The Report Covers UK Banks Market Share & Statistics and It is Segmented by Product (Transactional Accounts, Saving Accounts, Debit Cards, Credit Cards, Loans, and Other Products) and Channel (Direct Sales and Distributors).

In 2017, the United Kingdom’s three largest banks accounted for approximately 50 percent of assets held by banks in the region. The UK’s largest bank had total assets valued at 2.1 trillion euros in 2017 and held a market share of 25 percent. In 2017, HSBC was also the largest bank in Europe.

The fall of Europe’s banks

Since the financial crisis, banks need to enhance profitability and ensure financial stability has seen the number of credit institutions fall. This alongside the rise in online banking, the need for physical bank branches has become less relevant. In 2017, Estonia’s physical banks had an average of over 14.5 thousand customers per branch.

The United Kingdom’s finance sector

In 2017, the United Kingdom’s financial services sector employed more than one million employees. Despite the rise of employment in the UK’s financial services sector, bank branches have seen a similar decline to the rest of Europe, with the North West seeing the largest number of branches closed in recent years. Between 1981 and 2018, some banks have seen as much as an 80 percent fall in branches nationwide.

This statistic illustrates the market share of the current accounts of leading banks in the United Kingdom (UK) as of 2014. Market share of current accounts is an important measure for comparison between banks, as a larger share of the current account market means that more customers are actively keeping their money with a particular bank. Furthermore, current account market share is important for the banks themselves as an increase in the market share of current accounts will lead to an increase in revenue, as all accounts, no matter the type, have a form of revenue associated with them. It can be seen that as of 2014, the London headquartered Lloyds Bank PLC had the largest share of the current accounts market. A total of more than one quarter (27 percent) of all current accounts were with Lloyds Bank PLC at that time. With a share of almost one fifth (18 percent) of the current accounts market each, Barclays Bank PLC and the Royal Bank of Scotland were joint second at that time. Since the introduction of "current account switch service" (CASS) by Payments Council, the gains and loses on the current accounts market by the leading banks have been closely monitored.

Over the five years through 2024-25, UK banks' revenue is expected to climb at a compound annual rate of 1.7% to £128.6 billion, including anticipated hike of 2% in 2024-25. After the financial crisis, low interest rates limited banks' interest in loans, hitting income. At the same time, a stricter regulatory environment, including increased capital requirements introduced under the Basel III banking reforms and ring-fencing regulations, constricted lending activity. To protect their profitability, banks have shut the doors of many branches and made substantial job cuts. Following the COVID-19 outbreak, the Bank of England adopted aggressive tightening of monetary policy, hiking interest rates to rein in spiralling inflation. The higher base rate environment lifted borrowing costs, driving interest income for banks, which reported skyrocketing profits in 2023-24. Although profit grew markedly, pressure to pass on higher rates to savers and fierce competition weighed on net interest income at the tail end of the year, the difference between interest paid and interest received. UK banks are set to continue performing well in 2024-25 as the higher interest rate environment maintains healthy interest income, aiding revenue growth. However, net interest income is set to dip marginally due to higher deposit costs and narrow margins on mortgage loans. With further rate cuts priced into markets, savings rates will drop in 2024-25, stemming the drop in net interest income. Over the five years through 2029-30, industry revenue is forecast to swell at a compound annual rate of 3.3% to reach £151.1 billion. Regulatory restrictions, tougher stress tests and stringent lending criteria will also hamper revenue growth. Competition is set to remain fierce — both internally from lenders that deliver their services exclusively via digital channels and externally from alternative finance providers, like peer-to-peer lending platforms. The possibility of legislation like the Edinburgh reforms will drive investment and lending activity in the coming years, if introduced. However, concerns surrounding the repercussions of less stringent capital requirements and the already fragile nature of the UK financial system pose doubt as to whether any significant changes will be made.

