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Core Banking Software Market Size Worth $16.38 Billion By 2027: Grand View Research, Inc.SAN FRANCISCO, Dec. 3, 2020 /PRNewswire/ -- The global core banking software market size is expected to reach USD 16.38 billion by 2027, registering a CAGR of 7.5% from 2020 to 2027 according to a new report by Grand View Research, Inc. Core banking software and services are seeing an increased rise in demand as they enable customers to access their bank accounts and undertake basic transactions from any branch office of their bank, among other benefits. Core banking is often associated with retail banking, with many banks treating their retail customers as core banking customers and managing businesses via their corporate divisions. Key suggestions from the report:
Read 130 page research report with ToC on "Core Banking Software Market Size, Share & Trends Analysis Report By Solution (Enterprise Customer Solutions, Deposits), By Service, By Deployment, By End-use, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/core-banking-software-market The advent of telecommunication and computer technology is allowing businesses to share banking information with bank branches efficiently and quickly. Moreover, banks are focusing on moving to core banking applicatons to support their banking operations via a Centralized Online Real-time Exchange (CORE) of transaction data. Financial institutions and banks are adopting core banking software as it enables them to facilitate decision making through real-time reporting and analytics. Large financial institutions are focusing on implementing their custom care core banking systems. Additionally, credit unions and numerous community banks are outsourcing their core banking systems, thereby driving the market growth. Large financial institutions and banks are increasingly realizing the need to focus on ways of achieving customer delight, thereby creating growth opportunities for the market. While the market is expected to witness steady growth in the near future, the COVID-19 pandemic is anticipated to adversely impact the market to a certain extent. However, the increasing demand for managing customer accounts from a single or centralized server is expected to fuel market growth. Increasing investments in core banking system updates to handle a growing volume of product-channel banking transactions is anticipated to propel the market growth over the forecast period. Grand View Research has segmented the global core banking software market on the basis of solution, service, deployment, end-use, and region:
List of Key Players of Core Banking Software Market
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Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
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