Open Banking Solutions Market

Open Banking Solutions Market by Offering (Solutions, Services), Application (Payment, Banking, Digital Lending), Digital Channel (Mobile, Web), Deployment Model, End User (Account Providers, Third-party Providers) and Region - Global Forecast to 2028

Report Code: TC 8968 Mar, 2024, by marketsandmarkets.com

[316 Pages Report] The Open Banking Solutions Market size is projected to grow from USD 5.5 billion in 2023 to USD 11.7 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period. The impact of the recession (before, during, and after the recession) on the market is covered throughout the report. Banks and financial institutions are embracing digital transformation initiatives, adopting open banking to enhance customer experience and drive operational efficiency. Open banking enables international trade and transactions, addressing the requirements of both businesses and individuals (individual users) in the diverse and growing economies of the region.

Open Banking Solutions Market

To know about the assumptions considered for the study, Request for Free Sample Report

Open Banking Solutions Market Opportunities

To know about the assumptions considered for the study, download the pdf brochure

Recession Impact on the Global Open Banking Solutions Market

A recession can significantly impact the Open banking solutions market across organizations, industry verticals, and regions. Businesses may delay investments in these technologies as they prioritize cost-cutting over innovation. Startups in the field may struggle to secure funding as investors become more risk-averse. The demand for open banking solutions may increase during a recession as businesses seek more efficient financial management tools. However, the overall market growth might slow down due to reduced investment and consumer spending. Fintech companies offering open banking solutions may face challenges acquiring funding and retaining customers. Still, their services could be increasingly sought after by businesses looking to optimize their financial operations in challenging economic times. Government stimulus and investments in technology development can also help mitigate the recession's impact. In the end, the extent of the effect varies by region, industry, and the severity of the economic downturn.

Open Banking Solutions Market Dynamics

Drivers: There is a growing need to meet the compliance requirements of new data laws and regulations

Several Financial institutions must make significant changes to their business processes to meet new data privacy and regulation policies, such as the Second Payment Services Directive (PSD2) and open banking APIs. PSD2 enables banks to explore new business opportunities and transform digitally. Furthermore, PSD2 regulation enables third parties to access customer information to provide secured payment services. These regulations allow financial institutions to offer their customers innovative and competitive products and services in an open and secure environment. The regulations also provide a frictionless customer experience.

Restraints: Lack of digital literacy in emerging countries

Digital literacy is still lacking in many emerging nations, making it difficult for online and mobile payments to be widely accepted. This adversely affects the market expansion of Open Banking platforms and solutions. A wide range of abilities, including reading and comprehending technical information, are included in digital literacy. These abilities enable people to operate and utilize digital devices. Because most African nations have poor digital literacy rates, people cannot fully use the promise of digital technologies. Because there aren't many digital transactions, technology companies are likewise reluctant to make investments. Therefore, it is anticipated that the market for open banking solutions will grow more slowly in emerging nations due to low levels of digital literacy.

Opportunities: State-of-the-art innovation and improved personalization

Open banking unveils vast amounts (s) of financial data that can be leveraged to drive innovation and personalize financial services. By accessing real-time data from multiple sources, including bank accounts, credit cards, investments, financial institutions, and TPPs, they can develop innovative solutions tailored to individual consumer needs. These solutions may/can include personalized budgeting tools, automated savings plans, and customized investment recommendations. By harnessing open banking APIs, companies can offer more relevant and targeted financial products and services, enhancing the overall customer experience and increasing engagement and loyalty.

Challenges: Technical glitch leading to losses

Due to their reliance on digital platforms, banks are vulnerable to significant losses in the event of system failure or coding errors. Millions of dollars could be lost by a bank due to a single technological problem that shuts it down for the day. It can also create panic for bank customers who cannot make payments or conduct transactions when the site is down. A significant chunk of consumers now use a mobile banking app. So, it is vital not just for banks to have their online platforms running smoothly but also for their mobile apps. A loss of funds or data due to a crash can be very threatening for bank customers.

Open Banking Solutions Market Ecosystem

Top Companies in Open Banking Solutions Market

Based on the offering segment, Solutions will hold a larger market share in the Open banking solutions market during the forecast period.

Open Banking solutions include innovative tools and technologies designed to revolutionize the financial services industry by enabling secure data sharing, fostering collaboration between financial institutions, third-party providers, and consumers, and driving digital transformation. Payment initiation solutions allow businesses and consumers to initiate payments directly from their bank accounts, bypassing traditional payment methods and facilitating faster, more convenient transactions. Account information solutions aggregate and analyze comprehensive financial data from multiple sources, providing businesses with valuable insights for personalized marketing, risk assessment, and product development. API management solutions play a crucial role in facilitating seamless integration between different systems and enabling the development of innovative applications and services on top of existing platforms through open APIs. Identity verification and authentication solutions ensure secure access to financial data and services, leveraging advanced technologies to combat identity theft and fraud.

Based on solutions, the API management segment will record the highest CAGR in the Open banking solutions market during the forecast period.

API management solutions facilitate seamless integration, innovation, and collaboration across the financial ecosystem. As the gatekeeper between disparate systems and applications, API management solutions orchestrate data and transactions with precision and efficiency. These solutions provide developers, financial institutions, and third-party providers with standardized interfaces and protocols for accessing and exchanging financial data securely and transparently. API management solutions ensure compliance with regulatory requirements and protect sensitive information from unauthorized access or misuse by offering robust security measures, rate limiting, and access controls. Moreover, API management solutions foster innovation by enabling the rapid development and deployment of new financial products and services through open APIs, driving forward a future where interoperability and connectivity redefine the economic landscape.

Europe will hold the largest Open banking solutions market share during the forecast period.

The adoption of open banking solutions in the European region has gained considerable momentum, positioning the region at the forefront of the field/market. According to experts, Europe is expected to have the highest adoption rate of Open Banking solutions and associated services compared to other regions. This is due to the rising interest of European households in innovative, advanced technologies and the increasing investment of European companies in advanced technologies such as data integration, data visualization, middleware, API management, and blockchain, incorporated into/run by Open Banking solutions vendors and service providers.

Despite a continually evolving regulatory environment, Europe has witnessed significant economic growth in recent years. This growth can be attributed to the increasing expectations of businesses in the region to improve efficiency, save time, and reduce operating costs. As a result, several major US-based Open banking solutions market companies have expanded their operations in Europe, built up a solid clientele base, and established an overseas presence. Regional technology providers collaborate with global Open banking solutions market providers to stay competitive, retain existing customers, and attract new ones.

Europe Open Banking Solutions Market Size, and Share

Key market players

The Open banking solutions market is dominated both by established companies as well as startups such as Plaid (US), Envestnet (US), MX Technologies (US), Finicity (US), Tink (Sweden), Worldline (France), Trustly (Sweden), Axway Software (US), Volt.io (UK), Temenos (Switzerland). These vendors have a large customer base, a strong geographic footprint, and organized distribution channels. They incorporate organic and inorganic growth strategies, including product launches, deals, and business expansions, boosting revenue generation.

The study includes an in-depth competitive analysis of these critical Open banking solutions market players with their company profiles, recent developments, and key market strategies.

