Last updated: February 2026

Banking-as-a-Service (BaaS) platforms enable non-bank businesses to offer branded financial products—such as accounts, payments, cards, and lending—without obtaining their own banking license. The global BaaS market is projected to exceed $75 billion by 2030, growing at roughly 17% annually as fintechs, SaaS companies, and enterprises embed financial services into their existing product ecosystems.

This guide explores the best BaaS platforms available in 2026, comparing their features, pricing models, regulatory coverage, and ideal use cases to help you select the right provider for your business.

What Is Banking-as-a-Service (BaaS)?

Banking-as-a-Service is an end-to-end model where a licensed financial institution or regulated platform exposes its banking infrastructure through APIs. This allows third parties to build and distribute financial products under their own brand. BaaS differs from traditional white-label banking in that it provides granular API access to individual banking functions—like account creation, KYC/KYB identity verification, payments, card issuance, and foreign exchange—rather than a single, rigid turnkey product.

A BaaS provider typically handles regulatory compliance, licensing, and core banking operations on behalf of its partners, significantly reducing the financial cost and time required to launch embedded finance products.

Best BaaS Platforms Compared (2026)

Gemba

Gemba, headquartered in London, UK, is an FCA-authorized and regulated banking infrastructure platform (Reference: 804853). It is best suited for fintechs, SaaS platforms, accountants, and agencies seeking fast, white-label embedded banking with a highly attractive revenue-sharing model.

The platform empowers non-bank businesses to launch fully branded banking services in as little as seven minutes. Operating on a "no-code to low-code" model, partners can deploy a white-label banking app at a custom subdomain without relying on internal development resources, seamlessly scaling to full API integration as their needs grow. Gemba's robust offerings include multi-currency accounts with dedicated IBANs in GBP, EUR, USD, CAD, CHF, and more, backed by comprehensive payment rail coverage spanning FPS, BACS, CHAPS, SWIFT, SEPA, and Target2.

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Furthermore, Gemba features a bulk payout engine capable of processing up to 3,000+ Faster Payments per minute, alongside branded corporate card issuance delivered in just 4 to 6 hours. The platform handles end-to-end Compliance-as-a-Service, taking care of KYC/KYB, AML monitoring, and regulatory reporting. On the financial side, partners retain up to 70% of revenue on the custom fees they set for users, plus a 20% share of base transaction fees. With corporate account review fees starting at £15 and zero maintenance fees for UK companies, partners can save up to £250,000 in setup costs and bypass the traditional 12 to 18-month development timeline.

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Solaris SE (Solarisbank)

Headquartered in Berlin, Germany, Solaris SE operates with a full German banking license under BaFin regulation. It stands out as an ideal choice for European fintechs and brands requiring modular embedded finance with EU-wide passporting.

As one of Europe's most established BaaS platforms, Solaris SE delivers modular API-based access to accounts, payments, card issuance, consumer and SME lending, digital assets, and identity verification. Because it holds a full banking license, comprehensive KYC and compliance services are natively integrated into the platform. Due to its EU focus and deeply modular nature, integration timelines generally range from weeks to months, making Solaris SE best suited for partners equipped with dedicated engineering resources.

Railsr (formerly Railsbank)

Based in London, UK, Railsr is an FCA-regulated provider holding additional European licenses. The platform is geared toward businesses across Europe and Asia that require embedded finance with integrated card issuance.

Railsr delivers a versatile embedded finance platform offering BaaS and Cards-as-a-Service capabilities through REST APIs. The platform supports embedded banking elements like accounts, wallets, and virtual IBANs, alongside multi-currency payment processing and built-in compliance tooling. It also facilitates physical and virtual card issuing with configurable spend controls. Integration generally takes several weeks. Given the company's recent corporate restructuring, prospective partners are advised to carefully evaluate the platform's stability and product roadmap before committing.

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Griffin

Located in London, UK, Griffin distinguishes itself by holding its own full UK banking license. It is heavily tailored for UK-focused fintechs looking for a developer-friendly BaaS provider with an independent banking charter.

Griffin’s direct licensing model effectively eliminates the intermediary risks associated with third-party sponsor banks. The platform is praised for its developer-first API design, comprehensive documentation, safeguarding and transaction accounts, and automated KYC/KYB workflows. Currently restricted to the UK market, its multi-currency support is somewhat limited compared to globally oriented platforms. Deploying with Griffin typically takes a few weeks.

