Banking-as-a-Service holds promise as the biggest catalyst for the explosive growth in Embedded Finance. Over $1.5 billion of private funding has gone into BaaS since 2018, most of it just in the last two years. Banking partners are maturing in their governance, be it a back-end partner or a core BaaS provider. Any business, including those remotely connected to finance, can launch a card product or a stored-value wallet today. BaaS has strongly enabled better digital banking experiences to consumers worldwide through neobanks, reducing the dependence on central bank charters.

In this report, we combined our best-in-class industry research with insights, opinions, and viewpoints from industry experts to cover:

• Factors Driving Growth: Global regulatory and market forces, ecosystem partnerships, and how BaaS is positively impacting every sector and not just finance.
• Funding and Investor Activity: Detailed global sectoral funding analysis from 2018 to November 2020 by region and funding stage.
• Global Landscape: Dissected by region – specialized companies and banks for whom BaaS is their core business; prominent companies have been profiled.
• Expert Opinions and Industry Viewpoints: RBL Bank, Railsbank, Nium, Federal Bank, ICICI Bank, and Decentro.