세계의 SaaS 기반 코어 뱅킹 소프트웨어 시장 규모, 점유율, 성장 및 산업 분석 : 유형별, 용도별, 지역별 인사이트 및 예측(2024-2032년)

Growth Factors of SaaS-based core banking software Market

The global SaaS-based core banking software market is transforming the banking landscape as financial institutions accelerate their shift toward cloud-based, digitally enabled banking ecosystems. According to the latest research, the global market size reached USD 11.21 billion in 2024, driven by the adoption of subscription-based banking solutions, reduced infrastructure costs, and increased demand for real-time digital banking services. The market is projected to grow to USD 13.20 billion in 2025 and is forecast to achieve USD 46.03 billion by 2032, expanding at a strong CAGR of 19.5% during 2025-2032. North America was the leading region in 2024, accounting for 44.07% of the global share due to high digital adoption and the presence of advanced financial institutions.

SaaS-based core banking platforms eliminate the need for banks to manage hardware, reduce operational pressures, and enable scalability at lower costs. According to industry experts, banks that shifted to SaaS architectures saw up to 40% savings in infrastructure and maintenance expenses compared to legacy systems. Growing digital preference further supports market growth; as of 2024, 76% of banking customers prefer digital-first services, while approximately 70% of financial institutions reported that improved compliance and security were the primary motivations for adopting SaaS platforms.

Impact of Generative AI and Tariff Regulations

Generative AI is revolutionizing the SaaS-based core banking environment by automating code development, accelerating product innovation, and enabling AI-generated logic for customer onboarding, fraud monitoring, loan assessment, and transaction analysis. Its ability to deliver instant insights, generate detailed reports, and personalize banking recommendations is helping banks enhance efficiency while improving customer experience.

However, reciprocal tariffs pose potential challenges. SaaS providers rely heavily on global cloud infrastructure, third-party technology tools, and imported hardware. Tariff-driven cost escalations can strain procurement, raise subscription pricing, and disrupt expansion strategies. Increased prices for cloud services or software imports could indirectly affect SaaS vendors' competitiveness in cost-sensitive regions.

Market Trends

API-driven open banking continues to be one of the strongest trends supporting market growth. As global financial ecosystems evolve, banks increasingly prioritize open banking, enabling third-party providers to access financial data through secure APIs. This has led to a surge in banking-as-a-service models and integrated financial offerings. According to Finastra, 85% of banks consider open banking a strategic priority, while API call volumes rose 385% in 2022, fueling rapid adoption across Europe and beyond.

Demand for hyper-personalization is also rising, with customers expecting intuitive, real-time digital experiences. Banks using SaaS-powered personalization solutions have achieved 40% higher engagement and 30% lower attrition rates, highlighting the competitive advantage of cloud-native platforms.

Market Dynamics

Drivers

Rising digital transactions, growing mobile-first banking, and customer demand for frictionless digital journeys are driving market growth. Banks increasingly deploy SaaS-based platforms to enhance operational resilience, enable instant processing, and support omnichannel engagement.

Restraints

Despite rapid digitization, many banks remain cautious due to concerns over data privacy, cyber risks, and regulatory penalties. Hosting sensitive financial data off-premises continues to be a major concern, limiting adoption in conservative markets.

Opportunities

Emerging economies, particularly in Asia Pacific, Africa, and South America, offer strong growth opportunities. With large underbanked populations and government-backed financial inclusion programs-such as India's Pradhan Mantri Jan Dhan Yojana-SaaS-based solutions are well positioned to support low-cost, mobile-first banking expansion.

Segmentation Summary

By Deployment

• Public Cloud dominated in 2024 due to on-demand scalability and reduced downtime.
• Hybrid Cloud is expected to grow fastest as banks balance compliance requirements with cloud flexibility.

By Banking Type

Large banks led the market in 2024, driven by massive transaction loads and the need for real-time, digital-first operations. Community banks are expected to record the highest CAGR due to the affordability of subscription-based SaaS models.

By End User

Retail banking held the largest share in 2024 as institutions prioritize fraud detection, AI-driven personalization, and seamless digital experience. Wealth management is expected to grow fastest due to rising demand for digital investment tools.

Regional Outlook

North America

The region generated USD 4.94 billion in 2024, supported by strong digital banking adoption and large-scale cloud transformation programs. The U.S. is projected to experience robust growth, with digital banking users expected to surpass 216.8 million by 2025.

Europe

Europe remains the second-largest market, driven by regulatory compliance, open banking expansion, and rising demand for real-time banking platforms.

Asia Pacific

Asia Pacific will grow fastest due to heavy investments in financial modernization. Core banking upgrades cost USD 50-200 million in the region, emphasizing the shift toward scalable SaaS alternatives.