Get online access to the report on the World's First Market Intelligence Cloud

  • Easy to Download Historical Data & Forecast Numbers
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
Request Sample

Scope of the Report

Report Metrics

Details

Market size available for years

2019-2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Billion)

Segments Covered

Offering, Solutions, Services, Application, Digital channel, Deployment Model, and End users

Regions covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Plaid (US), Envestnet (US), MX technologies (US), Finicity (US), Tink (Sweden), Worldline (France), Trustly (Sweden), Axway software (US), Volt.io (UK), Temenos (Switzerland), Fabrick (Italy), Intuit (US), ndgit (Germany), Akana (US), Yapily (UK), Salt Edge (Canada), Token.io (Germany), Fiorano (US), TrueLayer (UK), Bud Financial (UK), OpenPayd (UK), Finastra (UK), Google (US), Sopra Banking software (France), BBVA (Spain)

This research report categorizes the Open banking solutions market to forecast revenue and analyze trends in each of the following submarkets:

Based on Offering:
  • Solutions
    • Payment initiation
    • Account information
    • Identity verification & authentication
    • API management
    • Other Solutions
  • Services
    • Professional services
    • Managed services
Based on Application:
Based on Deployment model:
  • On-premises
  • Cloud
Based on Digital channel:
  • Web portals
  • Mobile apps
Based on End users:
  • Third-party providers (TPPs)
  • Account providers
Based on Region:
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent Developments

  • In February 2024, MX Technologies partnered with Trustly, intending to integrate MX's data enhancement services into Trustly's Open Banking product suite, thereby enriching the payment experiences of 8,300+ international merchants and their consumers who utilize Trustly's 'Pay with Bank' method. Using its proficiency in open finance APIs, Trustly will assist businesses in maximizing the potential of their financial data. Merchants can delve deeper into consumer behaviors by refining and categorizing transaction data, obtaining more accurate insights. This service empowers merchants to deliver personalized marketing promotions and loyalty programs, enriching the consumer journey and nurturing stronger bonds between merchants and their clientele.
  • In January 2024, Risk Signals was launched by Tink, which conducts real-time risk checks during the payment process. Risk Signals provides a quick assessment of transactions in seconds while the payer progresses through the payment process, resulting in less disruption to the user experience. Risk Signals formulates a suite of demonstrated risk checks for each bank and market based on Tink's pan-European bank connectivity. Risk Signals' key features are live balances for real-time verification of a user's ability to pay, transaction history to assess fraud risk, and velocity checks to mark suspicious transaction activities.
  • In October 2023, Plaid entered into a deal with Fiserv to enable secure and reliable data sharing through APIs while addressing growing consumer demand to access their financial information according to their suitable time, location, and manner. With this deal, consumers who bank with nearly 3,000 bank and credit union clients hosted by Fiserv will now have secure, credential-less API-based connectivity to more than 8,000 applications and services on the Plaid network via Fiserv's AllData Connect, allowing consumers to share their financial information with the third-party financial apps and services of their choice.
  • In October 2023, Envestnet launched its embedded investment solution to provide a digitalized process for banks, credit unions, and financial advisors that will offer investing solutions within their (the banks, credit union entities) own apps and websites to customers within their existing banking experience. The service, consisting of diversified portfolios invested in exchange-traded funds (ETFs) and optional thematic stocks, enables financial institutions to retain deposits within their ecosystem and serve smaller account sizes digitally.
  • In June 2023, Financial institutions and fintech firms can now exchange vital fraud intelligence across Plaid thanks to the launch of Beacon by Plaid, a cooperative anti-fraud network.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 43)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
    1.4 YEARS CONSIDERED 
    1.5 CURRENCY CONSIDERED 
           TABLE 1 USD EXCHANGE RATES, 2019–2022
    1.6 STAKEHOLDERS 
    1.7 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 49)
    2.1 RESEARCH APPROACH 
           FIGURE 1 OPEN BANKING SOLUTIONS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakup of primary interviews
                    2.1.2.2 Key industry insights
    2.2 MARKET BREAKUP AND DATA TRIANGULATION 
           FIGURE 2 OPEN BANKING SOLUTIONS MARKET: MARKET BREAKUP AND DATA TRIANGULATION
    2.3 MARKET SIZE ESTIMATION 
           FIGURE 3 MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
           2.3.1 TOP-DOWN APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.3.2 BOTTOM-UP APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
                    FIGURE 6 MARKET: RESEARCH FLOW
           2.3.3 MARKET SIZE ESTIMATION APPROACHES
                    FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
                    FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1, BOTTOM-UP (SUPPLY SIDE)– COLLECTIVE REVENUE GENERATED FROM VENDORS
                    FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2, SUPPLY-SIDE ANALYSIS
                    FIGURE 10 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3, TOP-DOWN  (DEMAND SIDE)
    2.4 MARKET FORECAST 
           TABLE 2 FACTOR ANALYSIS
    2.5 IMPACT OF RECESSION ON MARKET 
    2.6 RESEARCH ASSUMPTIONS 
    2.7 STUDY LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 64)
    3.1 OVERVIEW OF RECESSION IMPACT 
           FIGURE 11 SEGMENTS WITH SIGNIFICANT GROWTH RATES
           FIGURE 12 MARKET: REGIONAL SNAPSHOT
 
4 PREMIUM INSIGHTS (Page No. - 68)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN MARKET 
           FIGURE 13 COMPLIANCE WITH REGULATORY STANDARDS, BOTH REGIONAL AND GLOBAL, TO SUPPORT GROWTH OF MARKET
    4.2 OPEN BANKING SOLUTIONS MARKET, BY OFFERING 
           FIGURE 14 SOLUTIONS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
    4.3 MARKET, BY SOLUTION 
           FIGURE 15 PAYMENT INITIATION SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.4 MARKET, BY SERVICE 
           FIGURE 16 PROFESSIONAL SERVICES SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
    4.5 MARKET, BY APPLICATION 
           FIGURE 17 PAYMENT SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.6 MARKET, BY DIGITAL CHANNEL 
           FIGURE 18 WEB PORTALS SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
    4.7 MARKET, BY END USER 
           FIGURE 19 THIRD-PARTY PROVIDERS SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
    4.8 MARKET: REGIONAL SCENARIO 
           FIGURE 20 MIDDLE EAST & AFRICA TO EMERGE AS LUCRATIVE MARKET FOR INVESTMENTS IN NEXT FIVE YEARS
 
