Dallas, May 25, 2021 (GLOBE NEWSWIRE) -- Banking-as-a-Service (BaaS) is a methodology following an end-to-end procedure which is completely conducted online over web platforms. Increasing amount of ease and convenience provided by BaaS is gaining itself immense popularity and customer acceptance. Furthermore, a growing global environment is witnessing an extensive range of connectivity and a surge I cross-cultural business enterprises with some functioning completely online based on cloud-enabled platforms and other online services. Such an evolution of banking and transactions is propelling the growth of the global banking-as-a-service market growth. The main functional objective of the BaaS market is to indulge in delivering a holistic procedure that ensures a thorough execution of a financial service provided over the internet.
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Banking-As-A-Service (Baas) Market Leading Players –
BBVA
SolarisBank
BitFlyer
Fidor Bank
MatchMove
ClearBank
Starling Bank
Banking-As-A-Service (Baas) Market Breakdown by Type
API-based
Cloud-based
Banking-As-A-Service (Baas) Market Breakdown by Application
Banking
Online Banks
The main objective of the BaaS market is to integrate multiple service providers as per requirement compiling into a singular comprehensive process thereby completing a financial service efficiently and minimizing the time consumption of the overall procedure. The major advantage of the emerging integration of technology with conventional banking services has been the ease of banking procedures for both the customers and the providers coupled with a more streamlined process. Banking-as-a-service market has enabled numerous banks and financial institutions to offer their customers with a customized and personalized service experience based on their needs. Furthermore, faster transaction with sufficient security is a major appealing factor appealing a larger demand rate for the BaaS market.
The Banking-as-a-Service market offers two variables of services which includes cloud-based bank-as-a-service and API-based Bank-as-a-service. The Application Programming Interface (API) based Baas offers the banking services to the customers via digital platforms along with providing financial technology service providers and third parties to access the ban systems directly. Baas services fall under the umbrella term of open banking. Many countries in today’s market scenario have been inclined towards adopting open banking standards. There is a growing customer demand for sharing data and attaining access to the infrastructure which is fulfilled by open banking and BaaS.
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The Banking-as-a-Service market is highly driven by the technological aid and the market across Asia Pacific, South America and Middle East faces a severe technological and digital gap withing the BFSI industry thus lagging the growth of the BaaS market in these expanding regions. Along with this, even though Asia Pacific houses growing SMEs environment, the level of awareness and potential for adoption of technologically equipped systems is not very prevalent. North America is expected to dominate the market owing to the extensive adoption of banking-as-a-service systems by the more tech-savvy banks prevailing in U.S and Canada.
Banking-As-A-Service (Baas) MarketTable of Content
1 Banking-as-a-Service (BaaS) Market - Research Scope
1.1 Study Goals
1.2 Market Definition and Scope
1.3 Key Market Segments
1.4 Study and Forecasting Years
2 Banking-as-a-Service (BaaS) Market - Research Methodology
2.1 Methodology
2.2 Research Data Source
2.2.1 Secondary Data
2.2.2 Primary Data
2.2.3 Market Size Estimation
2.2.4 Legal Disclaimer
3 Banking-as-a-Service (BaaS) Market Forces
3.1 Global Banking-as-a-Service (BaaS) Market Size
3.2 Top Impacting Factors (PESTEL Analysis)
3.2.1 Political Factors
3.2.2 Economic Factors
3.2.3 Social Factors
3.2.4 Technological Factors
3.2.5 Environmental Factors
3.2.6 Legal Factors
3.3 Industry Trend Analysis
3.4 Industry Trends Under COVID-19
3.4.1 Risk Assessment on COVID-19
3.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
3.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
3.5 Industry Risk Assessment
4 Banking-as-a-Service (BaaS) Market - By Geography
4.1 Global Banking-as-a-Service (BaaS) Market Value and Market Share by Regions
4.1.1 Global Banking-as-a-Service (BaaS) Value ($) by Region (2015-2020)
4.1.2 Global Banking-as-a-Service (BaaS) Value Market Share by Regions (2015-2020)
4.2 Global Banking-as-a-Service (BaaS) Market Production and Market Share by Major Countries
4.2.1 Global Banking-as-a-Service (BaaS) Production by Major Countries (2015-2020)
4.2.2 Global Banking-as-a-Service (BaaS) Production Market Share by Major Countries (2015-2020)
4.3 Global Banking-as-a-Service (BaaS) Market Consumption and Market Share by Regions
4.3.1 Global Banking-as-a-Service (BaaS) Consumption by Regions (2015-2020)
4.3.2 Global Banking-as-a-Service (BaaS) Consumption Market Share by Regions (2015-2020)
5 Banking-as-a-Service (BaaS) Market - By Trade Statistics
5.1 Global Banking-as-a-Service (BaaS) Export and Import
5.2 United States Banking-as-a-Service (BaaS) Export and Import (2015-2020)
5.3 Europe Banking-as-a-Service (BaaS) Export and Import (2015-2020)
5.4 China Banking-as-a-Service (BaaS) Export and Import (2015-2020)
5.5 Japan Banking-as-a-Service (BaaS) Export and Import (2015-2020)
5.6 India Banking-as-a-Service (BaaS) Export and Import (2015-2020)…..continued
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