Market Size of Europe Banking-As-A-Service Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Banking as a Service (BaaS) Market Analysis
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.
