MEA Core Banking Solutions Market - Industry Trends and Forecast to 2034
Middle East and Africa core banking solutions market is expected to reach USD 2,637.71 million by 2031 from USD 1,518.65 million in 2023, growing at a CAGR of 7.3% during the forecast period of 2024 to 2031.
Market SegmentationMiddle East And Africa Core Banking Solutions Market, By Type (Enterprise Customer Solutions, Deposits, Loans, Mortgages, Transfer, Payments and Withdrawal, Currency Exchange, and Others), Offering (Solution and Services), Deployment Mode (Cloud and On Premises), Enterprise Size (Large Enterprises and Small and Medium Enterprises (SMEs)), Channel (ATMs, Internet Banking, Mobile Banking, Bank Branches, and Others), Function (Account Management, Transaction Processing, Risk Management, Customer Relationship Management, Reporting and Analytics, Product Management, Loan Management, Compliance Management, and Others), End User (Banks, Credit Unions and Community Banks, and Other Financial Institutions), Country (Saudi Arabia, U.A.E., South Africa, Egypt, Israel and Rest of Middle East and Africa) - Industry Trends and Forecast to 2031
Overview of Middle East and Africa Core Banking Solutions Market Dynamics
Driver• Increasing integration with emerging technologies
Restrain• Data security and safety concerns
Opportunity• Expansion of fintech ecosystem
Market PlayersSome of the key players operating in the Middle East and Africa core banking solutions market are:• FIS
• Bricknode
• Jayam solutions
• Forbis
• NCR VYOIX Corporation
• HCL Technologies Limited
• Unisys
• Infosys Limited
• TATA Consultancy Services Limited
• Jack Henry & Associates, Inc.
• SAP
• Oracle
• Capgemini
• nCino
• Finastra
• Fiserv Inc.
• Nelito Systems Pvt. Ltd
• Mambu
• Chetu Inc.
• Backbase
• Capital Banking Solutions
• IBM
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