Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Summary
The global Central Banking Systems Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Central banking system is a bank’s centralized system, responsible for ensuring seamless work-flow by automating frontend and backend processes within a bank. The system gives customers access to banking facilities from any branch across the country and facilitates information on distribution channels. Moreover, the central banking system helps banks process withdrawals and deposits, and enhance customer relationship and transaction management.
Market Drivers:
Increasing adoption of advance banking systems and solutions amid COVID-19 is expected to augment the growth of the global central banking systems market during the forecast period. For instance, in April 2020, Temenos announced the launch of Explainable AI (XAI) models to enable banks and credit unions to rapidly offer loans to small and medium enterprises that have seen their cash flow disrupted by the outbreak of COVID-19. Hence, such factors are expected to drive growth of the global central banking systems market.
Moreover, increasing adoption of cloud-based solutions, surge in adoption of central banking systems, and increasing adoption of mobile and web-based business applications in the banking sector are some major factors expected to propel the global central banking systems market.
Market Restraints:
Security and privacy concerns with the central banking system, high maintenance costs, lack of awareness among people, and shortage of skilled workforce are some major factors expected to hamper the growth of the global central banking systems market.
Regional Insights:
Among regions, North America, Europe, and Asia Pacific are expected to witness substantial growth in the global central banking systems market due to surge in adoption of central banking systems, increasing adoption of cloud-based solutions, and increasing adoption of mobile and web-based business applications in the banking sector. For instance, in November 2021, Prime Minister of India, Narendra Modi, launched two customer-centric initiatives, such as the RBI Retail Direct Scheme and the Reserve Bank-Integrated Ombudsman Scheme. The two schemes launched will expand the scope of investment in the country and make access to capital markets easier and more secure for investors.
Competitive Section:
Major companies involved in the global central banking systems market are Alinma Bank, CGI, ION Treasury, ERI Bancaire, Five Degrees, ACI Worldwide, AutoRek, Calypso, Zenith Software Ltd., Ares International Corp., BCS Information Systems Pte Ltd, among others.
For instance, in November 2021, OneConnect Financial Technology Co. launched Gamma Core, its latest core banking system for financial institutions. Gamma Core is designed to help banks undergo a complete top-to-bottom digital restructuring to upgrade their underlying architecture, business processes and core systems.
The Central Banking Systems Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Central Banking Systems Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Calypso
- AutoRek
- ACI Worldwide
- Five Degrees
- ERI Bancaire
- ION Treasury
- CGI
- Ares International Corp.
- Zenith Software Ltd.
- BCS Information Systems Pte Ltd
- Alinma Bank
By Product Type, the market is primarily segmented into:
By Applications, the market is segmented into:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Central Banking Systems Market Report:
- To assess the size of the market by value and volume
- Analyze the Central Banking Systems Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Central Banking Systems Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Central Banking Systems Market
The Central Banking Systems Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Central Banking Systems Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
