Banking-as-a-service platform revenue to reach $94 billion globally by 2028. The growth primarily comes from API deployment across eCommerce.
April 22, 2024
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A new study from Juniper Research forecasts that global BaaS (Banking-as-a-Service) platform revenue generated from account/card issuing and transaction fees will grow by 158% to 2028; up from $36.4 billion this year. This expansion primarily comes from API deployment across eCommerce and freelance platforms, by connecting consumers to innovative financial tools, and so unlocking additional revenue streams for BaaS providers.
The BaaS business model involves the delivery of digital banking services by licenced banks. Through the APIs (Application Programming Interface), these integrate directly into the products of non-banking businesses.
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