Report Overview

Juniper Research’s new Open Banking research report provides insightful analysis of the evolution of open banking, use cases driving growth, their future prospects, and barriers to future growth.

It provides a comprehensive study of the new developments and key trends driving this highly important market for both users and banks.

The report also positions 16 vendors in our Juniper Research Competitor Leaderboard; providing an invaluable resource for stakeholders seeking to understand the competitive landscape in the market.

The report also presents comprehensive market forecasts; delivering extensive insights and overall market sizing for both information and payments.

This research suite comprises:

  • Strategy & Forecasts (PDF)
  • 5-year Market Sizing & Forecast Spreadsheet (Excel)
  • 12 months' access to harvest Online Data Platform
Key Market Statistics
Market Size in 2021: $4bn
Market Size in 2026: $116bn
2021 to 2026 Market Growth: 2,800%

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Key Features

  • Market Dynamics: Provides a detailed assessment of how the Open Banking market is evolving, what the leading use cases are, and the barriers to future growth.
  • Future Outlook & Regional Analysis: Future outlook and comprehensive analysis of the key countries and regions deploying Open Banking, including the level of regulator support, encapsulated with our future outlook for deployment.
  • Juniper Research Competitor Leaderboard:  Key player capability and capacity assessment for 16 vendors:
    • Avaloq
    • Bud Financial
    • Fabrick
    • Mastercard
    • MX
    • Ndgit
    • Nordigen
    • OpenPayd
    • Plaid
    • Saltedge
    • TESOBE
    • Tink
    • Truelayer
    • Trustly
    • Yapily
    • Yolt Technology Services
  • Benchmark Industry Forecasts: Forecasts for Open Banking users, API information calls, payment users, transaction volume and value, as well as splits by our 8 key regions and the 25 countries listed below:
    • Argentina
    • Australia
    • Brazil
    • Canada
    • China
    • Colombia
    • Denmark
    • France
    • Germany
    • India
    • Italy
    • Japan
    • Mexico
    • Netherlands
    • Norway
    • Poland
    • Portugal
    • Saudi Arabia
    • Singapore
    • South Africa
    • South Korea
    • Spain
    • Sweden
    • UK
    • US

Key Questions Answered

  1. What are the regional differences in how Open Banking is rolling out across the world?
  2. What are the key trends influencing the evolution of the market?
  3. What impact will fraud have on the Open Banking landscape?
  4. Who are the leading players in 2021?
  5. What will be the market size in 2026?

Companies Referenced

Case Studied: Citibank.
Included in the Juniper Research Leaderboard: Avaloq, Bud Financial, Fabrick, Mastercard, MX, ndgit, Nordigen, OpenPayd, Plaid, Salt Edge, TESOBE, Tink, Truelayer, Trustly, Yapily, Yolt
Mentioned: 9Yards Capital, Aberdeen Standard Investments, ABN AMRO Ventures, ABS (Association of Banks in Singapore), ACCC (Australian Competition and Consumer Commission), Acorns, Addition, Adyen, Affinity, Agricultural Bank of China, Aiia, Alibaba, AliPay, AltaBank, Altimeter Capital, Amazon, American Express, Andreessen Horowitz, Anna, Ant Financial, Anthemis Group, ANZ, Australia and New Zealand Group Banking, Australian Payments Network, Avanza, Azimo, Banco BNI Europa, Bank of America, Bank of Melbourne, Bankart, Bankwest, Barclays, BBVA, BCB (Banco Central do Brasil) , Betterment, BIND (Banco Industrial), Black Pearls VC, BlackRock Private Equity Partners, Blend, BNP Paribas, Boom Pay, BRSA (Banking Regulation and Supervision Agency), BUX, Cambr, Canadian Department of Finance , Canopy, Capital on Tap, CapitalG, Capnamic Ventures, Cazoo, CBN (Central Bank of Nigeria), CBR (Central Bank of Russia), Central Bank of Turkey, CFPB (Consumer Finance Protection Bureau), Charles Schwab, Citi, Citizens Bank, Cleo, CMA (Capital Market Authority), Coconut, Commonwealth Bank, Connect Ventures, Crédit du Norde, Credit Hero, Credit Karma, Credit Ladder, Curve, Cuscal, Dave, Dawn Capital, DBS, DCU Fintech Innovation Centre, Dell, Dieter von Holtzbrinck Ventures, Digital Garage , Dots, dozens, Dwolla, ecommpay, EEA National Competent Authority, Ekata, EllieMae, Emma, eToro, Eurazeo, Eurobits Technologies, European Banking Authority, Experian, Facebook, Fattura24, FCA (Financial Conduct Authority), FCAC (Financial Consumer Agency of Canada), FDX (Financial Data Exchange), Federal Reserve, ferratum, Fin TechSystems, Fintech Sandbox, FinTecSystems, FiVision, Formfree, Freetrade, FSA (Financial Service Agency), FSC (Financial Services Commission), FS-ISAC (Financial Services Information Sharing and Analysis Center), Go Compare, GoCardless, GoFundMe, Goldman Sachs, Grab, Greycroft, Groupon, Halifax, HeyTrade, HKMA (Hong Kong Monetary Authority), HSBC, HV Capital, Hypothekarbank Lenzburg, IBM, ID4 Ventures, IFC (International Finance Corporation), illimity, Index Ventures, Instantor, Inventure, Investec, investify TECH, Investment Corporation of Dubai, IPF Digital, JPMorgan Chase, Klarna, Kleiner Perkins, KNF (Polish Financial Supervision Authority), Kontomatik, Korea Financial Information Services, KPMG Poland, La Banque Postal, Lakestar, Latitude, Lemonway, LEVEL, LHV, Lloyds, Lyft, MANTL, MaRS, MAS (Monetary Authority of Singapore), Maybank, McDonald’s, Microsoft, Ministerial Committee of Legislation,, Money Dashboard, Moneybox, MoneyFarm, MoneyWhizz, Monzo, Moov, Motive Partners , Multibank, NAB, NACHA (National Automated Clearing House Association), NASDAQ, National Bank of Rwanda, Nationwide, Natwest, Nets, Neuberger Berman Group, New Enterprise Associates, Nordic Capital, Northzone, Novalnet, NPCI (National Payments Council of India), Nutmeg, OCBC, Ourbanc, Oval, PayPal, Payveris, PBOC (People’s Bank of China), Pelion Venture Partners, Penfold, PensionBee, Placons, Plum, Poincenot Technology Studio, Polish Payment Standard Ltd (Polski Standard Platnosci), Poste Italiane, Prelim, PROfounders Capital, PropertyGuru, Qiwi, Quickbooks, QuickPay, Raiffeisen, Rakuten, RBI (Reserve Bank of India), RBS, Revolut, Robinhood, Santander, Sapphire, Sberbank, SFSA (Swedish Financial Supervisory Authority), SGFinDex, Simpl, Simple, Société Générale, Sodexo, Sozialbank, Spark Capital, SS&C, St George, Stake, Standard Bank, Standard Chartered, Starling, Stripe, SuperAngel, Swedbank, Swedish Financial Supervisory Authority, SwissBorg, Synch, Tarabut Gateway, Temasek Holdings, Tencent, Tieto, TPG, tribe, TSB, Uber, UBS, UniCredit, UOB, US Bank, US Department of Justice, US Treasury, Venmo, VIABILL, Visa, Vocalink, Warburg Pincus, Wave, Wealthfront, wealthify, WeBank, WeChat, Wells Fargo, Westpac, Wise, Wombat, Worldpay, Y Combinator.

