Gartner’s evaluation of the International Retail Core Banking (IRCB) market assesses vendors according to their ability to operate with the agility and technical capacity necessary to stay competitive in this fast-changing market. Vendors are positioned in quadrants based on completeness of vision and ability to execute. SAP is positioned in the upper right quadrant.
In effort to answer the question “What is a core banking system,” Gartner takes a look at five key components:
- Blurring boundaries between hardware and operating software
- Increasing drive for open architectures that enable the core banking systems to integrate with other customer information systems
- Reducing program and data redundancy to better leverage Service-Oriented Architecture (SOA) and Event-Driven Architecture (EDA)
- Componentization to ease maintenance and support, and enable faster entry into new markets
- Functionality commoditization to support customized solutions
Read the full report, Magic Quadrant for International Retail Core Banking, to learn more about the critical core banking technology decisions business leaders will have to make to stay competitive. For additional SAP Banking information, visit sap.com.
Related news from earlier this year: CEB Tower Group named the SAP Transactional Banking Package a Best-in-Class Solution.