Open Banking Solutions Market

Top Companies in Open Banking Solutions Industry - Plaid (US), Envestnet (US) and Finicity (US)

The Open banking solutions market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 16.0% from USD 5.5 billion in 2023 to USD 11.7 billion in 2028 throughout the forecast period. An urge to shift to digital banking platforms and digital lending, from traditional practices, strict adherence and compliance to regulatory and government-led reporting standards across verticals and regions, demand for user experience centricity across verticals, digitalization, and automation are expected to drive the growth of the global Open banking solutions market.

Major vendors in this market are based in North America, Asia Pacific, and Europe. Some of the key players operating in the Open banking solutions market are – Plaid (US), Envestnet (US), Tink (Sweden), MX Technologies (US), Trustly (Sweden), and Worldline (France), among others. These companies have strengthened their positions in the market by implementing a variety of growth tactics. To increase their market share in Open banking solutions, they can do things like product launches, agreements, collaborations, mergers and acquisitions, and the creation of new products.

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Envestnet is a significant player in the open banking solutions market, providing comprehensive wealth management and financial technology solutions. Since its establishment, Envestnet has developed into a prominent global supplier of integrated wealth management software and services, serving financial advisors, institutions, and fintech firms. Envestnet's open banking solutions offer secure access to financial data, enabling seamless integration with banking systems, investment platforms, and third-party applications. Leveraging its extensive network of financial institutions and data sources, Envestnet empowers advisors and firms to deliver their clients personalized financial advice, investment strategies, and wealth management solutions. Envestnet is adding open banking solutions to its portfolio to address the changing demands of the financial sector while maintaining a focus on innovation, dependability, and compliance. Envestnet enables advisors and firms to deliver holistic, data-driven advice and empower clients to achieve their financial goals by providing access to comprehensive financial data and analytics.


Plaid is a leading provider of open banking solutions, offering a comprehensive platform that enables secure access to financial data and facilitates seamless integration with banking systems. Plaid empowers thousands of developers, fintech startups, and financial institutions to build innovative financial products and services. Plaid's platform provides access to a vast network of financial institutions, allowing users to connect their bank accounts, verify account ownership, and access transaction data through standardized APIs. With a focus on data security, reliability, and compliance, Plaid ensures that sensitive financial information is handled securely and by regulatory requirements. Plaid's solutions are widely utilized across various industries, including personal finance management, lending, payments, and wealth management. The company's robust developer tools, extensive documentation, and dedicated support team make it easy for businesses to integrate Plaid's technology into their applications and deliver seamless, personalized financial experiences to their customers. As the demand for open banking solutions grows, Plaid remains at the forefront of innovation, driving industry-wide adoption and advancement in the open banking ecosystem.


Finicity is a key player in the open banking solutions market, providing a comprehensive platform that enables secure access to financial data and facilitates seamless integration with banking systems. Established in 1999 and based in Salt Lake City, Utah, Finicity has become a prominent supplier of financial technology solutions, catering to a wide range of customers such as financial institutions, fintech companies, and individuals. Finicity's platform offers various solutions, including data aggregation, financial data APIs, and credit decisioning tools, empowering businesses to leverage data-driven insights to enhance their offerings and improve customer experiences. With a strong focus on data security, compliance, and innovation, Finicity helps companies unlock the full potential of open banking and drive digital transformation in the financial industry. Finicity continues to lead innovation in open banking, offering state-of-the-art solutions that enable companies to prosper in a world that is becoming more connected and data-driven.

Related Reports:

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

Mr. Aashish Mehra
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Open Banking Solutions Market Size,  Share & Growth Report
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