The 10 largest mortgage lenders in the United Kingdom accounted for approximately 81 percent of the total market, with the top three alone accounting for 41 percent in 2023. Lloyds Banking Group had the largest market share of gross mortgage lending, with nearly 36.8 billion British pounds in lending in 2023. HSBC, which is the largest UK bank by total assets, ranked fourth. Development of the mortgage market In 2023, the value of outstanding in mortgage lending to individuals amounted to 1.6 trillion British pounds. Although this figure has continuously increased in the past, the UK mortgage market declined dramatically in 2023, registering the lowest value of mortgage lending since 2015. In 2020, the COVID-19 pandemic caused the market to contract for the first time since 2012. The next two years saw mortgage lending soar due to pent-up demand, but as interest rates soared, the housing market cooled, leading to a decrease in new loans of about 100 billion British pounds. The end of low interest rates In 2021, mortgage rates saw some of their lowest levels since recording began by the Bank of England. For a long time, this was particularly good news for first-time homebuyers and those remortgaging their property. Nevertheless, due to the rising inflation, mortgage rates started to rise in the second half of the year, resulting in the 10-year rate doubling in 2022.

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Retail Banking IT Spending Market Size 2025-2029

The retail banking it spending market size is forecast to increase by USD 14.64 billion at a CAGR of 4.6% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing need for greater customer satisfaction through personalized services and digital offerings. This trend is further fueled by the incorporation of advanced analytics into third-party banking software, enabling institutions to gain valuable insights into customer behavior and preferences. However, this digital transformation comes with challenges, particularly in the areas of data privacy and security. As financial institutions continue to invest in IT solutions to meet evolving customer demands, they must also prioritize security measures to protect sensitive customer information. Companies seeking to capitalize on this market opportunity must stay abreast of the latest technologies and regulatory requirements, while also addressing the growing concerns around data privacy and security. Effective strategic planning and operational execution will be crucial for retail banks to navigate these challenges and succeed in this dynamic market.

What will be the Size of the Retail Banking IT Spending Market during the forecast period?

Request Free SampleThe market is experiencing significant growth as financial institutions prioritize technology investments to enhance customer experience, operational efficiency, and competitive position. With increasing interest rates and inflationary pressure, net interest margins remain a crucial revenue stream for retail banks. However, customer satisfaction and service propositions are key differentiators in a market where external stimuli, such as digital transformation and changing consumer preferences, continue to shape the landscape. IT spending in retail banking is focused on IT hardware and software, with a shift towards cloud solutions and mobile banking to improve accessibility and convenience. Data analytics and cybersecurity measures are also critical investments to mitigate risks and provide personalized offerings. Retail banks are embracing IT services to stay competitive, with a focus on digital transformation and the implementation of innovative technologies such as artificial intelligence, autonomous banking, blockchain technology, and biometric authentication. The integration of these advanced IT solutions aims to streamline banking operations, enhance security, and create value propositions that cater to evolving customer needs.

How is this Retail Banking IT Spending Industry segmented?

The retail banking it spending industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeIT servicesIT hardwareIT softwareApplicationApplication development and maintenanceSoftware deployment and supportInternal operationsChannel managementOthersGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyThe NetherlandsUKAPACChinaIndiaJapanMiddle East and AfricaSouth America

By Type Insights

The it services segment is estimated to witness significant growth during the forecast period.In the retail banking sector, IT spending continues to be a significant investment area, driven by factors such as interest rates, net interest, inflationary pressure, and customer experience. IT services, including application development and maintenance, system integration, IT consulting, software deployment and support, and hardware deployment and support, dominate IT spending. IT consulting services experienced a 10% year-over-year growth in 2023, surpassing the overall IT services spend growth of 8.8%. Key players, such as Accenture, Capgemini, Cognizant, EPAM, Grid Dynamics, and HCL Tech, expanded their artificial intelligence (AI) capabilities in Q2 2023, with many collaborating with Google Cloud to enhance their offerings. Technological advancements, consumer preferences, economic developments, and revenue streams influence retail banking IT spending. IT workforce, cloud spending, production volume, and operational efficiency are essential components of retail banking IT spending. Digital transformation through technologies like artificial intelligence, data analytics, cloud native ecosystem, infrastructure as code, cloud migration, containerization technologies, threat detection, prevention technologies, data encryption, blockchain technology, and fraud protection are shaping the retail banking landscape. Customer relationship management, online transaction systems, mobile banking, and digital banking are crucial customer experience propositions. Consumer expectations for seamless digital experiences and enhanced security are driving the adoption of these technologies.

