Core banking system (CBS) technology has witnessed a fundamental shift over the last five years. Next-generation core banking has become mainstream.

While the conception of some next-generation core platforms dates to the early 2010s, the last five years have seen a notable acceleration in interest across the banking sector, with maturing understanding of next-generation concepts and pervasiveness of live and in-progress deployments of next-gen cores. The market has shifted from early adopter to early majority phase, with consideration of next-gen cores (and certainly next-gen capabilities) common in CBS sector.

To understand this, Celent has both analyzed the evolution of the core banking landscape over the last few years, and evaluated 13 next-gen core vendors, which offer new-built, cloud-native banking platforms. Given many of these providers serve the market with different propositions, which are more diverse than the traditional CBS sector, this evaluation is divided by institution type and strategy (such as modernization or greenfield) and region.