Core Banking Software Market Size, Share, Growth Analysis, By Deployment(SaaS/Hosted, Licensed), By Banking Type(Large Banks, Midsize Banks), By End-User(Retail Banking, Treasury) - Industry Forecast 2024-2031

Core Banking Software Market Driver

• Due to the rapid technological developments various platforms have been integrated for efficient working of organizations. This includes the cloud-based technology that has been incorporated in most organizations, which further makes it easier for SaaS solutions that are required to process various kinds of transactions that are taking place. This will boost the global core banking software market during the forecast period.
• With the increase in population, there is a rapid surge in people being employed, furthermore, with this, the demand for people using bank accounts has increased, which has resulted in an increase in demand for safety concerns to avoid fraudulent activities among the population for various transactions that are taking place in an organization. This will also boost the growth of the global core banking software market.

Core Banking Software Market Restraint

• With the high usage of core banking software, there is rising concern among the people for their privacy and some of the transactions taking place are on public domain cloud systems that are not well protected hence, these are not considered safe by the users. Therefore, this can be a hindrance to the growth of the global core banking software market.