search.noResults

search.searching

note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
Outlook


The Core banking systems market is evolving to say the very least. Digital banking – namely mobile and internet banking is forecasted to be the new normal. The year 2016 saw a large number of banks carry out a complete overhaul of their core banking system as old leagacy systems started to weigh them down in meeting customer expections. A common aspect across most implementations was the introduction of digital channels as part of core banking system upgrade or replacement.


Many of the large and mid-sized banks, especially in regions


such as MENA, parts of Asia and CEE are still running on legacy systems that are over 30 years old and calculate transactions balances in overnight batch processing, which makes it difficult for them to cater to the fast moving mobile app savvy customer expectation. Banks have realized this gap and in order to stay relevant and competitive will look to upgrade or replace their core banking systems in the coming years which will consequently drive core banking system deals.


So, it is safe to say that core banking systems market is here


to stay, with core replacements driving the market. However, the proliferation of standalone treasury and lending system deal which occupied a larger share of the core banking systems market compare to universal banking systems is a sign of things to come. Modular architecture and use of multiple specialized systems is in vogue as compared to single universal banking systems. Digital platforms are driving banks to invest in speacialized loan origination softwares while complex regulatory reporting requirements have necitated investment in robust risk management systems to ensure compliance.


The more successful system suppliers who can take


advantage of this demand will be the ones who make their product as customer friendly, economic and scalable as possible. Cloud based solutions, a secure modular architecture


and an integrated omnichannel platform will be a key for success here.


A major development that will influence the core banking


systems market is the open banking revolution. Open banking, which allows third party developers to build applications and services around the financial institution using Application Programming Interfaces (APIs), is expected to change the face of retail banking. The UK Competition and Markets Authority (CMA) want to see Open Banking by 2018 and it’s inherent in the EU Payment Services Directive (PSD2) regulation which again will be effective by next year. The PSD2 requires banks to open their account information to third parties, such as payment providers and aggregators of customer financial information. This is epected to make the European banking industry highly competitive with large banks no more in control of its customers.


The implementation of PSD2 has a direct impact on banking


IT spends, as banks look to get their legacy systems to be compliant with new regualations. Banks will have to upgrade their underlying technology architectures to support real-time support for open Application Programming Interfaces (APIs) and messages, higher transaction volumes and enhanced security and authentication.


While the above developments offer immense opportunity


for growth for core banking systems suppliers, this also sets the ground for a highly competitive market. Increased digitization and open banking platforms allow for fintech startups to move into this market. This also makes the market rife for consolidatios, with indicators already seen in 2015-2016, whatwith the merger of Misys and D+H, the acquisition by Temenos of Rubik and Israeli startup Multifonds. All said and done, 2017-18 is expected to be an exciting and transformative year for core banking systems.


Market Dynamics Report 2017 | www.ibsintelligence.com


224


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150  |  Page 151  |  Page 152  |  Page 153  |  Page 154  |  Page 155  |  Page 156  |  Page 157  |  Page 158  |  Page 159  |  Page 160  |  Page 161  |  Page 162  |  Page 163  |  Page 164  |  Page 165  |  Page 166  |  Page 167  |  Page 168  |  Page 169  |  Page 170  |  Page 171  |  Page 172  |  Page 173  |  Page 174  |  Page 175  |  Page 176  |  Page 177  |  Page 178  |  Page 179  |  Page 180  |  Page 181  |  Page 182  |  Page 183  |  Page 184  |  Page 185  |  Page 186  |  Page 187  |  Page 188  |  Page 189  |  Page 190  |  Page 191  |  Page 192  |  Page 193  |  Page 194  |  Page 195  |  Page 196  |  Page 197  |  Page 198  |  Page 199  |  Page 200  |  Page 201  |  Page 202  |  Page 203  |  Page 204  |  Page 205  |  Page 206  |  Page 207  |  Page 208  |  Page 209  |  Page 210  |  Page 211  |  Page 212  |  Page 213  |  Page 214  |  Page 215  |  Page 216  |  Page 217  |  Page 218  |  Page 219  |  Page 220  |  Page 221  |  Page 222  |  Page 223  |  Page 224