Rapidly increasing customer behavioural analysis by means of bug data has been considered as the biggest trend in the market for core banking solution. Leading players and manufacturers in the market for core banking solution are taking immense efforts in developing innovative and new technologies for the purpose of increasing their customer-base, thereby entrenching loyalty among the existing ones. Large banks and financial institutions have been contributing significantly towards the rapidly increasing revenue growth of market for core banking solution.
A research company recently carried out an all-inclusive study on the report, market for core banking solution. The analysts of the research company revealed some facts and figures relating the market across the globe on core banking solution. Market for core banking solution is likely to grow at a CAGR of 5.1% during the assessment period, 2017-2027.
Leading players effective in the market for core banking solution are inclusive of Oracle Corporation, Infrasoft Technologies Ltd., HCL Technologies Limited, FIS (Fidelity Information Services), SAP SE, Capgemin and Tata Consultancy Services Private Limited. Leading players and manufacturers are increasing their concentration on developing and initiating new products, which would help in meeting their emerging and existing business plans and expansion of customer-base across the globe as well.
SAP SE & SWIFT Collaborate to Boost Corporate Processing of Treasurers
Leading players and manufacturers can note that SAP SE and SWIFT are collaborating to provide an out-of-the-box and comprehensive combination with the financial institutions. This process will be done by connecting to SWIFT network of over 11,000 financial organizations across the globe. SAP Multi-Bank Connectivity is a novel integrated connectivity solution, which has been based in the Cloud Platform technology of SAP SE. This helps the connectivity of corporate-to-bank for the S/4HANA customers of SAP SE, who demand connectivity with multiple banks, thereby increasing control and transparency as well as lowering onboarding costs.
SAP SE and SWIFT are taking immense efforts in catering to the increasing needs of businesses to establish flexible relations with various financial institutions. SAP Multi-Bank Connectivity has been working on combining benefits of the SAP S/4HANA along with the seamless incorporation in SWIFT network, which in turn helps in offering a secure and single point of entry that enables in managing entire bank relationships.
SAP SE is of the point of view that this collaboration can largely benefit in simplifying the connectivity of banks with their customers, thereby offering them banking communication throughout multiple banks as well as countries. This new solution also helps in accelerating project implementations as well as increases security standards, thereby leveraging secured shared infrastructure that is offered by the cloud platform of SAP SE. holistically, the incorporates solutions are likely to be highly beneficial for the corporate treasurers.
Oracle Corporation Introduces New Banking APIs
Leading players and manufacturers can note that Oracle Corporation has recently introduced new banking APIs that offer over 1,500 ready and functional APIs for the purpose of corporate banking, retail and payments. The point to note here is that these new APIs help the banks in entering into collaborations with the third-party technology administrations, incorporate along with the corporate client applications as well as decrease time between the API delivery and ideation.
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