Open Banking Market
Financial Services

Global Open Banking Market Outlook, Opportunities And Strategies – Includes Open Banking Market Trends

Learn about the global open banking market through The Business Research Company, which provides information on open banking market size, open banking market drivers and restraints, open banking market players, the COVID-19 impact on the open banking market, and more.

 

The global open banking market size is expected to grow from $15.13 billion in 2021 to $19.14 billion in 2022 at a compound annual growth rate (CAGR) of 26.5%. The global open banking market size is expected to grow to $48.13 billion in 2026 at a CAGR of 25.9%.

The surge in the use of online platforms for making payments is contributing to the growth of the open banking market.

 

Request A Sample For The Global Open Banking Market Report:
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Open Banking Market
Open Banking Market

 

The open banking market consists of sales of open banking services by entities (organizations, sole traders, and partnerships) that unites banks, third parties, and technology providers, allowing them to exchange data easily and securely for the benefit of their consumers. Open banking is a banking practice in which third-party financial service providers can use application programming interfaces (APIs) to gain access to consumer banking, transactions, and other data from banks and NBFCs. These APIs deliver a secure way to share financial information between two parties and makes it easier for consumers to compare the details of current accounts and other banking services.

 

Global Open Banking Market Segments Include:

By Service Type: Transactional Services, Communicative Services, Information Services

By Financial Services: Bank and Capital Markets, Payments, Digital Currencies, Value Added Services

By Deployment Type: Cloud, On-Premises, Hybrid

By Distribution Channel: Bank Channels, App Market, Distributors, Aggregators

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the open banking market in 2021

 

Big data analytics is a key trend gaining popularity in the open banking market. Big data analytics collects, processes, and analyzes structured, and unstructured data. The major use of big data analytics is to get business insights into the data. In the open banking market, big data analytics is used to personalize the services for improving the customer experience.

 

TBRC’s open banking market report covers:

Major Market Players: Capital One, HSBC Bank plc, Banco Bilbao Vizcaya Argentaria S.A, NatWest Group plc, DBS Bank, Barclays, Lloyds Banking Group, Citigroup, Banco Santander S.A., Credit Agricole, NCR Corporation, DemystData, Figo GmbH, Finastra, Jack Henry & Associates Inc., and MineralTree Inc.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

 

The Open Banking Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides open banking market overviews, analyzes and forecasts market size, share, open banking market players, open banking market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s open banking market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

 

Here Is A List Of Similar Reports From The Business Research Company:

M-commerce Payment Global Market Report 2022

Cards & Payments Global Market Report 2022

Digital Payments Global Market Report 2022

 

Interested To Know More About The Business Research Company?

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