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The dataset includes balance sheet data of major UK banks for the period 2005-2009. The data is collected from each bank's annual reports over that time period. The purpose is to obtain information on market shares of leading UK banks.

The ESRC Centre for Competition Policy (CCP) at the University of East Anglia (UEA) undertakes interdisciplinary research into competition policy and regulation that has real-world policy relevance without compromising academic rigour. It prides itself on the interdisciplinary nature of the research and the members are drawn from a range of disciplines, including economics, law, business and political science. The Centre was established in September 2004, building on the pre-existing Centre for Competition and Regulation (CCR), with a grant from the ESRC (Economic and Social Research Council).

The retail banking sector in Hong Kong has shown growth despite the recent impact of COVID-19. Residential mortgages and retail deposits recorded the highest compound annual growth rates (CAGRs) in the region, with the exception of China. Consumer credit lending showed a strong CAGR in personal loans, again only trailing the Chinese market. However, growth across credit cards was weaker as economic activity decreased due to the pandemic. The Hong Kong market has witnessed a triple threat over the last few years. Its economy entered a recession in 2017 as geopolitical forces such as the US-China trade war had effects on the territory. Domestic political instability compounded this uncertainty, and COVID-19 became the metaphorical cherry on top in 2020. The retail, tourism, hospitality, and transport sectors were all negatively impacted by the global decrease in travel as well as by regional travel bans and nationwide lockdowns. Overall, Hong Kong as a territory and a financial center has fared better during the pandemic than other markets – but a recent surge in cases has had significant effects on growth and recovery. Read More

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Community Banking Market Size 2025-2029

The community banking market size is forecast to increase by USD 253 billion, at a CAGR of 5.8% between 2024 and 2029.

The market is experiencing significant growth, driven by key trends such as the increasing adoption of microlending in developing nations and the rising use of digital platforms. Microlending, a type of small loan, is gaining popularity in regions where traditional banking services may not be readily available. Furthermore, the adoption of digital technologies, including cloud computing, is enabling community banks to expand their reach and offer more convenient services to customers. However, there is still a lack of awareness about community banking services in certain areas, which presents a challenge for market growth. Overall, the market is poised for continued expansion as these trends continue to shape the industry landscape.

What will be the Size of the Community Banking Market During the Forecast Period?

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The market encompasses financial institutions that cater to the unique needs of local communities, including metropolitan, rural, and micropolitan areas. With a focus on personalized services, these institutions play a crucial role in the financial landscape, particularly in serving small businesses and individuals who may not have access to resources offered by larger banks. Despite the overall growth of the financial services sector, community banks have faced challenges in recent years. Economic recessions and interest rate fluctuations have impacted deposit growth and profitability. However, community banks have responded by embracing advanced technology, such as Internet banking, mobile banking, and remote deposit capture, to enhance customer convenience and competitiveness.
Additionally, some community banks have expanded their offerings to include microlending and other niche services to differentiate themselves in the market. Fees and rates remain important factors in the market, with consumers and businesses seeking competitive pricing and value-added services. The adoption of technology has enabled community banks to offer more efficient and cost-effective solutions while maintaining a personal touch that sets them apart from big banks. Overall, the market continues to evolve, with a focus on innovation, customer service, and meeting the unique needs of local communities.

