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Open Banking Market By Financial Services, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2031

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    Report

  • 228 Pages
  • August 2022
  • Region: Global
  • Allied Market Research
  • ID: 5031419
Description Jump to:
Open banking is a banking service in which the bank account data is shared through secured open application programming interface (APIs) to third-party services providers. These APIs deliver a secure way to share financial information between two parties. Furthermore, this financial information is used by banks and third-party organizations to design applications and services which are offered to the customer. The exchanged information also allows the designing of advanced and personalized applications which improve the customer experience levels related to financial services. Furthermore, open banking platform makes it easier for consumers to compare the details of current accounts and other banking services. In addition, the advanced applications will potentially assist consumers such as small and medium businesses in making financial decisions.

Increase in the number of people using new wave apps and services and rise in customer engagement and attending banking customers need boost the growth of the open banking market. Furthermore, the benefits of an open banking platform are growing and are advantageous for all parties involved in the financial services sector, including banks, enterprises, FinTech, and innovators. This is an important factor that fosters the growth of the open banking market.

However, an increase in events of online fraud and data insecurity is expected to restrict the open banking market growth. On the contrary, significant increase in the collaboration of financial service providers, and traditional banking with FinTech is to boost the growth of open banking market.

The open banking market is studied on the basis of financial services, distribution channel, and region. By financial service, the market is divided into bank & capital market, payments, digital currencies, and others. As per distribution channel, it is divided into bank channels, app market, distributors, and aggregators. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The open banking market analysis includes top companies operating in the market such as Banco Bilbao Vizcaya Argentaria. S.A., Credit Agricole, Deposit Solutions, Finastra, Jack Henry & Associates, Inc., Nordigen Solutions, Revolut Ltd., Societe Generale, Tink (Visa Inc.), and Yapily Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the open banking industry.

KEY BENEFITS FOR STAKEHOLDERS

  • The study provides in-depth analysis of the open banking market along with the current trends and future estimations to illustrate the imminent investment pockets.
  • Information about key drivers, restrains, & opportunities and their impact analysis on the open banking market size are provided in the report.
  • The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of the open banking market from 2020 to 2031 is provided to determine the market potential.

Key Market Segments

By Financial Services

  • Banking Capital Markets
  • Payments
  • Digital Currencies
  • Value Added Services

By Distribution Channel

  • Bank Channel
  • App market
  • Distributors
  • Aggregators

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin Amercia
  • Middle East
  • Africa

Key Market Players

  • BBVA SA
  • Credit Agricole
  • Deposit Solutions
  • Finestra
  • Jack Henry & Associates, Inc.
  • Nordigen Solutions
  • Revolut Ltd.
  • Societe Generale
  • Tink
  • Yapily Ltd.

