target audience: TECH BUYER Publication date: Sep 2024 - Document type: IDC MarketScape - Doc Document number: # EUR150463623
IDC MarketScape: Europe, Middle East, and Africa Digital Core Banking Platforms 2024 Vendor Assessment
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Abstract
This IDC MarketScape delves into digital-native core banking solutions from a broad perspective. This comprehensive research involves quantitative and qualitative analysis of 15 vendors. It explores the various features and characteristics defining these vendors' capabilities in supporting banks to operate the fundamental processes related to daily banking transactions (e.g., interest calculation, posting updates to accounts, interfaces to the general ledger, various reporting applications).
Using a standardized framework, we identify key parameters that contribute to success in providing cutting-edge applications for the short and long term. This assessment can be used as a guide for industry players when selecting the most suitable solution, empowering them to thrive in this dynamic landscape and fostering innovation. We assess vendors' organizational visions and road maps to form a view on their ability to deliver in the short and long term.
"In the ever-evolving landscape of core banking solutions, embracing change is not a choice but a necessity. Banks of all kinds — across different market spaces in Europe, the Middle East, and Africa — face challenges ranging from mounting regulatory pressures to complex risk assessments to rising customer expectations. To navigate these hurdles and thrive in the digital age, modern, digital-native core banking solutions emerge as a beacon of hope. Banks can enhance their agility, offer more personalized products, and deliver seamless customer experiences by modernizing the core of what they do through digital-native core banking solutions." — Research Director George Briford, IDC Financial Insights