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Banking-As-A-Service (BaaS) Market Size, Segmentation, Regional Analysis, Key Drivers And Forecast To 2032
Banking-As-A-Service (BaaS) Market Analysis
The Business Research Company's Banking-As-A-Service (BaaS) Global Market Report 2023 identifies rising adoption of digital banking as the major driver for the banking-as-a-service (BaaS) market's growth in the forecast period. Digital banking refers to the use of computers to access banking features and services via the bank's website. The emergence of digital banking has fueled the expansion of the banking-as-a-service (BaaS) industry by growing client demand for accessible and personalized financial services while providing seamless integrations, expedited time-to-market, and cost-effective scalability for banking service providers.
The global banking-as-a-service (BaaS) market is expected to grow from $516.17 billion in 2022 to $614.62 billion in 2023 at a compound annual growth rate (CAGR) of 19.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The banking-as-a-service (BaaS) market is expected to reach $1,231.49 billion in 2027 at a CAGR of 19.0%.
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Major competitors in the banking-as-a-service (BaaS) market are Banco Bilbao Vizcaya Argentaria S.A., PayPal Holdings Inc., Square Inc., Green Dot Corporation, Paytm Payments Bank, Marqeta Inc., Starling Bank Ltd.
A key trend in the banking-as-a-service (BaaS) market includes cloud-native architecture. Cloud-native architecture refers to an approach in software development and deployment specifically designed to leverage the capabilities and benefits of cloud computing environments. Companies operating in the banking-as-a-service (BaaS) market are increasingly adopting cloud-native architecture to build and deliver their services and sustain their position in the market. For instance, in February 2023, Oracle, a US-based cloud technology company, launched Oracle Banking Cloud Services, a new set of componentized, composable cloud-native services such as banking accounts cloud service, banking payments cloud service, banking enterprise limits and collateral management cloud service, banking origination cloud service, banking digital experience cloud service, and banking APIs cloud service. Banks can access six new services that enable scalable corporate demand deposit processing, enterprise-wide limit and collateral management, real-time worldwide payments, API management, retail customer onboarding, and self-service digital experiences. These services facilitate the rapid and secure modernization of bank business capabilities through a microservices architecture.
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https://www.thebusinessresearchcompany.com/report/banking-as-a-service-baas-global-market-report
The banking-as-a-service (BaaS) market is segmented -
1) By Type: API-Based Bank-As-A-service, Cloud-Based Bank-As-A-Service
2) By Component: Platform, Services
3) By Enterprise: Large Enterprise, Small And Medium Enterprise
4) By End User: Banks, Non-Bank Financial Company (NBFC), Government, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the banking-as-a-service (BaaS) market.
The Business Research Company's "Global Banking-As-A-Service (BaaS) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Banking-As-A-Service (BaaS) Market Include:
1. Executive Summary
2. Aviation Insurance Market Characteristics
3. Aviation Insurance Market Trends And Strategies
4. Aviation Insurance Market - Macro Economic Scenario
….
33. Global Aviation Insurance Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aviation Insurance Market
35. Aviation Insurance Market Future Outlook and Potential Analysis
36. Appendix
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