Middle East & Africa

Banks are increasing IT budgets by 4.4% annually to modernize infrastructure and meet compliance standards.

South America

Growth is supported by over 3,000 fintech startups, boosting demand for cloud-based core banking systems.

Conclusion

With market growth from USD 11.21 billion (2024) to USD 46.03 billion (2032), SaaS-based core banking software is becoming central to digital banking transformation. Cloud-native architectures, generative AI, open banking APIs, and emerging-market expansion will continue driving robust adoption across the global banking ecosystem.

Segmentation By Deployment

• Public Cloud
• Private Cloud
• Hybrid Cloud

By Banking Type

• Large Banks (Greater than USD 30 billion in Assets)
• Midsize Banks (USD 10 billion to USD 30 billion in Assets)
• Small Banks (USD 5 billion to USD 10 billion in Assets)
• Community Banks (Less than USD 5 billion in Assets)
• Credit Unions

By End-User

• Retail Banking
• Treasury
• Corporate Banking
• Wealth Management

By Region

• North America (By Deployment, By Banking Type, By End-User, and By Country)
  • U.S.
  • Canada
  • Mexico
• South America (By Deployment, By Banking Type, By End-User, and By Country)
  • Brazil
  • Argentina
  • Rest of South America
• Europe (By Deployment, By Banking Type, By End-User, and By Country)
  • U.K.
  • Germany
  • Italy
  • France
  • Spain
  • Russia
  • Benelux
  • Nordics
  • Rest of Europe
• Middle East & Africa (By Deployment, By Banking Type, By End-User, and By Country)
  • Turkey
  • Israel
  • GCC
  • South Africa
  • North Africa
  • Rest of Middle East & Africa
• Asia Pacific (By Deployment, By Banking Type, By End-User, and By Country)
  • China
  • Japan
  • India
  • South Korea
  • ASEAN
  • Oceania
  • Rest of Asia Pacific

Table of Content

1. Introduction

• 1.1. Definition, By Segment
• 1.2. Research Methodology/Approach
• 1.3. Data Sources

2. Executive Summary

3. Market Dynamics

• 3.1. Macro and Micro Economic Indicators
• 3.2. Drivers, Restraints, Opportunities and Trends
• 3.3. Impact of Generative AI
• 3.4. Impact of Reciprocal Tariff

4. Competition Landscape

• 4.1. Business Strategies Adopted by Key Players
• 4.2. Consolidated SWOT Analysis of Key Players
• 4.3. Global SaaS-based Core Banking Software Key Players (Top 3 - 5) Market Share/Ranking, 2024

5. Global SaaS-based Core Banking Software Market Size Estimates and Forecasts, By Segments, 2019-2032

• 5.1. Key Findings
• 5.2. By Deployment (USD)
  • 5.2.1. Public Cloud
  • 5.2.2. Private Cloud
  • 5.2.3. Hybrid Cloud
• 5.3. By Banking Type (USD)
  • 5.3.1. Large Banks (Greater than US$30 billion in Assets)
  • 5.3.2. Midsize Banks (US$10 billion to US$30 billion in Assets)
  • 5.3.3. Small Banks (US$5 billion to US$10 billion in Assets)
  • 5.3.4. Community Banks (Less than US$5 billion in Assets)
  • 5.3.5. Credit Unions
• 5.4. By End-User (USD)
  • 5.4.1. Retail Banking
  • 5.4.2. Treasury
  • 5.4.3. Corporate Banking
  • 5.4.4. Wealth Management
• 5.5. By Region (USD)
  • 5.5.1. North America
  • 5.5.2. Europe
  • 5.5.3. Asia Pacific
  • 5.5.4. Middle East & Africa
  • 5.5.5. South America

6. North America SaaS-based Core Banking Software Market Size Estimates and Forecasts, By Segments, 2019-2032

• 6.1. Key Findings
• 6.2. By Deployment (USD)
  • 6.2.1. Public Cloud
  • 6.2.2. Private Cloud
  • 6.2.3. Hybrid Cloud
• 6.3. By Banking Type (USD)
  • 6.3.1. Large Banks (Greater than US$30 billion in Assets)
  • 6.3.2. Midsize Banks (US$10 billion to US$30 billion in Assets)
  • 6.3.3. Small Banks (US$5 billion to US$10 billion in Assets)
  • 6.3.4. Community Banks (Less than US$5 billion in Assets)
  • 6.3.5. Credit Unions
• 6.4. By End-User (USD)
  • 6.4.1. Retail Banking
  • 6.4.2. Treasury
  • 6.4.3. Corporate Banking
  • 6.4.4. Wealth Management
• 6.5. By Country (USD)
  • 6.5.1. United States
  • 6.5.2. Canada
  • 6.5.3. Mexico

