IBS Intelligence announces its Annual Sales League Table 2023 results

An environment of economic uncertainty resulted in a considerable decline in deals reported in this year’s SLT. Yet the outlook remains positive as banks and financial institutions stayed committed to investing in the future readiness of core banking platforms alongside wholesale and digital banking solutions.

London, June 15, 2023 – IBS Intelligence (IBSi) is pleased to announce the publication of its eagerly awaited iconic Annual IBSi Sales League Table (SLT) 2023. With a 20+ year track record, the IBSi SLT showcases the sales performance of banking technology suppliers, objectively ranking products across 21 categories, with four new categories launched in this edition.

Despite a global slowdown, SLT 2023 received a consistent level of interest and participation with 57 technology suppliers submitting 1,500+ deals spanning 134 countries. Only 1,281 deals made it past a rigorous assessment process to this year’s final SLT rankings, with a 70-30 split between global and domestic deals.

This year we are excited to introduce the following new categories, “Card Management”, “Quality Assurance & Testing Platform”, “Document Management Systems”, and “Process Automation/BPM”.

IBSi also recognises suppliers in select niche sub-categories as a part of Industry Leader Special Awards: Trade Finance, Supply Chain Finance, Collections, Investment and Fund Management | Latin America, Digital Banking | Select Regions, Universal Core Banking | Select Regions, Corporate Lending | Select Regions, New-Age Core | Universal Banking, and New-Age Core | Retail Banking.

Nikhil Gokhale, Head of Research Platforms, said, “Although, the deal volume declined amid tough economic conditions and global conflicts, the march towards digitisation seems unrelenting. Banks have ramped up investments in next generation core systems as well as wholesale and digital solutions, which lays a strong foundation for future growth.”

“Conversations with senior bankers and technology executives emphasise the need to adapt and innovate, to meet the evolving customer expectations and to stay ahead of the curve. Embracing cutting-edge technologies, such as artificial intelligence, machine learning, blockchain, and cloud computing, is paramount for incumbents to deliver personalized, efficient, and secure banking experiences.”

This year’s Leadership Club is as below:

1. BankWide

Universal Banking | Core | Temenos, Infosys Finacle
Risk Management | Temenos, Adenza
Compliance Management | Fenergo, Kiya.ai, Azentio Software
CRM | Infosys Finacle, Wealth Dynamix

2. Retail Banking

Retail Banking | Core | Intellect Design Arena, Sopra Banking Software
Lending | Retail | Intellect Design Arena, Zest.AI
Digital Banking & Channels | Temenos, Intellect Design Arena
Payments | Retail | Temenos, Infosys Finacle

3. Wholesale Banking

Payments | Wholesale | Volante Technologies, Infosys Finacle
Lending | Corporate | Sopra Banking Software, Infosys Finacle
Treasury & Capital Markets | Murex, Adenza
Transaction Banking | Intellect Design Arena, Infosys Finacle

4. Wealth Management

Private Banking & Wealth Management | Objectway, ERI Bancaire
Investment & Fund Management | Objectway, Profile Software

5. Other SLT Areas

Data Warehousing & Business Intelligence | Finastra, Kiya.ai
InsurTech | Azentio Software, Intellect Design Arena
Treasury & Risk Management | Temenos, Adenza
Reconciliation | Ascent Business, TCS Financial Solutions

6. New SLT Areas

Document Management Systems | Impactsure
Process Automation/BPM | Azentio Software
Quality Assurance & Testing Platform | Yethi Consulting
Card Management | Kiya.ai, TietoEVRY

7. Neo Bank & Challenger Bank SLT

Neo Bank & Challenger Bank | Temenos, Thought Machine, Infosys Finacle

8. Islamic Banking SLT

Islamic Banking | Universal Banking | Core | Temenos, Azentio Software
Islamic Banking | Universal Banking | Core | Middle East | Temenos, Azentio Software, ICS Financial Systems
Islamic Banking | Lending | Retail | Azentio Software, EgabiFSI
Islamic Banking| Risk Management Temenos, Ascent Business

9. Regional Leaders

North America | Finastra, Temenos
Latin America | Bantotal, Temenos
Europe | Temenos, Objectway
Middle East | Temenos, Azentio Software
Africa | Temenos, Infosys Finacle, Intellect Design Arena
APAC | Kiya.ai, Intellect Design Arena

10. Domestic SLT

India | Kiya.ai, Infosys Finacle
- Retail Lending | Credgenics, Intellect Design Arena
- Private Banking | Clayfin, Intellect Design Arena
- Treasury & Capital Management | Intellect Design Arena, Credence Analytics, Infosys Finacle
- Robotic Process Automation | Kiya.ai
USA | Finastra, Bankjoy
- Digital Banking | Bankjoy, Access Softek
UK | Thought Machine

11. Global Leadership

Product Breadth | Azentio Software, Intellect Design Arena, Infosys Finacle, Kiya.ai
Geographic Spread | Temenos, Intellect Design Arena, Murex

12. IBSi Industry Leader Special Awards

Wholesale Transaction Banking | Trade Finance | Kyzer Software
Wholesale Transaction Banking | Supply Chain Finance | Veefin
Wholesale Transaction Banking | Collections | Ascent Business
Investment and Fund Management | Latin America | MIMICS
Digital Banking | Middle East | Codebase
Digital Banking | Africa | Modefin
Universal Core Banking | Latin America | Cobis Topaz
Corporate Lending | Africa | Software Group
Treasury & Capital Markets | Americas | Adenza
Treasury & Risk Management | Americas | Adenza
New-Age Core | Universal Banking | Thought Machine
New-Age Core | Retail Banking | Skaleet

13. SLT NEW ENTRANT | Star Performance

Americas | Bankjoy
Europe | Vilja
Middle East | Codebase
Africa | Skaleet

Detailed analysis and insights are in the SLT Report 2023, available for subscription here.

About IBS Intelligence

Established in 1991, UK-headquartered IBS Intelligence is the leading global pure-play Financial Technology research, news analysis, and advisory firm. IBSi’s Sales League Table is considered the global industry barometer ranking leading banking technology suppliers. Its research reports comprehensively cover international suppliers across all Banking Technology & Financial Technology systems and are also distributed by Thomson Reuters, Bloomberg, and S&P Capital IQ.

Cedar-IBSi’s FinTech Lab in the heart of Dubai’s Internet City has been home to global FinTechs who need a “soft-landing” opportunity into the MENA region. It brings together banks and suppliers with an opportunity to access the Middle East market and to test and experience global Financial Technology products within the region. The group company, Cedar, is a global management consulting firm with deep expertise in formulating and executing a business strategy for financial services clients worldwide with a significant focus on leading their technology and digital transformation.

For media-related enquiries, please write to enquiries@ibsintelligence.com.