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: OPEN BANKING MARKET, BY FINANCIAL SERVICES
4.1 Overview
4.1.1 Market size and forecast
4.2 Banking & Capital Markets
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Payments
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Digital Currencies
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Value Added Services
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
CHAPTER 5: OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL
5.1 Overview
5.1.1 Market size and forecast
5.2 Bank Channel
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 App market
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Distributors
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Aggregators
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
CHAPTER 6: OPEN BANKING MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Financial Services
6.2.3 North America Market size and forecast, by Distribution Channel
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Market size and forecast, by Financial Services
6.2.4.1.2 Market size and forecast, by Distribution Channel
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Financial Services
6.2.4.2.2 Market size and forecast, by Distribution Channel
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Financial Services
6.3.3 Europe Market size and forecast, by Distribution Channel
6.3.4 Europe Market size and forecast, by country
6.3.4.1 United Kingdom
6.3.4.1.1 Market size and forecast, by Financial Services
6.3.4.1.2 Market size and forecast, by Distribution Channel
6.3.4.2 Germany
6.3.4.2.1 Market size and forecast, by Financial Services
6.3.4.2.2 Market size and forecast, by Distribution Channel
6.3.4.3 France
6.3.4.3.1 Market size and forecast, by Financial Services
6.3.4.3.2 Market size and forecast, by Distribution Channel
6.3.4.4 Italy
6.3.4.4.1 Market size and forecast, by Financial Services
6.3.4.4.2 Market size and forecast, by Distribution Channel
6.3.4.5 Spain
6.3.4.5.1 Market size and forecast, by Financial Services
6.3.4.5.2 Market size and forecast, by Distribution Channel
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Financial Services
6.3.4.6.2 Market size and forecast, by Distribution Channel
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Financial Services
6.4.3 Asia-Pacific Market size and forecast, by Distribution Channel
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Financial Services
6.4.4.1.2 Market size and forecast, by Distribution Channel
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Financial Services
6.4.4.2.2 Market size and forecast, by Distribution Channel
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Financial Services
6.4.4.3.2 Market size and forecast, by Distribution Channel
6.4.4.4 Australia
6.4.4.4.1 Market size and forecast, by Financial Services
6.4.4.4.2 Market size and forecast, by Distribution Channel
6.4.4.5 South Korea
6.4.4.5.1 Market size and forecast, by Financial Services
6.4.4.5.2 Market size and forecast, by Distribution Channel
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Market size and forecast, by Financial Services
6.4.4.6.2 Market size and forecast, by Distribution Channel
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Financial Services
6.5.3 LAMEA Market size and forecast, by Distribution Channel
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Latin Amercia
6.5.4.1.1 Market size and forecast, by Financial Services
6.5.4.1.2 Market size and forecast, by Distribution Channel
6.5.4.2 Middle East
6.5.4.2.1 Market size and forecast, by Financial Services
6.5.4.2.2 Market size and forecast, by Distribution Channel
6.5.4.3 Africa
6.5.4.3.1 Market size and forecast, by Financial Services
6.5.4.3.2 Market size and forecast, by Distribution Channel
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 BBVA SA
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Credit Agricole
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Deposit Solutions
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Finestra
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Jack Henry & Associates, Inc.
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Nordigen Solutions
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Revolut Ltd.
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Societe Generale
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Tink
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Yapily Ltd.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
List of Tables
Table 1. Global Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 2. Network Function Virtualization Market Size, for Hardware, by Region, 2021-2031 ($Billion)
Table 3. Network Function Virtualization Market for Hardware, by Country, 2021-2031 ($Billion)
Table 4. Network Function Virtualization Market Size, for Software, by Region, 2021-2031 ($Billion)
Table 5. Network Function Virtualization Market for Software, by Country, 2021-2031 ($Billion)
Table 6. Network Function Virtualization Market Size, for Services, by Region, 2021-2031 ($Billion)
Table 7. Network Function Virtualization Market for Services, by Country, 2021-2031 ($Billion)
Table 8. Global Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 9. Network Function Virtualization Market Size, for Large Enterprises, by Region, 2021-2031 ($Billion)
Table 10. Network Function Virtualization Market for Large Enterprises, by Country, 2021-2031 ($Billion)
Table 11. Network Function Virtualization Market Size, for Smes, by Region, 2021-2031 ($Billion)
Table 12. Network Function Virtualization Market for Smes, by Country, 2021-2031 ($Billion)
Table 13. Global Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 14. Network Function Virtualization Market Size, for Service Providers, by Region, 2021-2031 ($Billion)
Table 15. Network Function Virtualization Market for Service Providers, by Country, 2021-2031 ($Billion)
