IDC Financial Insights Ranks Global Core Banking Vendors for European Banks in New IDC MarketScape

(PresseBox) (Frankfurt am Main, ) IDC Financial Insights announced today the availability of a new IDC MarketScape report, IDC MarketScape: Worldwide Core Banking Solutions for European Banks 2015 Vendor Assessment - Global Providers (IDC Financial Insights #FI254031), which provides valuable guidance when examining existing core banking solutions and/or planning for future investment opportunities.

TCS - BaNCS, Temenos - T24, and Infosys - Finacle have been ranked as "leaders" in the report. FIS - Profile, FIS - Systematics, Fiserv - Signature, Oracle - FLEXCUBE, SAP Transaction Banking, Sopra Banking Software - Sopra Banking Amplitude, and Sopra Banking Software - Sopra Banking Platform were "major players," and ERI Bancaire - OLYMPIC Banking System was a "contender."

The companion document, IDC MarketScape: Worldwide Core Banking Solutions 2015 Vendor Assessment - Regional Providers for European Banks addresses the vendors and solutions that currently address specific geographies in the context of transformational initiatives in the European market.

Using the IDC MarketScape model, IDC Financial Insights compared 19 core banking solutions in the global marketplace. Using an algorithm to analyze client distribution by geography, IDC Financial Insights grouped these 19 solutions into "global reach" and "regional reach" solutions, to demonstrate what seems to be the solution's current dominant market. This report includes the 11 solutions with global reach in the context of the European market: ERI Bancaire - OLYMPIC Banking System, FIS - Profile, FIS - Systematics, Fiserv - Signature, Infosys - Finacle, Oracle - FLEXCUBE, SAP Transaction Banking, Sopra Banking Software - Sopra Banking Amplitude, Sopra Banking Software - Sopra Banking Platform, TCS - BaNCS, and Temenos - T24.

Through in-depth interviews with these providers and feedback from each provider's customers, IDC Financial Insights reports that:

§ 10 of the 11 core banking solutions with global reach are closely grouped within the Leader and Major Player categories. All solutions ranked within these two categories are very close together with regard to the strategic focus of the vendor and the capabilities of the provider based on reference account feedback - we found no significant outliers within those two categories. The tight balance between strategies and functional capabilities indicated by the centered placement of the marker is a good sign that the providers evaluated in this report have generally responded to the market with a good balance of product functionality and a commitment to their future.

§ Infosys - Finacle, Tata Consultancy Services (TCS) - BaNCS, and Temenos - T24 exhibited high levels of strategic vision and demonstrable an ability to deliver functionality and support to their clients, earning these vendors the distinction of being a Leader. Of these vendors, both Infosys and Temenos have recently signed up new clients for core transformation projects in Europe. This indicates that the providers were able to overcome the hurdles of regulatory requirements and budgeting constraints for core banking systems in Europe.

§ The providers in the Major Player category tended to be the more traditional providers and solutions in Europe. All providers were deemed as having capable solutions for core transformation for European institutions. A larger divergence is found in the Major Player category between strategic vision and functional excellence than in the Leader category, but the spread is not significant enough to generalize IDC guidance.

"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," said Karen Massey, senior analyst, Banking, IDC Financial Insights.

"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," said Andrei Charniauski, research manager for European banking at IDC Financial Insights.

IDC MarketScape criteria selection, weightings, and vendor scores represent well-researched IDC judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants, and end users. Market weightings are based on user interviews, buyer surveys, and the input of a review board of IDC experts in each market. IDC analysts base individual vendor scores, and ultimately vendor positions within the IDC MarketScape, on detailed surveys and interviews with the vendors, publicly available information, and end-user experiences in an effort to provide an accurate and consistent assessment of each vendor's characteristics, behavior, and capability.

For more information about this report or to arrange a one-on-one briefing with Andrei Charniauski please contact Kanupriya at +44 20898 77111 or kanupriya@idc.com. Reports are available to qualified members of the media. For information on purchasing reports, contact insightseurope@idc.com; reporters should email kanupriya@idc.com.

About IDC MarketScapes

The IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of IT, telecommunications, or industry-specific suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScapes provide a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT, telecommunications, or industry-specific vendors can be meaningfully compared. The framework also provides technology buyers with a transparent foundation to allow companies to independently compare the strengths and weaknesses of current and prospective vendors.

About IDC Financial Insights

IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers that serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company. For more information, please visit www.idc.com/financial, email info@idc-fi.com, or call 508-620-5533. Visit the IDC Financial Insights Community at http://idc-community.com/....

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