United State Open Banking Market Overview | Fintech Disruption, Top Companies are Banco Bilbao Vizcaya Argentaria S.A, Plaid Inc., TrueLayer Ltd

WILMINGTON, DE, UNITED STATES:

United States Open Banking Market size US$ 7.14 B in 2024 to projected US$ 34.5 B by 2032 with CAGR 25%

Japan Open Banking Market Size US$ 1.11 B in 2024 to grow US$ 4.78 B by 2030 with CAGR 27%

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

According to DataM Intelligence has published a new research report on "Open Banking Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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Latest M & A

HSBC acquired Silicon Valley Bank UK Limited to strengthen its banking franchise in the UK, reflecting major consolidation trends in open banking enablers and payment infrastructure.​

Tide, a leading UK digital business bank, completed the acquisition of Funding Options, a marketplace for business finance, integrating credit intermediation capabilities.​

Financial sector M&A surged in India, with notable deals including Emirates NBD acquiring a 60% stake in RBL Bank for $3 billion, reflecting heightened activity in fintech and banking sectors relevant to open banking.​

Broader fintech M&A also shows vertical consolidation and strategic expansions of international markets by financial technology companies.

Top Industry Players:

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

Key Industry Sector Development:

The US Consumer Financial Protection Bureau (CFPB) is revising its open banking rule after a preliminary injunction, but data sharing between banks and fintechs continues to grow rapidly, with API connections increasing over 50% in the past year. JPMorgan Chase's data-sharing deals with fintechs marked a key milestone.​

The UK Financial Conduct Authority (FCA) unveiled a five-year strategy aimed at driving growth in financial services, including open banking initiatives to foster innovation and competition.​

Open Banking Limited in the UK launched plans to create an "independent central operator" intended to accelerate Variable Recurring Payments (VRPs) adoption, a significant development in payment innovation.

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Key Segments:

By Service
✅ Payments - 42%, the largest share driven by instant payments, A2A transfers, and PSD2 adoption

✅ Banking & Capital Markets - 28%, supported by API-driven wealth and credit services

✅ Digital Currencies - 19%, fueled by crypto integration and tokenized assets

✅ Value-Added Services - 11%, including budgeting apps, analytics, and fraud tools

By Deployment
✅ Cloud - 64%, dominating due to scalability, API integration, and lower deployment cost

✅ On-premise - 36%, preferred by large banks requiring high data control

By Distribution Channel
✅ Bank Channels - 48%, the leading segment as banks increasingly expose APIs directly

✅ App Markets - 27%, driven by fintech apps and digital wallets

✅ Aggregators - 17%, expanding due to unified API solutions

✅ Distributors - 8%, niche partners enabling third-party integrations

Regional Analysis for Market:

✅ Europe - 44%
The global leader due to PSD2, strong regulatory push, and widespread API adoption.

✅ North America - 32%
Growing rapidly with voluntary open banking frameworks, fintech expansion, and strong digital banking demand.

✅ Asia Pacific - 21%
Accelerating due to digital banking initiatives in India, Singapore, Australia, and Japan.

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Product Launches

Virgin Money partnered with Mastercard to enhance its credit card app using open banking technology, demonstrating how banks are embedding open banking capabilities for enhanced user experiences.​

New digital banking platforms and API engines have been launched, enabling faster integration and payments infrastructure adoption (e.g., UPI API engines, peer-to-peer payment features) primarily in emerging markets like India.​

Open banking data APIs are becoming publicly accessible from several providers, improving direct debit, standing orders, and bank product data access for developers.

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