Significant insights of Core Banking Solutions (CBS) Market 2023 - Analysis & Forecast (Billion $ Ma
October 16, 2019 by Market-NewsFlash
Core Banking Solutions Market - Synopsis
Core Banking Solutions (CBS) as a process facilitates online centralized banking in real-time. Through this process all the information & transaction details of an account holder are maintained on the network server to allow the holder to access his account online literally from anywhere. Over the past few years Banks and Financial Institutions have transformed phenomenally in terms of services, offerings and overall operations.
Thanks to the technological advancements that have brought about these changes in the landscape of the Banking services environment to the core.
Acknowledging the exponential traction the market is perceiving currently, Market Research Future (MRFR) recently published a brilliant study report giving out the complete market insight up till 2023. In its report MRFR asserts that the global Core Banking Solutions market will gain accruals of USD 13 Billion by 2023 with a CAGR of 4 % throughout the forecast period (2017-2023). This growth mainly attributes to the technological advancements.
Other predominant factors that foster the market growth of CBS include; augmented customer demand for advanced banking technologies that offer cost effective solutions allowing them to manage their accounts in real time, conveniently & more efficiently. Besides, the growing need of operating customer accounts from single server is one of the key propeller of the market growth.
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CBS sufficing this customer demand has proven to be far more effective in achieving customer satisfaction loyalty & hence assuring a good business for the banks. This resultantly, augments the uptake of CBS furthering the market size.
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Global Core Banking Solutions Market is estimated to grow by 4% of CAGR, Core Banking Solutions…Read on marketresearchfuture.com
Worldwide Core Banking Solutions Market - Competitive Landscape
The market of Core Banking Solutions appears to be fiercely competitive & fragmented owing to the presence of numerous matured & small key players accounting for a substantial market share. These market players try to gain competitive advantage through strategic partnership, acquisition, expansion, collaboration, product & technology launch. They invest heavily in the R&D to develop a technology that is completely on a different level compared to their competition.
February 26, 2018 - Profinch Solutions Pvt.Ltd. (India) an Oracle Gold Partner, offering core banking transformation, support, application development etc. announced that it has achieved Oracle Validated Integration of FinCluez 1.6 with Oracle FLEXCUBE 12.3. With an end-to-end pre-integrated offering, Oracle FLEXCUBE customers can now choose FinCluez to accomplish their business intelligence endeavour with much greater agility.
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