Global Banking-as-a-Service Market Size study & Forecast, by Product (Platform, Services), by Component (API-Based Banking-as-a-Service, Cloud-Based Banking-as-a-Service), by End-use (Banks, NBFC, Government, Others) and Regional Analysis, 2022-2029

Global Banking-as-a-Service Market Size study & Forecast, by Product (Platform, Services), by Component (API-Based Banking-as-a-Service, Cloud-Based Banking-as-a-Service), by End-use (Banks, NBFC, Government, Others) and Regional Analysis, 2022-2029

Global Banking-as-a-Service Market is valued at approximately USD 19.65 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 16.2% over the forecast period 2022-2029. Banking-as-a-Service (BaaS) is the provision of banking products to non-bank third parties with the help of APIs. It is an end-to-end process that enables third parties such as non-FinTech, FinTech, developers, and others for lending them to access and use varied financial services capabilities. This is a model in which licensed banks incorporate their digital banking services directly into the products of other non-bank businesses. Accordingly, the rising demand for financial services, increasing digitalization, coupled with the growing availability of Application Programming Interfaces (APIs) are some prominent factors that are bolstering the market growth across the globe.

According to Statista, in 2018, there were nearly 5,686 fintech startups present in America 3,581 in the EMEA region (Europe, the Middle East, and Africa), and 2,864 in the Asia Pacific. Also, the number of fintech startups increases and reached 10,775 startups in America, 9,323 startups in the EMEA, and 6,268 in the Asia Pacific region in the year 2021. Thereby, the rising number of fintech startups is surging the demand for Banking-as-a-Service, which is leveraging the market growth worldwide. In addition, the rising integration of artificial intelligence in the banking-as-a-service platform, as well as the increasing number of internet services are creating various lucrative opportunities for market growth over the forthcoming years. However, the increase in cyber-attack on personal banking information and the high cost associated with the BaaS ecosystem is hampering market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Banking-as-a-Service Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the space in terms of revenue, owing to the increasing investments in technological advancements, and high presence of the leading market players in the region. Whereas, Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2022-2029. Factors such as growing awareness regarding the advantages of BaaS, development of the region’s emerging economies such as China, India, Indonesia, Malaysia, Philippines, and Thailand, along with the rising number of initiatives for promoting BaaS experience are burgeoning the market growth in the near future.

Major market players included in this report are:
Green Dot Bank
Solarisbank AG
PayPal Holdings, Inc.
Fidor Solutions AG
Moven Enterprise
The Currency Cloud Ltd.
Treezor
Bnkbl Ltd.
MatchMove Pay Pte Ltd.
Block, Inc.

Recent Developments in the Market:

In July 2022, Finastra declared offering its HSBC’s Foreign Exchange (FX) services to mid-tier banks across the Asia Pacific (APAC) region. The company offers this new service by using its own FusionFabric.cloud platform under a BaaS experience.

In April 2022, Mondu, entered into a partnership with Raisin Bank- a BaaS provider, to offer the Buy Now, Pay Later (BNPL) services to online B2B marketplaces and merchants. The BNPL product enables reasonable payment arrangements via direct interaction with online retailers’ checkout techniques. The company is engaging in the management of the processing of payments and associated services if a business customer utilizes one of the accepted payment options.

In November 2021, BM Technologies, Inc., announced the acquisition of First Sound Bank- a community business bank. The combined business is named BMTX Bank, which is a fintech-based financial institution that emphasizes nationwide digital customer service, backed by its community banking segment, which is likely to keep operating in the greater Seattle region.
Global Banking-as-a-Service Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage
Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered
Product, Component, End-use, Region
Regional Scope
North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope
Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below.
By Product:
Platform
Service.
By Component:
API-Based Banking-as-a-Service
Cloud-Based Banking-as-a-Service
By End-use:
Banks
NBFC
Government
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australi.
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World


Companies Mentioned

Green Dot Bank
Solarisbank AG
PayPal Holdings, Inc.
Fidor Solutions AG
Moven Enterprise
The Currency Cloud Ltd.
Treezor
Bnkbl Ltd.
MatchMove Pay Pte Ltd.
Block, Inc.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.