How is this Community Banking Industry segmented and which is the largest segment?

The community banking industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Area

  Metropolitan
  Rural and micropolitan


Sector

  Small business
  CRE
  Agriculture


Service Type

  Retail banking
  Commercial banking
  Wealth management and financial advisory
  Others


Geography

  North America

    Canada
    Mexico
    US


  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France


  South America



  Middle East and Africa

By Area Insights

The metropolitan segment is estimated to witness significant growth during the forecast period. Community banking, comprised of financial institutions (FIs) serving metropolitan, rural, and micropolitan areas, continues to evolve in response to changing customer preferences and economic conditions. With the proliferation of advanced technology, such as Internet banking, mobile banking, remote deposit capture, and microlending, customers increasingly favor digital channels for their financial transactions. Convenience, security, and accessibility are key drivers, as users seek to save time and manage their finances efficiently.
In the retail banking sector, FIs differentiate themselves through enhanced security measures, seamless login processes, site availability, comprehensive information, and integration of various services on a single platform. Additionally, small businesses and agriculture sectors, which are significant contributors to local economies, benefit from community banks' focus on their unique needs. Despite economic recessions, community banks remain a vital part of the financial landscape, providing essential services to their communities.

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The metropolitan segment was valued at USD 412.90 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Digital Banking Platforms Market Size 2024-2028

The digital banking platforms market size is forecast to increase by USD 25.58 billion at a CAGR of 16.9% between 2023 and 2028. The market is experiencing significant growth due to the increasing use of smartphones, computers, and IoT devices for banking transactions. The convenience and accessibility offered by platforms have led to a rise in their adoption, particularly among younger generations. Additionally, the rise of artificial intelligence (AI) and machine learning technologies is enabling banks to offer more personalized services and improve customer experience. However, the market also faces challenges related to data privacy and security concerns, as well as the need for banks to adapt to evolving regulatory requirements. The implementation of blockchain as a service in banking, financial services, and insurance (BSFI) is another trend that is gaining traction, offering benefits such as increased security, transparency, and efficiency. Overall, the market is poised for continued growth as technology continues to transform the banking industry.

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Digital banking platforms have revolutionized the financial industry, offering unprecedented convenience and accessibility to customers. These platforms enable banking services to be accessed via smartphones, computers, and IoT devices, making transactions faster and more efficient. The advent of these platforms has led to a significant shift from traditional banking methods. Banks are increasingly deploying automated platforms to enhance productivity and reduce costs, providing income prospects for the financial sector. Internet connectivity plays a pivotal role in the functioning. With the widespread availability of high-speed internet, banks can offer online banking services, mobile apps, and digital wallets, enabling customers to manage their finances from anywhere, at any time. Cloud computing and cloud storage have further boosted the adoption. Banks can store customer data securely in the cloud, ensuring easy accessibility and reducing the need for on-premise infrastructure. This not only reduces costs but also enhances the user experience. Artificial intelligence (AI) is another key technology driving the growth.

Moreover, AI-powered chatbots and virtual assistants offer personalized services to customers, providing quick responses to queries and facilitating seamless transactions. Digital services offered include retail banking, inclusive banking, inter-account transfers, and telecommunication network bill payments. Fintech firms are also leveraging these platforms to offer innovative digital financial solutions. The deployment of platforms can be done through Software as a Service (SaaS) or on-premise models. SaaS offers the advantage of easy deployment and scalability, while on-premise models provide greater control and security. The use of digital banking platforms offers numerous benefits, including increased client loyalty, improved user experience, and cost savings. Banks can leverage these platforms to offer personalized services, streamline operations, and stay competitive in the digital age. In conclusion, digital banking platforms are transforming the financial industry by offering convenient, accessible, and efficient banking services. With the integration of IoT devices, AI, cloud computing, and other technologies, digital banking platforms are set to redefine the way we manage our finances.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Retail banking
  Corporate banking


