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Banking-as-a-Platform Market 2023-2028: Strategy & Trends

Publisher Juniper Research
Published Aug 07, 2023
Length 47 Pages
SKU # JNRH19878144

Description

Our Banking-as-a-Platform (BaaP) research suite provides in-depth analysis and evaluation of how financial institutions are reimagining their business operating model by creating a BaaP ecosystem alongside third-party providers.

The suite includes both a data deliverable, sizing the market and providing key forecast data across 60 countries and several different segments, as well as a Strategy and Trends document which gives a complete assessment of the key trends, challenges and key recommendations for stakeholders. Collectively, they provide a critical tool for understanding this rapidly emerging market, allowing banks and technology vendors to shape their future strategy.

This research suite can be purchased as part of a wider subscription package, that includes significant discounts and access to our team of analyst experts. Contact us for further details.

Market Dynamics: Insights into key trends and market expansion challenges within the development of the Banking-as-a-Platform model; how third-party partnerships that offer services such as payments and embedded insurance are being offered to BaaP solutions that help banks provide a personalised financial services tailored to each customer. Insights on the different offerings provided by banking platforms and how these are deployed.
Key Takeaways & Strategic Recommendations: Key opportunities for those found in digital banking market landscape; making for an important read for key stakeholders.
Segment Analysis: The study also contains a segment analysis which identifies the current status and influence of various verticals within the BaaP market, such as SMEs, large enterprises, traditional banks, neobanks and consumers.
Benchmark Industry Forecasts: 5-year forecasts for the total revenue of BaaP, revenue for current account services and business account services. These are segmented across 10 different segments such as payments, embedded insurance, loyalty schemes, accounting services, pensions and more.

Please note: the online download version of this report is for a global site license.

Table of Contents

47 Pages
Banking-as-a-Platform – Key Takeaways & Strategic Recommendations
1.1 Key Takeaways
1.1.1 Marketplaces are the Future for Online Digital Banking Platforms
1.1.2 For the Consumer Account Market, Mortgages and Loyalty & Rewards Services Will See the Largest Growth
1.1.3 For Business Account BaaP Offerings, Pensions Will See the Largest Growth
1.2 Strategic Recommendations
1.2.1 Consumer Platforms Should Expand on Lifestyle Offerings
1.2.2 Business Platforms Should Tailor Their Offerings to Self-employed Customers and Smaller Businesses
1.2.3 Banks and Fintech Should Fortify Themselves Against Third-party Risk as APIs Proliferate
2. Banking-as-a-Platform – Market Landscape
2.1 Introduction
2.1.1 Definitions & Scope
2.1.2 Functionalities of BaaP
2.2 APIs (Application Programming Interfaces)
Figure 2.2: How APIs Work
i. OpenAPI Specification
2.3 Current Market Landscape
2.3.1 BaaP Versus BaaS
Figure 2.3: BaaP vs BaaS
2.3.2 The Shift to Open Banking
2.3.3 Open Banking Regulations
i. The European Union & UK
ii. US
iii. China
iv. Africa & the Middle East
v. South East Asia and Indian Subcontinent
2.3.4 What Makes BaaP Successful
i. Partnerships
ii. Performance
iii. Transparency
iv. Longevity
2.3.5 BaaP Third-party Offerings
Figure 2.4: Banking-as-a-Platform Key Third-party Offerings
i. Payments
ii. Wealth Management & Trading
iii. Embedded Insurance
iv. Lifestyle
v. Crypto
vi. Foreign Exchange
vii. Beyond Core Banking
2.3.6 BaaP Challenges
i. Third-party Risk
ii. Regulatory Compliance
iii. Core and Ancillary System Integration
iv. Lack of API Experience
2.4 Current Trends
2.4.1 Marketplaces
2.4.2 Personalisation and Customer Experience
2.4.3 Decrease in White-labelling and Outsourcing
2.4.4 Blockchain and DLT (Distributed Ledger Technology)
2.5 Future Outlook
2.5.1 Embracing Open Banking
2.5.2 The Evolving Open Banking Regulatory Framework
2.5.3 Focus on Smaller Businesses and Creating a BaaP Ecosystem
2.5.4 Expansive Opportunities for Partnerships and Monetisation
3. Banking-as-a-Platform – Segment Analysis
3.1 Segment Analysis
3.1.1 Third Parties
i. SMEs
ii. Large Enterprises
3.1.2 Banks
i. Traditional Banks
ii. Neobanks
3.1.3 Consumers
4. Banking-as-a-Platform – Case Studies
4.1.1 Starling’s Personal Finance Marketplace
Figure 4.1: Starling Personal Finance Marketplace, Partnerships Split into Sector Categories
4.1.2 Starling’s Business Marketplace
Figure 4.2: Starling Business Marketplace, Partnerships Split into Sector Categories
5. Banking-as-a-Platform – Market Forecasts
5.1 Introduction
5.2 Methodology & Assumptions
Figure 5.1: BaaP Forecast Methodology, Current Accounts – Savings & Wealth Management
Figure 5.2: BaaP Forecast Methodology, Current Accounts – Insurance Services
Figure 5.3: BaaP Forecast Methodology: Current Accounts – Pension Services
Figure 5.4: BaaP Forecast Methodology: Current Accounts – Mortgage Services
Figure 5.5: BaaP Forecast Methodology: Current Accounts – Loyalty & Reward Schemes
Figure 5.6: BaaP Forecast Methodology: Business Accounts – Payments
Figure 5.7: BaaP Forecast Methodology: Business Accounts – Pension Services .
Figure 5.8: BaaP Forecast Methodology: Business Accounts – Insurance Services
Figure 5.9: BaaP Forecast Methodology: Business Accounts – Accounting Services
Figure 5.10: BaaP Forecast Methodology: Business Accounts – HR & Legal Services
5.3 BaaP Forecasts
5.3.1 Total BaaP Business Account Transaction Volume
Figure & Table 5.11: Total Value of Business Account BaaP Transactions (m), Split by 8 Key Regions, 2023-2028
5.3.2 Total BaaP Business Account Revenue
Figure & Table 5.12: Total BaaP Business Account Revenue ($m), Split by 8 Key Regions, 2023-2028
Table 5.13: Total BaaP Business Account Revenue ($m), Split by Service, 2023-2028
5.3.3 Total BaaP Current Account Revenue
Figure & Table 5.13: Total BaaP Current Account Revenue ($m), Split by 8 Key Regions, 2023-2028
Table 5.14: Total BaaP Current Account Revenue ($m), Split by Service, 2023-2028

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