Table 16. Network Function Virtualization Market Size, for Data Centers, by Region, 2021-2031 ($Billion)
Table 17. Network Function Virtualization Market for Data Centers, by Country, 2021-2031 ($Billion)
Table 18. Network Function Virtualization Market Size, for Enterprises, by Region, 2021-2031 ($Billion)
Table 19. Network Function Virtualization Market for Enterprises, by Country, 2021-2031 ($Billion)
Table 20. Network Function Virtualization Market, by Region, 2021-2031 ($Billion)
Table 21. North America Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 22. North America Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 23. North America Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 24. North America Network Function Virtualization Market, by Country, 2021-2031 ($Billion)
Table 25. U.S. Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 26. U.S. Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 27. U.S. Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 28. Canada Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 29. Canada Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 30. Canada Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 31. Europe Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 32. Europe Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 33. Europe Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 34. Europe Network Function Virtualization Market, by Country, 2021-2031 ($Billion)
Table 35. UK Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 36. UK Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 37. UK Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 38. Germany Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 39. Germany Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 40. Germany Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 41. France Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 42. France Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 43. France Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 44. Italy Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 45. Italy Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 46. Italy Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 47. Spain Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 48. Spain Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 49. Spain Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 50. Rest of Europe Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 51. Rest of Europe Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 52. Rest of Europe Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 53. Asia-Pacific Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 54. Asia-Pacific Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 55. Asia-Pacific Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 56. Asia-Pacific Network Function Virtualization Market, by Country, 2021-2031 ($Billion)
Table 57. China Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 58. China Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 59. China Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 60. India Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 61. India Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 62. India Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 63. Japan Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 64. Japan Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 65. Japan Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 66. South Korea Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 67. South Korea Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 68. South Korea Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 69. Rest of Asia-Pacific Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 70. Rest of Asia-Pacific Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 71. Rest of Asia-Pacific Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 72. LAMEA Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 73. LAMEA Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 74. LAMEA Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 75. LAMEA Network Function Virtualization Market, by Country, 2021-2031 ($Billion)
Table 76. Latin America Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 77. Latin America Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 78. Latin America Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 79. Middle East Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 80. Middle East Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 81. Middle East Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 82. Africa Network Function Virtualization Market, by Component, 2021-2031 ($Billion)
Table 83. Africa Network Function Virtualization Market, by Enterprise Size, 2021-2031 ($Billion)
Table 84. Africa Network Function Virtualization Market, by End-user, 2021-2031 ($Billion)
Table 85. Cisco Systems, Inc.: Company Snapshot
Table 86. Cisco Systems, Inc.: Operating Segments
Table 87. Cisco Systems, Inc.: Product Portfolio
Table 88. Cisco Systems, Inc.: Net Sales
Table 89. Cisco Systems, Inc.: Key Stratergies
Table 90. Ericsson: Company Snapshot
Table 91. Ericsson: Operating Segments
Table 92. Ericsson: Product Portfolio
Table 93. Ericsson: Net Sales
Table 94. Ericsson: Key Stratergies
Table 95. Huawei Technologies Co., Ltd.: Company Snapshot
Table 96. Huawei Technologies Co., Ltd.: Operating Segments
Table 97. Huawei Technologies Co., Ltd.: Product Portfolio
Table 98. Huawei Technologies Co., Ltd.: Net Sales
Table 99. Huawei Technologies Co., Ltd.: Key Stratergies
Table 100. Vmware, Inc.: Company Snapshot
Table 101. Vmware, Inc.: Operating Segments
Table 102. Vmware, Inc.: Product Portfolio
Table 103. Vmware, Inc.: Net Sales
Table 104. Vmware, Inc.: Key Stratergies
Table 105. Nokia Corporation: Company Snapshot
