Trends Report

Forrester’s Analysis Of 2019 Banking Platform Deals: European Banks Invested Heavily In Regulatory Compliance And Transactional Capabilities And Turned To New Vendors For Functional Building Blocks

August 10th, 2020

Summary

Banking technology teams seeking the right off-the-shelf banking platform need to look at both the product’s functional breadth, depth, and roadmap as well as the vendor’s current market presence. To help banking technology teams choose among the leading solutions, Forrester’s Global Banking Platform Deals Survey 2020 shows deals signed in 2019. Incumbents like Temenos, Sopra Banking, and Finastra continued to dominate the European banking platform market in 2019. However, “new school” vendors like Mambu joined the group of leading vendors, offering alternatives when it comes to more targeted functional building blocks. The functionality that European banks purchased in 2019 strongly focused on regulation and transactional capabilities, such as core banking, lending, and payments. Banking technology teams can learn more about individual banking platform providers from The Forrester Wave™: Digital Banking Engagement Platforms, Q3 2019 and the upcoming evaluations of digital banking processing platforms for retail banking and corporate banking; you can also book an inquiry to discuss your requirements.

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