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    India


  South America



  Middle East and Africa

By Type Insights

The retail banking segment is estimated to witness significant growth during the forecast period. In the retail banking sector, digital banking platforms have revolutionized the way consumers manage their finances. These automated systems enable productivity gains and cost reductions for both banks and their customers. With the shift to cloud computing and cloud storage, online banking has become a preferred choice for time-strapped individuals. According to research, an increasing number of customers prefer to conduct financial transactions online due to the convenience and time savings. Security, user-friendly login processes, site availability, seamless integration of various services, clear layout, and comprehensive information are essential features that retail users look for in digital banking platforms. The investment in application development and maintenance, system

HSBC maintained its position as the largest bank in the United Kingdom by market capitalization from 2001 to 2024. On December 31, 2024, HSBC's market capitalization reached approximately 176.71 billion U.S. dollars, recovering to pre-pandemic levels and reinforcing its status as the largest European bank by market value. Bank market valuations during the pandemic The coronavirus pandemic significantly impacted global banking market capitalizations. In early 2020, the largest European banks experienced sharp declines in market value due to economic uncertainty. The worldwide banking market saw a substantial drop in market capitalization during 2020, with most major banks experiencing similar trends. However, the market began recovering throughout 2021, with banks gradually returning to pre-pandemic valuation levels. The banking industry in the UK The UK banking industry is led by five major chartered banks, increasingly challenged by digital banks like Starling and Monzo. Despite losing some customers domestically, HSBC remains significant - the largest bank in the United Kingdom and one of the world's largest financial institutions.

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Open Banking Market Size 2024-2028

The open banking market size is forecast to increase by USD 57.66 billion at a CAGR of 27.2% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for advanced Financial Management Tools that offer real-time access to Financial Data from multiple Financial Institutions. Open Banking Solutions, which utilize Open Banking APIs, enable automated savings, real-time transactions, and enhanced security features. The integration of Artificial Intelligence (AI) into these services further streamlines financial management and enhances personalized customer experiences. However, the handling of sensitive personal financial data necessitates strict adherence to guidelines and regulations to ensure data security and privacy. Key market trends include the growing preference for faster and more seamless payment processing, increased focus on data security, and the potential for increased competition among Financial Institutions as they adapt to the Open Banking landscape.

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Open banking, a financial services model that enables third-party providers to access customers' financial data through APIs, is revolutionizing the payment ecosystem. This innovative approach allows for more customer-centric services, personalized financial offerings, and informed financial decisions. Broadband connectivity plays a crucial role in the open banking landscape, ensuring seamless access to real-time data for machine learning algorithms and AI applications. These technologies are integral to the open banking model, as they enable advanced data analytics and the development of innovative financial services. Security is a top priority in the market. Financial institutions are investing heavily in advanced security measures to protect sensitive customer data from online fraud. AI and machine learning algorithms are being employed to detect and prevent fraudulent activities in real-time. E-commerce and open banking are natural partners, with the former benefiting from the real-time financial data access provided by the latter.

Further, open banking APIs are the backbone of this new financial services model, allowing for seamless integration between financial institutions and third-party service providers. These APIs enable the sharing of financial data in a secure and standardized manner, facilitating the development of innovative financial services. Personalized financial services are a key benefit of open banking. By leveraging big data analytics and AI, financial institutions can offer customized offerings tailored to individual customers' financial needs and preferences. In conclusion, open banking is transforming the payment ecosystem by enabling real-time data access, advanced data analytics, and the development of innovative financial services. With a focus on security and customer-centricity, this model is poised to disrupt traditional financial services and reshape the industry landscape.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Service

