The Fintech as a Service (FaaS) market size is estimated to grow from USD 358.8 billion in 2024 to USD 806.9 billion by 2029, according to a new report by MarketsandMarkets.

It says that the key driver of FaaS is the growing demand for rising digital financial services, open banking operational initiatives, growing demand for streamlined compliances and regulatory solutions, scalability of cloud computing technologies in operations, and driving innovation of AI and blockchain.

According to MarketsandMarkets, top companies in FaaS market are PayPal (US), Mastercard (US), Fiserv (US), Block (US), Rapyd (UK), Envestnet (US), Upstart (US), Solid Financial (US), FIS (US), Synctera (US), Stripe (US) , Adyen (Netherlands), Dwolla (US), Finastra (UK), Revolut (UK), Fispan (Canada), Nium (Singapore), Airwallex (Australia), Sofi Technologies Inc. (US), Margeta (US), Finx (US), Synapse (US).

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