Europe Banking-As-A-Service Market – Growth, Trends, COVID-19 Impact and Forecast (2022-2027)

Europe Banking-As-A-Service Market is segmented by Component (Platform and Service (Professional Service and Managed Service)), by Type (API based BaaS and Cloud-based BaaS), by Enterprise Size (Large enterprise and Small & Medium enterprise), by End-user (Banks, NBFC/Fintech Corporations and Others) and by Country (United Kingdom, Germany, Switzerland, France, Italy, Spain and Rest of Europe).

Market Snapshot

Europe BaaS Market
Study Period: 2018-2027
Base Year: 2021
CAGR: >7 %

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Market Overview

Banking-as-a-service in Europe is growing at a significant rate and is expected to grow 3 times in the next few years. The United Kingdom is the largest market for banking-as-a-service (BaaS) platforms due to the strong presence of banking-as-a-service (BaaS) platform providers and accounts for approximately 25% of Europe’s market share.

The changing landscape of the banking and financial services business has led end-users to adopt innovative digital banking solutions that offer ease and efficiency while lowering costs for banks and other service providers, resulting in market growth.

Due to Covid-19, Demand for BaaS platforms increased in medium and small-sized enterprises as there is a rise in an adaption of digital banking services across several domains in Europe. Integration of artificial intelligence, blockchain technology, and API services within internet banking lead to the growth of the market.

Treezor, a French Banking-as-a-Service (BaaS) and expert in embedded finance, continued to develop by obtaining an authorization extension from the French regulator (ACPR) to provide all payment services and became the first Payment and Electronic Money Institution to have every type of authorization in 2021.

Scope of the Report

Banking as a Service (BaaS) is a business model in which licensed banks incorporate their digital banking services directly into the products of non-bank enterprises. The European Banking-As-A-Service Market is segmented by component (platform and service (professional service and managed service)), by type (API-based BaaS and Cloud-based BaaS), by enterprise size (large enterprise and small and medium enterprise), by end-user (banks, NBFC/fintech corporations and others) and by country (United Kingdom, Germany, Switzerland, France, Italy, Spain, and Rest of Europe).

By Component
Professional Service
Managed Service
By Type
API Based BaaS
Cloud Based BaaS
By Enterprise
Large Enterprise
Small & Medium Enterprise
By End User
Fintech Corporations/NBFC
By Country
United Kingdom
Rest of Europe

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Key Market Trends

Increasing Demand for Embedded Finance Driving Banking as a Service.

Embedded finance revenue in Europe is about to reach USD 40,000 million in 2022, gaining demand among consumers due to the rising popularity of the buy now pay later lending model. the pandemic has also pushed the demand for embedded lending in crucial industry segments across European countries. Retailers in Europe are embracing new embedded finance offerings, with 56% of vendors launching new products in 2022.

In comparison to other European countries, embedded lending is most widespread in the United Kingdom. The United Kingdom was one of the first countries to use embedded lending to finance purchases. Retail finance is seen as a simple way for shoppers in the United Kingdom to spread the expense of large purchases.

Europe BaaS Market

The Rise in Adoption of Banking-as-a-Service Platform in Large Organizations Boosting the BaaS Market

The use of BaaS platforms in large organizations segment is more than in small and medium-sized enterprises. It accounts for more than 50% market share in Europe and is expected to continue its domination as it is increasing its customer base by investing in digital transformation to offer tech-savvy banking operations.

The demand for BaaS platforms in the large enterprises segment is anticipated to be driven by organizations’ growing inclination for reliable service platforms and automation capabilities.

Europe BaaS Market

Competitive Landscape

The report covers major players operating in the European banking-as-a-service market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and service innovation, mid-size to large-size companies are increasing their market presence by securing new contracts and tapping new markets. It has major players, including Solaris bank, Treezor, Bankable, and Clear Bank.

Recent Development

On May 05, 2022, Solaris bank announced that it would partner with Snowflake, the Data Cloud company, to double down on creating a cloud-fluent organization.

On July 22, 2021, Bankable partnered with Pay safe and launched a broad range of integrated, omnichannel banking services from Pay safe. Under this agreement, Paysafe uses Bankable’s core banking services.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Insights on Various Regulatory Landscape

    5. 4.5 Insights on impact of technology and innovation in the market

    6. 4.6 Industry Attractiveness - Porters' Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitutes

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Impact of COVID-19 on the Market


    1. 5.1 By Component

      1. 5.1.1 Platform

      2. 5.1.2 Service

        1. Professional Service

        2. Managed Service

    2. 5.2 By Type

      1. 5.2.1 API Based BaaS

      2. 5.2.2 Cloud Based BaaS

    3. 5.3 By Enterprise

      1. 5.3.1 Large Enterprise

      2. 5.3.2 Small & Medium Enterprise

    4. 5.4 By End User

      1. 5.4.1 Banks

      2. 5.4.2 Fintech Corporations/NBFC

      3. 5.4.3 Others

    5. 5.5 By Country

      1. 5.5.1 United Kingdom

      2. 5.5.2 Germany

      3. 5.5.3 Switzerland

      4. 5.5.4 France

      5. 5.5.5 Italy

      6. 5.5.6 Spain

      7. 5.5.7 Rest of Europe


    1. 6.1 Market Concetration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Solarisbank

      2. 6.2.2 Bankable

      3. 6.2.3 Treezor

      4. 6.2.4 11:FS Foundary

      5. 6.2.5 Clear Bank

      6. 6.2.6 Unnax

      7. 6.2.7 Cambr

      8. 6.2.8 Rails bank

      9. 6.2.9 Deposits Solutions

      10. 6.2.10 Fidor Bank

      11. 6.2.11 True Layer

      12. 6.2.12 FintechOS*

    3. *List Not Exhaustive


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Frequently Asked Questions

The Europe Banking-As-A-Service Market market is studied from 2018 - 2027.

The Europe Banking-As-A-Service Market is growing at a CAGR of >7% over the next 5 years.

Solarisbank, Bankable, Treezor, 11:FS Foundary, Clear Bank, Unnax are the major companies operating in Europe Banking-As-A-Service Market.

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