Open Banking API Market Size, Share, Opportunities, And Trends By Component (Solutions, Services), By Deployment (Cloud, On-Premises), By Financial Service (Banking And Capital Markets, Payments, Digital Currencies, Others), By Distribution Channel (App Markets, Bank Channels, Others), And By Geography – Forecasts From 2025 To 2030

Description

Open Banking API Market Size:

The Open Banking API market is anticipated to expand at a high CAGR over the forecast period.

The open-banking API market is experiencing strong growth due to the transformation of the financial services landscape. This has promoted Transparency, competition, and innovation in the open banking API market. Open banking allows third-party providers to access the customers’ financial data. It has led to the development of tools such as personalised budgeting tools, account aggregators, and alternative lending platforms. Banks have started collaborating with fintech firms to offer seamless and integrated services. This helps fintech develop to build innovative financial services on top of banks’ infrastructure. This includes account aggregation tools and AI-powered budgeting apps. Open Banking APIs also improve operational efficiencies of fintech institutions. It automates data sharing through APIs, and it also drives financial inclusion.

Open Banking API Market Overview & Scope:

The Open Banking API market is segmented by:

• Component: Solutions (software platforms, tools, and service layers) have a significant share of the Open Banking API market. This is because many banks and fintechs rely on ready-made solutions to manage the entire lifecycle of Open Banking APIs.It also requires strict adherence to regulatory frameworks. Financial institutions prefer solutions that can be plugged into their systems.
• Deployment Type: Cloud has a significant share of the Open Banking API market, as cloud infrastructure allows for rapid development of the Open Banking API. This interoperability is required for Open Banking, where continuous integration between banks, fintechs, and third-party apps is required
• Financial Service: Payments have a significant share of the Open Banking API Market as the core functionality of the Open Banking Api is Payment Initiation Services (PIS). Other payment methods have high interchange fees. Government and regulators are actively promoting Open Banking-enabled payments.
• Distribution Channel: Bank Channels Hold a Significant Share of the Open Banking API Market as Banks are the primary gatekeepers of consumer financial data, and banks manage millions of consumers’ data. They have a crucial advantage as they have direct access to customer data.
• Region: The Asia-Pacific Open Banking API market is rapidly expanding due to the growing reliance of countries such as China and India on regulatory support, growing fintech ecosystems and increasing consumer demand for digital financial services. Countries have started to develop their own open banking frameworks to encourage their financial systems and their innovation.

Top Trends Shaping the Open Banking API Market:

1.  Integration of AI and Machine Learning: A trend in the Open Banking APIs market that is gaining popularity has been an increase in the deployment of AI with machine learning is providing many services like real-time predictive analytics, anomaly detection, and personalised financial planning.

2. Expansion into Open Finance and Cross-Industry Applications- Another significant trend is the growing number of expansions into open finance and cross-industry applications. Open finance includes services like insurance, pensions, utilities, wealth management, and even sustainability-focused services. As the Open Finance will mature, it is likely to drive massive growth in the usage of API in Open Banking as well.

Open Banking API Market Growth Drivers vs. Challenges:

Drivers:

• Regulatory Mandates and Standardisation: One of the key drivers of the Open Banking APIs is regulatory mandates and standardisations. There are many mandatory requirements across the globe, such as the EU’s PSD2 and its successor PSD3 (2024), the UK’s Open Banking Standard, Australia’s Consumer Data Right (CDR), and the U.S. Consumer Financial Protection Bureau’s (CFPB) Personal Financial Data Rights rule. According to the Ministry of Finance’s report on ‘UPI: Revolutionising Digital Payments in India’ data of December 2024, India’s UPI has processed 16.58 billion transactions in a single month, which is October 2024, which amounted to Rs. 23.49 lakh crores and processed more than 16 billion transactions. It showed a 45% year-on-year growth in 2023.
• Consumer Demand for Personalised and Seamless Financial Services: There has been a huge surge in the demand for personalised and real-time financial services. This rise in demand is another driver for the Open Banking API market. According to Macro Global’s State of Open Banking in Europe 2024, Europe was expected to reach 63.8 million open banking users by 2024, which was a 400% increase from the past four years. As in 2022 there were only 5 million open banking users in the year 2022. Different countries in Europe had different maturity scores for open banking API. For example, Germany had an 8.2 maturity score, which is second in rank across the European Market, and Sweden had an 8.0 maturity score.

