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Banking-As-A-Service: Segment Analysis, Competitor Leaderboard & Market Forecasts 2022-2027

  • Report

  • 63 Pages
  • September 2022
  • Region: Global
  • Juniper Research
  • ID: 5703145

Total Banking-as-a-Service Platform Revenue to Reach Over $38 Billion Globally by 2027

The Banking-as-a-Service research report provides detailed analysis of this rapidly developing market. This includes an assessment of the various use cases and applications of BaaS (Banking-as-a-Service) within a range of markets, as well as the ongoing impact of increased digital banking and embedded finance usage. Additionally, the report includes an in-depth evaluation of 15 BaaS vendors via a the Competitor Leaderboard.

The research also provides industry benchmark forecasts for the market; covering BaaS usage and spend, split by the following categories, as well as by our 8 key regions and 60 countries:

  • Current Accounts
  • Card Issuing
  • Wealth Management & Savings
  • Prepaid Cards
  • Business Accounts

This research suite comprises:

  • Strategy & Forecasts (PDF)
  • 5-year Market Sizing & Forecast Spreadsheet (Excel)
  • 12 Months’ Access to harvest Online Data Platform

Key Market Statistics

Market Size in 2022:

  • $11bn

Market Size in 2027:

  • $38bn

2022 to 2027 Market Growth:

  • 240%

Key Features

Market Dynamics: In-depth assessment of the key trends and challenges currently facing the BaaS market; focusing on the applications of BaaS, increasing use of digital banking and monetisation opportunities for BaaS providers.

Segment Analysis: Analysis of important segments which are adopting BaaS strategies, including:

  • Small/Medium Enterprises
  • Large Enterprises
  • Fintechs
  • Banks
  • Consumers

The Competitor Leaderboard: Key player capability and capacity assessment for 15 vendors, including:

  • 11:FS Foundry
  • Bankable
  • BBVA
  • ClearBank
  • Column
  • Credi2
  • Fidor Bank
  • Green Dot
  • Marqeta
  • MatchMove Pay Pte
  • Railsr
  • Solaris
  • Starling Bank
  • The Bancorp Bank
  • Treezor

Benchmark Industry Forecasts: 5-year forecasts for 5 closely interlinked areas within BaaS, including current accounts, card issuing, wealth management & savings, prepaid cards and business accounts, split by our 8 key regions and the 60 countries listed below:

North America:

  • Canada, US

Latin America:

  • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay

West Europe:

  • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK

Central & East Europe:

  • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine

Far East & China:

  • China, Hong Kong, Japan, South Korea

Indian Subcontinent:

  • Bangladesh, India, Nepal, Pakistan

Rest of Asia Pacific:

  • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
  • Africa & Middle East
  • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates

Key Questions Answered

  • What will the BaaS projected total transaction value be by 2027?
  • What trends are driving the growth of the BaaS industry?
  • How have in-app purchasing and digital POS terminals affected BaaS demand?
  • How is BaaS being used within different industries? And which are the most profitable?
  • Who are the current leading vendors within the BaaS market? What are they doing successfully?

The Banking-as-a-Service forecast suite includes:

Regional splits for our 8 key forecast regions, as well as 60 country-level data splits for:

North America:

  • Canada, US

Latin America:

  • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay.

West Europe:

  • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK.

Central & East Europe:

  • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine.

Far East & China:

  • China, Hong Kong, Japan, South Korea.

Indian Subcontinent:

  • Bangladesh, India, Nepal, Pakistan.

Rest of Asia Pacific:

  • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam.

Africa & Middle East:

  • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates.
The BaaS forecast includes platform users, fee value and platform revenue split by service.

The publisher’s highly granular IFxls (interactive Excels) enable clients to manipulate our forecast data and charts to test their own assumptions, by using the interactive scenario tool, and compare select markets side by side in customised charts and tables. IFxls greatly increase clients’ ability to both understand a particular market and to integrate their own views into the model.

