BaaS (Banking-As-A-Service) Market

BaaS (Banking-As-A-Service) Market Size, Share & Trends Analysis Report

BaaS (Banking-As-A-Service) Market By Product Type(API-Based Bank-As-A-Service, Cloud-Based Bank-As-A-Service), By End-User(Banking, Online Banks), Industry Analysis, Trends, And Forecast, 2021-2027

Report ID : BMRC 1559
Number of pages : 300
Published Date : Nov 2022
Category : Technology And Media
Delivery Timeline : 48 hrs
Single User : $3250

Corporate User : $7999

Global BaaS (Banking-as-a-Service) Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Its increasing adoption in financial services and growing awareness regarding internet banking are driving the growth of Global BaaS Market.

Scope of Global BaaS Market Report

BaaS is an end-to-end process that enables financial technology and other third parties to communicate directly with banks systems through APIs, allowing them to create banking offerings on top of the providers controlled infrastructure and reorganizing the global financial services environment. Banking-as-a-Service (BaaS) systems have emerged as a core component of open banking, in which banks open their application programming interfaces (APIs) for third parties to create new services, giving account holders more financial transparency choices. BaaS seeks to integrate as many service providers as are required into a single comprehensive process in order to complete a financial service in an efficient and timely manner. BaaS is made possible by the seamless incorporation of financial services and goods into non-financial digital channels. Consumers are gradually turning to these networks for services like e-commerce, travel, shopping, fitness, and telecom. Financial institutions have a strong opportunity to generate new revenue at a low cost by using BaaS. A BaaS company is also flexible and agile, making it ideal for breaking into new markets and then expanding. For distributors, it's a chance to diversify their revenue streams while also gaining a better understanding of customer behaviour through financial data. The advancement of techniques to increase consumer awareness and the creation of strong networks might actually open more market growth opportunities.

The COVID-19 pandemic has shown a decline impact on the growth of  global banking-as-a-service (BaaS) market owing to lockdown. Due to lockdown, people have been forced to stay indoors and bank were closed and also there is reduced investment in BaaS.

Global BaaS Market report is segmented on the basis of product, end-user and region & country level. Based upon product, global BaaS market is classified into API-based bank-as-a-service and cloud-based bank-as-a-service. Based upon end-user, the BaaS market is divided into banking and online banks.

Global BaaS Market Segmentation:

By Product Type:

  • API-based Bank-as-a-service
  • Cloud-based Bank-as-a-service

By End-user:

  • Banking
  • Online Banks

The regions covered in Global BaaS Market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global BaaS is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.

Key Players for Global BaaS Market Report:

Some key players for Global BaaS Market are Authy, Braintree, BOKU, Coinbase, Currency Cloud, Dwolla, Finexra, Finetechs, Fidor Bank, GoCardless, Gemalto, Intuit, Invoicera, iZettle, OANDA, PayPal, Prosper, Square, Solaris Bank, Moven, and others.  

News: SwissBorg Accelerated its Growth and Adopted OpenPayd's Banking-as-a-Service Platform in Europe.

May 13th, 2021; OpenPayd, a leading global payments and banking-as-a-service (BaaS) platform for the digital economy, reported that it is collaborating with SwissBorg, a block chain-based crypto currency wealth management platform. SwissBorg can easily integrate a full suite of financial services into its user interface, resulting in faster processing times and lower operating costs to support future business development. Scaling to meet demand is critical for digital asset businesses as the price of Bitcoin continues to set new all-time highs, the most recent hitting more than $63,000. SwissBorg is a rapidly expanding network that found itself in the unlikely position of needing to replace their existing banking provider on short notice due to a large increase in user numbers (a common issue for cryptocurrency businesses). Its monthly new user growth has increased by nearly 800 percent since launching with OpenPayd and it required a solution to help its scaling. SwissBorg can move into the deposit flow through API and automatically accept or deny any incoming deposits before funds are allocated to an individual customer, using OpenPayd platform to help minimize fraud.

