Banking-as-a-Service: Reconfiguring value chains in financial services

Banking is undergoing a structural shift. As services move beyond traditional channels, Banking-as-a-Service (BaaS) is emerging as a core enabler allowing financial institutions to embed offerings into broader digital ecosystems and redefine their role in the value chain.

This executive publication presents a strategic view of BaaS, based on interviews with senior leaders across Europe and Türkiye and insights from industry decision-makers. It offers a framework for navigating the complexities of ecosystem participation, capability design, and monetization.

Global BaaS revenues are projected to reach $30 billion by 2025 and triple by 2030. Yet technology alone is not the differentiator. Success will depend on how institutions align strategy, partnerships, and go-to-market models in a landscape shaped by micro-market relevance and embedded delivery.

Key themes include:

• Micro-market alignment as a competitive advantage
• Why infrastructure, APIs, and partnerships must be led by strategy—not the reverse
• The growing divergence between leaders and followers in ecosystem design
• Four strategic positions: bank, fintech, intermediary, and platform
• Eight practical takeaways for BaaS readiness and monetization

Access the Report

Download the full report to explore how financial institutions can lead this transformation through well-aligned strategies, technology enablement, and ecosystem thinking.