Press release
Global Fintech as a Service (FaaS) Market Projected to Surpass $906.64 Billion by 2029 with 20% Annual Growth
Fintech as a Service (FaaS) Market
The push towards digital banking and transactions is projected to spur the expansion of the fintech as a service market. Digital banking, which eliminates paper-based procedures like demand drafts, pay-in slips, and checks, is done entirely on a digital platform. Digital banking employs Fintech as a Service (FaaS) for various applications, including mobile apps, web-based platforms, APIs, and even advanced software utilizing artificial intelligence and machine learning for financial advisory. FaaS also provides solutions for digital banking, allowing businesses to offer online banking services to customers. A report from Finder.com, an independent comparison website based in Australia, stated that in July 2023, it was estimated that 93% of Brits were using online banking services in 2022. Furthermore, another 5.3 million Brits (10%) plan to open a digital-only bank account in 2023. By 2028, the anticipated number of digital bank account holders will be around 22.6 million (43%). Consequently, the surge in the shift towards digital banking and transactions is fueling the growth of the fintech as a service market.
Get Your Fintech as a Service (FaaS) Market Report Here:
https://www.thebusinessresearchcompany.com/report/fintech-as-a-service-faas-global-market-report
What is the projected compound annual growth rate (CAGR) of the fintech as a service (faas) market from 2025 to 2034, and what factors influence it?
The expansion of the fintech as a service (FaaS) market has been swift and significant in past years. It is projected to balloon from a market size of $378.33 billion in 2024 to $441.47 billion in 2025, maintaining a compound annual growth rate (CAGR) of 16.7%. The substantial growth observed during the historical period can be traced back to the advent of digital transformation, the widespread penetration of mobile and internet, changes in regulations, the emergence of APIS, and the rising demand for efficiency.
In the coming years, the FinTech as a Service (FaaS) market is projected to experience accelerated expansion. The market size is forecasted to reach $906.64 billion in 2029, growing at a compound annual growth rate (CAGR) of 19.7%. The key contributing factors for this exponential growth in the forecast period are ai and automation, the proliferation of open banking, the emergence of blockchain and cryptocurrency, the globalization of services, and the increased emphasis on data security and privacy. During the forecast period, we can expect to see major trends such as embedded finance, growth in the AP ecosystem, RegTech and compliance solutions, advanced payment solutions, and a concentrated focus on sustainable finance.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12612&type=smp
What new trends are reshaping the fintech as a service (faas) market and its opportunities?
Advancements in technology are becoming an increasingly popular trend within the fintech as a service market. Many leading corporations within this market are shifting their focus towards the development of technologically innovative solutions to consolidate their market standing. For example, in April 2023, the US regional bank holding company Valley National Bank introduced a fresh fintech innovation platform powered by NayaOne. The platform, which is fully integrated with the products and services of a variety of financial businesses, offers a straightforward and end-user-friendly onboarding process. The platform features an array of tools designed to create and utilize synthetic data, which enables Valley and its fintech allies to efficiently trial new solutions in a secure, controlled setting.
What are the major segments of the fintech as a service (faas) market and their role in driving growth?
The fintech as a service (FaaS) market covered in this report is segmented -
1) By Type: Banking, Payment, Insurance, Investment, Lending, Other Types
2) By Technology: Artificial Intelligence (AI), Blockchain, Robotic Process Automation (RPA), Application Programming Interfaces (API), Other Technologies
3) By Application: Fraud Monitoring, KYC Verification, Compliance And Regulatory Support, Other Applications
4) By End-User: Banks, Financial Institutions, Insurance Companies, Other End-Users
Subsegments:
1) By Banking: Core Banking Solutions, Digital Banking Platforms, Compliance And Risk Management Solutions
2) By Payment: Payment Gateway Services, Digital Wallet Solutions, Mobile Payment Solutions
3) By Insurance: Insurtech Solutions, Policy Management Systems, Claims Processing Platforms
4) By Investment: Robo-Advisory Services, Portfolio Management Solutions, Trading Platforms
5) By Lending: Peer-To-Peer Lending Platforms, Loan Origination Systems, Credit Scoring Solutions
6) By Other Types: Cryptocurrency Services, Regulatory Technology (RegTech), Financial Analytics Solutions
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12612
Which regions are key players in the growth of the fintech as a service (faas) market?
North America was the largest region in the fintech as a service market in 2024. The regions covered in the fintech as a service (FaaS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the fintech as a service (faas) market?
Major companies operating in the fintech as a service (FaaS) market include Stripe Inc., Rapyd Financial Network Ltd., Visa Inc., Mastercard Incorporated, Fiserv Inc., Block Inc., Fidelity National Information Services Inc., Global Payments Inc., NCR Corporation, Broadridge Financial Solutions, Worldline SA, Diebold Nixdorf Incorporated, Coinbase Global Inc, WEX Inc., Jack Henry and Associates Inc., Chime Financial Inc., Finastra, Green Dot Corporation, Envestnet Inc., Adyen NV, Temenos AG, Revolut Ltd., Marqeta Inc., Airwallex Pty Ltd., Plaid Inc., Finix Payments Inc., Square Capital LLC, Dwolla Inc., Synctera Inc., Solid Financial Technologies Inc.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12612&type=smp
What Is Covered In The Fintech as a Service (FaaS) Global Market Report?
• Market Size Forecast: Examine the fintech as a service (faas) market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the fintech as a service (faas) market for a structured understanding.
