Embedded Banking Services Market

Embedded Banking Services Market - Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031

Embedded Banking Services Market Segmented By Embedded Banking Platform, Services solution in Small and Large and Medium Enterprise

Embedded Banking Services Market is growing at a CAGR of 25.5%

Embedded banking services market is expected to grow at a CAGR of 25.5% during the forecast period of 2021-2031. When financial services are embedded within non-traditional financial services areas, such as banking services, insurance services and payment services among others is called as embedded finance.

Currently, embedded financial services are at the next level of evolution, as they help the enterprises to deliver faster, better, and inexpensive financial products. Embedded banking services deals with the payments, to loans, to deposit accounts.

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What is Driving Demand for Embedded Banking Services?

Increasing the customer expectations for the need of better financial services is one of the key driver, primarily boosting the market growth. The pandemic has increased the expectations of the consumers to provide the better banking services. COVID-19 pandemic has generated significant instability and high volatility in global capital markets.

The financial sector has been one of the most affected, with bank valuations dropping across the globe. Thus, embedded banking services has helped most of the brands to reach the customer expectations by offering them a better financial services.

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Services segment is expected to hold the largest share of the Embedded banking services market by Solution

On the basis of solution, the market for embedded banking services is segmented into embedded banking platform and services. Further, the services is sub-segmented into payment services, lending services, and others. Out of which services is anticipated to hold the largest share of the global market.

The growth of the segment can be attributed to the increasing demand for the better banking services among the end-user. Also, there is rise in the demand for better deposit, savings, and purpose driven accounts among the customers.

Most of the brands also focus on creating the customized financial services and products for better user experience. Thus, services segment is expected to grow with the significant pace during the forecast timeframe.

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Europe Embedded Banking Services Demand Outlook

Europe is one of the largest markets for Embedded banking services across the globe. European banking industry is observing a major losses and fluctuations in revenue in the last few years. Increase in credit losses and lower interest rates has led to decline in profit margins is one of the major factor responsible for adopting the embedded systems to provide the better efficient banking services.

COVID-19 pandemic has further provoked the situation with the European Central Bank (ECB) and impacted the minimum regulatory capital levels of banks. Revenue slowdown has turned the banks focus on better risk management, cost efficiency, and effective digital platform for customers.

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North America Demand Outlook for Embedded Banking Services

North America followed by Europe has hold the considerable market share in 2020 and is further expected to grow with the same pace in upcoming years. The growth in the region is majorly attributed to the increasing technological adoptions and also the presence of major vendors in the region. Additionally, rising expenditure in the R&D for financial sector within the region is responsible for the market growth.

Moreover, North America happens to be the most rapidly changing and competitive market across the globe. In addition, the region is also projected to adopt new technologies at a faster pace in comparison to the other countries across the world.

Who are the Key Manufacturers and Suppliers of Embedded Banking Services?

Some of the leading manufacturers of embedded banking services market are

  • Bankable
  • Banxware
  • Bond
  • Cross River
  • Finix
  • Flywire
  • Marqeta
  • MX
  • OpenPayd
  • Plaid
  • Q2
  • Railsbank
  • Synapse
  • Tink
  • UNIPaaS Payments Technologies
  • Among others.

The key players operating in the market are focused on acquisitions, partnerships, and new product launches in order to strengthen their presence and enhance their product portfolio in the market. For instance, in October 2021, Ozone, leader of open API software announced the partnership with StormPay, a fintech company offering the embedded financial services.

The collaboration will offer a truly embedded and digital experience to StormPay’s customers.

Also, in July 2021, Barclays US Consumer Bank recently announced a partnership with Amount, a leading technology provider for financial institutions, to offer a better financing suite.

Key Segments

By Solution

  • Embedded Banking Platform
    • Cloud Based
    • On-Premises
  • Services
    • Payment services
    • Lending services
    • Others

By Enterprise Size

  • Small Enterprise
  • Large and Medium Enterprise

By End-User

  • Bankers
  • Non-bankers

By Region

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
    • Russia
    • Rest of Europe
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia & Pacific
    • India
    • Malaysia
    • Indonesia
    • Singapore
    • Australia & New Zealand
    • Rest of South Asia & Pacific
  • Middle East & Africa
    • GCC Countries
    • Turkey
    • South Africa
    • North Africa
    • Rest of Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Embedded Banking Services Market Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.

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