Argentina Banking-as-a-Service (BaaS) Market: Industry Forecast (2024-2030) by Type, Enterprise, Service and, Region

  • Argentina Banking-as-a-Service (BaaS) Market size was valued at US$ 18.35 Billion in 2023 and the total Argentina Banking-as-a-Service (BaaS) revenue is expected to grow at 8.7% through 2024 to 2030, reaching nearly US$ 32.92 Billion.

  • Format : PDF | Report ID : SMR_249

Argentina Banking-as-a-Service (BaaS) Market Overview:

Financial services are being transformed by digital innovation. Mobile payment, peer-to-peer or marketplace financing, insurance technology, and crypto-assets are examples of financial technology innovations that have evolved throughout the world. Fintech has already improved retail consumers' access to and convenience with financial services during the last decade. Meanwhile, AI systems, cloud computing, and distributed ledger technology are revolutionizing wholesale markets in a variety of sectors, including financial market trade and regulatory and supervisory technologies. A slew of new companies have cropped up to address customer demand with new technology, and the majority of incumbents say digital transformation is a policy objective.


The reclassification of financial services usage has also been aided by advances in information and communication. Consumers now have more data about various providers and a greater opportunity to connect with them, allowing them to select different providers for the various financial products they use. Likewise, vendors have more data on new or potential clients, which allows them to better sell to them and directly offer services. The data availability also makes it simpler for suppliers to underwrite a consumer without a prior connection, reducing a single provider's natural competitive advantage in selling new goods.


Argentina Banking-as-a-Service (BaaS) Market Dynamics:

The emergence of new players in the Argentinian Fintech industry is one of the major drivers of the Argentina BaaS market.


Argentina's growing fintech industry employs almost 15,000 people and has over 290 enterprises. According to data from the Argentine Chamber of Fintech, the sector is forecast to add more than 5,500 jobs this year, indicating the industry's huge growth and momentum.


According to statistics released by the organization in May 2021, 19.5% of all Argentine fintech businesses now in operation were created just last year, demonstrating the sector's rapid expansion amid the worldwide lockdown. Direct employment in the fintech sector rose at a steady 35.5% year-over-year rate between 2017 and 2020, a trend that is expected to continue in 2022.


Argentina Banking-as-a-Service (BaaS) Market


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Digital payments are expected to be the key factor contributing to the BaaS market growth in Argentina in the forecast period.


Despite a difficult economic environment caused by both Argentine macroeconomics and the COVID-19 outbreak, the domestic fintech ecosystem grew rapidly over the previous year, fueled mostly by the use of digital wallets and payment intermediaries during e-commerce growth.


According to a survey conducted by digital transformation consultant Minsait in 2021 on payment patterns, two-thirds of banking Argentines have increased their usage of digital wallets since the outbreak began. According to the Argentine Chamber of Fintech, mobility constraints, a boom in e-commerce activity, and the digital disbursement of government aid payments prompted 6.7 million Argentines to download one or more digital wallets. Mercado Pago, the digital payment platform of e-commerce giant Mercado Libre, came in first with 3.45 million downloads, followed by Cuenta DNI and Uala, all with around 1.95 million users, according to the group.


Argentina Banking-as-a-Service (BaaS) Market Segment Analysis:

By Service, the Fintech segment dominated the market in 2023. It is expected to be the fastest-growing segment in the Argentina BaaS market in the forecast period with a CAGR of 11.6%. Fintech startup culture in the country is one of the primary drivers behind the growth of this segment.


In the newest edition of the Fintech Radar Argentina, 105 Fintech firms were found across 11 Fintech segments, representing an 81%  increase in the number of Fintech startups compared to the previous edition, which identified 55 Fintech businesses. Taking into consideration the fact that 10 of the 55 firms are no longer operating, we can see that 40 new startups have been founded in the previous year and a half. Argentina is now the 4th most significant Fintech market in South America, overtaking Chile, which has 72 Fintech companies, and closing the gap with Colombia, the region's third-biggest Fintech market, with 134 startups, and behind Brazil i.e. 219 startups and Mexico 215 startups.


Argentina Banking-as-a-Service (BaaS) Market


However, it's worth noting that, except for Personal Financial Management, all Fintech segments in Argentina have seen significant growth, with none of them falling below 35%. As a result, we can see that the Fintech industry in the nation is expanding in a variety of ways across all segments, with a steady competitive environment among them all. When looking at the markets focused by Fintech startups in Argentina, the services aimed at the unbanked or underbanked market are the most common, reflecting how these startups are utilizing new advancements to enhance access to financial services for people who have previously been overlooked by the traditional model.


The purpose of this research is to provide stakeholders in the industry with a thorough insight into the Argentina Banking-as-a-Service (BaaS) Market. The study includes an analysis of difficult data in simple language, as well as the industry's historical and current state, as well as anticipated market size and trends. The market report examines all segments of the industry, with a focus on significant players such as market leaders, followers, and new entrants. The report includes a PORTER, PESTEL analysis as well as the possible influence of microeconomic market determinants. External and internal elements that are expected to have a favorable or negative impact on the firm have been examined, providing decision-makers with a clear future vision of the industry. The research also aids in comprehending the Argentina Banking-as-a-Service (BaaS) Market dynamics and structure by studying market segments and forecasting market size. The research is an investor's guide since it depicts the competitive analysis of major competitors in the Argentina Banking-as-a-Service (BaaS) Market by product, price, financial situation, product portfolio, growth plans, and geographical presence.


