The major banks in Eastern Europe are currently trying to enhance the end-to-end customer experience by gradually adopting advanced technologies such as blockchain, AI, etc. to offer digital products in the market. These strategic initiatives are estimated to boost the core banking solutions market growth. Moreover, the increasing demand for the upgradation and replacement of the legacy system is influencing a positive impact on the Core Banking market.
According to the MarkNtel Advisors’ research report titled “Eastern Europe Core Banking Market Analysis, 2020” the Core Banking market size of Eastern Europe is forecast to register a considerable CAGR during 2020-25.
The paradigm shift of banks toward cloud technology on account of increasing data volume, reduction in carbon footing and rising scalability are contributing toward the growth of the core banking solution market.
In 2019, Hungary dominated the market of core banking solution market on an account of increasing penetration toward mobile banking and online payments, along with a gradual adoption of advanced technologies is projected to proliferate the market of core banking solutions. Moreover, other countries like Poland, Romania, etc. are also inclining toward the adoption of innovative technology such as RPA, AI, etc.
According to MarkNtel Advisors, the key players with a considerable share in the industry are Finastra, Diasoft, Asseco, Avlog DXC technologies, Oracle, Temenos, FIS, etc. The companies are increasing their presence in the region by providing their core banking solution in the regional banks. For instance, in 2017, Slovenia's bank Nova Kreditna Banka Maribor selected the Asseco core banking solution.
Moreover, it is witnessed that while local core banking vendors dominate the market, other international players are also trying to make their presence in the region.
“Eastern Europe Core Banking Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots and growth opportunities available for Core Banking providers across eastern Europe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Key questions answered in the study:
1. What are the current and future trends in the Eastern Europe Core Banking market?
2. How the market has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Eastern Europe Core Banking market?
5. What are the customer orientation, purchase behavior, and expectations from the Core Banking provider across various regions?