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 72)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 21 OPEN BANKING SOLUTIONS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increased consumer demand and adoption of cloud-based solutions by financial institutions
                    5.2.1.2 Increasing compliance requirements of new data laws and regulations
                    5.2.1.3 Need for greater visibility and options for borrowers and lenders
                    5.2.1.4 Focus on development of innovative product offerings with evolving consumer requirements
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of digital literacy in certain emerging countries
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Gradual adoption of open-banking APIs
                    5.2.3.2 Growing demand for state-of-the-art innovations and improved personalization
                    5.2.3.3 Emphasis on better collaboration and partnership among key players
           5.2.4 CHALLENGES
                    5.2.4.1 Data privacy issues, security concerns, and threat of ransomware
                    5.2.4.2 Technical glitches leading to losses
    5.3 CASE STUDY ANALYSIS 
           5.3.1 ZIP ACHIEVED COST REDUCTION AND IMPROVED COMPLIANCE ADHERENCE WITH PLAID MONITOR
           5.3.2 CLEO ADOPTED STRIPE SOLUTIONS TO MITIGATE FRAUD OCCURRENCES
           5.3.3 ANNA DEPLOYED OPTIMIZED TRANSACTION MODULE WITH HELP OF TRUELAYER API
           5.3.4 MONEYWIZ ADOPTED SALT EDGE TOOLS FOR AUTOMATED DATA EXTRACTION AND TRANSFORMATION
           5.3.5 BNP PARIBAS DEPLOYED AMPLIFY CATALOG TO PROVIDE API GATEWAYS ACROSS BUSINESSES
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 22 ECOSYSTEM MAPPING
    5.5 VALUE CHAIN ANALYSIS 
           5.5.1 DATA PROVIDERS
           5.5.2 DATA AGGREGATORS
           5.5.3 API PROVIDERS
           5.5.4 OPEN BANKING PLATFORM PROVIDERS
           5.5.5 IMPLEMENTATION AND INTEGRATION
           5.5.6 END USERS
                    FIGURE 23 VALUE CHAIN ANALYSIS
    5.6 TECHNOLOGY ANALYSIS 
           5.6.1 KEY TECHNOLOGIES
                    5.6.1.1 APIS
                               5.6.1.1.1 Data APIs
                               5.6.1.1.2 Transaction APIs
                               5.6.1.1.3 Product APIs
                    5.6.1.2 Security
                               5.6.1.2.1 Encryption
                               5.6.1.2.2 Biometrics
                               5.6.1.2.3 Fraud detection
    5.7 COMPLEMENTARY TECHNOLOGIES 
           5.7.1 DATA ANALYTICS
           5.7.2 ARTIFICIAL INTELLIGENCE & MACHINE LEARNING
    5.8 ADJACENT TECHNOLOGIES 
           5.8.1 BLOCKCHAIN & DISTRIBUTED LEDGER TECHNOLOGY (DLT)
           5.8.2 INTERNET OF THINGS (IOT)
    5.9 PRICING ANALYSIS 
           5.9.1 INDICATIVE PRICING ANALYSIS
                    TABLE 3 INDICATIVE PRICING ANALYSIS OF OPEN BANKING SOLUTIONS MARKET, BY KEY PLAYER
                    5.9.1.1 AVERAGE SELLING PRICE TREND
    5.10 INVESTMENT LANDSCAPE 
           FIGURE 24 LEADING MAJOR MARKET VENDORS, BY NUMBER OF INVESTORS AND FUNDING ROUNDS, 2023
    5.11 BUSINESS MODEL ANALYSIS 
           5.11.1 API INFRASTRUCTURE
           5.11.2 DATA ACCESS AND AGGREGATION
           5.11.3 SECURITY AND COMPLIANCE
           5.11.4 MONETIZATION STRATEGY
                    5.11.4.1 Subscription-based models
                    5.11.4.2 Cloud-based and usage-based pricing
           5.11.5 PARTNERSHIPS AND COLLABORATIONS
    5.12 PATENT ANALYSIS 
                    FIGURE 25 NUMBER OF PATENTS PUBLISHED, 2012–2023
                    FIGURE 26 GLOBAL TOP FIVE PATENT OWNERS, 2023
                    TABLE 4 GLOBAL TOP TEN PATENT OWNERS, 2023
    5.13 PORTER'S FIVE FORCES ANALYSIS 
                    FIGURE 27 PORTER'S FIVE FORCES ANALYSIS
                    TABLE 5 OPEN BANKING SOLUTIONS MARKET: IMPACT OF PORTER'S FIVE FORCES
           5.13.1 THREAT OF NEW ENTRANTS
           5.13.2 THREAT OF SUBSTITUTES
           5.13.3 BARGAINING POWER OF SUPPLIERS
           5.13.4 BARGAINING POWER OF BUYERS
           5.13.5 INTENSITY OF COMPETITIVE RIVALRY
    5.14 REGULATORY IMPLICATIONS AND INDUSTRY STANDARDS 
           5.14.1 PAYMENT SERVICES DIRECTIVE 2 (PSD2)
           5.14.2 GENERAL DATA PROTECTION REGULATION (GDPR)
           5.14.3 COMPETITION AND MARKETS AUTHORITY (CMA) ORDER
           5.14.4 CALIFORNIA CONSUMER PRIVACY ACT (CCPA)
           5.14.5 CONSUMER DATA RIGHT ACT (CDR)
           5.14.6 FINTECH LAW
           5.14.7 REGULATORY LANDSCAPE
                    TABLE 6 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 7 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 8 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 9 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND  OTHER ORGANIZATIONS
    5.15 KEY CONFERENCES AND EVENTS 
                    TABLE 10 KEY CONFERENCES AND EVENTS, 2024–2025
    5.16 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
                    FIGURE 28 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN OPEN BANKING SOLUTIONS MARKET
    5.17 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.17.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR END USERS
                    TABLE 11 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR END USERS
           5.17.2 BUYING CRITERIA
                    FIGURE 30 KEY BUYING CRITERIA FOR END USERS
                    TABLE 12 KEY BUYING CRITERIA FOR END USERS
 
6 OPEN BANKING SOLUTIONS MARKET, BY OFFERING (Page No. - 102)
    6.1 INTRODUCTION 
           6.1.1 OFFERINGS: MARKET DRIVERS
                    FIGURE 31 SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 13 MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                    TABLE 14 MARKET, BY OFFERING, 2023–2028 (USD MILLION)
    6.2 SOLUTIONS 
           FIGURE 32 API MANAGEMENT SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 15 MARKET, BY SOLUTION, 2019–2022 (USD MILLION)
           TABLE 16 MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
           TABLE 17 SOLUTIONS: MARKET, BY REGION,  2019–2022 (USD MILLION)
           TABLE 18 SOLUTIONS: MARKET, BY REGION,  2023–2028 (USD MILLION)
           6.2.1 PAYMENT INITIATION
                    6.2.1.1 Increased demand for frictionless transactions and real-time payments to drive segment
                               TABLE 19 PAYMENT INITIATION: OPEN BANKING SOLUTIONS MARKET, BY REGION,  2019–2022 (USD MILLION)
                               TABLE 20 PAYMENT INITIATION: MARKET, BY REGION,  2023–2028 (USD MILLION)
                    6.2.1.2 Account-to-account (A2A) payments
                    6.2.1.3 Bulk payment processing
                    6.2.1.4 Variable recurring payments
                    6.2.1.5 Payment request
                    6.2.1.6 Invoice generation & management
           6.2.2 ACCOUNT INFORMATION
                    6.2.2.1 Increased consumer demand for personalized financial services and insights to propel segment
                               TABLE 21 ACCOUNT INFORMATION: OPEN BANKING SOLUTIONS MARKET, BY REGION,  2019–2022 (USD MILLION)
                               TABLE 22 ACCOUNT INFORMATION: MARKET, BY REGION,  2023–2028 (USD MILLION)
                    6.2.2.2 Account aggregation
                    6.2.2.3 Investment portfolio aggregation
                    6.2.2.4 Transaction categorization
                    6.2.2.5 Budgeting & expense tracking
                    6.2.2.6 Real-time balance check
           6.2.3 IDENTITY VERIFICATION & AUTHENTICATION
                    6.2.3.1 Escalating cybersecurity threats and regulatory compliance requirements to drive segment
                               TABLE 23 IDENTITY VERIFICATION & AUTHENTICATION: OPEN BANKING SOLUTIONS MARKET,  BY REGION, 2019–2022 (USD MILLION)
                               TABLE 24 IDENTITY VERIFICATION & AUTHENTICATION: MARKET,  BY REGION, 2023–2028 (USD MILLION)
                    6.2.3.2 Optical character recognition verification
                    6.2.3.3 Biometric authentication
                    6.2.3.4 Knowledge-based authentication
                    6.2.3.5 Know-your-customer verification
                    6.2.3.6 Anti-money laundering (AML)
           6.2.4 API MANAGEMENT
                    6.2.4.1 Need for seamless integration, collaboration, and innovation in financial ecosystem to propel segment
                               TABLE 25 API MANAGEMENT: MARKET, BY REGION,  2019–2022 (USD MILLION)
                               TABLE 26 API MANAGEMENT: MARKET, BY REGION,  2023–2028 (USD MILLION)
                    6.2.4.2 API design & development
                    6.2.4.3 API gateway & security
                    6.2.4.4 API lifecycle management
                    6.2.4.5 API analytics & monitoring
                    6.2.4.6 Compliance & governance
           6.2.5 OTHER SOLUTIONS
                    TABLE 27 OTHER SOLUTIONS: OPEN BANKING SOLUTIONS MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 28 OTHER SOLUTIONS: MARKET, BY REGION,  2023–2028 (USD MILLION)
    6.3 SERVICES 
           FIGURE 33 MANAGED SERVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 29 OPEN BANKING SOLUTIONS MARKET, BY SERVICE, 2019–2022 (USD MILLION)
           TABLE 30 MARKET, BY SERVICE, 2023–2028 (USD MILLION)
           TABLE 31 SERVICES: MARKET, BY REGION,  2019–2022 (USD MILLION)
           TABLE 32 SERVICES: MARKET, BY REGION,  2023–2028 (USD MILLION)
           6.3.1 PROFESSIONAL SERVICES
                    6.3.1.1 Enhanced open banking potential through proper implementation and compliance to propel segment
                               TABLE 33 PROFESSIONAL SERVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 34 PROFESSIONAL SERVICES: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    6.3.1.2 Consulting & advisory
                               6.3.1.2.1 Strategic planning & development
                               6.3.1.2.2 Regulatory compliance guidance
                               6.3.1.2.3 Business process optimization
                    6.3.1.3 Implementation & integration
                               6.3.1.3.1 API integration & deployment
                               6.3.1.3.2 Data migration & conversion
                               6.3.1.3.3 Customization & configuration
                    6.3.1.4 Training & education
                               6.3.1.4.1 Developer training
                               6.3.1.4.2 Staff training
                               6.3.1.4.3 Educational workshops & seminars
           6.3.2 MANAGED SERVICES
                    6.3.2.1 Rise in need for streamlined business operations and enhanced system performance to propel segment
                               TABLE 35 MANAGED SERVICES: MARKET, BY REGION,  2019–2022 (USD MILLION)
                               TABLE 36 MANAGED SERVICES: OPEN BANKING SOLUTIONS MARKET, BY REGION,  2023–2028 (USD MILLION)
                    6.3.2.2 Support & maintenance
                               6.3.2.2.1 Helpdesk support
                               6.3.2.2.2 Incident management
                               6.3.2.2.3 System maintenance & updates
                    6.3.2.3 Performance monitoring & optimization
                               6.3.2.3.1 System performance monitoring
                               6.3.2.3.2 Performance tuning & optimization
                               6.3.2.3.3 Capacity planning
                    6.3.2.4 Vendor selection & procurement
                               6.3.2.4.1 Vendor evaluation & selection
                               6.3.2.4.2 Contract negotiation & management
                               6.3.2.4.3 Vendor relationship management
 
