Banking as a Service Market is Set to Growth Rate at a CAGR of 15.1% Approximately by 2022-2030

Market Analysis

According to a comprehensive research report by Market Research Future (MRFR), “Banking as a Service Market Research, Information by Component, Network Functions, End-User – Forecast 2030”. Valuation is poised to reach USD 65.95 billion by 2030, registering a 15.1% CAGR throughout the forecast period (2022–2030).

When talking about Banking as a Service (BaaS), it is considered the end-to-end procedure that allows the third parties and financial technology companies to build banking services based on the financial services and infrastructure.

Global banking as a service market growth is driving due to the rising usage of financial services like professional counseling, banking, mutual funds, wealth management, stock exchange, insurance, tax/audit consultation, treasury/debt instruments, portfolio management, and capital restructuring across the world. However, banking as a service market growth might experience restraints due to the high cost of adoption for banking as a service technology among various industries.

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Banking as a Service Market Key Players

Eminent industry players profiled in the Banking as a Service market report include.

• Twilio Inc. (US)
• Braintree (US)
• BOKU (US)
• Coinbase Inc.
• Dwolla (US)
• Zettle (Sweden)
• Fidor Bank (Germany)
• GoCardless (UK)
• Gemalto (Netherlands)
• Intuit (US)
• Square Inc. (US)
• PayPal (US)
• Prosper Inc. (US)
• Solaris Bank (Germany)
• Moven (US)

Browse In-depth Market Research Report (141 Pages) on Banking as a Service Market:
https://www.marketresearchfuture.com/reports/banking-as-a-service-market-10717 

Market Segmentation

As per the banking as a service market analysis, the market has been classified based on organization size, type, and application.

Based on the organizational size segment, the market for banking as a service has been segmented into small and medium enterprises and large enterprises. Among all, the large enterprise segment is estimated to hold the largest market share during the review time frame.

On the basis of type segment, the current market has been segregated into Cloud-based Bank-as-a-Service and API-based Bank-as-a-Service. In terms of the application segment, banking as a service has been divided into NBFC, government, and banks. Of these, the bank segment is projected to generate the highest CAGR and register the largest market share in the research period. The neo-banks is projected to generate the second largest market share as it serves their potential customers.

Regional Analysis

Regionally, the global banking as a service market has studied various regions like South America, Asia-Pacific, North America, the Middle East & Africa, Europe, and the rest of the world.

Among all, the European market is estimated to hold the highest CAGR in the review period because of the presence of FinTech companies, the increasing demand for financial services, and the rise in the utilization of advanced technologies in the region. Also, this region is registered to be the fastest-growing market in the analysis period. The European regional market for banking as a service covered some important countries like France, the UK, Italy, Germany and others. All these countries have higher use of digital payment systems, financial services, and online banking, enhancing regional market growth.

As per the report of Management International Conference 2019, internet banking is used by approximately 51% of adult Europeans. Also, this percentage is growing continuously year by year.

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Industry News

In May 2021, the prominent digital transformation solutions provider for lending and banking known as Q2 had declared its partnership with Moven. This partnership has aimed to provide digital transformation solutions for the lending and banking sectors.

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