Banking as a Service Market to grow by USD 21,806.94 million from 2022 to 2027; Benefits such as convenience, speed, and payment options to drive Growth - Technavio

NEW YORK, July 13, 2023 /PRNewswire/ -- The banking as a service market is set to grow by USD 21,806.94 million from 2022 to 2027, progressing at a CAGR of 14.62% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. Banking as a service offers consumers a wide range of financial services with benefits such as convenience, speed, and payment options. These benefits drive market growth during the forecast period. The demand for banking as a service is expected to increase during the forecast period as financial institutions gain access to banking capabilities such as lending, accounting, and corporate finance. This enables them to offer enhanced services to businesses. Non-banking financial companies (NBFCs) are also adopting banking as a service solution to provide core banking services, delivering a seamless customer experience. The availability of bank accounts, digital wallets, lending, and payments through NBFCs contributes to the growing adoption of banking as a service among various end-users, thereby driving the growth of the global banking as a service (BaaS) market. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The banking as a service market covers the following areas:

• Banking As A Service Market Sizing
• Banking As A Service Market Forecast
• Banking As A Service Market Analysis

Banking As A Service Market 2023-2027 - Market Dynamics

Major Trends

Growing partnerships, collaborations, and agreements are an emerging trend shaping market growth.

• On February 4, 2020, Bankable, a global provider of banking as a service solution, recently formed a strategic collaboration with Visa in the US. Through this partnership, Bankable intends to grant Visa US clients, including corporate and financial institutions, the opportunity to leverage its real-time and modular banking solutions. This collaboration will empower these clients to implement digital banking and faster payment services.
• On November 25, 2021, the New York-based banking as service, partnered with Currencycloud, the experts in simplifying business in a multi-currency world, to deliver their customers an easy, seamless way to satisfy both domestic and international banking requirements.
• On Jan-2022: Block.Inc acquired Afterpay, an Australian financial technology company. This acquisition aimed at allowing Block to better deliver compelling financial products as well as services which would expand access to more customers and help drive incremental revenue for sellers of all sizes

Significant Challenges 

Implementation and data security challenges are major factors hindering the market growth. Fintech companies entering the banking as a service space may encounter challenges in terms of product awareness and implementation. These challenges include navigating legal and security considerations, a limited understanding of available offerings, and the need to onboard additional service providers. Furthermore, the market's increased focus on data security and privacy adds to the concerns, as the digitization of customer financial data raises apprehensions about potential misuse. As a result, some financial enterprises may express scepticism about adopting banking as a service for their operations. These challenges may impede the growth of the global BaaS market during the forecast period.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Banking As A Service Market 2023-2027: Market Segmentation

This banking as a service (BaaS) market report extensively covers market segmentation by End-user (banks, NBFC, and government), Component (platform and services), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The BaaS market share growth by the banks segment will be significant during the forecast period. The increasing integration of advanced financial technology in banks is a key driver behind the segment's growth. Banking as a service enables banks to utilize APIs for seamless data sharing with third-party financial institutions. With open banking gaining prominence, banking as a service presents new revenue streams for banks. It offers cost-saving opportunities and enhances customer insights, making it an attractive solution for banks. These advantages are expected to fuel the adoption of banking as a service in banks, thereby driving the growth of the banks' segment in the global banking as a service (BaaS) market during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

Companies Mentioned

• 11:FS
• Alkami Technology Inc.
• Banco Bilbao Vizcaya Argentaria SA
• Block Inc.
• Bnkbl Ltd.
• ClearBank Ltd.
• CREALOGIX AG
• Currency Cloud Group Ltd.
• Finastra
• Fiserv Inc.
• Green Dot Corp.
• MatchMove Pay Pte Ltd.
• Movencorp Inc.
• PayPal Holdings Inc.
• Q2 Holdings Inc.
• Societe Generale SA
• Solarisbank AG
• StoneCastle Digital Solutions LLC
• Temenos Headquarters SA
• Urban FT Group Inc.

Vendors Offerings 

• 11:FS - The company offers banking as a service, such as 11 fs foundry. 
• Block Inc. - The company offers banking as a service, such as Square Banking. 
• Banco Bilbao Vizcaya Argentaria SA - The company offers banking as a service, such as BBVA Open Platform.

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The Banking as a Service Market in Latin America size is estimated to grow by USD 4,309.74 million between 2022 and 2027, accelerating at a CAGR of 20.2%. This report extensively covers market segmentation by Component (platform and services), Type (cloud-based and API-based), and End-user (large enterprise, small, and medium enterprise). Increasing adoption of BaaS solutions by end-users is a primary factor driving the growth of the banking as a service (BaaS) market in Latin America market growth. 