7. South America SaaS-based Core Banking Software Market Size Estimates and Forecasts, By Segments, 2019-2032

• 7.1. Key Findings
• 7.2. By Deployment (USD)
  • 7.2.1. Public Cloud
  • 7.2.2. Private Cloud
  • 7.2.3. Hybrid Cloud
• 7.3. By Banking Type (USD)
  • 7.3.1. Large Banks (Greater than US$30 billion in Assets)
  • 7.3.2. Midsize Banks (US$10 billion to US$30 billion in Assets)
  • 7.3.3. Small Banks (US$5 billion to US$10 billion in Assets)
  • 7.3.4. Community Banks (Less than US$5 billion in Assets)
  • 7.3.5. Credit Unions
• 7.4. By End-User (USD)
  • 7.4.1. Retail Banking
  • 7.4.2. Treasury
  • 7.4.3. Corporate Banking
  • 7.4.4. Wealth Management
• 7.5. By Country (USD)
  • 7.5.1. Brazil
  • 7.5.2. Argentina
  • 7.5.3. Rest of South America

8. Europe SaaS-based Core Banking Software Market Size Estimates and Forecasts, By Segments, 2019-2032

• 8.1. Key Findings
• 8.2. By Deployment (USD)
  • 8.2.1. Public Cloud
  • 8.2.2. Private Cloud
  • 8.2.3. Hybrid Cloud
• 8.3. By Banking Type (USD)
  • 8.3.1. Large Banks (Greater than US$30 billion in Assets)
  • 8.3.2. Midsize Banks (US$10 billion to US$30 billion in Assets)
  • 8.3.3. Small Banks (US$5 billion to US$10 billion in Assets)
  • 8.3.4. Community Banks (Less than US$5 billion in Assets)
  • 8.3.5. Credit Unions
• 8.4. By End-User (USD)
  • 8.4.1. Retail Banking
  • 8.4.2. Treasury
  • 8.4.3. Corporate Banking
  • 8.4.4. Wealth Management
• 8.5. By Country (USD)
  • 8.5.1. United Kingdom
  • 8.5.2. Germany
  • 8.5.3. France
  • 8.5.4. Italy
  • 8.5.5. Spain
  • 8.5.6. Russia
  • 8.5.7. Benelux
  • 8.5.8. Nordics
  • 8.5.9. Rest of Europe

9. Middle East & Africa SaaS-based Core Banking Software Market Size Estimates and Forecasts, By Segments, 2019-2032

• 9.1. Key Findings
• 9.2. By Deployment (USD)
  • 9.2.1. Public Cloud
  • 9.2.2. Private Cloud
  • 9.2.3. Hybrid Cloud
• 9.3. By Banking Type (USD)
  • 9.3.1. Large Banks (Greater than US$30 billion in Assets)
  • 9.3.2. Midsize Banks (US$10 billion to US$30 billion in Assets)
  • 9.3.3. Small Banks (US$5 billion to US$10 billion in Assets)
  • 9.3.4. Community Banks (Less than US$5 billion in Assets)
  • 9.3.5. Credit Unions
• 9.4. By End-User (USD)
  • 9.4.1. Retail Banking
  • 9.4.2. Treasury
  • 9.4.3. Corporate Banking
  • 9.4.4. Wealth Management
• 9.5. By Country (USD)
  • 9.5.1. Turkey
  • 9.5.2. Israel
  • 9.5.3. GCC
  • 9.5.4. North Africa
  • 9.5.5. South Africa
  • 9.5.6. Rest of MEA

10. Asia Pacific SaaS-based Core Banking Software Market Size Estimates and Forecasts, By Segments, 2019-2032

• 10.1. Key Findings
• 10.2. By Deployment (USD)
  • 10.2.1. Public Cloud
  • 10.2.2. Private Cloud
  • 10.2.3. Hybrid Cloud
• 10.3. By Banking Type (USD)
  • 10.3.1. Large Banks (Greater than US$30 billion in Assets)
  • 10.3.2. Midsize Banks (US$10 billion to US$30 billion in Assets)
  • 10.3.3. Small Banks (US$5 billion to US$10 billion in Assets)
  • 10.3.4. Community Banks (Less than US$5 billion in Assets)
  • 10.3.5. Credit Unions
• 10.4. By End-User (USD)
  • 10.4.1. Retail Banking
  • 10.4.2. Treasury
  • 10.4.3. Corporate Banking
  • 10.4.4. Wealth Management
• 10.5. By Country (USD)
  • 10.5.1. China
  • 10.5.2. India
  • 10.5.3. Japan
  • 10.5.4. South Korea
  • 10.5.5. ASEAN
  • 10.5.6. Oceania
  • 10.5.7. Rest of Asia Pacific

