UAE Core Banking Solutions Market Size Boosting The Growth Worldwide | NCR Corporation, Oracle, SAP SE, SDK.finance, Tata Consultancy Services Limited

Core banking solutions (CBS) enables execution of routine transactions such as withdrawal, passbooks, cash deposits, statements of accounts, and demand drafts. In addition, it largely engages in networking of branches & allows customers to avail banking services & operate their accounts from any branch of the bank on a single platform, provided by CBS network. Moreover, core banking solutions help to meet dynamically changing market & customer needs, improve & simplify banking processes, speed up banking transactions, and expand presence in rural & remote areas. Furthermore, core banking solutions rely on computer & internet technology to deliver streamlined banking service experience to customers.

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Surge in adoption of technologies such as application programming interfaces (APIs), data analytics, artificial intelligence, cloud computing, and robotic process automation (RPA) to modernize banking functionality and provide real-time banking services. These factors, as a result drive the core banking solutions market growth. Moreover, rapid change in consumer behavior & preferences toward availing banking products & services has led banks to enhance their existing product lines by implementing core banking solutions to provide cost-effective & efficient banking services in the country. However, lack of awareness toward core banking solutions and high technology maintenance cost are some of the factors that hamper the market growth.

On the contrary, surge in mergers & acquisitions among banks & financial institutions, which are adopting new approaches for on-going business operations rather than rebuilding from scratch, are expected to enhance automated banking services on a single platform in the country. Banks & financial institutions require modernization of core banking systems and such mergers & acquisitions further propel adoption of these systems.

The UAE core banking solutions market is segmented on the basis of component, deployment model, enterprise size, solution type, and end user. On the basis of component, the market is bifurcated into solution and service. In addition, services segment is further segmented into implementation & integration service, support & maintenance service, and consulting service. In terms of deployment model, it is divided into on-premise and cloud. Based on enterprise size, the market is segmented into large enterprises and small & medium enterprises (SMEs). By solution type, it is segmented into enterprise customer solutions, loans, deposits, and others. On the basis of end user, the market is segmented into banks, credit unions & community banks, and others.

Key benefits for stakeholders
- The study provides in-depth analysis of the UAE core banking solutions market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the market size are provided in the report.
- Porters five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the UAE core banking solutions market from 2020 to 2027 is provided to determine the market potential.

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Key market players
- Capital Banking Solutions
- EdgeVerve Systems Limited
- Finastra
- Fiserv, Inc.
- NCR Corporation
- Oracle
- SAP SE
- SDK.finance
- Tata Consultancy Services Limited
- Temenos Headquarters SA

Key market segments
By Component
- Solution
- Service
o Implementation & Integration Service
o Support & Maintenance Service
o Consulting Service

By Deployment Model
- On-premise
- Cloud

By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)

By Solution Type
- Enterprise Customer Solutions
- Loans
- Deposits
- Others

By End User
- Banks
- Credit Unions & Community Banks
- Others

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