This IDC Financial Insights report provides an IDC MarketScape assessment of global core banking solutions in terms of how the major vendors compare with each other and what criteria are most important for financial institutions to consider when making core banking investment decisions. This IDC MarketScape provides valuable guidance when examining existing core banking solutions and/or planning for future investment opportunities. This report includes the 11 solutions with global reach in the context of the European market.
Karen Massey, senior analyst, IDC Financial Insights' Customer Banking practice, states, "We are seeing a significant increase in core banking modernization globally and expect European institutions to closely follow with strategies to take out costs and complexity, address risk and compliance issues, and improve competitive posture." Andrei Charniauski, research manager, for European Banking at IDC Financial Insights, notes, "Banking is evolving fast, even in the most conservative markets, and our research suggests that European financial institutions' commitment to core banking transformation projects is at its peak. This IDC MarketScape is a timely analysis of the broad scope of vendors and solutions, guiding banks through the landscape of traditional and new providers that can help with that transformation."