Market Insights

As per recent research by MarkNtel Advisors, The Global Open Banking Market size was valued at around USD 22.31 billion in 2023 and is estimated to grow at a CAGR of about 25.47% during the forecast period, i.e., 2024-30.

Global Open Banking Market Driver:

Surging Government Support to Augment the Market Growth – In an era of globalization, governments worldwide recognize the significance of fostering connections between their financial institutions & consumers and their international counterparts. This has led countries like the UK, Mexico, and the US to actively endorse the adoption of open banking services, simplifying cross-border financial transactions & enriching global trade relationships. Moreover, over the past decade, North American and European nations have taken a proactive stance in democratizing access to financial products & services.

Notably, the European Banking Authority introduced the Payment Services Directive Two (PSD2) in 2015, formally inaugurating the era of open banking. Subsequently, the UK's Competition and Markets Authority (CMA) issued progressive guidelines mandating banks to embrace open banking practices by 2018. These regulatory mandates compel banks to open up their closely held financial data to third-party providers, an initiative that has encouraged a growing number of entities to participate, further driving the Global Open Banking Market.

Request Free Sample Report: https://www.marknteladvisors.com/query/request-sample/open-banking-market.html

Market Segmentation and Consumer Behavior:

By Service

• Retail Banking
  • Aggregation & Financial Management - Market Size & Forecast 2019-2030F, USD Million
  • Credit Risk Decisioning- Market Size & Forecast 2019-2030F, USD Million
  • Payments- Market Size & Forecast 2019-2030F, USD Million
  • Origination & Onboarding- Market Size & Forecast 2019-2030F, USD Million
  • Others
• Corporate Banking
  • Corporate Treasury- Market Size & Forecast 2019-2030F, USD Million
  • Financial Management- Market Size & Forecast 2019-2030F, USD Million
  • Credit Decisioning- Market Size & Forecast 2019-2030F, USD Million
  • Payments- Market Size & Forecast 2019-2030F, USD Million
  • Value Added Services- Market Size & Forecast 2019-2030F, USD Million
  • Others
• Capital Markets
• Others

By Distribution Channel

• Bank Channel- Market Size & Forecast 2019-2030F, USD Million
• App Market- Market Size & Forecast 2019-2030F, USD Million
• Distributors- Market Size & Forecast 2019-2030F, USD Million
• Aggregators- Market Size & Forecast 2019-2030F, USD Million

By Deployment

• On-premise- Market Size & Forecast 2019-2030F, USD Million
• Cloud- Market Size & Forecast 2019-2030F, USD Million
• Hybrid- Market Size & Forecast 2019-2030F, USD Million

Read Full Report: https://www.marknteladvisors.com/research-library/open-banking-market.html

Open Banking Market Geographical Analysis:

By Region:

• North America
• South America
• Europe
• Middle East & Africa
• Asia Pacific

Key Players and Competitive Strategies in the Open Banking Market

Several prominent players dominate the Open Banking Market, including:

• F5 Solutions
• Finleap
• Financial Details
• Revolut Ltd
• Tink AB
• Salesforce, Inc.
• Worldline S.A.
• TATA Consultancy Services Limited
• Capgemini
• Oracle
• Finicity (Mastercard)
• Jack Henry & Associates, Inc.
• Finastra
• Global Payments
• Virtusa Corp.
• Plaid Inc.

Report Delivery - MarkNtel Advisors offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address.

Questions Addressed in this Study

1.What factors are driving the Open Banking Market growth?

2.How is the Open Banking Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Open Banking Market?

4.What is the current size of the Open Banking Market, and how is it projected to change in the future?

6.What is the future outlook for the Open Banking Market in terms of technological advancements and market expansion?

Request Customization - https://www.marknteladvisors.com/query/request-customization/open-banking-market.html

Read More:

• https://www.marknteladvisors.com/blogs/future-of-coronary-stents-market.html
• https://www.marknteladvisors.com/blogs/future-of-organic-coffee-market.html
• https://www.marknteladvisors.com/blogs/growth-potential-of-colorectal-cancer-market.html
• https://www.marknteladvisors.com/blogs/good-mattresses-enhances-human-health.html
• https://www.marknteladvisors.com/blogs/how-ductile-iron-pipes-are-part-modern-water-infrastructure.html

Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

For Media Inquiries, Please Contact:

Call: +1 628 895 8081 | +91 120 4278433

Email: sales@marknteladvisors.com

Sales Office: 564 Prospect St, B9, New Haven, Connecticut, USA-06511

Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India