Challenges:

• Lack of Standardisation: One of the major challenges of the Open Banking API is the absence of global or even regional standardisation. The Open Banking API is evolving differently among different regions. In the US, Open Banking has evolved through private efforts, not through government regulation. This lack of standardisation creates inconsistent user experiences and increases integration complexity for fintech firms. It also affects cross-border Open Banking efforts. The current situation of the Open Banking API makes it difficult for fintech firms to expand internationally.

Real Time Payments Infrastructure Market Regional Analysis:

• North America: North America’s Open Banking API market is witnessing growth due to the rise of fintech innovation, the evolution of consumer expectations, and the increase in regulatory momentum. In the USA. The Open Banking is expanding due to the financial technology companies and progressive banks. These companies are voluntarily adopting API-driven models. Another significant push in the US is towards consumer data rights. Institutions and consumers are working toward frameworks that ensure consent-based, secure data sharing.

Open Banking API Market Competitive Landscape:

The market has many notable players, including. Plaid, Truelayer, Yapily, Mastercard, Inc., Visa.Inc., GoCardless, Salt Edge, TESOBE GmbH, Finexer, Stripe, among others   

• Partnership: In June 2025., Salt Edge announced its partnership with Plumery to promote next-generation digital banking experiences. This strategic partnership brings together Plumer's customer-centric platform with Salt-Edge’s data connectivity and regulatory expertise.
• Partnership: In March 2025, Verizon announced its partnership with Santander Bank to introduce Verizon+Open Bank Savings. This partnership aims to enhance the Openbank digital experience.

Open Banking API Market Segmentation:

By Component

• Solutions
• Services

By Deployment

• Cloud
• On-premises

By Financial Service

• Banking And Capital Markets
• Payments
• Digital Currencies
• Others

By Distribution Channel

• App Markets
• Bank channels
• Others

By Region

• North America
  • USA
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Others
• Europe
  • United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • Others
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Others
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Taiwan
  • Thailand
  • Others

Table Of Contents

1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK 

5. OPEN BANKING API MARKET BY COMPONENT 

5.1. Introduction

5.2. Solutions

5.3. Services

6. OPEN BANKING API MARKET BY DEPLOYMENT TYPE

6.1. Introduction

6.2. Cloud

6.3. On-Premise

7. OPEN BANKING API MARKET  BY FINANCIAL SERVICE

7.1. Introduction

7.2. Banking And Capital Markets

7.3. Payments

7.4. Digital Currencies

7.5. Others

8. OPEN BANKING API MARKET  BY DISTRIBUTION CHANNEL

8.1. Introduction

8.2. App markets

8.3. Bank channels

8.4. Others

9.  OPEN BANKING API MARKET BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. USA

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil 

9.3.2. Argentina

9.3.3. Others

9.4. Europe

9.4.1. United Kingdom

9.4.2. Germany

9.4.3. France

9.4.4. Italy

9.4.5. Spain

9.4.6. Others

9.5. Middle East & Africa

9.5.1. Saudi Arabia

9.5.2. UAE

9.5.3. Others

9.6. Asia Pacific

9.6.1. China

9.6.2. India

9.6.3. Japan

9.6.4. South Korea

9.6.5. Taiwan

9.6.6. Thailand

9.6.7. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. Plaid

11.2. Truelayer

11.3. Yapily

11.4. Mastercard, Inc.

11.5. Visa.Inc.

11.6. GoCardless

11.7. Salt Edge

11.8. TESOBE GmbH

11.9. Finexer

11.10. Stripe

12. APPENDIX

12.1. Currency 

12.2. Assumptions

12.3. Base and Forecast Years Timeline

12.4. Key benefits for the stakeholders

12.5. Research Methodology 

12.6. Abbreviations 

Companies Profiled

Plaid

Truelayer

Yapily

Mastercard, Inc.

Visa.Inc.

GoCardless

Salt Edge

TESOBE GmbH

Finexer

Stripe

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