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Key Topics Covered:

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global banking as a service market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global banking as a service market 2017 - 2021 ($ million)

• 4.2 End user Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – End user Segment 2017 - 2021 ($ million)

• 4.3 Component Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Banks - Market size and forecast 2022-2027
• Exhibit 34: Chart on Banks - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Banks - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Banks - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Banks - Year-over-year growth 2022-2027 (%)

• 6.4 NBFC - Market size and forecast 2022-2027
• Exhibit 38: Chart on NBFC - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on NBFC - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on NBFC - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on NBFC - Year-over-year growth 2022-2027 (%)

• 6.5 Government - Market size and forecast 2022-2027
• Exhibit 42: Chart on Government - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Government - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Government - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Government - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by End-user 
• Exhibit 46: Market opportunity by End-user ($ million)

7 Market Segmentation by Component

• 7.1 Market segments 
• Exhibit 47: Chart on Component - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Component - Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 49: Chart on Comparison by Component
• Exhibit 50: Data Table on Comparison by Component

• 7.3 Platform - Market size and forecast 2022-2027
• Exhibit 51: Chart on Platform - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Platform - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Platform - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Platform - Year-over-year growth 2022-2027 (%)

• 7.4 Services - Market size and forecast 2022-2027
• Exhibit 55: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Component 
• Exhibit 59: Market opportunity by Component ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Canada - Market size and forecast 2022-2027
• Exhibit 93: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027
• Exhibit 97: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 11:FS 
• Exhibit 112: 11:FS - Overview
• Exhibit 113: 11:FS - Product / Service
• Exhibit 114: 11:FS - Key offerings

• 12.4 Banco Bilbao Vizcaya Argentaria SA
• Exhibit 115: Banco Bilbao Vizcaya Argentaria SA - Overview
• Exhibit 116: Banco Bilbao Vizcaya Argentaria SA - Business segments
• Exhibit 117: Banco Bilbao Vizcaya Argentaria SA - Key offerings
• Exhibit 118: Banco Bilbao Vizcaya Argentaria SA - Segment focus

• 12.5 Block Inc. 
• Exhibit 119: Block Inc. - Overview
• Exhibit 120: Block Inc. - Business segments
• Exhibit 121: Block Inc. - Key offerings
• Exhibit 122: Block Inc. - Segment focus

• 12.6 Bnkbl Ltd. 
• Exhibit 123: Bnkbl Ltd. - Overview
• Exhibit 124: Bnkbl Ltd. - Product / Service
• Exhibit 125: Bnkbl Ltd. - Key offerings

• 12.7 ClearBank Ltd. 
• Exhibit 126: ClearBank Ltd. - Overview
• Exhibit 127: ClearBank Ltd. - Product / Service
• Exhibit 128: ClearBank Ltd. - Key offerings

• 12.8 Currency Cloud Group Ltd. 
• Exhibit 129: Currency Cloud Group Ltd. - Overview
• Exhibit 130: Currency Cloud Group Ltd. - Product / Service
• Exhibit 131: Currency Cloud Group Ltd. - Key offerings

• 12.9 Finastra 
• Exhibit 132: Finastra - Overview
• Exhibit 133: Finastra - Product / Service
• Exhibit 134: Finastra - Key offerings

• 12.10 Green Dot Corp. 
• Exhibit 135: Green Dot Corp. - Overview
• Exhibit 136: Green Dot Corp. - Business segments
• Exhibit 137: Green Dot Corp. - Key offerings
• Exhibit 138: Green Dot Corp. - Segment focus

• 12.11 MatchMove Pay Pte Ltd. 
• Exhibit 139: MatchMove Pay Pte Ltd. - Overview
• Exhibit 140: MatchMove Pay Pte Ltd. - Product / Service
• Exhibit 141: MatchMove Pay Pte Ltd. - Key offerings

• 12.12 Movencorp Inc. 
• Exhibit 142: Movencorp Inc. - Overview
• Exhibit 143: Movencorp Inc. - Product / Service
• Exhibit 144: Movencorp Inc. - Key offerings

• 12.13 PayPal Holdings Inc. 
• Exhibit 145: PayPal Holdings Inc. - Overview
• Exhibit 146: PayPal Holdings Inc. - Product / Service
• Exhibit 147: PayPal Holdings Inc. - Key offerings

• 12.14 Societe Generale SA 
• Exhibit 148: Societe Generale SA - Overview
• Exhibit 149: Societe Generale SA - Business segments
• Exhibit 150: Societe Generale SA - Key offerings
• Exhibit 151: Societe Generale SA - Segment focus

• 12.15 Solarisbank AG 
• Exhibit 152: Solarisbank AG - Overview
• Exhibit 153: Solarisbank AG - Product / Service
• Exhibit 154: Solarisbank AG - Key offerings

• 12.16 StoneCastle Digital Solutions LLC
• Exhibit 155: StoneCastle Digital Solutions LLC - Overview
• Exhibit 156: StoneCastle Digital Solutions LLC - Product / Service
• Exhibit 157: StoneCastle Digital Solutions LLC - Key offerings

• 12.17 Urban FT Group Inc. 
• Exhibit 158: Urban FT Group Inc. - Overview
• Exhibit 159: Urban FT Group Inc. - Product / Service
• Exhibit 160: Urban FT Group Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 161: Inclusions checklist
• Exhibit 162: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 163: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 164: Research methodology
• Exhibit 165: Validation techniques employed for market sizing
• Exhibit 166: Information sources

• 13.5 List of abbreviations 
• Exhibit 167: List of abbreviations

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