7 OPEN BANKING SOLUTIONS MARKET, BY APPLICATION (Page No. - 127)
    7.1 INTRODUCTION 
           7.1.1 APPLICATIONS: MARKET DRIVERS
                    FIGURE 34 WEALTH MANAGEMENT SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 37 MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 38 MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
    7.2 PAYMENT 
           7.2.1 GROWING REQUIREMENT FOR ENHANCED TRANSPARENCY IN FINANCIAL TRANSACTIONS TO FUEL SEGMENT
                    TABLE 39 PAYMENT: MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 40 PAYMENT: OPEN BANKING SOLUTIONS MARKET, BY REGION,  2023–2028 (USD MILLION)
           7.2.2 PAYMENT PROCESSING
           7.2.3 MOBILE WALLETS
           7.2.4 CROSS-BORDER PAYMENTS
           7.2.5 PAYMENT GATEWAYS
           7.2.6 OTHER PAYMENT APPLICATIONS
    7.3 BANKING 
           7.3.1 RISE IN DEMAND FOR QUICK AND SECURE CUSTOMER ONBOARDING TO DRIVE SEGMENT
                    TABLE 41 BANKING: MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 42 BANKING: OPEN BANKING SOLUTIONS MARKET, BY REGION,  2023–2028 (USD MILLION)
           7.3.2 DIGITAL BANKING
           7.3.3 ACCOUNT SWITCHING
           7.3.4 PERSONAL FINANCE MANAGEMENT
           7.3.5 LOAN MANAGEMENT
           7.3.6 OTHER BANKING APPLICATIONS
    7.4 DIGITAL LENDING 
           7.4.1 GROWING NEED FOR ACCURATE RISK ASSESSMENT AND FASTER LOAN APPROVALS TO PROPEL SEGMENT
                    TABLE 43 DIGITAL LENDING: OPEN BANKING SOLUTIONS MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 44 DIGITAL LENDING: MARKET, BY REGION,  2023–2028 (USD MILLION)
           7.4.2 ONLINE LOAN ORIGINATION
           7.4.3 PEER-TO-PEER LENDING
           7.4.4 AUTOMATED LOAN UNDERWRITING
           7.4.5 CREDIT SCORING
           7.4.6 OTHER DIGITAL LENDING APPLICATIONS
    7.5 WEALTH MANAGEMENT 
           7.5.1 RISING DEMAND FOR PERSONALIZED INVESTMENT STRATEGIES AND ENHANCED RISK TOLERANCE TO FUEL SEGMENT GROWTH
                    TABLE 45 WEALTH MANAGEMENT: MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 46 WEALTH MANAGEMENT: MARKET, BY REGION,  2023–2028 (USD MILLION)
           7.5.2 INVESTMENT PORTFOLIO MANAGEMENT
           7.5.3 ROBO-ADVISORY
           7.5.4 GOAL-BASED INVESTMENT
           7.5.5 TAX OPTIMIZATION
           7.5.6 OTHER WEALTH MANAGEMENT APPLICATIONS
    7.6 OTHER APPLICATIONS 
           TABLE 47 OTHER APPLICATIONS: MARKET, BY REGION,  2019–2022 (USD MILLION)
           TABLE 48 OTHER APPLICATIONS: MARKET, BY REGION,  2023–2028 (USD MILLION)
 
8 OPEN BANKING SOLUTIONS MARKET, BY DEPLOYMENT MODEL (Page No. - 140)
    8.1 INTRODUCTION 
           8.1.1 DEPLOYMENT MODELS: MARKET DRIVERS
                    FIGURE 35 CLOUD SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 49 MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                    TABLE 50 MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
    8.2 CLOUD 
           8.2.1 NEED FOR SEAMLESS CONNECTIVITY BETWEEN BANKS, THIRD-PARTY PROVIDERS, AND CONSUMERS TO FUEL SEGMENT
                    TABLE 51 CLOUD: MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 52 CLOUD: MARKET, BY REGION,  2023–2028 (USD MILLION)
    8.3 ON-PREMISES 
           8.3.1 REQUIREMENT FOR INCREASED CONTROL OVER DATA TO PROPEL SEGMENT
                    TABLE 53 ON-PREMISES: MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 54 ON-PREMISES: MARKET, BY REGION,  2023–2028 (USD MILLION)
 
9 OPEN BANKING SOLUTIONS MARKET, BY DIGITAL CHANNEL (Page No. - 145)
    9.1 INTRODUCTION 
           9.1.1 DIGITAL CHANNELS: MARKET DRIVERS
                    FIGURE 36 MOBILE APPS SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 55 OPEN BANKING SOLUTIONS MARKET, BY DIGITAL CHANNEL,  2019–2022 (USD MILLION)
                    TABLE 56 MARKET, BY DIGITAL CHANNEL,  2023–2028 (USD MILLION)
    9.2 MOBILE APPS 
           9.2.1 FOCUS ON AUGMENTED CONVENIENCE AND ACCESSIBILITY TO DRIVE SEGMENT
                    TABLE 57 MOBILE APPS: MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 58 MOBILE APPS: MARKET, BY REGION,  2023–2028 (USD MILLION)
    9.3 WEB PORTALS 
           9.3.1 DEMAND FOR CONVENIENT AND SECURE ACCESS TO FINANCES TO BOOST SEGMENT
                    TABLE 59 WEB PORTALS: MARKET, BY REGION,  2019–2022 (USD MILLION)
                    TABLE 60 WEB PORTALS: MARKET, BY REGION,  2023–2028 (USD MILLION)
 
10 OPEN BANKING SOLUTIONS MARKET, BY END USER (Page No. - 150)
     10.1 INTRODUCTION 
             10.1.1 END USERS: MARKET DRIVERS
                       FIGURE 37 THIRD-PARTY PROVIDERS SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
                       TABLE 61 MARKET, BY END USER, 2019–2022 (USD MILLION)
                       TABLE 62 MARKET, BY END USER, 2023–2028 (USD MILLION)
     10.2 THIRD-PARTY PROVIDERS 
             10.2.1 NEED FOR ACCESS TO WIDE RANGE OF SERVICES TO BOOST SEGMENT
                       TABLE 63 THIRD-PARTY PROVIDERS: OPEN BANKING SOLUTIONS MARKET, BY REGION,  2019–2022 (USD MILLION)
                       TABLE 64 THIRD-PARTY PROVIDERS: MARKET, BY REGION,  2023–2028 (USD MILLION)
             10.2.2 ACCOUNT INFORMATION SERVICE PROVIDER
             10.2.3 PAYMENT INITIATION SERVICE PROVIDER
     10.3 ACCOUNT PROVIDERS 
             10.3.1 INCREASED DEMAND FOR SEAMLESS PAYMENT INITIATION TO DRIVE SEGMENT
                       TABLE 65 ACCOUNT PROVIDERS: MARKET, BY REGION,  2019–2022 (USD MILLION)
                       TABLE 66 ACCOUNT PROVIDERS: MARKET, BY REGION,  2023–2028 (USD MILLION)
             10.3.2 TRADITIONAL BANKS
                       10.3.2.1 Retail banks
                       10.3.2.2 Commercial banks
             10.3.3 DIGITAL BANKS
             10.3.4 INVESTMENT BANKS
 
