11 Apr 2023 | Financial Services | infographics
Banking as a Service (BaaS): A Disruptor or Disaster?
The global Banking-as-a-Service (BaaS) market is on track to reach a staggering $80 billion in gross value by 2030 at an estimated CAGR of 18%, driven by the rise of embedded finance and new-gen online banking products. Growing momentum of banking charters awarded to fintech innovators and the digital payments' market penetration has enabled disruptive entities to play catch up with legacy players, and now incumbents worry losing ground. Hence, the wave of collaboration, instead of competition, is being orchestrated to shape the sector's future.
At the same time, this rapid growth in fintech partnerships with banks is being heavily scrutinized by regulators where balancing innovation with compliance is becoming crucial for sustainable success.
Read on as Jasper Colin's proprietary Market Watchdog Screens and Sector Spark reveal key insider takes on the BaaS imperative in banking.