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Banking as a Service Market to expand at a CAGR of 15.1% by 2030 – Report by Market Research Future (MRFR)

Oct 12, 2023 12:00 AM ET

Banking as a Service Market to expand at a CAGR of 15.1% by 2030 – Report by Market Research Future (MRFR)

Banking as a Service Market Analysis:

The banking as a service market was estimated to be worth USD 18.21 billion in 2021. The banking as a service market is expected to grow from USD 21.47 billion in 2022 to USD 65.95 billion by 2030, at a CAGR of 15.1% during the forecast period. period (2022-2030). Banking as a Service (BaaS) is an end-to-end process that allows fintech companies and other third parties to connect directly to banking systems through APIs, allowing them to build banking services on top of a service provider’s infrastructure and reorganize financial services. landscape BaaS systems have evolved into a key part of open banking, where banks make their application interfaces (APIs) available to third parties to create new services that offer more financial transparency to account users. The seamless integration of financial services and goods in non-financial digital channels enables BaaS.

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Key Companies in the Banking as a Service Market Include

Some of the key players in the market are.

  • 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).


Consumers are increasingly using these networks for services such as e-commerce, travel, shopping, fitness and telecommunications. As a banking services market, the most important factors driving growth are the increase in demand for financial services and the growing presence of FinTech companies. However, high implementation costs hinder market growth. However, increasing demand for embedded financial solutions will create lucrative market growth opportunities.  The high cost of implementing this technology for various banks has hindered the expansion of BaaS business. Smaller banks that do not already have the capacity and capital to implement new technology will pay a significantly higher price. To fully realize BaaS technology, a bank must invest in active IT software and hardware, including cloud services that can simplify BaaS operations. Infrastructure as a service (IaaS) is another name for cloud services (IaaS). Embedded finance is a term that refers to the seamless transition from financial services to traditional non-financial services, allowing customers to access financial services while navigating a tangle of applications and third-party services.

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Segment information:

Banking as a Service market segmentation on the basis of type includes API-based Banking as a Service and Cloud-based Banking as a Service. The market is divided into large enterprises and small and medium-sized enterprises based on the size of the organization. The share of banking as a service income was the largest in large companies, which is due to the generalization of banking as a service in large companies. Banking as a service market is divided into Government, Banks, and NBFCs based on application. In the banking segment, the share of banking as a service is the largest due to the increasing initiatives of the banking sector, such as continuous investment in banking as a service, partnerships, etc.

Geographically, the banking as a service market is divided into North America, Europe, Asia and the Pacific, the Middle East and Africa, and South America. North America is likely to be the dominant regional market due to the faster adoption of fintech technologies in developed countries in the region. Europe is expected to have the highest CAGR during the forecast period due to the increasing use of advanced technologies, growing demand for financial services, and increasing presence of FinTech companies in the region.

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About Market Research Future:

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