The global Fintech as a Service (FaaS) market is experiencing significant growth, projected to increase from $387 billion in 2024 to $1.1 trillion by 2030, driven by a compound annual growth rate of 18.4%. This expansion is facilitated by technological advancements such as cloud computing, AI, machine learning, and blockchain, which enable businesses to seamlessly integrate digital financial solutions into their operations. The growth of FaaS is further supported by open banking regulations, pushing traditional financial institutions to innovate and remain competitive. Across various industries, including retail, healthcare, and logistics, FaaS is being adopted to streamline operations and improve customer experiences, highlighting its transformative impact on the digital payment landscape.
In other trading, Emirates Islamic Bank PJSC was a notable mover up 14.9% and finishing the session at AED9.51, a new 52-week high. At the same time, REC softened, down 5.2% to end trading at ₹405.50, not far from its 52-week low. On Friday, REC announced the promotion of Smt. Saraswathi as Executive Director following the retirement of Shri Ajay Mathur.
REC's strategic positioning and Maharatna status enable significant investments for revenue growth. Click through to explore the comprehensive narrative on REC's potential and challenges.
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Companies discussed in this article include DFM:EIB NasdaqGS:PYPL NYSE:NU NasdaqGS:SOFI and NSEI:RECLTD.
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