Latin America - Banking-as-a-Service (BaaS) Market to witness humongous revenue growth of USD 2430.08 Mn through 2023-2027
Latin America - Banking-as-a-Service (BaaS) Market is estimated to grow at a CAGR of 14.27% between 2022 and 2027 followed by a revenue growth of USD 2,430.08 Mn.
The increasing adoption of BaaS solutions by end-users, the increasing number of fintech in the region, and the increasing efficiency of financial services are some of the major determinants of Latin America - Banking-as-a-Service (BaaS) Market advancement during the forecast period. The market can be segmented by component (platform and services), type (cloud-based and API-based), and end-user (large enterprise, small, and medium enterprise).
Latin America - Banking-as-a-Service (BaaS) Market Analysis at a Glance
Navigating through the market growth drivers: The rising adoption of BaaS solutions by end-users is propelling the market advancement during the forecast period as there exists comprehensive benefits of implementing BaaS solutions, it will increase the demand from financial institutions. Moreover, the use of BaaS solutions in NBFCs has also increased significantly as they facilitate competition in financial services by allowing non-bank players to offer services which in turn drive the growth of the Latin America - banking-as-a-service market
Quick info: BaaS provides a wide range of banking services to financial institutions operating in the lending, accounting, and corporate finance sectors, giving businesses the opportunity to benefit from better services.
Core Companies Analysis: When it comes to the core companies in the market landscape, some of the prominent names worth mentioning are Banco Inter S.A., Banco Sabadell SA, BICECORP SA, Credijusto, Creditas, Cuenca Tecnologia Financiera SA de CV, DOCK, EBANX, GIRE SA, Inteligencia en Finanzas S.A.P.I. de C.V., Maximo Pay SAC, MEXARREND S.A.P.I. DE C.V., Neon Pagamentos S.A., Nu Holdings Ltd., Revolut Ltd., Servicios Broxel SAPI de CV, etc. which come with a broad spectrum of offerings for the Latin American customers. Our report includes the categorization of the core companies as pure play, category-focused, industry-focused, and diversified.
Technavio has been monitoring the growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Request for a sample report today on Latin America - Banking-as-a-Service (BaaS) Market.
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