• Key Players Overview: Analyze major players in the fintech as a service (faas) market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fintech as a service (faas) market.
• Segment Contributions: Evaluate how different segments drive overall growth in the fintech as a service (faas) market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fintech as a service (faas) market.
• Industry Challenges: Identify potential risks and obstacles affecting the fintech as a service (faas) market.
• Competitive Landscape: Review strategic developments in the fintech as a service (faas) market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Fintech as a Service (FaaS) Market Projected to Surpass $906.64 Billion by 2029 with 20% Annual Growth here
News-ID: 3896349 • Views: …
More Releases from The Business Research Company
In-Depth Examination of Segments, Industry Developments, and Key Competitors in …
The fiber-laser naval close-in weapon system market is on the verge of significant expansion as naval defense technology continues to evolve. With defense forces worldwide focusing on upgrading maritime security, this sector is set to experience notable advancements and increased adoption in the coming years. Let's explore the current market size, key drivers, leading players, emerging trends, and important segments shaping this vital defense technology.
Projected Market Size and Growth of…
Competitive Analysis: Key Market Leaders and New Entrants in the Explosives and …
The explosives and pyrotechnics market is set to experience significant expansion in the coming years, driven by technological progress and evolving industry demands. This sector plays a crucial role across various fields such as mining, construction, defense, and entertainment, making it a dynamic and essential market to watch. Let's explore the market's projected growth, leading companies, emerging trends, and segment breakdown to understand its future trajectory.
Forecasted Market Value of the…
Leading Firms Spearheading Innovation and Growth in the Composites for Defense M …
The composites used in defense applications are attracting considerable attention as advancements continue to drive market expansion. With new technologies and increasing demand for lightweight, durable materials, this sector is set for significant growth in the coming years. Let's explore the market's expected size, the main players involved, evolving trends, and key segments shaping its future.
Projected Market Growth and Size for Composites in Defense
The composites in the defense market is…
Emergency Communications Drone Market Overview: Major Segments, Strategic Develo …
The emergency communications drone sector is on the brink of significant expansion, driven by technological advances and increasing demand for efficient crisis response tools. As emergencies and disasters become more complex, drones offer innovative ways to enhance communication and coordination, making them indispensable for various applications. Let's explore the market's growth projections, key players, current trends, and segmentation to understand this emerging industry's trajectory.
Projected Growth and Market Size of the…
More Releases for FaaS
Farming As A Service (FaaS) Market Size & Forecast to 2031
The Farming-as-a-Service (FaaS) market is rapidly gaining prominence as a key driver of agricultural innovation and efficiency around the world. This evolution of traditional farming into a modern, service-oriented ecosystem is enabling stakeholders - from small‐scale farmers to large agribusinesses - to adopt advanced technologies, improve productivity, and connect more effectively with markets. Recent industry activity underscores the growing importance of FaaS in reshaping how agriculture operates in a digitally…
Financial accounting advisory services (FAAS) Market Size And Global Industry Fo …
Digitalization, Regulatory Complexity, and Strategic Consulting Drive Market Momentum
Introduction
The global financial accounting advisory services (FAAS) market has emerged as a critical segment within the financial services industry, catering to evolving needs in corporate governance, compliance, digital finance transformation, and business restructuring. Organizations across sectors are increasingly relying on financial advisory firms to navigate the complexities of accounting regulations, enhance transparency, and ensure resilience in a volatile global economy. The Exactitude…
Fintech as a Service (FaaS) Market: High Growth Projection and Key Players Analy …
Booming Fintech as a Service (FaaS) Market Predicted to Reach $906.64 billion by 2029
What Is The Projected Market Size Of The Global Fintech as a Service (FaaS) Market And Its Growth Rate?
The Fintech as a Service (FaaS) market has seen substantial growth in recent years:
• The market has grown from $378.33 billion in 2024 to $441.47 billion in 2025, with a compound annual growth rate (CAGR) of 16.7%.
• This growth…
FAAS Market Regional Developments, Industry Future Demands and Competitive Lands …
The FAAS market research report is proficient and top to bottom research by specialists on the current state of the industry. This statistical surveying report gives the most up to date industry information and industry future patterns, enabling you to distinguish the items and end clients driving income development and benefit. It centres around the real drivers and restrictions for the key players and present challenge status with development prospects.…
India FaaS Market Size, Status, Top Players, Trends in Upcoming Years
The government of India has set up the Agricultural Technology Management Agency (ATMA) to strengthen research–extension–farmer linkages, improve the quality and type of technologies being distributed, offer an effective mechanism for management and coordination of activities of multiple agencies involved in technology validation/adaption and dispersion at the district level and below, and march toward shared ownership of the agricultural technology systems among prominent shareholders.
Get the Free Sample Pages: https://www.psmarketresearch.com/market-analysis/india-farming-as-a-service-faas-market/report-sample
The…
India FaaS Market Size, Share, Growth, Trends, Applications, and Industry Strate …
Factors such as the increasing implementation of government initiatives to support the farmers, such as the Pradhan Mantri Krishi Sinchayee Yojana (PMSY) and Soil Health Card Scheme, and improving internet connectivity in rural areas will fuel the Indian farming as a service (FaaS) market growth during the forecast period (2021–2030). Moreover, the rising efforts made by private companies to enhance the productivity and efficiency of the agriculture sector will also…
