Market Overview:
The global banking-as-a-service market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for banking-as-a-service from government, banks, and nonbanking financial companies (NBFCs). In addition, the growing trend of cloud computing is also contributing to the growth of this market. The API-based bank-as -a service segment is expected to grow at a higher CAGR than the cloud -based bank - as - a service segment during the forecast period. This can be attributed to th e growing demand for API services from various industry verticals . The Asia Pacific region is expected t o witness high growth in this market during th e forecast period .
Product Definition:
Banking-as-a-Service (BaaS) is a model of banking that delivers core banking capabilities as a service. This means that banks can outsource parts of their operations to third-party providers, which can help them reduce costs, improve efficiency and agility, and focus on their core competencies. The importance of BaaS lies in the fact that it offers banks a way to modernize their operations and keep up with the demands of the digital age.
API-based Bank-as-a-Service:
API-based Bank-as-a-Service (BaaS) is a cloud service model that allows developers to integrate the functionality of banks with third party applications. The API based BaaS model offers several benefits such as reduced costs, increased efficiency, and flexibility to the banking industry. Moreover, it also helps in enhancing customer experience by providing seamless access to financial services through various channels such as mobile and web interface.
Cloud-based Bank-as-a-Service:
Cloud-based Bank-as-a-Service (BaaS) is a type of Software as a Service (SaaS) model that provides various banking services through the internet. The BaaS model allows customers to access their bank accounts and carry out transactions online using mobile devices or computers without any additional hardware.
Application Insights:
The banks segment held the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growing adoption of online banking services has led to an increased demand for BaaS, which in turn is likely to fuel industry expansion. Moreover, increasing penetration of smartphones coupled with rising disposable income levels across developing countries such as India and China are expected to drive industry growth over the forecast period.
The non-banking financial companies (NBFC) segment is anticipated register significant growth during the forecast period owing to a surge in cloud-based applications development for various business functions such as accounting, risk management and payment solutions among others. Furthermore, increasing usage of mobile payments among NBFCs also supports revenue generation through application development partnerships.
Regional Analysis:
The market in North America is expected to witness significant growth over the forecast period owing to the presence of a large number of global players and increased adoption of advanced technologies. The region accounted for more than 35% revenue share in 2016 and is estimated to grow at a CAGR exceeding 5% from 2017 to 2030.
The Asia Pacific banking-as-a service market is anticipated gain significant traction over the next eight years due to increasing demand from small & medium enterprises (SMEs) for mobile, web, API based access. The growing trend towards cloud computing among SMEs will further propel regional growth. Additionally, increasing investments by governments are also contributing towards market growth across this region as it enables banks provide BaaS services at low costs thereby catering primarily needs of emerging economies such as India & China and other countries in Southeast Asia).
Growth Factors:
- Increased demand for banking services from the unbanked and underbanked population
- Rapid technological advancements in the banking sector
- Rising need for cost-effective and efficient banking solutions
- Proliferation of mobile devices and apps that offer banking services
- Growing preference for digital/mobile payments over traditional methods
Scope Of The Report
Report Attributes
Report Details
Report Title
Banking-as-a-Service Market Research Report
By Type
API-based Bank-as-a-Service, Cloud-based Bank-as-a-Service
By Application
Government, Banks, NBFC
By Companies
SolarisBank, Sqaure, PayPal, Fidor Bank, Moven, Prosper, OANDA, Currency Cloud, Intuit, Gemalto, BOKU, Invoicera, Coinbase, Authy, Dwolla, GoCardless
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
198
Number of Tables & Figures
139
Customization Available
Yes, the report can be customized as per your need.
