|
Home | Technology News Search Engine:
|
|
|
|
Home: Technology News:
|
|
|
(IT-NEWSWIRE.COM, June 26, 2023 ) The Fintech as a Service Market is expected to experience substantial growth, with projections indicating a rise from USD 310.5 billion in 2023 to USD 676.9 billion by 2028, exhibiting a compound annual growth rate of 16.9%, during the forecast period, according to a new report by MarketsandMarkets™. The growth of the FaaS market is driven by factors such as the emergence of cloud computing technology which will facilitate operational flexibility and scalability for businesses and increasing market demand for efficient compliance and regulatory solutions.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9388805
Based on the Fintech as a Service market, the Payment segment is expected to hold the largest market share during the forecasted period
Payments are essential to financial transactions, and virtually every business and individual requires payment capabilities. The payment segment encompasses various services, such as payment processing, digital wallets, peer-to-peer transfers, and mobile payments. The rapid growth of e-commerce, coupled with the increasing digitization of financial transactions, has fueled the demand for payment services. Businesses and consumers increasingly embrace online and mobile payments, driving the expansion of the payment segment within the FaaS market. Fintech companies have introduced innovative payment solutions that challenge traditional payment methods. These disruptive solutions offer improved user experiences, faster transactions, lower costs, and enhanced security. Payment services have a global market reach, as businesses and individuals worldwide engage in cross-border transactions. FaaS providers offering payment solutions can cater to customers globally, expanding their market size and revenue potential.
By Application, Compliance & Regulatory Support to hold a larger market size during the forecast period
Compliance and regulatory support are vital in mitigating risks associated with financial transactions and ensuring the security and integrity of customer data. FaaS providers offer compliance and regulatory support solutions to help financial institutions comply with these regulations more quickly and efficiently. These solutions can include software, services, and data that can help financial institutions to automate compliance processes, identify and mitigate risks, and track compliance status. The use of fintech as a service solution for compliance and regulatory support is growing rapidly as financial institutions are looking for ways to reduce the cost and complexity of compliance. This growth is expected to continue in the coming years as the regulatory environment becomes more complex and financial institutions seek to improve their compliance posture. These benefits create a massive demand for FaaS solutions in the market.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=9388805
By region, Asia Pacific is to grow at the highest CAGR during the forecast period
In recent years, Asia Pacific has undergone tremendous economic and political changes. Governments in the Asia Pacific are supportive of fintech innovation. This provides a favorable environment for the growth of fintech. Asia Pacific is home to the world's largest and fastest-growing population; hence, Mobile payments are becoming increasingly popular. The rising smartphone penetration and the growing demand for convenient and secure payment methods are driving the growth in this region. The region is experiencing rapid economic growth that increases disposable income and the need for financial services. The FaaS market in Asia Pacific is expected to grow significantly in the coming years. This growth will be driven by the rising demand for financial services, the increasing adoption of new technologies, and the supportive regulatory environment.
Top Key Companies in Fintech as a Service (FaaS) Market:
PayPal (US), Mastercard (US), Fiserv (US), Block (US), Rapyd (UK), Envestnet (US), Upstart (US), Solid Financial Technologies (US), FIS (US), Synctera (US), Stripe (US), Adyen (Netherlands), Dwolla (US), Finastra (UK), Revolut (UK), Fispan (Canada), NIUM (SG), Airwallex (AUS), SoFi (US), Marqeta (US), Finix (US), Synapse (US), are the key players and other players in the FaaS market.
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
|
|
|
|
|
Technology News Headlines
|
|
|
|
|
Technology Business Video Feed
|
|
More Technology Video Feeds
|
|
|