11 OPEN BANKING SOLUTIONS MARKET, BY REGION (Page No. - 156)
     11.1 INTRODUCTION 
               FIGURE 38 MIDDLE EAST & AFRICA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
               TABLE 67 OPEN BANKING SOLUTIONS MARKET, BY REGION, 2019–2022 (USD MILLION)
               TABLE 68 MARKET, BY REGION, 2023–2028 (USD MILLION)
     11.2 NORTH AMERICA 
             11.2.1 NORTH AMERICA: MARKET DRIVERS
             11.2.2 NORTH AMERICA: RECESSION IMPACT
                       FIGURE 39 NORTH AMERICA: OPEN BANKING SOLUTIONS MARKET SNAPSHOT
                       TABLE 69 NORTH AMERICA: MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 70 NORTH AMERICA: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 71 NORTH AMERICA: MARKET, BY SOLUTION,  2019–2022 (USD MILLION)
                       TABLE 72 NORTH AMERICA: MARKET, BY SOLUTION,  2023–2028 (USD MILLION)
                       TABLE 73 NORTH AMERICA: MARKET, BY SERVICE,  2019–2022 (USD MILLION)
                       TABLE 74 NORTH AMERICA: MARKET, BY SERVICE,  2023–2028 (USD MILLION)
                       TABLE 75 NORTH AMERICA: MARKET, BY APPLICATION,  2019–2022 (USD MILLION)
                       TABLE 76 NORTH AMERICA: MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                       TABLE 77 NORTH AMERICA: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                       TABLE 78 NORTH AMERICA: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
                       TABLE 79 NORTH AMERICA: MARKET, BY DIGITAL CHANNEL,  2019–2022 (USD MILLION)
                       TABLE 80 NORTH AMERICA: MARKET, BY DIGITAL CHANNEL,  2023–2028 (USD MILLION)
                       TABLE 81 NORTH AMERICA: MARKET, BY END USER,  2019–2022 (USD MILLION)
                       TABLE 82 NORTH AMERICA: MARKET, BY END USER,  2023–2028 (USD MILLION)
                       TABLE 83 NORTH AMERICA: MARKET, BY COUNTRY,  2019–2022 (USD MILLION)
                       TABLE 84 NORTH AMERICA: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             11.2.3 US
                       11.2.3.1 Surge in demand for effective implementation of solutions to drive market
                                   TABLE 85 US: OPEN BANKING SOLUTIONS MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 86 US: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 87 US: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 88 US: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.2.4 CANADA
                       11.2.4.1 Need for cloud-based platforms and on-demand services to propel market
                                   TABLE 89 CANADA: MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                                   TABLE 90 CANADA: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                                   TABLE 91 CANADA: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 92 CANADA: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
     11.3 EUROPE 
             11.3.1 EUROPE: OPEN BANKING SOLUTIONS MARKET DRIVERS
             11.3.2 EUROPE: RECESSION IMPACT
                       TABLE 93 EUROPE: MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 94 EUROPE: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 95 EUROPE: MARKET, BY SOLUTION,  2019–2022 (USD MILLION)
                       TABLE 96 EUROPE: MARKET, BY SOLUTION,  2023–2028 (USD MILLION)
                       TABLE 97 EUROPE: MARKET, BY SERVICE,  2019–2022 (USD MILLION)
                       TABLE 98 EUROPE: MARKET, BY SERVICE,  2023–2028 (USD MILLION)
                       TABLE 99 EUROPE: MARKET, BY APPLICATION,  2019–2022 (USD MILLION)
                       TABLE 100 EUROPE: MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                       TABLE 101 EUROPE: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                       TABLE 102 EUROPE: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
                       TABLE 103 EUROPE: MARKET, BY DIGITAL CHANNEL,  2019–2022 (USD MILLION)
                       TABLE 104 EUROPE: MARKET, BY DIGITAL CHANNEL,  2023–2028 (USD MILLION)
                       TABLE 105 EUROPE: OPEN BANKING SOLUTIONS MARKET, BY END USER,  2019–2022 (USD MILLION)
                       TABLE 106 EUROPE: MARKET, BY END USER,  2023–2028 (USD MILLION)
                       TABLE 107 EUROPE: MARKET, BY COUNTRY,  2019–2022 (USD MILLION)
                       TABLE 108 EUROPE: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             11.3.3 UK
                       11.3.3.1 Rise in demand for innovative solutions that help leverage competition to drive market
                                   TABLE 109 UK: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 110 UK: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 111 UK: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 112 UK: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.3.4 GERMANY
                       11.3.4.1 Increased demand for transparent and convenient financial services to propel market
                                   TABLE 113 GERMANY: OPEN BANKING SOLUTIONS MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                                   TABLE 114 GERMANY: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                                   TABLE 115 GERMANY: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 116 GERMANY: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.3.5 FRANCE
                       11.3.5.1 Robust regulatory policies and technological innovations to drive market
                                   TABLE 117 FRANCE: MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                                   TABLE 118 FRANCE: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                                   TABLE 119 FRANCE: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 120 FRANCE: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.3.6 ITALY
                       11.3.6.1 Rise in demand for flexible and scalable solutions from banks to boost market
                                   TABLE 121 ITALY: OPEN BANKING SOLUTIONS MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 122 ITALY: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 123 ITALY: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 124 ITALY: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.3.7 REST OF EUROPE
                       TABLE 125 REST OF EUROPE: OPEN BANKING SOLUTIONS MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 126 REST OF EUROPE: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 127 REST OF EUROPE: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                       TABLE 128 REST OF EUROPE: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
     11.4 ASIA PACIFIC 
             11.4.1 ASIA PACIFIC: MARKET DRIVERS
             11.4.2 ASIA PACIFIC: RECESSION IMPACT
                       FIGURE 40 ASIA PACIFIC: MARKET SNAPSHOT
                       TABLE 129 ASIA PACIFIC: OPEN BANKING SOLUTIONS MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 130 ASIA PACIFIC: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 131 ASIA PACIFIC: MARKET, BY SOLUTION,  2019–2022 (USD MILLION)
                       TABLE 132 ASIA PACIFIC: MARKET, BY SOLUTION,  2023–2028 (USD MILLION)
                       TABLE 133 ASIA PACIFIC: MARKET, BY SERVICE,  2019–2022 (USD MILLION)
                       TABLE 134 ASIA PACIFIC: MARKET, BY SERVICE,  2023–2028 (USD MILLION)
                       TABLE 135 ASIA PACIFIC: MARKET, BY APPLICATION,  2019–2022 (USD MILLION)
                       TABLE 136 ASIA PACIFIC: MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                       TABLE 137 ASIA PACIFIC: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                       TABLE 138 ASIA PACIFIC: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
                       TABLE 139 ASIA PACIFIC: MARKET, BY DIGITAL CHANNEL,  2019–2022 (USD MILLION)
                       TABLE 140 ASIA PACIFIC: MARKET, BY DIGITAL CHANNEL,  2023–2028 (USD MILLION)
                       TABLE 141 ASIA PACIFIC: MARKET, BY END USER,  2019–2022 (USD MILLION)
                       TABLE 142 ASIA PACIFIC: MARKET, BY END USER,  2023–2028 (USD MILLION)
                       TABLE 143 ASIA PACIFIC: MARKET, BY COUNTRY,  2019–2022 (USD MILLION)
                       TABLE 144 ASIA PACIFIC: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             11.4.3 CHINA
                       11.4.3.1 FinTech giants leveraging their technological capabilities drive market
                                   TABLE 145 CHINA: OPEN BANKING SOLUTIONS MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 146 CHINA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 147 CHINA: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 148 CHINA: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.4.4 JAPAN
                       11.4.4.1 Introduction of innovative financial products and services to propel market
                                   TABLE 149 JAPAN: OPEN BANKING SOLUTIONS MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 150 JAPAN: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 151 JAPAN: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 152 JAPAN: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.4.5 INDIA
                       11.4.5.1 Growing popularity and adoption of UPI products to boost market
                                   TABLE 153 INDIA: OPEN BANKING SOLUTIONS MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 154 INDIA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 155 INDIA: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 156 INDIA: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.4.6 REST OF ASIA PACIFIC
                       TABLE 157 REST OF ASIA PACIFIC: OPEN BANKING SOLUTIONS MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 158 REST OF ASIA PACIFIC: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 159 REST OF ASIA PACIFIC: MARKET, BY DEPLOYMENT MODEL, 2019–2022 (USD MILLION)
                       TABLE 160 REST OF ASIA PACIFIC: MARKET, BY DEPLOYMENT MODEL, 2023–2028 (USD MILLION)
     11.5 MIDDLE EAST & AFRICA 
             11.5.1 MIDDLE EAST & AFRICA: OPEN BANKING SOLUTIONS MARKET DRIVERS
             11.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT
                       TABLE 161 MIDDLE EAST & AFRICA: OPEN BANKING SOLUTIONS MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 162 MIDDLE EAST & AFRICA: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 163 MIDDLE EAST & AFRICA: MARKET, BY SOLUTION,  2019–2022 (USD MILLION)
                       TABLE 164 MIDDLE EAST & AFRICA: MARKET, BY SOLUTION,  2023–2028 (USD MILLION)
                       TABLE 165 MIDDLE EAST & AFRICA: MARKET, BY SERVICE,  2019–2022 (USD MILLION)
                       TABLE 166 MIDDLE EAST & AFRICA: MARKET, BY SERVICE,  2023–2028 (USD MILLION)
                       TABLE 167 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION,  2019–2022 (USD MILLION)
                       TABLE 168 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                       TABLE 169 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                       TABLE 170 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
                       TABLE 171 MIDDLE EAST & AFRICA: MARKET, BY DIGITAL CHANNEL,  2019–2022 (USD MILLION)
                       TABLE 172 MIDDLE EAST & AFRICA: MARKET, BY DIGITAL CHANNEL,  2023–2028 (USD MILLION)
                       TABLE 173 MIDDLE EAST & AFRICA: MARKET, BY END USER,  2019–2022 (USD MILLION)
                       TABLE 174 MIDDLE EAST & AFRICA: MARKET, BY END USER,  2023–2028 (USD MILLION)
                       TABLE 175 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2019–2022 (USD MILLION)
                       TABLE 176 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             11.5.3 GCC COUNTRIES
                       TABLE 177 GCC COUNTRIES: OPEN BANKING SOLUTIONS MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 178 GCC COUNTRIES: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 179 GCC COUNTRIES: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                       TABLE 180 GCC COUNTRIES: MARKET, BY DEPLOYMENT MODEL, 2023–2028 (USD MILLION)
                       TABLE 181 GCC COUNTRIES: MARKET, BY COUNTRY,  2019–2022 (USD MILLION)
                       TABLE 182 GCC COUNTRIES: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
                       11.5.3.1 Kingdom of Saudi Arabia
                                   11.5.3.1.1 Saudi Vision 2030 initiatives to boost demand for advanced technologies and support market
                       11.5.3.2 UAE
                                   11.5.3.2.1 Emergence of FinTech platforms and innovative government initiatives to drive market
                       11.5.3.3 Other GCC Countries
             11.5.4 SOUTH AFRICA
                       11.5.4.1 Rise in adoption of mobile technologies to contribute to market growth
                                   TABLE 183 SOUTH AFRICA: OPEN BANKING SOLUTIONS MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                                   TABLE 184 SOUTH AFRICA: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                                   TABLE 185 SOUTH AFRICA: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 186 SOUTH AFRICA: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.5.5 REST OF MIDDLE EAST & AFRICA
                       TABLE 187 REST OF MIDDLE EAST & AFRICA: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                       TABLE 188 REST OF MIDDLE EAST & AFRICA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                       TABLE 189 REST OF MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODEL, 2019–2022 (USD MILLION)
                       TABLE 190 REST OF MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODEL, 2023–2028 (USD MILLION)
     11.6 LATIN AMERICA 
             11.6.1 LATIN AMERICA: OPEN BANKING SOLUTIONS MARKET DRIVERS
             11.6.2 LATIN AMERICA: RECESSION IMPACT
                       TABLE 191 LATIN AMERICA: MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 192 LATIN AMERICA: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 193 LATIN AMERICA: MARKET, BY SOLUTION,  2019–2022 (USD MILLION)
                       TABLE 194 LATIN AMERICA: MARKET, BY SOLUTION,  2023–2028 (USD MILLION)
                       TABLE 195 LATIN AMERICA: MARKET, BY SERVICE,  2019–2022 (USD MILLION)
                       TABLE 196 LATIN AMERICA: MARKET, BY SERVICE,  2023–2028 (USD MILLION)
                       TABLE 197 LATIN AMERICA: MARKET, BY APPLICATION,  2019–2022 (USD MILLION)
                       TABLE 198 LATIN AMERICA: MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                       TABLE 199 LATIN AMERICA: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                       TABLE 200 LATIN AMERICA: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
                       TABLE 201 LATIN AMERICA: MARKET, BY DIGITAL CHANNEL,  2019–2022 (USD MILLION)
                       TABLE 202 LATIN AMERICA: MARKET, BY DIGITAL CHANNEL,  2023–2028 (USD MILLION)
                       TABLE 203 LATIN AMERICA: MARKET, BY END USER,  2019–2022 (USD MILLION)
                       TABLE 204 LATIN AMERICA: MARKET, BY END USER,  2023–2028 (USD MILLION)
                       TABLE 205 LATIN AMERICA: MARKET, BY COUNTRY,  2019–2022 (USD MILLION)
                       TABLE 206 LATIN AMERICA: OPEN BANKING SOLUTIONS MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             11.6.3 BRAZIL
                       11.6.3.1 Strategic shift from traditional banking to open banking solutions to drive market
                                   TABLE 207 BRAZIL: OPEN BANKING SOLUTIONS MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                                   TABLE 208 BRAZIL: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 209 BRAZIL: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 210 BRAZIL: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.6.4 MEXICO
                       11.6.4.1 Increased demand for digital financial services to drive market
                                   TABLE 211 MEXICO: MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                                   TABLE 212 MEXICO: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                                   TABLE 213 MEXICO: MARKET, BY DEPLOYMENT MODEL,  2019–2022 (USD MILLION)
                                   TABLE 214 MEXICO: MARKET, BY DEPLOYMENT MODEL,  2023–2028 (USD MILLION)
             11.6.5 REST OF LATIN AMERICA
                       TABLE 215 REST OF LATIN AMERICA: MARKET, BY OFFERING,  2019–2022 (USD MILLION)
                       TABLE 216 REST OF LATIN AMERICA: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 217 REST OF LATIN AMERICA: MARKET, BY DEPLOYMENT MODEL, 2019–2022 (USD MILLION)
                       TABLE 218 REST OF LATIN AMERICA: OPEN BANKING SOLUTIONS MARKET, BY DEPLOYMENT MODEL, 2023–2028 (USD MILLION)
 
