Apac Banking-As-A-Service Market – Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Apac Banking-As-A-Service Market – Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The demand for BaaS services in APAC is greater than in EMEA and the Americas. In APAC, 88% of top executives in various industries (including banking, healthcare, retail, and technology) have implemented or plan to use BaaS solutions, compared to 80% in EMEA and 87% in the Americas.

The primary BaaS ecosystem participants (distributors, enablers, and providers) aim to boost their BaaS investments and relationships because they estimate the BaaS market to grow at a rate of more than 50% annually over the next five years. The changing landscape of the banking and financial services business has led end-users to adopt innovative digital banking solutions that offer ease and efficiency while lowering costs for banks and other service providers, resulting in market growth.

Due to Covid-19, Demand for BaaS platforms increased in medium and small-sized enterprises as there is a rise in an adaption of digital banking services across several domains in APAC. Integrating artificial intelligence, blockchain technology, and API services within internet banking leads to market growth.

BNPL (Buy Now Pay Later) and other financing options (e.g., interest-bearing point of sale loans) are included in POS financing. BNPL has grown more widely available in recent years at a variety of merchants around the world. BNPL is likely to continue to grow but at a slower pace than other POS financing BaaS providers.

The use of BaaS platforms in large organizations segment is more than in small and medium-sized enterprises, it accounts for more than 50% market share in APAC and is expected to continue its domination as it is increasing its customer base by investing in digital transformation to offer tech-savvy banking operations.

The demand for BaaS platforms in the large enterprises segment is anticipated to be driven by organizations’ growing inclination for reliable service platforms and automation capabilities

The report covers major players operating in the APAC Banking-As-A-Service Market. In terms of market share, the market is fragmented between major and small players. However, with technological advancement and service innovation, mid-size to large-size companies are increasing their market presence by securing new contracts and tapping new markets. It has major players, including One Connect, Du Xiaoman Financial, Money Forward and Policy Bazar, etc.,

• The market estimate (ME) sheet in Excel format
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