Core Banking in Latin America: Global Vendor Edition, 2017

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
4 October 2017

The core marketing in Latin America is dynamic, shaped by growing consumer demands around digital delivery.

Key research questions

  • What are the trends affecting the core banking systems market?
  • Does the client count of a solution reflect its competitiveness?
  • Does a single “best” core banking system exist?


Latin America is a distinct market for core banking, with particular vendor dynamics. Big wins can result in a long and profitable relationship, and so the core market is highly strategic.

While local vendors have had the most success, international vendors are trying to forge new relationships at all tiers. Understanding the market, as well as the major players, is important.

This report will focus on the global vendors in the market.

The core banking platform is the primary system of record for the accounts of a bank, and is arguably the most important technology component of any institution. Because of this, the decision to change it can be difficult. The process of switching out a core system has been likened to changing the engine on an aircraft in flight. These transformations can be costly and risky. It’s important that institutions choose the right vendor.

The complexity of transformation means that many banks are running systems that are decades old. In the last 10 years, the rise of digital and the evolution of delivery channels have added stress to these platforms. Needs have evolved, and some financial institutions are finding their core systems ill-equipped to meet today’s requirements. While technology adaptations have allowed banks to stave off full-blown core replacement, many institutions are reaching the breaking point, opting to transform their legacy core system.