NEW YORK, Sept. 28, 2023 /PRNewswire/ — The market size of banking as a service market in Latin America is estimated to grow by USD 2.43 billion from 2022 to 2027, growing at a CAGR of 14.27%. The banking as a service market in Latin America is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer banking as a service market in Latin America are Alau Technology SAU, 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., Rappi Inc., Revolut Ltd., Servicios Broxel SAPI de CV, UNIVERSO ONLINE SA, and Klar SA de CV. Technavio provides market analysis with a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
Company Offering:
- Alau Technology SAU – The company offers banking as a service through Uala App.
- BICECORP SA – The company offers banking as a service through its subsidiary Banco BICE.
- Cuenca Tecnologia Financiera SA de CV – The company offers banking as a service such as electronic payment funds accounts.
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- Impactful driver- Increasing adoption of BaaS solutions by end-users
- Key Trend – Increasing marketing initiatives
- Major Challenges – Implementation and data security
Market Segmentation
- By Component, the platform segment will grow at the highest rate during the forecast period. BaaP enables financial institutions to select platform options that meet their requirements while also having the flexibility to scale and adapt as requirements evolve. BaaP also enables data tracking across financial services, platforms, and products to assist financial organizations like banks in better understanding how their clients use their services. This gives institutions the knowledge they need to concentrate their resources on the services they need most. Such factors are expected to drive the growth of the platform segment in the BaaP market in Latin America during the forecast period.
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Related Reports:
The platform-as-a-service (PaaS) market size is estimated to grow at a CAGR of 26.42% between 2022 and 2027. The market size is forecast to increase by USD 80.82 billion.
The Car-as-a-Service (CaaS) Market size is estimated to grow by USD 306.31 billion between 2022 and 2027 accelerating at a CAGR of 18.09%.
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Banking As A Service Market In Latin America Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.27% |
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YoY growth 2022-2023 (%) |
13.45 |
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Regional analysis |
Latin America |
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Key countries |
Brazil, Mexico, Colombia, Argentina, and Rest of Latin America |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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SOURCE Technavio