Open Banking Market Growth, Trends, and Opportunities in 2025 | Top key players - Plaid Inc., TrueLayer Ltd, Finleap Connect.

The Global Open Banking Market reached US$ 20.9 billion in 2022 and is expected to reach US$ 129.8 billion by 2030, growing with a CAGR of 25.7% during the forecast period 2024-2031.

Open Banking Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Open Banking is a financial system that allows third-party providers to securely access consumer banking data, with consent, through APIs. This innovation enhances competition, promotes personalized financial services, and offers more convenient payment solutions. By providing better transparency and control over financial data, Open Banking empowers consumers to make smarter decisions and enhances the overall banking experience.

List of the Key Players in the Open Banking Market:

Banco Bilbao Vizcaya Argentaria S.A, Plaid Inc., TrueLayer Ltd, Finleap Connect, Finastra, Tink, Jack Henry & Associates, Inc, Mambu, MuleSoft and NCR Corporation.

Industry Development:

On 21 February 2023, a white paper co-authored by NatWest and NAB was released. The white paper explores the similarities between the UK's Open Banking system and Australia's Consumer Data Right (CDR), shedding light on the growing importance of data-sharing frameworks in improving financial services and consumer access to information.

On 6 April 2023, Nuapay (the Open Banking business of EML Payments Limited) was awarded at the Merchant Payment Ecosystem Awards in Berlin, Germany. Nuapay received recognition for its Authenticated Mandates solution, winning the prestigious Best Use of Open Banking for Payments award. This accolade highlights the company's innovative approach to simplifying payments through Open Banking technology.

Growth Forecast Projected:

The Global Open Banking Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Open Banking Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Open Banking Market:

By Service: Digital Currencies, Banking & Capital Markets, Payments, Value Added Services.

By Deployment: Cloud, On-premise.

By Distribution Channel: Bank Channels, App Markets, Distributors, Aggregators.

Regional Analysis for Open Banking Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Open Banking market?

➠ Who are the leading manufacturers in the global Open Banking industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Open Banking industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Open Banking market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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