Big Leagues Table 2010: Global Core Banking Sales Ranking
A core banking system forms the central unit of a financial institution, and banks around the world have realized the importance of a specialized system in improving their processes, productivity, and profitability.
The wave of core banking transformations has caught up to the underdeveloped countries, and banks are seeing the inherent advantages that a modern core solution provides. Over the last two decades, numerous vendors have capitalized on the rising popularity of core banking systems and developed and customized solutions based on banks’ requirements across the globe.
In the report, Big Leagues Table 2010: Global Core Banking Sales Ranking, Celent provides a detailed look at the core banking deals and measures the number of new name banking deals that vendors won in the 12 months ending September 30, 2009. Celent has developed a scoring methodology to rank the core banking vendors to score them on their deals during the time period October 2008 to September 2009. The Celent Big Leagues Table assesses the success of a core banking vendor based on a proxy for value of the deals won, rather than the number.
“Core banking deals have picked up with the receding effects of the economic crisis and most of the traction is being observed in Asia-Pacific, Europe, and the Middle East,” says Rajesh M R, Celent Analyst and coauthor of the report. “The international expansion of financial institutions and changing requirements for products and services offered by banks have provided additional opportunities for core vendors to capitalize.”
“Existing sales league tables don’t take the size of the bank or the extensiveness of the deployment into account,” adds Bart Narter, Senior Vice President of Celent’s Banking Group and coauthor of the report. “Selling to twenty banks with $200 million in assets isn’t the same as selling to twenty banks with $50 billion in assets. Celent’s Big League table reflects this complexity.”