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Fintech-as-a-Service Platform Market Segmentation by Service (Payments, Fund Transfer, Wealth Management, Personal Loans and P2P Lending, Insurance, Personal Finance, and Others); and by Application (Retail Banking, Investment Banking, Hedge Funds, Stock Trading Firms, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • August 2021- Rapyd, a company providing a range of financial services, raised USD 300 million on USD 8.75 billion valuation to improve its portfolio in fintech-as-a-service.

  • December 2020- Synctera announced that it is bringing fintech-as-a-service to community banks to help them streamline back-end operations and leverage their current capabilities.

Global Fintech-as-a-Service Platform Market Highlights Over 2022 - 2031

The global fintech-as-a-service platform market is estimated to garner a sizeable revenue by growing at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can largely be attributed to the growing investments by banks in advanced technologies to improve their offerings and customer experience. Along with this, rising adoption of smartphones for money transactions, and increasing demand for hassle-free and seamless access to loan services and products are also expected to drive market growth in the forthcoming years. As of 2022, the total number of smartphone users in the world was calculated at more than 6 billion. Also, the total number of smart and feature phone users globally are about 7 billion. Furthermore, fintech-as-a-service offers several benefits, such as low maintenance fees, low-cost processing fees, fraud and chargeback prevention, and enhanced customization, which is projected to offer ample growth opportunities to the market in the near future.

Fintech-as-a-Service Platform Market

The market is segmented by service into payments, fund transfer, wealth management, personal loans and P2P lending, insurance, personal finance, and others, out of which, the service into payments segment is anticipated to hold the largest share in the global fintech-as-a-service platform market. This can be accounted to the increasing number of mobile payments across the globe, which is evaluated to raise the usage of payment apps and gateways. Additionally, on the basis of application, the retail banking segment is predicted to grab the largest share during the forecast period, which can be credited to the rising necessity of digital banking among consumers. Apart from this, rapidly growing e-commerce industry worldwide is also assessed to boost the growth of the market segment in the future. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure (% of GDP), 2015-2018

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Fintech-as-a-Service Platform Market Regional Synopsis

Regionally, the global fintech-as-a-service platform market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the generation of large amount of data, and growing technological developments in the finance sector in the region. In 2021, the consumer internet traffic in the Asia Pacific was more than 95 exabytes per month, up from 70 exabytes per month in 2020 and 72 exabytes per month in 2019 respectively. Moreover, the market in North America is expected to acquire the largest share during the forecast period ascribing to the rising adoption of smartphones, and growing adoption of smartphones in the region. In addition, strong footprint of market players is also projected to fuel the market growth in the region in the coming years.

Fintech-as-a-Service Platform Market Share

The global fintech-as-a-service platform market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global fintech-as-a-service platform market includes the following segments:

By Service

  • Payments
  • Fund Transfer
  • Wealth Management
  • Personal Loans and P2P Lending
  • Insurance
  • Personal Finance
  • Others

By Application

  • Retail Banking
  • Investment Banking
  • Hedge Funds
  • Stock Trading Firms
  • Others

Growth Drivers

  • Growing Investments by Banks in Advanced Technologies
  • Rising Adoption of Smartphones for Money Transactions

Challenges

  • Lack of Awareness about the Platform in Lower Economic Regions

Top Featured Companies Dominating the Market

  • Synctera Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Fafnir LLC
  • Rapyd Financial Network (2016) Ltd.
  • NEO TECHNOLOGIES
  • FISPAN
  • Payward, Inc.
  • Monzo Bank Ltd
  • Robinhood Markets, Inc.
  • Stripe, Inc.
  • Klarna Bank AB

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