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.