IBS Intelligence (IBSi) has recently released its eagerly awaited iconic Annual IBSi Sales League Table (SLT) 2024. With a track record of over two decades, the IBSi SLT showcases the sales performance of banking technology suppliers, objectively ranking products across 20 categories. In this report IBSi recognised Intellect Design Arena in select categories for significant deal size.
The report reveals that Banks and Financial Institutions (FIs) continue to prioritise digital transformation for competitiveness; enhancing cybersecurity and building more robust and secure digital infrastructures. Digital Banking technology and solutions highlight a forward-looking industry that is capable of navigating the complexities of the modern economic environment. Retail Banking deals saw significant growth from 2016 to 2021. While the market for Retail Banking Systems experienced consolidation in 2022, 2023 witnessed a resurgence in deal activity, countering expectations of stagnation. This resurgence can be attributed to the rapid advancement in financial technology, prompting retail banks to invest in newer retail core banking systems to enhance digital transformation and meet evolving customer expectation.