Data & Interactive Forecast

Juniper Research’s Open Banking forecast suite includes:

Open Banking forecasts for:
  • Total Users
  • Total Number of Information API Calls
  • Total Volume & Value of Payments
  • Interactive scenario tool allowing users to manipulate Juniper Research’s data for 5 different metrics.
  • Access to the full set of forecast data of 12 tables and more than 2,900 datapoints.

Geographical splits: 25 countries

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the Interactive Scenario Tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.

Forecast Summary

The value of global payment transactions facilitated by Open Banking will exceed $116 billion in 2026, from just under $4 billion in 2021. This extraordinary growth rate of over 2,800% over the next five years will be driven by increasing user awareness of Open Banking features, supported by greater deployment within Europe, as vendors build on PSD2 (Second Payment Services Directive) APIs to deliver expanding services.
  • Open Banking-facilitated payments, where payments are made directly from bank accounts, are a growing threat to the dominance of cards within eCommerce. While card payments are well established, leveraging permissioned access to bank accounts can reduce fraud risks due to strict KYC (Know Your Customer) rules. Payment providers should partner with Open Banking API providers now to reduce risks of disintermediation.
  • Europe will account for over 75% of Open Banking payments users globally in 2026; demonstrating the head start that PSD2 has given this market. However, API vendors must look beyond regulatory minimum requirements to develop advanced use cases such as aggregation of additional products, including loans, credit cards and mortgages, as awareness builds.
  • Recent governmental support within the US will stimulate the growth of Open Banking, and the market will require payments players to develop new capabilities quickly to capitalise. As such, acquisitions and partnerships will intensify, so vendors can meet these evolving requirements, rather than developing their own solutions over time.

Open Banking Reports


Full Research Suite

  • Market trends, strategies and forecasts report (pdf)
  • Market data & forecasts - All topic data and interactivity (xls)
  • harvest market data platform (12 months’ online access) - find out more

Click here for more information and purchase options

Nov 2021




Research FAQs

Why is open banking important?
How big is the open banking market?
What is the open banking market growth?
Which region accounted for the largest open banking market share?

Research Details

Juniper Research
Nick Maynard, Damla Sat
Fintech & Payments
8 Key Regions - includes North America, Latin America, West Europe, Central & East Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East
Argentina, Australia, Brazil, Canada, China, Colombia, Denmark, France, Germany, India, Italy, Japan, South Korea, Mexico, Netherlands, Norway, Poland, Portugal, Saudi Arabia, Singapore, South Africa, Spain, Sweden, UK, USA

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