Fintech-as-a-Service Platform Market Research Report 2022 – Global Forecast till 2031

The Fintech-as-a-Service Platform market estimated to grow by more than 10% CAGR from 2021-2031. Fintech-as-a-Service Platform is software which helps to improve and automate the customer experience with the help of financial services.

It helps to manage financial operations in easier way for business owners. It helps companies, business owners and consumers to manage their processes, financial operations, and lives in better way by utilizing specialized algorithms and software.

According to research, Fintech-as-a-Service Platform market is set to witness higher growth during 2021-2031. The market will show highest growth in coming years, owing to factors such as growing adoption of the AI technology, increasing adoption of the mobile payment technology, increasing focus on the big tech financial services. Moreover, concerns about security of consumer data is expected to restrain the demand for the Fintech-as-a-Service platform market.

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What is Driving Demand for Fintech-as-a-Service Platform Market?  

Increasing adoption of the mobile payment technology and increasing focus on the big tech financial services fuels the demand for the Fintech-as-a-Service platform market. Mobile payment technology is in trend adopted by current generation.

Mobile wallet that is digital wallet enables user to access account information, process payments, and pay for services using smartphone application. Large acceptance of digital wallet attributes to rising number of smartphone users in recent years. Thus adoption of the mobile payment technology ultimately fuels the demand for the Fintech-as-a-Service platform market.

The Factors such as Implementation of Blockchain Technology and Rising Focus of Companies on Cost Reduction and Efficiency is Expected to Drive the Adoption of Fintech-as-a-Service Platform Market 

Fintech enables companies to automate their process, cut down their cost, and reduce error probability. Companies can use Chabot as customer assistants which is used for the customer care executive, sales, and online chat executive with the help of AI. It also provides details about the income, cash flow, expense, and traction from the end user.

It helps companies in cost reduction and improves efficiencies. Also Fintech companies uses the blockchain technology to provide operational efficiency and better security. Blockchain technology authenticates the data and restricts the changes in older data blocks and enable users to continue adding new data blocks.

Who are the Major Vendors of Fintech-as-a-Service Platform Market?

Some of the leading vendors and companies of Fintech-as-a-Service Platform market include

• PayPal Holdings Inc.
• Ant Financial Services Group
• Tencent Holdings Ltd.
• Square Inc.
• Envestnet Inc.
• SoFi Inc.
• LendingClub Corporation
• Adyen N.V.
• Xero Limited
• Kabbage
• Shopify Inc. among others.

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