Breakthroughs in the Argentina BaaS industry are discussed, as well as organic and inorganic growth plans. Various companies are focusing on organic growth strategies such as new product releases, product approvals, and other items such as patents and events. Inorganic growth strategies used in the industry included acquisitions, partnerships, and collaborations.


Argentina Banking-as-a-Service (BaaS) Market Scope:

Argentina Banking-as-a-Service (BaaS) Market Scope

Market Size in 2023

USD 18.35 Bn.

Market Size in 2030

USD 32.92 Bn.

CAGR (2024-2030)


Historic Data


Base Year


Forecast Period


Segment Scope

By Type

  • API-based BaaS
  • Cloud-based BaaS

By Enterprise

  • SMEs
  • Large Enterprises


By Service

  • Banking IaaS
  • Banking as a Platform
  • FinTech SaaS
  • NBFCs


Argentina Banking-as-a-Service (BaaS) Market Players:

  • Afluenta
  • Increase
  • Moni
  • 123Seguro
  • Lemon Cash
  • Xcoop

Frequently Asked Questions

Argentina Banking-as-a-Service (BaaS) revenue is expected to grow at 8.7% through 2024 to 2030

Chapter 1 Scope of the Report
Chapter 2 Research Methodology

      2.1. Research Process
      2.2. Argentina Banking-as-a-Service (BaaS) Market: Target Audience
      2.3. Argentina Banking-as-a-Service (BaaS) Market: Primary Research (As per Client Requirement)
      2.4. Argentina Banking-as-a-Service (BaaS) Market: Secondary Research
Chapter 3 Executive Summary
Chapter 4 Competitive Landscape

      4.1. Market Share Analysis, By Value, 2023-2030
            4.1.1. Market Share Analysis, By Region, By Value, 2023-2030 (In %)
         Argentina Market Share Analysis, By Value, 2023-2030 (In %)
            4.1.2. Market Share Analysis, By Type, By Value, 2023-2030 (In %)
         Argentina Market Share Analysis, By Type, By Value, 2023-2030 (In %)
            4.1.3. Market Share Analysis, By Enterprise, By Value, 2023-2030 (In %)
         Argentina Market Share Analysis, By Enterprise, By Value, 2023-2030 (In %)
            4.1.4. Market Share Analysis, By Service, By Value, 2023-2030 (In %)
         Argentina Market Share Analysis, By Service, By Value, 2023-2030 (In %)
      4.2. Stellar Competition matrix
            4.2.1. Argentina Stellar Competition Matrix
      4.3. Key Players Benchmarking
            4.3.1. Key Players Benchmarking by Type, Pricing, Market Share, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
      4.4. Mergers and Acquisitions in Industry
            4.4.1. M&A by Region, Value and Strategic Intent
      4.5. Market Dynamics
            4.5.1. Market Drivers
            4.5.2. Market Restraints
            4.5.3. Market Opportunities
            4.5.4. Market Challenges
            4.5.5. PESTLE Analysis
            4.5.6. PORTERS Five Force Analysis
            4.5.7. Value Chain Analysis
Chapter 5 Argentina Banking-as-a-Service (BaaS) Market Segmentation: By Type
      5.1. Argentina Banking-as-a-Service (BaaS) Market, By Type, Overview/Analysis, 2023-2030
      5.2. Argentina Banking-as-a-Service (BaaS) Market, By Type, By Value, Market Share (%), 2023-2030 (USD Billion)
      5.3. Argentina Banking-as-a-Service (BaaS) Market, By Type, By Value,
            5.3.1. API-based BaaS
            5.3.2. Cloud-based BaaS
Chapter 6 Argentina Banking-as-a-Service (BaaS) Market Segmentation: By Enterprise
      6.1. Argentina Banking-as-a-Service (BaaS) Market, By Enterprise, Overview/Analysis, 2023-2030
      6.2. Argentina Banking-as-a-Service (BaaS) Market Size, By Enterprise, By Value, Market Share (%), 2023-2030 (USD Billion)
      6.3. Argentina Banking-as-a-Service (BaaS) Market, By Enterprise, By Value,
            6.3.1. SMEs
            6.3.2. Large Enterprises
Chapter 7 Argentina Banking-as-a-Service (BaaS) Market Segmentation: By Service
      7.1. Argentina Banking-as-a-Service (BaaS) Market, By Service, Overview/Analysis, 2023-2030
      7.2. Argentina Banking-as-a-Service (BaaS) Market Size, By Service, By Value, Market Share (%), 2023-2030 (USD Billion)
      7.3. Argentina Banking-as-a-Service (BaaS) Market, By Service, By Value,
            7.3.1. Banking IaaS
            7.3.2. Banking as a Platform
            7.3.3. FinTech SaaS
            7.3.4. NBFCs
Chapter 8 Argentina Banking-as-a-Service (BaaS) Market Segmentation: By Region
      8.1. Argentina Banking-as-a-Service (BaaS) Market Size, By Value, 2023-2030 (USD Billion)
            8.1.1. Argentina
Chapter 9 Company Profiles
      9.1. Key Players
            9.1.1. Afluenta
         Company Overview
         Product Portfolio
         Financial Overview
         Business Strategy
         Key Developments
            9.1.2. Increase
            9.1.3. Moni
            9.1.4. 123Seguro
            9.1.5. Lemon Cash
            9.1.6. Xcoop
      9.2. Key Findings
      9.3. Recommendations

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