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Europe Core Banking Software Market

Europe Core Banking Software Market: Information by Solution (Deposits, Loans), Services (Professional Services), Deployment (On-Premise, Cloud), End-Use (Banks), and Regions (France, Italy, Spain)-Forecast Till 2030 

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Market Overview

The Europe core banking software market size was valued at USD 3,775.49 million in 2022 and is projected to reach USD 13,884.19 million by 2031, registering a CAGR of 13.7% from 2023 to 2031.

The European Core Banking Software market is a dynamic industry with a sizable market. "Core banking software" refers to banks' programs to control various aspects of their day-to-day business, such as account management, customer relationship management, transactions, and other financial processes.

The growing use of digital banking services, which has increased demand for real-time banking solutions, is one of the main contributing reasons. Additionally, the need for automation in banking operations is fueled by the demand for central banking software solutions that can assist banks in streamlining their processes and cutting costs.


  • Enterprise Customer Solutions dominate the market by solution. 
  • Professional Service dominates the market by Service.
  • On-premise dominate the market by Deployment
  • The bank segment dominates the market by end-use.

Market Snapshot

Base Year:
Study Period:
13.7 %
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Market Dynamics

Europe Core Banking Software Market Drivers:

Rise in Mobile Banking

Due to the growing popularity of smartphones and other mobile devices, customers are now searching for mobile banking options that can be accessed anywhere. Mobile banking features in Core Banking Software are highly sought-after, particularly among younger customers who favor mobile banking.

By allowing customers to conduct banking transactions without physically visiting a branch, mobile banking solutions can help banks reach new customers, increase customer happiness, and lower costs. In Europe, there is a high demand for Core Banking Software solutions that provide mobile banking capabilities like mobile payments, mobile check deposits, and account balance notifications.

Need for Automation in Banking Operations

Demand for Core Banking Software solutions that can help automate processes is growing as banks are pressured to cut costs and increase efficiency. Banks can improve efficiency and cut expenses by reducing manual processes, streamlining workflows, and increasing productivity with Core Banking Software options.

Core banking software solutions, for instance, can assist in automating processes like account opening, client onboarding, and transaction processing. When performed manually, these duties can be time-consuming and expensive, but banks can automate these procedures and increase productivity with core banking software.

Europe Core Banking Software Market Restraints:

Integration Challenges

Integrating Core Banking Software solutions with existing IT systems and applications can be complicated. Banks can be time-consuming and expensive to verify that their basic banking software solution is compatible with their current infrastructure and applications.

The systems may be built on various technologies or platforms, and integrating Core Banking Software solutions with current IT systems can take time and effort. Due to this, it may be challenging to transfer data between platforms or guarantee that it is accurate and current. Additionally, the integration procedure might necessitate intensive customization and development work, which can be expensive and time-consuming.

Europe Core Banking Software Market Opportunities:

Regulatory Compliance

As a result of the General Data Protection Regulation (GDPR) and the Revised Payment Services Directive (PSD2), European banks are liable to an increasing number of laws and compliance mandates. Core banking software options that provide compliance tools and features can assist banks in meeting these requirements and avoiding fines and penalties.

By the GDPR, which went into force in May 2018, banks must implement stringent data protection policies and ensure that customer data is handled, stored, and processed securely. Banks can fulfill these requirements using Core Banking Software solutions that provide GDPR-compliant features and tools, such as data encryption, access limits, and data retention policies.

Segmental Analysis

The Europe core banking software market is segmented by solution, Service, Deployment, and end-use.

The solution is further segmented into deposits, loans, enterprise customer solutions, and others.

The enterprise customer solutions segment dominated the North American market and is expected to register a CAGR of 6.2% over the forecast period.

The segment can be further bifurcated by Service into professional and managed Services.

The professional service segment dominated the market in 2020 and is anticipated to grow at a CAGR of 11.4% over the forecast period.

Based on Deployment, the market is sub-segmented into on-premise and cloud.

The on-premise segment dominated the market and is expected to grow at a CAGR of 6.4% during the forecast period.

Based on end-use, the market is sub-segmented into banks, financial institutions, and others.

The bank's segment is expected to dominate the market, registering the highest CAGR of 7.7% over the forecast period.

Find Regional level market intelligence here !

Regional Analysis

The core banking software market in Europe is characterized by intense rivalry, with many long-standing players and recent entrants vying for market share. In the upcoming years, the market is anticipated to continue expanding due to rising demand for digital banking solutions, expanding use of cloud-based services, and emerging countries.

In a nutshell, The UK, Germany, and France are the industry leaders in Western Europe, where most Core Banking Software is sold. High levels of digitalization are present in the area, and a sizable percentage of the populace uses online banking services. The expansion of the Core Banking Software industry has also been aided by the region's abundance of well-established banks and financial institutions. At the same time, the Core banking software is seeing development in Eastern Europe, where nations like Poland, Russia, and Ukraine have promising futures. Additionally, Southern Europe is a developed market for core banking software, with countries like Greece, Italy, and Spain exhibiting consistent development in recent years. Furthermore, Northern Europe's demand for essential banking software is expanding quickly, with nations like Sweden, Norway, and Denmark dominating the sector. High levels of digitalization are present in the area, and a sizable percentage of the populace uses online banking services.  

Regional Growth Insights Download Free Sample

Top Key Players of Europe Core Banking Software Market

  1. Temenos
  2. Oracle
  3. SAP
  4. Capgemini
  5. Finastra
  6. Infosys 

Report Scope

Report Metric Details
CAGR 13.7%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Solutions
    1. Deposits
    2. Loans
    3. Enterprise Customer Solutions
    4. Others
  2. By Service
    1. Professional Service
    2. Managed Service
  3. By Deployment
    1. On-premise
    2. Cloud
  4. By End-Use
    1. Banks
    2. Financial institutions
    3. Others

Recent Developments

  • February 2023, With Qualcomm's assistance, Schneider Electric and Capgemini worked together to speed up 5G industrial automation.
  • November 2022, Temenos reached 850 customers on its digital banking platform.

Europe Core Banking Software Market Segmentation

By Solutions

  • Deposits
  • Loans
  • Enterprise Customer Solutions
  • Others

By Service

  • Professional Service
  • Managed Service

By Deployment

  • On-premise
  • Cloud

By End-Use

  • Banks
  • Financial institutions
  • Others

Frequently Asked Questions (FAQs)

How big is the europe core banking software market?
The Europe core banking software market size was valued at USD 3,775.49 million in 2022 and is projected to reach USD 13,884.19 million by 2031, registering a CAGR of 13.7% from 2023 to 2031.
Key verticals adopting the europe core banking software market include: Temenos, Oracle, SAP, Capgemini, Finastra, Infosys.
Rise in mobile banking and need for automation in banking operations is the key driver for the growth of the europe core banking software market.
Regulatory compliance is one of the upcoming key trends in the europe core banking software market.
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