Global Core Banking Solutions for Midsize Banks
The midsize bank market is showing more core activity than the very largest banks.
Core banking systems are the heart of a bank. All transactions move through core systems, which (at an absolute minimum) must remain running and responsive during business hours. Increasingly, these systems are running 24x7 to support Internet banking, global operations, and real time transactions via ATM, Internet, phone, and debit card. In the report Core Banking Solutions for Midsize Banks, Celent compares the range of solutions available to banks looking to revamp their core systems.
The "I's have it" in this evaluation. The vendors from India, Infosys and i-flex, are the top performers in this group across the Celent ABCD analysis. They are coming on strong, aggressively serving this market and the large bank market as well. Their benchmark data shows that they are investing in moving up the food chain to the very top.
"This is the most interesting part of the market, since there is more core churn in this portion than at the largest banks. These midsize banks have less complex environments, enabling them to change core more easily. Yet they are large enough to generate substantial revenue for their vendors and create proof points for the largest banks," says Bart Narter, author of the report and senior analyst in the Banking group at Celent.
This report is the third in a series on core banking. The first report, Why the Fear Factor?: Migrating Core Banking Systems, April 2006, provides an overview of the core banking landscape and includes a case study in North America. The second report is Core Banking Solutions for Large Banks, May 2006.
Subsequent reports will include: Core Banking Solutions for Small Banks (coming in the third quarter of this year), Core Banking Solutions, Core Banking: A Global Perspective, and Core Lending Systems.
A table of contents is available online.