Open Banking Market Report 2026

The open banking market size has grown exponentially in recent years. It will grow from $38.71 billion in 2025 to $48.28 billion in 2026 at a compound annual growth rate (CAGR) of 24.7%. The growth in the historic period can be attributed to regulatory mandates supporting open banking, increasing digital banking adoption, expansion of fintech partnerships, rising consumer demand for transparency, availability of standardized api frameworks.

The open banking market size is expected to see exponential growth in the next few years. It will grow to $115.77 billion in 2030 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to growing deployment of ai-driven financial insights, expansion of cross-industry open finance models, rising focus on data privacy compliance, increased adoption of cloud-based banking platforms, growing innovation in value-added financial services. Major trends in the forecast period include increasing adoption of api-based financial ecosystems, rising use of real-time data sharing services, growing demand for embedded finance solutions, expansion of account aggregation capabilities, enhanced focus on secure data consent management.

The surge in the use of online platforms for payments is expected to drive the growth of the open banking market. The digital payment ecosystem is rapidly expanding due to evolving payment methods, increased e-commerce adoption, improved broadband connectivity, and the introduction of new technologies. Payment gateway APIs are employed by online platforms such as PhonePe, Paytm, and Google Pay to manage recurring billing, and these APIs are often leveraged in open banking frameworks. For instance, in July 2025, according to the Bangko Sentral ng Pilipinas, a Philippines-based central banking authority, digital retail payments accounted for 57.4% of total transaction volume in 2024, reflecting a year-on-year increase of 4.6 percentage points from 2023. Therefore, the growth in online payment platform usage is driving the expansion of the open banking market.

Major companies operating in the open banking market are focusing on innovative solutions such as integrated open banking platforms to enhance secure data sharing, regulatory compliance, and modern financial service delivery. Integrated open banking platforms are API-based technologies that connect financial institutions with standardized regulatory frameworks and identity verification systems, enabling streamlined onboarding, automated compliance, and secure transaction processing. For instance, in November 2024, Brankas Pte. Ltd., a Singapore-based open finance technology provider, launched its Integrated APAC Open Banking Compliance Solution. This API-driven platform helps banks across the Asia-Pacific region meet open banking requirements, featuring real-time eKYC verification through ADVANCE.AI, automated compliance with standards such as Indonesia’s BI-SNAP, and seamless integration into regulated financial workflows. The solution improves regulatory compliance efficiency, strengthens secure customer authentication, and supports faster deployment of open banking services.

In June 2025, Fabrick S.p.A., an Italy-based open finance and embedded payments platform provider, acquired finAPI for an undisclosed amount. With this acquisition, Fabrick aims to expand its open banking and digital payments capabilities across Europe by integrating finAPI’s advanced open banking APIs and data intelligence solutions into its ecosystem, enhancing market reach and accelerating product innovation. finAPI is a Germany-based open banking technology provider offering APIs for account information, payment initiation, and data intelligence services to banks, fintechs, and enterprise clients.

Major companies operating in the open banking market are Banco Santander S.A., BBVA SA, HSBC Bank plc, Barclays, NatWest Group plc, Lloyds Banking Group, ING, BNP Paribas, Citigroup, Capital One, DBS Bank, HDFC Bank, Axis Bank, Bank of Baroda, ING Bank, Bunq, Wise, Tinkoff Bank, WeBank, Ant Financial, Tarabut Gateway, Nordigen.

North America was the largest region in the open banking market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the open banking market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the open banking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The open banking market includes revenues earned by entities by account information service providers (AISPs) and payment initiation service providers (PISPs). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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