target audience: TECH BUYER Publication date: Sep 2024 - Document type: IDC MarketScape - Doc Document number: # AP50463723
IDC MarketScape: Asia/Pacific Digital Core Banking Platforms 2024 Vendor Assessment
Content
List of Tables
List of Figures
Get More
When you purchase this document, the purchase price can be applied to the cost of an annual subscription, giving you access to more research for your investment.
Related Links
Abstract
This IDC MarketScape takes a deep dive into the digitally native core banking solutions that are the most important players in the Asia/Pacific market. This comprehensive research is the result of quantitative and qualitative analysis of the 15 vendors for digital core banking solutions and explores the various features and characteristics that define the capabilities of the solutions in allowing banks to both operate and innovate the fundamental processes related to daily banking transactions, such as interest calculations, account updates, and interfaces to the general ledger and various reporting applications. Using a standardized framework for assessments, this report aims to serve as a key reference point for digitally native core banking solutions, enabling them to make informed decisions regarding their technology and thrive in today and tomorrow's evolving and dynamic financial landscapes. Our assessment also includes information regarding vendor visions and road maps that allow for insight into their ability to deliver on their solutions and services in the short- and long-term time frames.
"Transformation requires modern and capable core infrastructure as the engine and driver for driving change. Banks face a multitude of issues with increasing complexities in daily operations, coupled with the need to develop innovative new products and services that can deliver today and tomorrow's promises to customers. Changing the core banking solution for most banks, though, remains one of the, if not the single, biggest operations that any bank can undertake, and the risks and time frames involved in implementation have led many banks to put off upgrades. Our research into digitally native core banking solutions for Asia/Pacific reveals the new options, such as co-habitation, multiple cores, and flexible cores that have emerged, now offer a whole new range of possibilities for banks looking to upgrade their capabilities, enhance their agility, and drive new revenue through new and more customized products. Modernization of the core has now become a much more approachable topic, and vendors are bringing highly exciting new propositions that can enable banks to blast beyond their current capabilities," says Michael Yeo, associate research director, IDC Financial Insights.