Boston, MA, August 25, 2008
– A new report from Aite Group, LLC examines the key growth strategies of leading global core banking vendors, and analyzes the regions in which they plan on focusing the most attention over the next few years. The report includes profiles of 10 of the leading global core vendors.
|
Aite Group forecasts that approximately 30% of total global core system replacement revenues will be generated by North American banks by 2010, though the EMEA region will continue to see the greatest activity. Over the past few years, almost every
large global core banking vendor has adopted a growth strategy that includes penetrating the U.S. core system replacement market. While some global vendors have achieved great success in this market with other product offerings and services, others have achieved little to no success in
convincing U.S. banks to replace their core systems with their offerings. Several of these vendors believe this will change going forward as a result of advances in technology, new strategies, and a greater level of urgency for banks to replace their systems in order to remain
competitive. Others are not as optimistic, and have lessened their focus on the U.S. market in favor of other regions, where they see greater replacement activity. Aite Group finds that while opportunities exist in the United States for some global core vendors, overall performance
and core replacement success are not necessarily contingent on a vendor's ability to penetrate this market. Some vendors will, in fact, achieve greater success in other parts of the world.
"The slow volume of core system replacements in the U.S. market - especially at large banks - does not necessarily mean vendors should focus their attention elsewhere," says Christine Barry,
research director with Aite Group and author of this report. "Those seeking to grow their footprints in the highly competitive U.S. core replacement market should examine existing relationships, identify potential partners, broaden their set of product offerings, and
practice patience. Those that choose not to enter the market will find ample opportunity for growth in Europe and the Middle East."
This 47-page Impact Report contains 23 figures and one table. It profiles 10 of the leading global core vendors, including: Fidelity Information Services (FIS), Financial Objects, Infosys, Misys, Oracle, Polaris, SAP, SunGard, Tata Consulting Services (TCS) and Temenos.
Clients of Aite Group's Wholesale and Retail Banking services can download the report by clicking on the icon to the right.
|