  Banking and capital markets
  Payments
  Digital currencies


Deployment

  On premise
  Cloud


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Service Insights

The banking and capital markets segment is estimated to witness significant growth during the forecast period. The market is revolutionizing the banking and financial services sector in the global payment ecosystem. Through strategic collaborations and innovative service offerings, Open Banking is enhancing payment processes, expanding investment accessibility, and promoting financial inclusion. In June 2024, Euronet, a leading financial technology and payments provider, partnered with Fintech Galaxy to introduce a new Banking as a Service (BaaS) offering. This collaboration aims to deliver faster, more secure, and cost-effective account-based transactions for banks, fintechs, and merchants. Key features of this service include card as a service, real-time payment processing, and advanced fraud detection. By integrating with consumer bank accounts, this solution reduces transaction costs and promotes financial inclusion, while also driving the adoption of digital transactions in the European region.

The integration of Artificial Intelligence (AI) and Machine Learning (ML) in Open Banking is further fueling the growth of the market. Big data analytics is enabling financial institutions to gain valuable insights into customer behavior and preferences, leading to personalized services and improved customer experience. The use of Open Banking is

The European Challenger Banks Market is segmented by services offered (Payments, Savings Products, Current Account, Consumers Credits, Loans and Others), By end-user type (Business Segment and Personal Segment) and By Geography (UK, Germany, France, Italy, Spain, Netherlands, and Rest of Europe). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

The United Kingdom banking as a service (BaaS) platform business size is set to reach US$ 1,545.25 million in 2023. Over the projection period, demand for banking as a service platform solutions is predicted to rise with a CAGR of 16.8%, taking the total valuation in the country to US$ 7,292.29 million by 2033.

2018 to 2022 United Kingdom Banking as a Service Platform Demand Outlook Vs. 2023 to 2033 Forecast

Semi Annual Update

Category-wise Insights

Scope of Report

This statistic shows the market share of loans and deposits offered on the banking market in Great Britain, by challenger retail banks from the second half of 2011 to the second half of 2013. In the second half of 2013, the market share of loans amounted to 2.1 percent, and the market share of deposits amounted to two percent.

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Third-Party Banking Software Market Size 2025-2029

The third-party banking software market size is forecast to increase by USD 10.56 billion at a CAGR of 6.6% between 2024 and 2029.

The global third-party banking software market is expanding steadily, driven by the growing adoption of digital payment solutions and advancements in cloud computing. Key factors include a shift in consumer behavior toward mobile and online banking, increasing the need for efficient transaction management and information services, and the integration of analytics, which enhances decision-making and customer insights for financial institutions.
This report provides a comprehensive resource for businesses, detailing market size, growth forecasts through 2029, and key segments like core banking software, which leads due to its critical role in managing essential banking operations. It explores trends such as the rising use of AI-driven tools for personalized banking services and addresses challenges like data privacy concerns, which remain a significant hurdle amid increasing digitization. The analysis is tailored for practical applications in strategy, operational efficiency, and customer engagement.
For companies aiming to stay competitive in the global third-party banking software market, this report offers actionable data and insights into leveraging digital trends and navigating security challenges, ensuring they can adapt to a rapidly evolving financial landscape.

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Big data analytics is another significant trend, enabling banks to gain valuable insights from their data and improve customer experience. Third-party banking software providers offer a range of solutions to cater to the varying needs of commercial and retail banks. These solutions help banks streamline their operations, improve customer service, and enhance data security. The market is expected to continue growing as banks seek to leverage digital technology to remain competitive and meet evolving customer demands.

How is this Third-Party Banking Software Industry segmented?

The third-party banking software industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Core banking software
  Omnichannel banking software
  Business intelligence software
  Wealth management software


Deployment

  On-premises
  Cloud


Application

  Risk Management
  Information Security
  Business Intelligence


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan
    South Korea


  South America



  Middle East and Africa

By Type Insights

The core banking software segment is estimated to witness significant growth during the forecast period. The market encompasses advanced analytical tools and solutions for financial transaction tracking, bookkeeping, core banking systems, and operational efficiency. Core banking software, a segment of this market, facilitates multi-channel access to banking services through ATMs, computers, smartphones, and the internet. The retail banking sector's expansion, fueled by government initiatives and consumer behavior shifts, is a significant growth factor. Core banking software enables seamless digital experiences, such as mobile banking apps, online account management, and customer experience management.

