The Indian banking technology space is an interesting one, with several domestic and global players operating in a highly competitive market. There has been significant activity in the core banking space, both from large commercial banks as well as new microfinance institutions. Additionally, digital and mobile banking services are increasingly becoming an area of focus for banks, particularly with the government’s push towards digital banking.

This, coupled with additional licences issued by the Central Bank for payment banks and small finance banks, has made India an extremely attractive target market for global banking technology suppliers. Several domestic companies have become increasingly active in the domestic as well as global market, competing with traditional banking technology giants such as Infosys and TCS. Recognising this, we have introduced an Indian Domestic IBS SLT for the first time, to highlight systems and players who have performed well.

INDIA | Domestic IBS Sales League Table 2017

INDIA | Domestic IBS Sales League Table 2017

TCS Bancs tops the Indian domestic league table with eight deals. All these related to retail banking solutions for smaller co-operative banks in the country. There is evidently a strategic focus towards targeting smaller banks domestically, while focusing on medium to large banks globally, as demonstrated by its 18 global deals in 2016. TrustBankCBS is the runner up in the Indian league table with seven deals, across smaller regional players in the country. TrustBank also won six global deals, with the company focusing heavily on the developing markets of Asia and Africa.

by IBS Intelligence
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