Finextra reported a new Forrester study today, which concludes that “Oracle and Temenos are set to continue their dominance of the core banking technology market as smaller rivals fall by the wayside and banks take a cautious approach to vendor selection in a consolidating market.”
The ongoing economic crisis is likely to accelerate an emergent trend towards consolidation among core banking tech vendors says Forrester. As the stragglers are picked off by the dominant players, the big are likely to get bigger and a smaller number of banking platform vendors will start to dominate the market even more than the top ones do today.
As such, it will be more important than ever before for banks to scrutinise the viability of banking platform vendors and their product lines in terms of regional and global success as well as product road maps, says Forrester.
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