offers the most comprehensive assessment of the core banking systems market to date. The report evaluates the key trends in the core banking systems market, alongside the benefits and challenges of adopting modern core banking systems. the suite also provides a ‘Competitor Leaderboard’ and an examination of future market opportunities.
Juniper Research has, for two decades, provided market intelligence and advisory services to the global financial sector, retained by many of the world’s leading banks, intermediaries and providers.
For further details please contact Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com
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