Business intelligence, risk management, and wealth management software are also integral parts of the market, offering advanced features like artificial intelligence and big data analytics. Companies in this industry collaborate to offer integrated solutions, such as the Cyberbank platform, enabling digital transformation and regulatory compliance. The market's growth is further influenced by industry trends, IT infrastructure advancements, and geographic expansion.

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The core banking software segment was valued at USD 8.14 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American the market is projected to expand due to the region's technological advancements and early adoption of innovative technologies. Leading investment banks are investing in technology to enhance customer service. Cloud-computing applications, such as databas

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Core Banking Software Market Size 2025-2029

The core banking software market size is forecast to increase by USD 56.39 billion at a CAGR of 30.8% between 2024 and 2029.

The market is witnessing significant growth due to technological advancements, with the adoption of cloud-based solutions becoming increasingly popular. These solutions offer scalability, cost-effectiveness, and enhanced flexibility for financial institutions. Another trend driving market growth is the modernization and integration of legacy systems with existing infrastructure. In the realm of fintech, network security remains a top priority, with multi-factor authentication, artificial intelligence, machine learning, and big data playing crucial roles in ensuring security. Open banking and information services are also gaining traction, with chatbots and generative artificial intelligence enhancing customer experience. As the financial sector continues to evolve, core banking software will remain a key component, enabling wealth management, led by continuous innovation and integration of advanced technologies.

What will be the Size of the Core Banking Software Market during the forecast period?

Request Free SampleThe market encompasses solutions designed to support the mission-critical banking functions of financial institutions. These systems facilitate a range of transactions, from basic account management to complex lending and borrowing operations. Market dynamics are driven by evolving customer needs, with an increasing emphasis on omnichannel banking access, including online and mobile channels. Banks require centralized, integrated systems to manage multiple branches and streamline turnaround times. Technology requirements include support for high transaction volumes, cloud-based solutions, and AI-integration. Core banking software enables banking organizations to offer a comprehensive suite of services, from deposit and loan management to compliance and risk mitigation.The market continues to grow, driven by the need for efficient, flexible, and scalable solutions to meet the demands of modern banking firms.

How is this Core Banking Software Industry segmented?

The core banking software industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. DeploymentOn-premisesCloudEnd-userBanksFinancial institutionsGeographyNorth AmericaCanadaUSEuropeGermanyUKFranceItalyAPACChinaIndiaJapanSouth AmericaBrazilMiddle East and Africa

By Deployment Insights

The on-premises segment is estimated to witness significant growth during the forecast period.The global Core Banking Software (CBS) market has predominantly relied on on-premise deployment through 2024, catering to specific market demands and regulatory requirements such as GDPR and PCI-DSS. Large financial institutions with complex infrastructure benefit from on-premise solutions due to enhanced control, security, and customization options. Concerns regarding data protection and compliance drive organizations towards on-premise CBS. Despite the escalating popularity of cloud-based alternatives, on-premise deployment remains the market leader, offering financial institutions worldwide a reliable and flexible solution. Key features of CBS include real-time processing, transaction monitoring, loan accounting, and loan management processes. Integration, software deployment, project management, and technology requirements are essential considerations.The CBS market incorporates fintech technologies like AI, Big Data, and visualization capabilities to improve operational efficiency and customer engagement. Security features, such as network security and protection against unencrypted data, application vulnerabilities, mobile malware, and credit unions, corporate banks, and financial institutions' cyber-attacks, are crucial. CBS solutions are available in various deployment models, including SaaS/hosted and licensed, catering to the needs of large banks, community banks, retail banking, treasury, wealth management, and digital businesses. The focus on digitized operations, banking service quality, turnover times, customer needs, and omnichannel banking access continues to drive the market forward.