Its Increasing Adoption in Financial Services and Growing Awareness Regarding Internet Banking are Driving the Growth of Global BaaS Market

The major factor driving the growth of global BaaS market is its increased adoption in financial services. The increased use of financial services including banking, professional advisory, wealth management, mutual funds, insurance, stock exchange, treasury/debt instruments, tax/audit consulting, capital restructuring, and portfolio management reflects increased banking transactional development with digital transactions. For instance; according to RBI, The payment and settlement systems experienced strong growth in 2019-20, increasing by 44.1% in volume on top of a 55.8% increase the previous year. During 2019-20, the share of digital transactions in total non-cash retail payments increased to 97.0%, up from 95.4% the previous year. The amount of credit and debit card payment transactions increased by 23.5% and 16.1%, respectively in 2019-20, while the volume increased by 21.1% and 35.6% to 7.3 lakh crore and 8.0 lakh crore respectively. Thus it is driving the growth of the market.

In addition, increased awareness regrading the internet banking is also driving the growth of BaaS market. As customers are using internet banking to access a variety of services, including 24-hour banking, cash transfers, balance checks, account statements and online purchases and providing this service is undoubtedly more reliable. According to Journal of Social Sciences and Management 2016, customers between the ages of 25 and 40 are most likely to use the internet banking service. A majority of respondents (54%) said that the internet banking service is convenient because it is available 24 hours a day, seven days a week. Internet banking is user-friendly, according to about 42% of respondents. It has been revealed that there is a connection between the type of banking used and the amount of money saved by bank customers. Customers claim that internet banking saves them time and money, especially when it comes to transportation costs. this is also contributing in the growth of the market.

However, rising concerns about the security of banking services, as well as an increase in banking fraud cases, may hamper BaaS market growth. Despite this, progress in developing more banking services in various fields may provide more opportunities for the further growth of the global BaaS market.

North America is Anticipated to Dominate the Global BaaS Market

On the basis of region, the global BaaS market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global BaaS market within the forecast period owing to the growing financial market and increased growth of insurance sectors in this region. For instance, according to International Trade Administration's Industry & Analysis Unit (I&A), The United States has the world's biggest and most liquid financial markets. Finance and insurance accounted for 7.4% (or $1.5 trillion) of the US gross domestic product in 2018. Financial services and products aid in the facilitation and financing of the export of manufactured and agricultural goods from the United States. In 2017, the US exported $114.5 billion in financial services and insurance; with a $40.8 billion surplus in the financial services and insurance trade (excluding reinsurance, the financial services and insurance sectors had a $69.6 billion surplus). The banking sector in the United States had $17.9 trillion in assets and $236.8 billion in net profits at the end of 2018.

Europe is expected to expand rapidly in this market during the forecast period owing to the increasing use of internet banking, digital payments systems and increased use of banking services in this region. For instance; according to Management International Conference 2019, around half of adult Europeans (51%) use internet banking. This percentage is steadily rising, having doubled since 2007, when it was 25%. Internet banking is especially common among people aged 25 to 34, with 68% of them using it. The use of internet banking rises in tandem with the user's level of education. E-banking is used by just 24% of those with a low level of education.

Report Analysis Details
Historical data 2015 - 2020
Forecast Period 2021 - 2027
Market Size in 2020: XX
Base year considered 2020
Forecast Period CAGR %:


Market Size Expected in 2027: XX
Tables, Charts & Figures: 175
Pages 200
Key Players/Companies Authy, Braintree, BOKU, Coinbase, Currency Cloud, Dwolla, Finexra, Finetechs, Fidor Bank, GoCardless, Gemalto, Intuit, Invoicera, iZettle, OANDA, PayPal, Prosper, Square, Solaris Bank, Moven, and others
Segments Covered By Product Type, By End-user
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits for Global BaaS Market Report:

  • Global BaaS Market report covers in-depth historical and forecast analysis.
  • Global BaaS Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
  • Global BaaS Market report helps to identify opportunities in marketplace.
  • Global BaaS Market report covers extensive analysis of emerging trends and competitive landscape.

BaaS Market By Regional & Country Level:

North America

  • U.S.
  • Canada


  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe


  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA
Vishal Sawant
Busines Development
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