Tech-Banking-as-a-service to rise 240% in 5 years

Tech-Banking-as-a-service to rise 240% in 5 years

In the next five years, banking-as-a-service is expected to grow by 240%.

The fintech banking revolution is still going on, and new research shows that the total banking-as-a-service (BaaS) space will bring in US$38 billion in revenue by 2027. Strong partnerships and a global presence are seen as successful features of the companies that are leading the way.


Tech-Banking-as-a-service to rise 240% in 5 years


A new study from Juniper Research says that the BaaS sector will be worth US$11 billion in 2022. It also says that the next five years of growth will be driven by the ability of the global industry to make banking and payments easy to use and improve relationships between brands and customers.

BaaS lets companies that aren’t banks offer financial services to their customers without having a banking license or infrastructure. Juniper says this lets brands make more money without spending time and money to build new capabilities in-house.

The research looked closely at the 15 biggest BaaS providers around the world. They were judged on things like distribution and partnerships, the number of services they offered, and their future business prospects.

This led Juniper to decide that Green Dot, Marqeta, and Solaris are the top three vendors. Bankable, The Bancorp Bank, BBVA, ClearBank, Column, Credi2, Fidor Bank, MatchMove Pay, Railsr, Starling Bank, Treezor, and 11:FS Foundry were some of the other companies on the Juniper Research Competitor Leaderboard.
Banking as a service is led by Green Dot, Marqeta, and Solaris.

Twitter CEO Parag Agrawal told Musk Treat me like



Juniper says that Green Dot is the leader in the BaaS market because it has strong partnerships with big retailers like Apple and Walmart. The company also offers a wide range of banking and payment services, such as issuing cards, making custom rewards, and handling payroll.

Green Dot said last year that it would adopt a “Work from Anywhere” model in the United States and hire 400 people, most of whom would be in new markets and towns all over the country. Dan Henry, the president and CEO of Green Dot, says, “We are big believers in the benefits and potential of a best-in-class remote workforce, but we also know that there are benefits to hosting and managing certain teams and functions in person.”

Marqeta got a high ranking because it has a strong international presence and can easily bring on multi-national customers. Solaris’ success can be attributed in part to its many partnerships, as well as to how easy it is to integrate and get technical support.

“As digital banking gets better, fintechs are under pressure to improve their BaaS capabilities to meet or exceed user expectations,” says Dominique Tetnowski, the author of the study. “By offering a solutions portfolio in BaaS that has all the features needed to offer banking services, enterprises can focus on giving customers a better experience, which is important in a banking industry that is becoming more competitive.” Tech-Banking-as-a-service to rise 240% in 5 years

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: