Europe Fintech-as-a-Service Market Size, Share & Industry Trends Analysis Report By Technology (Blockchain, API, Artificial Intelligence, RPA), By End Use, By Type, By Application, By Country and Growth Forecast, 2022 - 2028

The Europe Fintech-as-a-Service Market is expected to witness market growth of 16.5 % CAGR during the forecast period (2022-2028).

Platforms and applications that provide banking as a service (BaaS) have developed as a practical and economical way to deliver financial services based on open banking concepts. To develop innovative digital services, banks must use a service-oriented and composable/modular architecture strategy. BaaS must be a part of traditional banks and financial institutions' digital transformation plans. It is anticipated that more traditional financial institutions is expected to interact with fintech by leveraging BaaS services to internalize cutting-edge technologies and enhance their products.

Real-time payments have already been embraced by a significant number of large organizations in the United States, and this number is projected to rise. Approximately 50 real-time payment options are currently active in several countries and regions. Due to the competitive advantage, it provides businesses, with less risk of payment failure, and increased cash flow efficiency, the urgency of payment settlement is in high demand. Real-time capabilities is expected to likely be expanded to include international payments as local systems gain greater traction and acceptance.

Artificial intelligence (AI) is being used more frequently in financial organizations to detect and reduce fraud through digital banking channels. Included are asset management, mobile banking, insurance, digital loans, credit scores, and buying and selling activities. AI systems can ascertain a customer's typical behavior by analyzing their interactions with other customers and looking at their purchases.

In the upcoming years, Europe is expected to experience rapid expansion in the Blockchain as a Service sector. Due to an increase in trade financing, post-trade or transaction settlements, cross-border payments & settlements, and transaction agreements, the banking industry is expected to invest a significant amount in these technologies. Additionally, the banking industry's spending on blockchain technology has been stimulated by the widespread acceptance of cryptocurrencies. This surge in blockchain technology investment will fuel the expansion of the local BaaS sector.

The Germany market dominated the Europe Fintech-as-a-Service Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $45,900.2 million by 2028. The UK market is anticipated to grow at a CAGR of 15.5% during (2022 - 2028). Additionally, The France market is expected to exhibit a CAGR of 17.3% during (2022 - 2028).

Based on Technology, the market is segmented into Blockchain, API, Artificial Intelligence, RPA, and Others. Based on End Use, the market is segmented into Insurance, Bank, Financial Lending Companies, and Others. Based on Type, the market is segmented into Payment, Fund Transfer, Loan, and Others. Based on Application, the market is segmented into Compliance & Regulatory Support, KYC Verification, Fraud Monitoring, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PayPal Holdings, Inc., Mastercard, Inc., Upstart Network, Inc., Block, Inc., Envestnet, Inc., SoFi Technologies, Inc., Rapyd Financial Network Ltd., Solid Financial Technologies, Inc., Synctera Inc., and Railsbank Technology Ltd. (Railsr).

Scope of the Study

Market Segments Covered in the Report:

By Technology

• Blockchain
• API
• Artificial Intelligence
• RPA
• Others

By End Use

• Insurance
• Bank
• Financial Lending Companies
• Others

By Type

• Payment
• Fund Transfer
• Loan
• Others

By Application

• Compliance & Regulatory Support
• KYC Verification
• Fraud Monitoring
• Others

By Country

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Key Market Players

List of Companies Profiled in the Report:

• PayPal Holdings, Inc.
• Mastercard, Inc.
• Upstart Network, Inc.
• Block, Inc.
• Envestnet, Inc.
• SoFi Technologies, Inc.
• Rapyd Financial Network Ltd.
• Solid Financial Technologies, Inc.
• Synctera Inc.
• Railsbank Technology Ltd. (Railsr)

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