Information Technology (IT) Solutions For The Banking Market 2025-2029: Unveiling Growth Developments with the Latest

The Business Research Company

The Business Research Company's Information Technology (IT) Solutions For The Banking Global Market Report 2025 – Market Size, Trends, Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, September 4, 2025 /EINPresswire.com/ -- What Is The Expected Cagr For The Information Technology (IT) Solutions For The Banking Market Through 2025?
In recent times, the market size for IT solutions in the banking industry has seen significant growth. It is expected to increase from $51.97 billion in 2024 to $56.97 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 11.5%. Factors contributing to this growth in the historical period include the emergence of online banking platforms, growing cybersecurity threats, rising customer demand for digital services, increased use of mobile devices and amplified regulatory requirements.

The banking sector's market size for information technology (IT) solutions is anticipated to witness substantial growth in the coming years, increasing to $87.00 billion in 2029 at a compound annual growth rate (CAGR) of 11.2%. Several factors are expected to contribute to this growth throughout the forecast period, including the rising use of AI and machine learning, an increase in demand for personalized banking interactions, the growing significance of cloud-native infrastructure, enhanced incorporation of open banking APIs, and the intensifying competition from digital-only banks (neobanks). Some of the leading trends expected during this period include improvements in AI-driven customer services, blockchain incorporation, biometric authentication, cloud-based core banking services, predictive analytics, open banking APIs, and improved mobile banking experiences.

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What Are The Driving Factors Impacting The Information Technology (IT) Solutions For The Banking Market?
The growth of the information technology (IT) solutions for banking market is anticipated to be driven by increasing smartphone usage. Smartphones, mobile devices that merge cellular communication with advanced computing abilities such as internet access, apps, and multimedia features, are becoming more common mainly due to their affordability. This paves the way for their diffusion in both cityscapes and rural regions. Mobile banking apps on smartphones utilise IT banking solutions, offering secure access to financial services, account details, transactions, and bill payments anytime and anywhere. For example, data from Uswitch, a company based in the UK, indicated that by February 2024, the UK registered 71.8 million mobile connections, exceeding its population by 4.2 million and reflecting a 3.8% increase, around 2.6 million more, compared to 2021. Thus, the proliferation of smartphone usage is anticipated to fuel the advancement of the IT solutions for banking market.

Which Players Dominate The Information Technology (IT) Solutions For The Banking Industry Landscape?
Major players in the Information Technology (IT) Solutions For The Banking Global Market Report 2025 include:
• Accenture plc
• International Business Machines Corporation (IBM)
• Capgemini SE
• Cognizant Technology Solutions Corporation
• Infosys Limited
• Fiserv Inc.
• DXC Technology Company
• HCL Technologies Limited
• Wipro Limited
• Fidelity National Information Services Inc. (FIS)

What Are The Main Trends, Positively Impacting The Growth Of Information Technology (IT) Solutions For The Banking Market?
Leading firms in the IT solutions field for the banking market are putting their efforts into establishing strategic alliances for bolstering their technological prowess, broadening their service offerings, and expediting the digital transformation in the banking sector. Such alliances are joint agreements between organizations aimed at reaching shared objectives by leveraging each others' resources and strengths. For instance, in January 2025, DXC Technology, an American IT firm, teamed up with the UK's Thought Machine, a cloud banking firm, to unveil a combined solution aimed at speeding up the digital transformation for small to medium-sized banks. This partnership meshes DXC’s comprehensive industry insight and managed services with Thought Machine’s innovative cloud-based core banking system, Vault Core, and its payment platform, Vault Payments. The ensuing comprehensive managed service empowers banks to modernize outdated systems, drastically minimize time-to-market for novel digital fiscal products, and boost compliance as well as operational efficiency. Thanks to this collaboration, small banks worldwide can compete with larger institutions, offering progressive, customer-focused services, leveraging the adaptable, scalable technology and expert assistance provided.

Global Information Technology (IT) Solutions For The Banking Market Segmentation By Type, Application, And Region
The information technology (it) solutions for the banking market covered in this report is segmented –

1) By Solution Type: Core Banking Solutions, Digital Banking Solutions, Risk And Compliance Solutions, Data Analytics And Artificial Intelligence (AI) Solutions, Cybersecurity Solutions, Other Solution Types
2) By Deployment Mode: On-Premises, Cloud
3) By Enterprise Size: Small And Medium Banks, Large Banks
4) By Financial Technology: Blockchain Technology Solutions, Peer-To-Peer Lending Platforms, Digital Wallets And Payment Processing Solutions, Robo-Advisory Services, Insurtech Solutions

Subsegments:
1) Core Banking Solutions: Account Management, Transaction Processing, Loan Management, Deposit Management, Payment Processing, Customer Information Management
2) Digital Banking Solutions: Mobile Banking Apps, Internet Banking Platforms, Digital Wallets, Online Account Opening, Chatbots And Virtual Assistants, Personal Finance Management Tools
3) Risk And Compliance Solutions: Anti-Money Laundering (AML), Fraud Detection And Prevention, Regulatory Reporting, Credit Risk Management, Operational Risk Management, Know Your Customer (KYC) Solutions
4) Data Analytics And AI Solutions: Customer Insights And Segmentation, Predictive Analytics, Credit Scoring Models, AI-Powered Chatbots, Real-Time Fraud Analytics, Marketing Analytics
5) Cybersecurity Solutions: Identity And Access Management, Threat Detection And Response, Data Encryption, Network Security, Endpoint Security, Security Information And Event Management (SIEM)
6) Other Solution Types: Payment Gateways, Blockchain Solutions, API Management, Cloud Banking Solutions, Robotic Process Automation (RPA), Customer Relationship Management (CRM) Systems

View the full information technology (it) solutions for the banking market report:
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Which Region Holds The Largest Market Share In The Information Technology (IT) Solutions For The Banking Market?
In the year specified in the IT Solutions For The Banking Global Market Report 2025, North America dominated as the region with the highest market presence. Additionally, Asia-Pacific is projected to witness the most rapid growth in the upcoming years. The study encapsulates regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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