Banking Tech Banking-as-a-Service Platforms sector
Strategic acquirers, private equity (buyout funds and growth funds) firms, and valuation benchmarks for Banking Tech Banking-as-a-Service Platforms
1.1 - About Banking Tech Banking-as-a-Service Platforms sector
Companies in the Banking Tech Banking-as-a-Service Platforms category provide API-based infrastructure that allows fintechs and non‑bank brands to embed compliant banking functions without operating a bank charter. They deliver account issuance, payments, card programs, and identity verification as managed services with sponsor‑bank access, developer tooling, and program oversight, enabling faster product launches, lower regulatory overhead, and scalable operations for embedded finance offerings.
Offerings typically include real‑time core ledger services, demand deposit account creation, ACH, wire, and RTP rails, card issuing with BIN sponsorship, and configurable onboarding with identity verification, fraud screening, and AML monitoring. Vendors add compliance orchestration, transaction monitoring, regulatory reporting, program management, and dispute handling, alongside developer SDKs, sandbox environments, and webhook eventing to integrate embedded banking into mobile apps, marketplaces, and SaaS workflows.
Primary customers include fintech startups and neobanks, enterprise and consumer brands pursuing embedded finance, and regional banks adopting BaaS to power partner programs. Outcomes center on accelerated go‑to‑market, reduced compliance burden through sponsor‑bank oversight, new revenue streams from accounts, payments, and cards, improved risk control via continuous monitoring, and lower total cost of ownership compared with building proprietary banking stacks.
2. Buyers in the Banking Tech Banking-as-a-Service Platforms sector
2.1 Top strategic acquirers of Banking Tech Banking-as-a-Service Platforms companies
Zeta
HQ: United States
Website
- Description: Provider of cloud-native, API-driven banking and payment technology that lets financial institutions rapidly launch compliant credit card, loan and deposit products. Its next-gen issuer-processing platform and core banking stack cover card issuing, lending, transaction processing, fraud, loyalty and digital banking, helping banks and credit unions modernize and scale globally.
- Key Products:
- Next-Gen Issuer Processing Platform: Cloud-native system ranked #2 by American cardholders that issues and processes credit cards, offering configurable rewards, compliance and rapid product launches for banks
- Core Banking Stack: API-enabled platform supporting loans, deposits and transaction processing, giving banks composable modules for scalable, compliant asset-liability management
- Digital Banking Applications Suite: Integrated fraud management, loyalty and consumer banking apps delivering secure, modern user experiences and faster go-to-market for financial institutions
- Customer Service Navigator (CSN): Unified observability platform using open-source tools and Amazon OpenSearch to analyze 3 TB+ daily telemetry, cutting incident response times by 80 % and enabling multi-tenant regulatory compliance.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
🔒
🔒
🔒
View all strategic buyers with complete profiles
Start Free Trial →
2.2 - Strategic buyer groups for Banking Tech Banking-as-a-Service Platforms sector
M&A buyer group 1: Embedded Finance
72 companies
View group →
Description: Companies in this category build API-first infrastructure that lets software platforms embed bank accounts, payments, lending, and compliance directly into user experiences. By abstracting complex rails and regulatory workflows, they enable faster onboarding, lower abandonment, and monetizable financial features. FinTech Embedded Finance Platforms serve as the connective tissue between apps and financial institutions, reducing integration time and de-risking scale.
Fiserv
- Type: N/A
- Employees: ●●●●●
- Description: Provider of technology solutions that deliver innovative and transformative financial-services experiences worldwide, with specialties spanning payments, mobile and online banking, core banking, risk and compliance, customer and channel management, business insights and optimization, processing services, and lending solutions for clients in more than 100 countries.
- Key Products:
- Payment & Mobile Banking Systems: Platform enabling real-time electronic payments and mobile banking access, allowing financial institutions to deliver secure transaction processing and account management across devices
- Account Processing & Digital Banking Solutions: Core software that manages the full account lifecycle, supporting deposits, lending, card operations and omnichannel digital self-service for banks and credit unions
- Merchant Acquiring & Processing Platforms: End-to-end services that onboard merchants, handle POS transactions, online loyalty payments and settlement through integrated network services for rapid, secure payment acceptance
- Security & Fraud Protection Products: Suite of tools that monitor transaction data, detect fraudulent activities and enforce security controls to reduce payment risk for card issuers and financial institutions.
🔒
🔒
🔒
View all 72 companies in this group
Request Free Trial Now →
🔒
Buyer group 2: ████████ ████████
●● companies
Description: ████████ ████████ ████████ ████████ ████████ ████████ ████████ ████████ ████████ ████████
Key Products: ████████, ████████, ████████, ████████
🔒
View all companies in this group
Request Free Trial Now →
🔒
Buyer group 3: ████████ ████████
●● companies
Description: ████████ ████████ ████████ ████████ ████████ ████████ ████████ ████████ ████████ ████████
Key Products: ████████, ████████, ████████, ████████
🔒
View all companies in this group
Request Free Trial Now →
🔓 Unlock all detailed buyer group breakdowns with complete company profiles
Start Free Trial →
3. Investors and private equity firms in Banking Tech Banking-as-a-Service Platforms sector
3.1 - Buyout funds in the Banking Tech Banking-as-a-Service Platforms sector
2.2 - Strategic buyer groups for Banking Tech Banking-as-a-Service Platforms sector
🔒
View all growth equity funds with complete profiles
Start Free Trial →
4 - Top valuation comps for Banking Tech Banking-as-a-Service Platforms companies
4.2 - Public trading comparable groups for Banking Tech Banking-as-a-Service Platforms sector
Valuation benchmark group 1: Banking and Capital Markets Software Providers
11 companies
View group →
Description: Companies in this public trading comparables group provide mission‑critical software and platforms to banks, credit unions, and capital markets institutions. They enable digital banking, payments, lending, treasury, trading, and risk workflows, monetizing through SaaS subscriptions, transaction processing fees, and software licenses plus services. They are grouped as valuation benchmarks due to shared institutional end markets, regulated operating environments, high switching costs, and recurring, transaction‑linked revenue models that drive comparable growth and margin profiles.
Fiserv
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of payments and financial services technology solutions, including account processing and digital banking, card issuer processing, network services, e-commerce, merchant acquiring and processing, along with cloud-based point-of-sale solutions and business management platforms.
- Key Products:
- Card Issuer Processing: Services including debit, credit, and prepaid card processing with security and fraud protection
- Clover: Cloud-based point-of-sale solution and business management platform
- Digital Banking Solutions: Platforms for integrated digital banking
- Payments and Network Services: Solutions encompassing bill payment, account-to-account transfers, and person-to-person payments
- Merchant Acquiring: Point-of-sale merchant acquiring and digital commerce services for businesses.
🔒
🔒
🔒
View all 11 companies in this group
Request Free Trial Now →
🔒
Revenue growth
Median
15.7%
2025E
16.0%
2026E
EBITDA margin
Median
28.2%
2025E
28.6%
2026E
Cash EBITDA margin
Median
27.6%
2025E
28.0%
2026E
EV/Revenue
Median
8.4x
2025E
6.8x
2026E
EV/EBITDA
Median
28.9x
2025E
24.4x
2026E
EV/Cash EBITDA
Median
29.0x
2025E
25.5x
2026E
🔓 Unlock all public trading comparable groups with complete valuation data
Start Free Trial →