The Core Banking market is poised to grow through 2017; a modest 4% growth rate, steadily growing to a market size of $10.7B
Though decision-making related to core banking technology is dependent on local circumstances, three global trends are observed:
- Banks are increasingly willing to consider core replacements, whether big bang or phased (which is dependent on size).
- Cost and customer demands for agility are key drivers motivating banks to finally make the switch.
- Vendor products have matured enough that the trepidation banks have typically felt may no longer be warranted.