Core Banking Solutions for Midsize Banks: A Global Perspective
Core banking is the central processing unit of a bank. Banks, with the help of software vendors, have found the opportunity to leverage multiple channels in order to deliver products and facilitate transactions. What was once a system heavily reliant on paper-based operations has now been revolutionized by digital alternatives, bringing with it a new wave of automation. Efficiency and increased productivity are the standards. Branch networks are increasingly able to utilize the cohesive properties of new core systems.
In a new report, Core Banking Solutions for Midsize Banks: A Global Perspective, Celent compares a range of solutions that have a sizable presence with midsize global banks, specifically those solutions with more than 50% of their customer base having between US$1 billion and $20 billion assets, or those with over 30 banks within that range. In this report, Celent covers solutions where more than 10% of the clients are located in regions other than North America. Celent has created a map of core banking vendors and then ranked these vendors using its ABCD Vendor View. XCelent Awards are given to the leading solutions within four categories.
“Analytics, customer-centricity, and multichannel technologies are major trends across the market,” says Bart Narter, Celent Senior Vice President and coauthor of the report. “Banks increasingly want a core system that utilizes data analytics in order to provide a more complete view of the customer which then allows for better customer-bank communication. Multichannel options like ATM, mobile, internet, and IVR are crucial in attracting and serving customers.”
This report is one of a series on core banking. Other reports include
- Core Banking Solutions for Small Banks: A Global Perspective
- Core Banking Solutions for Large Banks: A Global Perspective
- Core Banking Solutions for Midsize and Large Banks: A North American Perspective
- Core Banking Solutions for Small Banks: A North American Perspective
- Big Leagues Table 2012: Global Core Banking Sales Ranking