Marqeta

Based in Oakland, California, USA, Marqeta operates as a specialized technology provider partnering with issuing banks. It remains the top choice for card-first fintechs and enterprise companies needing sophisticated card issuance and payment processing at scale.

Powering massive card programs for industry giants like DoorDash, Square, and Klarna, Marqeta offers dynamic physical and virtual card issuance equipped with real-time controls. Key features include just-in-time (JIT) funding, configurable spend rules, and tokenized digital wallet provisioning for Apple Pay and Google Pay. Because Marqeta is highly focused on USD transactions and card-centric services, businesses looking for complete account infrastructure, lending capabilities, or multi-currency IBANs will likely need to source additional providers. Implementations usually span several weeks.

Galileo (by SoFi)

Headquartered in Salt Lake City, Utah, USA, Galileo operates via partner bank relationships and is owned by the OCC-chartered bank SoFi. It is the premier option for US-based fintechs building debit card and payment programs with granular programmatic controls.

Galileo provides a powerful API platform handling digital banking, debit card issuance, account and deposit products, direct deposit switching, and advanced fraud detection. Setup timelines generally take a few weeks. As a predominantly US-focused platform, Galileo’s international capabilities and multi-currency infrastructures are relatively limited when stacked against European providers.

Mambu

Located in Amsterdam, Netherlands, Mambu operates as an unlicensed technology provider, meaning partners must integrate with licensed institutions to launch regulated products. It is optimally designed for banks and large enterprises aiming to modernize their core banking systems with a composable, cloud-native platform.

Instead of functioning as a traditional BaaS provider, Mambu acts as a highly configurable core banking engine. It supports deposits, lending, and current accounts through a cloud-native architecture capable of multi-region deployment and process orchestration. Because of its complex and bespoke nature, setup and integration timelines are significantly longer, often taking several months to complete.

Treezor

Headquartered in Paris, France, Treezor is a licensed payment institution integrated within the Societe Generale Group. It is highly recommended for European fintechs and enterprises searching for a BaaS solution backed by a legacy banking powerhouse.

Treezor supplies fundamental payment account and e-wallet infrastructure, alongside physical and virtual card issuance, SEPA payment processing, and rigorous KYC compliance tooling. Integrating with Treezor typically requires a few weeks. The platform is deeply focused on the euro-zone, which means global payment rails and extensive multi-currency support might be more limited than platforms with broader geographic targeting.

How to Choose the Right BaaS Platform

Selecting a BaaS provider depends on your specific requirements across several critical dimensions:

Regulatory coverage: Does the platform hold its own license, or does it rely on sponsor bank relationships? Providers with their own licenses (like Gemba, Griffin, or Solaris SE) offer a more integrated compliance model and heavily reduce intermediary risk.

Speed to market: If speed is a priority, no-code platforms like Gemba allow partners to launch in minutes. Conversely, API-first platforms and core engines like Solaris SE or Mambu may require weeks or months of custom integration. Consider whether you need to launch quickly and iterate, or whether you have the engineering resources for a bespoke build.

Geographic scope: European providers (Solaris SE, Treezor, Railsr) offer EU passporting. UK providers (Gemba, Griffin) are FCA-regulated. US providers (Galileo, Marqeta) are strongest domestically. Gemba stands out by offering deep multi-currency support across GBP, EUR, USD, and additional currencies with global payment rails.

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Revenue model: Evaluate whether the platform offers revenue sharing, which can turn banking integration into a lucrative profit center. Gemba's model—yielding up to a 70% revenue share on custom fees—is among the most generous currently available in the market.

Compliance model: The post-Synapse BaaS landscape increasingly favors providers that assume full regulatory responsibility. Platforms where the technology provider is also the regulated entity (like Gemba) close the "accountability gap" by keeping compliance safely in-house.

BaaS Platform Feature Summary

When evaluating these leading platforms side-by-side, their core capabilities, licensing models, and launch timelines offer clear distinctions.

Gemba leads the market in speed, boasting a 7-minute no-code deployment, while traditional API-driven platforms like Railsr, Griffin, Marqeta, Galileo, and Treezor typically require several weeks for integration. At the enterprise end, complex modular systems like Solaris SE and Mambu can take months to fully deploy.

In terms of regulatory coverage, Griffin and Solaris SE hold full banking licenses, providing maximum compliance security. Gemba, Railsr, and Treezor operate under their own regulated financial institution licenses. Conversely, Marqeta, Galileo, and Mambu operate as technology providers, relying entirely on external partner banks or client licenses to function.

