Fintech as a Service (FaaS) Market Trends

Fintech as a Service Market Trends

Startups and non-financial firms, such as e-commerce platforms & ride-sharing services, are gradually entering the financial services sector. These businesses frequently lack the expertise and infrastructure needed to create financial technology solutions. They can use FaaS to leverage a wide range of fintech capabilities, such as payment processing, lending, identity verification, and risk management, allowing them to focus on their core business while providing financial services to their customers. Furthermore, regulatory changes and open banking initiatives in several countries have encouraged collaborations between fintech firms & traditional financial institutions. FaaS facilitates this collaboration by providing a platform that enables seamless integration and data sharing while ensuring regulatory compliance.