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The On-premises segment was valued at USD 6.41 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 36% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The

ExactOne delivers unparalleled consumer transaction insights to help investors and corporate clients uncover market opportunities, analyze trends, and drive better decisions.

Dataset Highlights - Source: Debit and credit card transactions from 600K+ active users and 2M accounts connected via Open Banking. Scale: Covers 250M+ annual transactions, mapped to 1,800+ merchants and 330+ tickers. Historical Depth: Over 6 years of transaction data. Flexibility: Analyse transactions by merchant/ticker, category/industry, or timeframe (daily, weekly, monthly, or quarterly).

ExactOne data offers visibility into key consumer industries, including: Airlines - Regional / Budget Airlines - Cargo Airlines - Full Service Autos - OEMs Communication Services - Cable & Satellite Communication Services - Integrated Telecommunications Communication Services - Wireless Telecom Consumer - Services Consumer - Health & Fitness Consumer Staples - Household Supplies Energy - Utilities Energy - Integrated Oil & Gas Financial Services - Insurance Grocers - Traditional Hotels - C-corp Industrial - Tools And Hardware Internet - E-commerce Internet - B2B Services Internet - Ride Hailing & Delivery Leisure - Online Gambling Media - Digital Subscription Real Estate - Brokerage Restaurants - Quick Service Restaurants - Fast Casual Restaurants - Pubs Restaurants - Specialty Retail - Softlines Retail - Mass Merchants Retail - European Luxury Retail - Specialty Retail - Sports & Athletics Retail - Footwear Retail - Dept Stores Retail - Luxury Retail - Convenience Stores Retail - Hardlines Technology - Enterprise Software Technology - Electronics & Appliances Technology - Computer Hardware Utilities - Water Utilities

Use Cases

For Private Equity & Venture Capital Firms: - Deal Sourcing: Identify high-growth opportunities. - Due Diligence: Leverage transaction data to evaluate investment potential. - Portfolio Monitoring: Track performance post-investment with real-time data.

For Consumer Insights & Strategy Teams: - Market Dynamics: Compare sales trends, average transaction size, and customer loyalty. - Competitive Analysis: Benchmark market share and identify emerging competitors. - E-commerce vs. Brick & Mortar Trends: Assess channel performance and strategic opportunities. - Demographic & Geographic Insights: Uncover growth drivers by demo and geo segments.

For Investor Relations Teams: - Shareholder Insights: Monitor brand performance relative to competitors. - Real-Time Intelligence: Analyse sales and market dynamics for public and private companies. - M&A Opportunities: Evaluate market share and growth potential for strategic investments.

Key Benefits of ExactOne - Understand Market Share: Benchmark against competitors and uncover emerging players. - Analyse Customer Loyalty: Evaluate repeat purchase behavior and retention rates. - Track Growth Trends: Identify key drivers of sales by geography, demographic, and channel. - Granular Insights: Drill into transaction-level data or aggregated summaries for in-depth analysis.

With ExactOne, investors and corporate leaders gain actionable, real-time insights into consumer behaviour and market dynamics, enabling smarter decisions and sustained growth.

As the United Kingdoms largest bank, HSBC accounted for almost half of all profits made by banks in 2018. The UK's six largest banks accounted for over 90 percent of the total profits made. HSBC is not only the UK's largest bank but is the biggest in Europe.

The United Kingdom Auto Loan Market Report is Segmented by Product (passenger Vehicles, Commercial Vehicles), Ownership (new Vehicles, Used Vehicles), Provider Type (banks, Non-Banking Financial Companies, Original Equipment Manufacturers, Credit Unions, Other Provider Types), and Tenure (less Than Three Years, 3-5 Years, More Than Five Years). The Report Offers Market Size and Forecasts for the United Kingdom Auto Loan Market in Value (USD) for all the Above Segments.