Banking-as-a-service (BaaS), which allows non-banks and other fintechs to offer financial services to their customers, is slowly reshaping the Latin American financial services sector.
The BaaS market in the region is estimated to grow at a compound annual growth rate of 20.2% from 2022 to 2027, according to research company Technavio. And a report from Statista says that, in Latin America, there are roughly 2200 fintech companies that offer financial services, including payments and lending.
