(MENAFN- America News Hour) Research Nester published a report titled
“Fintech-as-a-Service platform Market: Global Demand Analysis & Opportunity Outlook 2031”
which delivers a detailed overview of the global fintech-as-a-service platform market in terms of market segmentation by service, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global fintech-as-a-service platform market is estimated to occupy a sizeable revenue by growing at a significant CAGR during the forecast period, i.e., 2022 – 2031, ascribing to the rising investments by banks across the globe in advanced technologies to improve their offerings and customer experience. Along with these, increasing adoption of smartphones for money transactions, and upsurge in demand for hassle-free and seamless access to loan services and products are also expected to drive the growth of the market in the forthcoming years.
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The market is segmented by service and application. Based on service, the service into payments segment is anticipated to witness the highest growth during the forecast period in view of the escalating number of mobile payments worldwide, which is predicted to raise the usage of payment apps and gateways. Additionally, by application, the retail banking segment is projected to grab the largest share over the forecast period attributing to the growing necessity of digital banking among consumers, and rapid expansion of e-commerce industry in the world.
Geographically, the global fintech-as-a-service platform market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to gather the largest share in the market during the forecast period attributing to the increasing adoption of smartphones, and strong presence of major market players in the region. Moreover, the market in Asia Pacific is assessed to witness noteworthy growth over the forecast period on the back of the rising technological advancements in the finance sector, and generation of large amount of data in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Rising Investments by Banks Worldwide in Advanced Technologies to Drive Market Growth
Over the last few years, banks all around the world are increasing their investments in advanced technologies for improving their product portfolio and fulfil the changing consumer expectations. This is giving rise to the increase in demand for fintech-as-a-service platform as it allows for the integration of both physical and digital payment methods into a unified user experience, which in turn is assessed to drive market growth in the near future.
However, less awareness about the platform in lower economic regions is expected to operate as key restraint to the growth of the global fintech-as-a-service platform market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global fintech-as-a-service platform market which includes company profiling of Synctera Inc., Fafnir LLC, Rapyd Financial Network (2016) Ltd., NEO TECHNOLOGIES, FISPAN, Payward, Inc., Monzo Bank Ltd, Robinhood Markets, Inc., Stripe, Inc., Klarna Bank AB, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fintech-as-a-service platform market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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