Global Banking-as-a-Service Market Report Segments:
The global Banking-as-a-Service market is segmented on the basis of:
Types
API-based Bank-as-a-Service, Cloud-based Bank-as-a-Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Government, Banks, NBFC
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- SolarisBank
- Sqaure
- PayPal
- Fidor Bank
- Moven
- Prosper
- OANDA
- Currency Cloud
- Intuit
- Gemalto
- BOKU
- Invoicera
- Coinbase
- Authy
- Dwolla
- GoCardless
Highlights of The Banking-as-a-Service Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- API-based Bank-as-a-Service
- Cloud-based Bank-as-a-Service
- By Application:
- Government
- Banks
- NBFC
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Banking-as-a-Service Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Banking-as-a-service (BaaS) is a model in which banks offer their customers access to a range of banking products and services through the cloud. Customers can use BaaS to manage their finances, including checking and savings accounts, loans, mortgages, and credit cards.
Some of the key players operating in the banking-as-a-service market are SolarisBank, Sqaure, PayPal, Fidor Bank, Moven, Prosper, OANDA, Currency Cloud, Intuit, Gemalto, BOKU, Invoicera, Coinbase, Authy, Dwolla, GoCardless.
The banking-as-a-service market is expected to register a CAGR of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Banking-as-a-Service Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Banking-as-a-Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Banking-as-a-Service Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Banking-as-a-Service Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Banking-as-a-Service Market Size & Forecast, 2018-2028
4.5.1 Banking-as-a-Service Market Size and Y-o-Y Growth
4.5.2 Banking-as-a-Service Market Absolute $ Opportunity
Chapter 5 Global Banking-as-a-Service Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Banking-as-a-Service Market Size Forecast by Type
5.2.1 API-based Bank-as-a-Service
5.2.2 Cloud-based Bank-as-a-Service
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Banking-as-a-Service Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Banking-as-a-Service Market Size Forecast by Applications
6.2.1 Government
6.2.2 Banks
6.2.3 NBFC
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Banking-as-a-Service Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Banking-as-a-Service Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Banking-as-a-Service Analysis and Forecast
9.1 Introduction
9.2 North America Banking-as-a-Service Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Banking-as-a-Service Market Size Forecast by Type
9.6.1 API-based Bank-as-a-Service
9.6.2 Cloud-based Bank-as-a-Service
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Banking-as-a-Service Market Size Forecast by Applications
9.10.1 Government
9.10.2 Banks
9.10.3 NBFC
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Banking-as-a-Service Analysis and Forecast
10.1 Introduction
10.2 Europe Banking-as-a-Service Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Banking-as-a-Service Market Size Forecast by Type
10.6.1 API-based Bank-as-a-Service
10.6.2 Cloud-based Bank-as-a-Service
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Banking-as-a-Service Market Size Forecast by Applications
10.10.1 Government
10.10.2 Banks
10.10.3 NBFC
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Banking-as-a-Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Banking-as-a-Service Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Banking-as-a-Service Market Size Forecast by Type
11.6.1 API-based Bank-as-a-Service
11.6.2 Cloud-based Bank-as-a-Service
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Banking-as-a-Service Market Size Forecast by Applications
11.10.1 Government
11.10.2 Banks
11.10.3 NBFC
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Banking-as-a-Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Banking-as-a-Service Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Banking-as-a-Service Market Size Forecast by Type
12.6.1 API-based Bank-as-a-Service
12.6.2 Cloud-based Bank-as-a-Service
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Banking-as-a-Service Market Size Forecast by Applications
12.10.1 Government
12.10.2 Banks
12.10.3 NBFC
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Banking-as-a-Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Banking-as-a-Service Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Banking-as-a-Service Market Size Forecast by Type
13.6.1 API-based Bank-as-a-Service
13.6.2 Cloud-based Bank-as-a-Service
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Banking-as-a-Service Market Size Forecast by Applications
13.10.1 Government
13.10.2 Banks
13.10.3 NBFC
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Banking-as-a-Service Market: Competitive Dashboard
14.2 Global Banking-as-a-Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SolarisBank
14.3.2 Sqaure
14.3.3 PayPal
14.3.4 Fidor Bank
14.3.5 Moven
14.3.6 Prosper
14.3.7 OANDA
14.3.8 Currency Cloud
14.3.9 Intuit
14.3.10 Gemalto
14.3.11 BOKU
14.3.12 Invoicera
14.3.13 Coinbase
14.3.14 Authy
14.3.15 Dwolla
14.3.16 GoCardless