12 COMPETITIVE LANDSCAPE (Page No. - 212)
     12.1 INTRODUCTION 
     12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 
               TABLE 219 OVERVIEW OF STRATEGIES ADOPTED BY KEY VENDORS
     12.3 MARKET SHARE ANALYSIS 
               TABLE 220 MARKET SHARE OF KEY VENDORS, 2022
               FIGURE 41 MARKET: MARKET SHARE ANALYSIS, 2022
     12.4 OPEN BANKING SOLUTIONS MARKET: VENDOR BRANDS COMPARISON 
               TABLE 221 COMPARISON OF VENDORS’ BRANDS
     12.5 REVENUE ANALYSIS 
               FIGURE 42 HISTORICAL REVENUE ANALYSIS, 2018–2022 (USD MILLION)
     12.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
               FIGURE 43 COMPANY EVALUATION MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE
             12.6.1 STARS
             12.6.2 EMERGING LEADERS
             12.6.3 PERVASIVE PLAYERS
             12.6.4 PARTICIPANTS
                       FIGURE 44 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
             12.6.5 COMPANY FOOTPRINT: KEY PLAYERS
                       FIGURE 45 MARKET: COMPANY FOOTPRINT
                       TABLE 222 MARKET: REGIONAL FOOTPRINT
                       TABLE 223 MARKET: SOLUTION FOOTPRINT
                       TABLE 224 OPEN BANKING SOLUTIONS MARKET: APPLICATION FOOTPRINT
     12.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 
               FIGURE 46 COMPANY EVALUATION MATRIX FOR STARTUPS/SMES: CRITERIA WEIGHTAGE
             12.7.1 RESPONSIVE COMPANIES
             12.7.2 PROGRESSIVE COMPANIES
             12.7.3 DYNAMIC COMPANIES
             12.7.4 STARTING BLOCKS
                       FIGURE 47 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
             12.7.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES
                       12.7.5.1 Detailed list of key startups/SMEs
                                   TABLE 225 OPEN BANKING SOLUTIONS MARKET: KEY STARTUPS/SMES
                       12.7.5.2 Competitive benchmarking of key startups/SMEs
                                   TABLE 226 MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     12.8 COMPANY VALUATION AND FINANCIAL METRICS OF KEY VENDORS 
               FIGURE 48 COMPANY VALUATION AND FINANCIAL METRICS OF KEY VENDORS
               FIGURE 49 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND 5-YEAR STOCK BETA OF KEY VENDORS
     12.9 COMPETITIVE SCENARIO AND TRENDS 
             12.9.1 PRODUCT/SOLUTION/SERVICE LAUNCHES
                       TABLE 227 MARKET: PRODUCT/SOLUTION/SERVICE LAUNCHES, SEPTEMBER 2020–JANUARY 2024
             12.9.2 DEALS
                       TABLE 228 OPEN BANKING SOLUTIONS MARKET: DEALS, NOVEMBER 2020–FEBRUARY 2024
 
