Core Banking Software: Market Size & Forecast 2026

The global core banking software market represents one of the most consequential indirect procurement categories in the BFSI vertical. With an estimated market size of approximately USD 62.5 billion in 2025 and a projected 13.4% CAGR through 2032, the category sits at a structural inflection driven by accelerating cloud migration, regulatory technology mandates under DORA and Basel III, and a wave of bank M&A consolidating the buyer base. The reference enterprise deployment carries a USD 850,000 price tag on the software and implementation line alone; total cost of ownership over a seven-year horizon routinely exceeds USD 5 million for a mid-size institution. Three vendors - FIS, Fiserv, and Jack Henry - collectively command the dominant share of the US market for depository institutions, creating a concentrated supply base that constrains buyer leverage despite the category's strategic

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