Table 106. Nokia Corporation: Operating Segments
Table 107. Nokia Corporation: Product Portfolio
Table 108. Nokia Corporation: Net Sales
Table 109. Nokia Corporation: Key Stratergies
Table 110. Hewlett Packard Enterprise Company: Company Snapshot
Table 111. Hewlett Packard Enterprise Company: Operating Segments
Table 112. Hewlett Packard Enterprise Company: Product Portfolio
Table 113. Hewlett Packard Enterprise Company: Net Sales
Table 114. Hewlett Packard Enterprise Company: Key Stratergies
Table 115. Dell Emc: Company Snapshot
Table 116. Dell Emc: Operating Segments
Table 117. Dell Emc: Product Portfolio
Table 118. Dell Emc: Net Sales
Table 119. Dell Emc: Key Stratergies
Table 120. Juniper Networks, Inc.: Company Snapshot
Table 121. Juniper Networks, Inc.: Operating Segments
Table 122. Juniper Networks, Inc.: Product Portfolio
Table 123. Juniper Networks, Inc.: Net Sales
Table 124. Juniper Networks, Inc.: Key Stratergies
Table 125. Zte Corporation: Company Snapshot
Table 126. Zte Corporation: Operating Segments
Table 127. Zte Corporation: Product Portfolio
Table 128. Zte Corporation: Net Sales
Table 129. Zte Corporation: Key Stratergies
Table 130. Fujitsu Limited: Company Snapshot
Table 131. Fujitsu Limited: Operating Segments
Table 132. Fujitsu Limited: Product Portfolio
Table 133. Fujitsu Limited: Net Sales
Table 134. Fujitsu Limited: Key Stratergies
Table 135. Comba Telecom Systems: Company Snapshot
Table 136. Comba Telecom Systems: Operating Segments
Table 137. Comba Telecom Systems: Product Portfolio
Table 138. Comba Telecom Systems: Net Sales
Table 139. Comba Telecom Systems: Key Stratergies
Table 140. Affirmed Networks: Company Snapshot
Table 141. Affirmed Networks: Operating Segments
Table 142. Affirmed Networks: Product Portfolio
Table 143. Affirmed Networks: Net Sales
Table 144. Affirmed Networks: Key Stratergies
Table 145. Netscout Systems, Inc.: Company Snapshot
Table 146. Netscout Systems, Inc.: Operating Segments
Table 147. Netscout Systems, Inc.: Product Portfolio
Table 148. Netscout Systems, Inc.: Net Sales
Table 149. Netscout Systems, Inc.: Key Stratergies
Table 150. Wind River Systems, Inc.: Company Snapshot
Table 151. Wind River Systems, Inc.: Operating Segments
Table 152. Wind River Systems, Inc.: Product Portfolio
Table 153. Wind River Systems, Inc.: Net Sales
Table 154. Wind River Systems, Inc.: Key Stratergies
Table 155. Eci Telecom: Company Snapshot
Table 156. Eci Telecom: Operating Segments
Table 157. Eci Telecom: Product Portfolio
Table 158. Eci Telecom: Net Sales
Table 159. Eci Telecom: Key Stratergies
Table 160. Mavenir: Company Snapshot
Table 161. Mavenir: Operating Segments
Table 162. Mavenir: Product Portfolio
Table 163. Mavenir: Net Sales
Table 164. Mavenir: Key Stratergies
Table 165. Ciena Corporation: Company Snapshot
Table 166. Ciena Corporation: Operating Segments
Table 167. Ciena Corporation: Product Portfolio
Table 168. Ciena Corporation: Net Sales
Table 169. Ciena Corporation: Key Stratergies
List of Figures
Figure 1. Open Banking Market Segmentation
Figure 2. Open Banking Market,2020-2031
Figure 3. Open Banking Market,2020-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Open Banking Market:Drivers, Restraints and Opportunities
Figure 12. Open Banking Market,By Financial Services,2020(%)
Figure 13. Comparative Share Analysis of Banking & Capital Markets Open Banking Market,2020-2031(%)
Figure 14. Comparative Share Analysis of Payments Open Banking Market,2020-2031(%)
Figure 15. Comparative Share Analysis of Digital Currencies Open Banking Market,2020-2031(%)
Figure 16. Comparative Share Analysis of Value Added Services Open Banking Market,2020-2031(%)
Figure 17. Open Banking Market,By Distribution Channel,2020(%)
Figure 18. Comparative Share Analysis of Bank Channel Open Banking Market,2020-2031(%)
Figure 19. Comparative Share Analysis of App Market Open Banking Market,2020-2031(%)
Figure 20. Comparative Share Analysis of Distributors Open Banking Market,2020-2031(%)
Figure 21. Comparative Share Analysis of Aggregators Open Banking Market,2020-2031(%)
Figure 22. Open Banking Market by Region,2020
Figure 23. U.S. Open Banking Market,2020-2031($Million)
Figure 24. Canada Open Banking Market,2020-2031($Million)
Figure 25. United Kingdom Open Banking Market,2020-2031($Million)
Figure 26. Germany Open Banking Market,2020-2031($Million)
Figure 27. France Open Banking Market,2020-2031($Million)
Figure 28. Italy Open Banking Market,2020-2031($Million)
Figure 29. Spain Open Banking Market,2020-2031($Million)
Figure 30. Rest of Europe Open Banking Market,2020-2031($Million)
Figure 31. China Open Banking Market,2020-2031($Million)
Figure 32. Japan Open Banking Market,2020-2031($Million)
Figure 33. India Open Banking Market,2020-2031($Million)
Figure 34. Australia Open Banking Market,2020-2031($Million)
Figure 35. South Korea Open Banking Market,2020-2031($Million)
Figure 36. Rest of Asia-Pacific Open Banking Market,2020-2031($Million)
Figure 37. Latin Amercia Open Banking Market,2020-2031($Million)
Figure 38. Middle East Open Banking Market,2020-2031($Million)
Figure 39. Africa Open Banking Market,2020-2031($Million)
Figure 40. Top Winning Strategies, by Year
Figure 41. Top Winning Strategies, by Development
Figure 42. Top Winning Strategies, by Company
Figure 43. Product Mapping of Top 10 Players
Figure 44. Competitive Dashboard
Figure 45. Competitive Heatmap of Top 10 Key Players
Figure 46. Bbva SA.: Net Sales ,($Million)
Figure 47. Credit Agricole.: Net Sales ,($Million)
Figure 48. Deposit Solutions.: Net Sales ,($Million)
Figure 49. Finestra.: Net Sales ,($Million)
Figure 50. Jack Henry & Associates, Inc..: Net Sales ,($Million)
Figure 51. Nordigen Solutions.: Net Sales ,($Million)
Figure 52. Revolut Ltd..: Net Sales ,($Million)
Figure 53. Societe Generale.: Net Sales ,($Million)
Figure 54. Tink.: Net Sales ,($Million)
Figure 55. Yapily Ltd..: Net Sales ,($Million)