Table of Contents

1. Banking as a Service - Key Takeaways & Strategic Recommendations
1.1 Key Takeaways
1.2 Strategic Recommendations
2. Banking-as-a-Service - Market Landscape
2.1 Introduction
2.1.1 Definitions & Scope
2.1.2 Functionalities of BaaS
Figure 2.1: How BaaS Works
Figure 2.2: How APIs Work
2.2 Current Market Landscape
2.2.1 BaaS versus BaaP
Figure 2.3: BaaS versus BaaP
2.2.2 BaaS & Open Banking
Figure 2.4: How Open Banking Works
2.2.3 BaaS Applications: Effective Use cases
2.3 Current Trends
2.3.1 Increase in Digital Payments
Figure 2.5: Smartphone Penetration in 2021 (%), Split by the Top 25 Countries 12
2.3.2 Embedded Finance: Super apps
2.4 Future Outlook
2.4.1 BaaS for BNPL & POS Financing
2.4.2 B2B BaaS
2.4.3 Monetisation Opportunities
3. Banking-as-a-Service - Segment Analysis
3.1 Introduction
3.1.1 Small/Medium Enterprises
3.1.2 Large Enterprises
3.1.3 Fintechs
3.1.4 Banks
3.1.5 Consumers
4. Banking-as-a-Service - Competitor Leaderboard
4.1 Why Read This Report
Table 4.1: Competitor Leaderboard: BaaS Vendors
Figure 4.2: Competitor Leaderboard: BaaS Vendors
Table 4.3: Competitor Leaderboard: BaaS Vendors & Positioning
Table 4.4: Competitor Leaderboard Heatmap: BaaS Vendors 25
4.2 Vendor Profiles
4.2.1 11:FS Foundry
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.2 Bankable
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.3 BBVA
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.4 ClearBank
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.5 Column
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.6 Credi2
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.7 Fidor Bank
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.8 Green Dot
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.9 Marqeta
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.10 MatchMove Pay Pte
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.11 Railsr
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.12 Solaris
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.13 Starling Bank
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.14 The Bancorp Bank
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.2.15 Treezor
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Key Strengths & Strategic Development Opportunities
4.3 Vendor Analysis & Leaderboard
4.3.1 Limitations & Interpretations
Table 4.5: Competitor Leaderboard Heatmap Scoring Criteria: BaaS
5. Banking-as-a-Service - Market Forecasts
5.1 Introduction
5.2 Methodology & Assumptions
Figure 5.1: BaaS Forecast Methodology, Current Accounts
Figure 5.2: BaaS Forecast Methodology, Card Issuing
Figure 5.3: BaaS Forecast Methodology, Wealth Management & Savings
Figure 5.4: BaaS Forecast Methodology, Prepaid Cards
Figure 5.5: BaaS Forecast Methodology, Business Accounts
5.3 BaaS Forecasts
5.3.1 Total BaaS Consumer Users
Figure & Table 5.6: Total Number of B2C BaaS Users (m), Split by 8 Key Regions, 2022-2027
5.3.2 Total BaaS Consumer Transaction Volume
Figure & Table 5.7: Total BaaS Consumer Current/Checking Account Transaction Volume (m), Split by 8 Key Regions, 2022-2027
5.3.3 Total BaaS Business Transaction Volume
Figure & Table 5.8: Total BaaS Business Account Transaction Volume (m), Split by 8 Key Regions, 2022-2027
5.3.4 Total BaaS Platform Revenue
Figure & Table 5.9: Total BaaS Platform Revenue ($m), Split by 8 Key Regions, 2022-2027
Table 5.10: Total BaaS Platform Revenue ($m), Split by Service, 2022-2027.56

Companies Mentioned

  • Treasury Prime
  • Bankable
  • The Bancorp Bank
  • BBVA
  • ClearBank
  • Column
  • Credi2
  • Fidor Bank
  • Green Dot
  • Marqeta
  • MatchMove Pay Pte
  • Railsr
  • Solaris
  • Starling Bank
  • Treezor
  • 11:FS Foundry
  • AAZZUR
  • Aion Bank
  • Amazon
  • American Express
  • Apple
  • Arroweye Solutions
  • Capital
  • Churchill
  • CNP
  • Contis
  • Current
  • CyberSmart
  • Deutsche Bank
  • Digital Risk
  • Direct Line Group
  • Discover
  • Federal Deposit Insurance Corporation
  • Finleap
  • Goldman Sachs
  • Google
  • Intuit
  • Klarna
  • Mastercard
  • Maxi-Cash
  • Paysafe
  • PEXA
  • Plaid
  • QNTMPAY
  • Raiffeisen Bank International
  • Railsbank
  • Retreeb
  • Samsung
  • Sella
  • SumUp
  • Tap
  • Tappy Technologies
  • Totalenergies
  • Uber
  • UnionPay
  • Visa
  • Vodeno
  • Volkswagen Group
  • Walmart
  • Western Union
  • Xero
  • Ziglu
  • Zwipe