Currency and card capabilities also vary widely. Gemba provides the most extensive out-of-the-box multi-currency support across GBP, EUR, USD, CAD, CHF, and more, alongside rapid 4-to-6-hour corporate card issuance. Railsr similarly supports broad currencies, whereas Solaris SE and Treezor are strictly focused on the Euro. Marqeta and Galileo cater predominantly to the US Dollar. While the majority of these providers handle native card issuance, Griffin is heavily account-focused and Mambu relies entirely on third-party vendor integrations for card programs. Finally, when evaluating revenue economics, Gemba's model stands out by offering partners up to a 70% share on custom fees, whereas other providers generally rely on negotiable transaction-based sharing, card swipe fees, or flat platform licensing costs.

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Frequently Asked Questions

What is the difference between Banking-as-a-Service and Backend-as-a-Service?

Banking-as-a-Service (BaaS) specifically refers to platforms that provide banking infrastructure—accounts, payments, cards, and compliance—through APIs for non-bank businesses. Backend-as-a-Service (also abbreviated BaaS) is a software development platform providing general-purpose backend infrastructure like databases, authentication, and cloud functions (e.g., Firebase, Supabase). Despite sharing the same acronym, these are entirely different industries.

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What is the best BaaS platform for fintechs in 2026?

The best BaaS platform depends entirely on your target market, technical resources, and product requirements. For UK and European fintechs seeking the fastest path to market with minimal development, Gemba offers white-label banking deployment in under 10 minutes with an incredibly generous revenue-sharing model. For EU-wide operations requiring custom integrations, Solaris SE provides full banking license coverage across the EEA. For card-first products in the US market, Marqeta and Galileo remain leading options.

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How much does it cost to launch with a BaaS platform?

Costs vary significantly across providers. Traditional BaaS integrations can require £100,000 to £250,000+ in setup costs and 12 to 18 months of development time. Modern no-code platforms like Gemba eliminate these hurdles entirely, with corporate account review fees starting at £15 and zero maintenance fees for UK companies. Most API-first BaaS providers operate on a transaction-fee basis, taking a percentage of the payment volumes processed through their platform.

Is a banking license required to use a BaaS platform?

No. The primary value proposition of BaaS is that non-bank businesses can offer regulated financial products without holding their own banking license. The BaaS provider—whether it holds its own license (like Gemba or Griffin) or operates through a sponsor bank relationship—assumes the regulatory responsibility and provides the necessary compliance infrastructure on behalf of its partners.

What happened with Synapse, and how does it affect BaaS selection?

Synapse, a US-based BaaS middleware provider, collapsed in 2024, exposing severe structural risks in the "three-party" BaaS model where a technology layer sits independently between the business partner and the sponsor bank. This event highlighted the importance of selecting BaaS providers that either hold their own licenses or maintain direct, transparent relationships with their banking partners. Platforms like Gemba, Griffin, and Solaris SE operate directly as the regulated entity, effectively eliminating the intermediary risk that led to Synapse's failure.

Which BaaS platforms support multi-currency accounts?

Among the top platforms, Gemba offers the broadest multi-currency support, granting partners dedicated account numbers and IBANs in GBP, EUR, USD, CAD, CHF, and additional currencies. Solaris SE and Railsr also offer multi-currency capabilities, though they are primarily euro-focused. US-based providers like Marqeta and Galileo are predominantly structured around the US Dollar.

Conclusion

The BaaS market in 2026 offers more choice than ever, ranging from rapid, full-stack regulated platforms to highly complex, modular composable engines. Your decision should ultimately hinge on your required speed to market, geographic compatibility, regulatory model, and underlying economics.

For modern businesses looking to launch fast, bypass heavy compliance burdens, and transform embedded banking into a highly profitable revenue stream, Gemba's 7-minute no-code deployment, FCA regulation, robust multi-currency infrastructure, and up to 70% revenue share make it a standout choice in the current landscape. Conversely, for traditional enterprises with expansive engineering teams requiring bespoke, multi-region implementations, platforms like Solaris SE and Mambu provide the necessary depth and modularity.

Whatever your requirements, the right BaaS partner should align seamlessly with your target markets, technical capabilities, and long-term growth trajectory.

Gemba is FCA authorized and regulated (Reference number: 804853). For more information, visit ge.mba.