11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)

• 11.1. Mambu
  • 11.1.1. Overview
    • 11.1.1.1. Key Management
    • 11.1.1.2. Headquarters
    • 11.1.1.3. Offerings/Business Segments
  • 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.1.2.1. Employee Size
    • 11.1.2.2. Past and Current Revenue
    • 11.1.2.3. Geographical Share
    • 11.1.2.4. Business Segment Share
    • 11.1.2.5. Recent Developments
• 11.2. nCino
  • 11.2.1. Overview
    • 11.2.1.1. Key Management
    • 11.2.1.2. Headquarters
    • 11.2.1.3. Offerings/Business Segments
  • 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.2.2.1. Employee Size
    • 11.2.2.2. Past and Current Revenue
    • 11.2.2.3. Geographical Share
    • 11.2.2.4. Business Segment Share
    • 11.2.2.5. Recent Developments
• 11.3. Skaleet
  • 11.3.1. Overview
    • 11.3.1.1. Key Management
    • 11.3.1.2. Headquarters
    • 11.3.1.3. Offerings/Business Segments
  • 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.3.2.1. Employee Size
    • 11.3.2.2. Past and Current Revenue
    • 11.3.2.3. Geographical Share
    • 11.3.2.4. Business Segment Share
    • 11.3.2.5. Recent Developments
• 11.4. Backbase
  • 11.4.1. Overview
    • 11.4.1.1. Key Management
    • 11.4.1.2. Headquarters
    • 11.4.1.3. Offerings/Business Segments
  • 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.4.2.1. Employee Size
    • 11.4.2.2. Past and Current Revenue
    • 11.4.2.3. Geographical Share
    • 11.4.2.4. Business Segment Share
    • 11.4.2.5. Recent Developments
• 11.5. Avaloq
  • 11.5.1. Overview
    • 11.5.1.1. Key Management
    • 11.5.1.2. Headquarters
    • 11.5.1.3. Offerings/Business Segments
  • 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.5.2.1. Employee Size
    • 11.5.2.2. Past and Current Revenue
    • 11.5.2.3. Geographical Share
    • 11.5.2.4. Business Segment Share
    • 11.5.2.5. Recent Developments
• 11.6. Ohpen
  • 11.6.1. Overview
    • 11.6.1.1. Key Management
    • 11.6.1.2. Headquarters
    • 11.6.1.3. Offerings/Business Segments
  • 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.6.2.1. Employee Size
    • 11.6.2.2. Past and Current Revenue
    • 11.6.2.3. Geographical Share
    • 11.6.2.4. Business Segment Share
    • 11.6.2.5. Recent Developments
• 11.7. FIS
  • 11.7.1. Overview
    • 11.7.1.1. Key Management
    • 11.7.1.2. Headquarters
    • 11.7.1.3. Offerings/Business Segments
  • 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.7.2.1. Employee Size
    • 11.7.2.2. Past and Current Revenue
    • 11.7.2.3. Geographical Share
    • 11.7.2.4. Business Segment Share
    • 11.7.2.5. Recent Developments
• 11.8. TCS BaNCS
  • 11.8.1. Overview
    • 11.8.1.1. Key Management
    • 11.8.1.2. Headquarters
    • 11.8.1.3. Offerings/Business Segments
  • 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.8.2.1. Employee Size
    • 11.8.2.2. Past and Current Revenue
    • 11.8.2.3. Geographical Share
    • 11.8.2.4. Business Segment Share
    • 11.8.2.5. Recent Developments
• 11.9. Oracle FLEXICUBE
  • 11.9.1. Overview
    • 11.9.1.1. Key Management
    • 11.9.1.2. Headquarters
    • 11.9.1.3. Offerings/Business Segments
  • 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.9.2.1. Employee Size
    • 11.9.2.2. Past and Current Revenue
    • 11.9.2.3. Geographical Share
    • 11.9.2.4. Business Segment Share
    • 11.9.2.5. Recent Developments
• 11.10. Temenos
  • 11.10.1. Overview
    • 11.10.1.1. Key Management
    • 11.10.1.2. Headquarters
    • 11.10.1.3. Offerings/Business Segments
  • 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.10.2.1. Employee Size
    • 11.10.2.2. Past and Current Revenue
    • 11.10.2.3. Geographical Share
    • 11.10.2.4. Business Segment Share
    • 11.10.2.5. Recent Developments

12. Key Takeaways