Executive Summary

According to the report, titled, “Open Banking Market," the open banking market was valued at $13.9 billion in 2020, and is estimated to reach $123.7 billion by 2031, growing at a CAGR of 22.3% from 2022 to 2031.

Open banking is a financial tool that securely shares or openly publishes customers' data through an application programming interface (APIs) with third party service providers. APIs are used as a secure method of communication between online banking systems and third-parties service providers. An open banking API offers security for private data of bank customers which is used by third party’s service providers. These APIs used by banks could be integrated with third-party technologies to carry out specific functions related to the banking data which promotes the growth of open banking market. Open banking platform is used for personal financial management that helps view snapshots of customer financial history. It is also used for an affordability check that helps to ease loan processes by allowing lenders one-time access to a user’s bank data.

Furthermore, the adoption of open baking platform by major players is expected to benefit the open banking market growth, as it is increasingly acknowledged as a success element for numerous financial organizations. For instance, in June 2022, the start route open banking worldwide initiative was introduced by Mastercard to support open banking companies on their path to growth, identify special possibilities for co-innovation, and power experiences that give customers a choice.

By distribution channel, the app market segment acquired major share of open banking market attributed to fact that many applications request to enter account credentials and ask customers to grant permission to collect the data. Consumer can authorize third-party access without revealing bank login details through open banking API which is another major benefit offered by the applications using open banking APIs.

Region-wise, Europe dominated the open banking market trends in 2020. This is attributed to growth in open banking platform and need to increase security of online payments. Furthermore, the government directives for banks to mandatorily open APIs is another factor that boosts the growth of the market in this region.

The demand for open banking has increased considerably during the COVID-19 pandemic. This is attributed to increased adoption of payment gateway APIs used by online platform such as Paytm, PhonePe and Google Pay. Moreover, open banking is expected to grow as banks are increasingly adopting big data analytics to improve their digital payment platforms. Thus, these factors promoted the growth of the open banking industry during the pandemic situation.

Key Findings of the Study

  • By financial service, the banking & capital markets segment led the highest open banking market share, in terms of revenue in 2020.
  • By distribution channel, the distribution segment is expected to exhibit the fastest growth rate during the forecast period in open banking market.
  • By region, Europe generated the highest revenue of open banking market size in 2020.
  • The key players operating in the open banking market analysis include as Banco Bilbao Vizcaya Argentaria. S.A., Credit Agricole, Deposit Solutions, Finastra, Jack Henry & Associates, Inc., Nordigen Solutions, Revolut Ltd., Societe Generale, Tink (Visa Inc.), and Yapily Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Companies Mentioned

  • Bbva Sa
  • Credit Agricole
  • Deposit Solutions
  • Finestra
  • Jack Henry & Associates, Inc.
  • Nordigen Solutions
  • Revolut Ltd.
  • Societe Generale
  • Tink
  • Yapily Ltd.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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