Boston, January 29, 2013 – A new report from Aite Group analyzes the state of the global core system replacement market and the key trends shaping its future. Based on information provided by 15 leading global core system vendors, the report forecasts core replacement volume over the next few years and compares the key strategies and offerings of leading core system providers around the globe.
Though the global core replacement market has been growing slowly for the last few years, Aite Group forecasts increased momentum going forward. All banks, regardless of size and geographic location, need to be able to quickly launch new products, address the increasingly demanding needs of customers and regulators, and operate as efficiently and cost effectively as possible in today's challenging economic environment. Such requirements are driving more and more core system replacements around the globe.
“Core replacement is a high-risk, high-cost endeavor, so financial institutions must plan and govern throughout the implementation to ensure that existing business processes are adjusted to support the new system,” says Christine Barry, research director with Aite Group and co-author of this report.
“As pricing pressures increase, vendors should build value by introducing new functionality,” adds David Albertazzi, senior analyst with Aite Group and author of this report. “Usability and scalability will remain vital to retaining clients and growing market share.”
This report profiles the following core system vendors: Accenture (Alnova), CSC, ERI Bancaire, FIS, ICS Financial Systems Ltd. (ICSFS), Infosys, InfraSoft Technologies, Misys, Oracle, Path Solutions, Polaris, SAP, SunGard, Tata Consultancy Services (TCS), and Temenos.
This 64-page Impact Report contains 11 figures and 23 tables. Clients of Aite Group’s Wholesale Banking or Retail Banking service can download the report by clicking on the icon to the right.