Pune, Maharashtra -- (SBWIRE) -- 11/20/2023 -- According to HTF Market Intelligence, the Global Banking as a Service market to witness a CAGR of 23.07% during the forecast period (2023-2029). The Latest Released Banking as a Service Market Research assesses the future growth potential of the Banking as a Service market and provides information and useful statistics on market structure and size. This report aims to provide market intelligence and strategic insights to help decision-makers make sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report identifies and analyses the changing dynamics and emerging trends along with the key drivers, challenges, opportunities and constraints in the Banking as a Service market.

The Banking as a Service market size is estimated to increase by USD 29191.85 Million at a CAGR of 23.07% from 2023 to 2029. The report includes historic market data from 2017 to 2022E. Currently, the market value is pegged at USD 11795.51 Million.

The Major Players Covered in this Report: GreenDOT, BBVA Banco Bilbao Vizcaya Argentaria, S.A, Novopayment, Sopra Banking Software, PayPal, Mambu , Avaloq, Starling Bank , SolarisBank, RazorpayX

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Definition:
Banking as a Service (BaaS) is a financial service model that allows non-bank financial institutions, such as fintech companies, to offer banking services to their customers by using the infrastructure and services of traditional banks. In other words, BaaS enables third-party companies to build and offer their own banking products and services, without having to become a licensed bank themselves.Under the BaaS model, banks provide their infrastructure, such as customer-facing technology, payment processing, and regulatory compliance, to third-party financial institutions, which can then integrate these services into their own platforms. This allows fintech companies to offer banking products and services, such as digital wallets, payments, loans, and account management, without having to invest in their own banking infrastructure.

Market Trends:
The rising adoption of retail banking, as well as the third-party registrations in the UK and EU for open banking access, has unlocked capabilities towards baking as a service. For example, the retail lending in India has a growth rate (CAGR) of 16.2% over the FY2013 among emerging markets and thus improving the standard of BaaS from a different genre.

Market Drivers:
Cumulating Demand for Digital Money among People has Increased the Market Potential of the BaaS
Rising Fame of Internet Banking is making its way to Drive the Industry Parameters

Market Opportunities:
Digital banking & cards are providing an opportunity in this market. In this type of opportunity, the client can use these cards as a backbone to build retail or SME banking offerings. For example, Penta is one of the offerings from SolarisBank. This has also gained interest from traditional banks to build a new digital subsidiary or retail or online companies, which would like to offer their customers their own bank account or the payment card.

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The titled segments and sub-section of the market are illuminated below:
In-depth analysis of Banking as a Service market segments by Types: API-based, Cloud-Based
Detailed analysis of Banking as a Service market segments by Applications: Government, Banks, NBFC

Major Key Players of the Market: GreenDOT, BBVA Banco Bilbao Vizcaya Argentaria, S.A, Novopayment, Sopra Banking Software, PayPal, Mambu , Avaloq, Starling Bank , SolarisBank, RazorpayX

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Objectives of the Report:
- -To carefully analyse and forecast the size of the Banking as a Service market by value and volume.
- -To estimate the market shares of major segments of the Banking as a Service market.
- -To showcase the development of the Banking as a Service market in different parts of the world.
- -To analyse and study micro-markets in terms of their contributions to the Banking as a Service market, their prospects, and individual growth trends.
- -To offer precise and useful details about factors affecting the growth of the Banking as a Service market.
- -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Banking as a Service market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

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Key takeaways from the Banking as a Service market report:
– Detailed consideration of Banking as a Service market-particular drivers, Trends, constraints, Restraints, Opportunities, and major micro markets.
– Comprehensive valuation of all prospects and threats in the
– In-depth study of industry strategies for growth of the Banking as a Service market-leading players.
– Banking as a Service market latest innovations and major procedures.
– Favourable dip inside Vigorous high-tech and market latest trends remarkable the Market.
– Conclusive study about the growth conspiracy of Banking as a Service market for forthcoming years.

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Major highlights from Table of Contents:
Banking as a Service Market Study Coverage:
- It includes major manufacturers, emerging player's growth story, and major business segments of Banking as a Service market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
- Banking as a Service Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
- Banking as a Service Market Production by Region Banking as a Service Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.

Key Points Covered in Banking as a Service Market Report:
- Banking as a Service Overview, Definition and Classification Market drivers and barriers
- Banking as a Service Market Competition by Manufacturers
- Banking as a Service Capacity, Production, Revenue (Value) by Region (2023-2029)
- Banking as a Service Supply (Production), Consumption, Export, Import by Region (2023-2029)
- Banking as a Service Production, Revenue (Value), Price Trend by Type {API-based, Cloud-Based}
- Banking as a Service Market Analysis by Application {Government, Banks, NBFC}
- Banking as a Service Manufacturers Profiles/Analysis Banking as a Service Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
- Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

Major questions answered:
- What are influencing factors driving the demand for Banking as a Service near future?
- What is the impact analysis of various factors in the Global Banking as a Service market growth?
- What are the recent trends in the regional market and how successful they are?
- How feasible is Banking as a Service market for long-term investment?

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