13 COMPANY PROFILES (Page No. - 238)
     13.1 INTRODUCTION 
     13.2 KEY PLAYERS 
(Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Key strengths, Strategic choices, and Weaknesses and Competitive threats)*
             13.2.1 PLAID
                       TABLE 229 PLAID: BUSINESS OVERVIEW
                       TABLE 230 PLAID: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 231 PLAID: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 232 PLAID: DEALS
             13.2.2 ENVESTNET
                       TABLE 233 ENVESTNET: BUSINESS OVERVIEW
                       FIGURE 50 ENVESTNET: COMPANY SNAPSHOT
                       TABLE 234 ENVESTNET: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 235 ENVESTNET: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 236 ENVESTNET: DEALS
             13.2.3 TINK
                       TABLE 237 TINK: BUSINESS OVERVIEW
                       TABLE 238 TINK: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 239 TINK: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 240 TINK: DEALS
             13.2.4 MX TECHNOLOGIES
                       TABLE 241 MX TECHNOLOGIES: BUSINESS OVERVIEW
                       TABLE 242 MX TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 243 MX TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 244 MX TECHNOLOGIES: DEALS
             13.2.5 FINICITY
                       TABLE 245 FINICITY: BUSINESS OVERVIEW
                       TABLE 246 FINICITY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 247 FINICITY: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 248 FINICITY: DEALS
             13.2.6 WORLDLINE
                       TABLE 249 WORLDLINE: BUSINESS OVERVIEW
                       FIGURE 51 WORLDLINE: COMPANY SNAPSHOT
                       TABLE 250 WORLDLINE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 251 WORLDLINE: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 252 WORLDLINE: DEALS
             13.2.7 TRUSTLY
                       TABLE 253 TRUSTLY: BUSINESS OVERVIEW
                       TABLE 254 TRUSTLY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 255 TRUSTLY: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 256 TRUSTLY: DEALS
             13.2.8 BBVA
                       TABLE 257 BBVA: BUSINESS OVERVIEW
                       FIGURE 52 BBVA: COMPANY SNAPSHOT
                       TABLE 258 BBVA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 259 BBVA: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 260 BBVA: DEALS
             13.2.9 GOCARDLESS
                       TABLE 261 GOCARDLESS: COMPANY OVERVIEW
                       TABLE 262 GOCARDLESS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 263 GOCARDLESS: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                       TABLE 264 GOCARDLESS: DEALS
             13.2.10 TEMENOS
                                   TABLE 265 TEMENOS: BUSINESS OVERVIEW
                                   FIGURE 53 TEMENOS: COMPANY SNAPSHOT
                                   TABLE 266 TEMENOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                                   TABLE 267 TEMENOS: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                                   TABLE 268 TEMENOS: DEALS
             13.2.11 VOLT
                                   TABLE 269 VOLT: BUSINESS OVERVIEW
                                   TABLE 270 VOLT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                                   TABLE 271 VOLT: PRODUCTS/SOLUTIONS/SERVICES LAUNCHES
                                   TABLE 272 VOLT: DEALS
             13.2.12 AXWAY SOFTWARE
                                   TABLE 273 AXWAY SOFTWARE: BUSINESS OVERVIEW
                                   FIGURE 54 AXWAY SOFTWARE: COMPANY SNAPSHOT
                                   TABLE 274 AXWAY SOFTWARE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                                   TABLE 275 AXWAY SOFTWARE: DEALS
     13.3 OTHER PLAYERS 
             13.3.1 FABRICK
             13.3.2 AKANA
             13.3.3 YAPILY
             13.3.4 SALT EDGE
             13.3.5 TOKEN.IO
             13.3.6 FIORANO
             13.3.7 TRUELAYER
             13.3.8 BUD FINANCIAL
             13.3.9 OPENPAYD
             13.3.10 FINASTRA
             13.3.11 GOOGLE
             13.3.12 SOPRA BANKING SOFTWARE
             13.3.13 INTUIT
             13.3.14 NDGIT
             13.3.15 TESOBE
             13.3.16 DIRECTID
*Details on Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Key strengths, Strategic choices, and Weaknesses and Competitive threats might not be captured in case of unlisted companies.
 
14 ADJACENT AND RELATED MARKETS (Page No. - 301)
     14.1 INTRODUCTION 
             14.1.1 RELATED MARKETS
     14.2 DIGITAL LENDING MARKET 
               TABLE 276 DIGITAL LENDING MARKET, BY OFFERING, 2017–2020 (USD MILLION)
               TABLE 277 DIGITAL LENDING MARKET, BY OFFERING, 2021–2026 (USD MILLION)
               TABLE 278 DIGITAL LENDING MARKET, BY SOLUTION, 2017–2020 (USD MILLION)
               TABLE 279 DIGITAL LENDING MARKET, BY SOLUTION, 2021–2026 (USD MILLION)
               TABLE 280 DIGITAL LENDING MARKET, BY SERVICE, 2017–2020 (USD MILLION)
               TABLE 281 DIGITAL LENDING MARKET, BY SERVICE, 2021–2026 (USD MILLION)
               TABLE 282 DIGITAL LENDING MARKET, BY DEPLOYMENT MODE, 2017–2020 (USD MILLION)
               TABLE 283 DIGITAL LENDING MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)
               TABLE 284 DIGITAL LENDING MARKET, BY END USER, 2017–2020 (USD MILLION)
               TABLE 285 DIGITAL LENDING MARKET, BY END USER, 2021–2026 (USD MILLION)
               TABLE 286 DIGITAL LENDING MARKET, BY REGION, 2017–2020 (USD MILLION)
               TABLE 287 DIGITAL LENDING MARKET, BY REGION, 2021–2026 (USD MILLION)
     14.3 DIGITAL BANKING PLATFORMS MARKET 
               TABLE 288 DIGITAL BANKING PLATFORMS MARKET, BY COMPONENT,  2017–2020 (USD MILLION)
               TABLE 289 DIGITAL BANKING PLATFORMS MARKET, BY COMPONENT,  2021–2026 (USD MILLION)
               TABLE 290 DIGITAL BANKING PLATFORMS MARKET, BY BANKING TYPE,  2017–2020 (USD MILLION)
               TABLE 291 DIGITAL BANKING PLATFORMS MARKET, BY BANKING TYPE,  2021–2026 (USD MILLION)
               TABLE 292 DIGITAL BANKING PLATFORMS MARKET, BY BANKING MODE,  2017–2020 (USD MILLION)
               TABLE 293 DIGITAL BANKING PLATFORMS MARKET, BY BANKING MODE,  2021–2026 (USD MILLION)
               TABLE 294 DIGITAL BANKING PLATFORMS MARKET, BY DEPLOYMENT TYPE,  2017–2020 (USD MILLION)
               TABLE 295 DIGITAL BANKING PLATFORMS MARKET, BY DEPLOYMENT TYPE,  2021–2026 (USD MILLION)
               TABLE 296 DIGITAL BANKING PLATFORMS MARKET, BY REGION, 2017–2020 (USD MILLION)
               TABLE 297 DIGITAL BANKING PLATFORMS MARKET, BY REGION, 2021–2026 (USD MILLION)
 
15 APPENDIX (Page No. - 308)
     15.1 DISCUSSION GUIDE 
     15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     15.3 CUSTOMIZATION OPTIONS 
     15.4 RELATED REPORTS 
     15.5 AUTHOR DETAILS 

The study covered four main actions to estimate the current market size of the Open Banking solutions market. We conducted significant secondary research to gather data on the market, the competing market, and the parent market. The following stage involved conducting primary research to confirm these conclusions' hypotheses and sizing with industry experts throughout the value chain. A combination of top-down and bottom-up methods was used to assess the overall market size. We then estimated the market sizes of the leading Open Banking solutions segments using the market breakup and data triangulation techniques.

Secondary Research

A wide range of secondary sources, directories, and databases were employed in this research project, including product demos, vendor data sheets, D&B Hoovers, DiscoverOrg, Factiva, Vendor Surveys, Global Findex database, Association for Financial Technology (AFT), and Company Websites/Annual Reports/SEC Filings. We referred to sources to locate and gather important data for this technical, commercial, and market-focused analysis of the Open Banking solutions market.

Primary Research

Several industry experts from the core and related industries and providers of preferred software  developers, distributors, service providers, technology developers, alliances, and organisations connected to every link in the industry value chain were the primary sources of information. Key industry participants, subject-matter experts, C-level executives of major market players, and industry consultants were among the primary respondents with whom in-depth interviews were conducted to gather and validate crucial qualitative and quantitative data and evaluate the market's potential.

To obtain information, we conducted primary interviews on market statistics, the most recent trends that are upending the industry, newly implemented use cases, data on revenue generated by goods and services, market segmentation, market size estimations, market forecasts, and data triangulation. Understanding different technological developments, segmentation types, industry trends, and geographical areas was also aided by primary research. To understand the buyer's perspective on suppliers, open banking solution providers, and their current use cases, which would affect the overall Open Banking solutions market, demand-side stakeholders, such as Chief Executive Officers (CEOs), Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Vice Presidents (VPs), and Chief Security Officers (CSOs), as well as the installation teams of governments/end users using Open Banking solutions, and digital initiatives project teams, were interviewed.

Open Banking Solutions  Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

We employed top-down and bottom-up methodologies to estimate and forecast the Open Banking solutions market and other associated submarkets. Using the revenues and product offerings of the major market players, the bottom-up approach assisted in determining the overall market size. This research ascertained and validated the precise value of the total parent market size through data triangulation techniques and primary interview validation. Using percentage splits of the market segments, we were able to estimate the size of other specific markets using the overall market size via the top-down approach.

The bottom-up approach identified the trend of Open Banking solutions adoption among industry verticals in critical countries that contribute the most to the market. The adoption trend of Open Banking solutions and varying cases of use concerning their business segments were identified and extrapolated for cross-validation. We gave weightage to the use cases identified in different solution areas for the calculation. We prepared an exhaustive list of all vendors offering Open Banking solutions. Using annual reports, news releases, fundraising, investor presentations, paid databases, and primary interviews, we calculated the revenue contribution of each vendor in the market.. We evaluated each vendor based on its service offerings across verticals. To get the entire market size, we extrapolated the total revenue of all businesses. The market size and geographical penetration of each subsegment were examined and analysed. We determined the region split through primary and secondary sources based on these numbers.

The top-down approach prepared an exhaustive list of all vendors in the Open Banking solutions market. We estimated the revenue contribution of all vendors in the market through their annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. We estimated the market size from revenues generated by vendors from different Open Banking solutions offerings. Using secondary and primary sources, we located additional vendors and the income produced by each service type, which we then aggregated to calculate the market size. Additionally, the procedure included a regional penetration analysis of the Open Banking solutions market. The investigation was utilized to ascertain and validate the precise values of the market sizes for Open Banking solutions and its sectors, using the data triangulation process and primary data validation. The main procedure to gather essential insights was conducting in-depth interviews with CEOs, CTOs, CIOs, VPs, directors, and marketing executives. To confirm, we further triangulated market numbers using the current MarketsandMarkets repository.

Open Banking solutions Market: Top-Down and Bottom-Up approaches

Open Banking Solutions  Market Top Down and Bottom Up Approach

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

The market was divided into several segments and subsegments using the previously described market size estimation procedures once the overall market size was determined. When required, market breakdown and data triangulation procedures were employed to complete the market engineering process and specify the exact figures for every market segment and subsegment. The data was triangulated by examining several variables and patterns from government entities' supply and demand sides.

Market Definition

Considering the views of various sources (Software AG company) and associations on Open Banking solutions, MarketsandMarkets defines Open Banking solutions as “a banking practice and regulatory framework that allows customers to grant third-party financial service providers access to their financial data held by traditional banks or financial institutions through secure Application Programming Interfaces (APIs). This sharing of data enables third-party developers to create innovative financial products and services, such as budgeting apps, payment solutions, investment platforms, and lending services, tailored to the individual needs and preferences of customers. Open Banking aims to promote competition, innovation, and transparency in the financial services industry, empowering customers with greater control over their financial data and fostering a more interconnected and dynamic ecosystem of financial services".

Key Stakeholders

  • Banks and Financial Institutions
  • Fintech Companies
  • Investors
  • Regulatory Bodies
  • Technology Providers
  • Third-Party Providers (TPPs)
  • Government Agencies
  • Industry Associations
  • Consulting Firms
  • Customers

Report Objectives

  • To define, describe, and forecast the Open Banking Solutions market based on offering, application, digital channel, deployment model, end user, and region
  • To offer comprehensive details regarding the primary variables impacting the market's growth (drivers, restraints, opportunities, and challenges)
  • To determine the high-growth market sectors in order to assess the opportunities for stakeholders in the market
  • To forecast the market size with respect to five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America
  • To analyze the subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market
  • To profile the key players of the market and comprehensively analyze their market size and core competencies
  • To track and analyze the competitive developments, such as product enhancements, product launches, acquisitions, partnerships, and collaborations, in the Open Banking Solutions market globally.

Available Customizations

With the given market data, MarketsandMarkets offers customizations per the company's specific needs. The following customization options are available for the report:

Product Analysis

  • The product matrix provides a detailed comparison of the product portfolio of each company.

Geographic Analysis

  • Further breakup of the Asia Pacific market into countries contributing 75% to the regional market size
  • Further breakup of the North American market into countries contributing 75% to the regional market size
  • Further breakup of the Latin American market into countries contributing 75% to the regional market size
  • Further breakup of the Middle Eastern & African market into countries contributing 75% to the regional market size
  • Further breakup of the European market into countries contributing 75% to the regional market size

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

Request Customization
Report Code
TC 8968
Published ON
Mar, 2024
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Open Banking Solutions Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status Website Feedback