Insights on the Open Banking Global Market to 2031 – by Financial Services, Distribution Channel and Region
Dublin, Oct. 28, 2022 (GLOBE NEWSWIRE) — The “Open Banking Market By Financial Services, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2031” report has been added to ResearchAndMarkets.com’s offering.
According to this report the global open banking market was valued at $7billion in 2018, and is expected to reach $43 billion by 2026, registering a CAGR of 24.4% from 2019 to 2026.
Open banking is a banking service in which the bank account data is shared through secured open application programming interface (APIs) to third-party services providers. These APIs deliver a secure way to share financial information between two parties. Furthermore, this financial information is used by banks and third-party organizations to design applications and services which are offered to the customer.
The exchanged information also allows the designing of advanced and personalized applications which improve the customer experience levels related to financial services. Furthermore, open banking platform makes it easier for consumers to compare the details of current accounts and other banking services. In addition, the advanced applications will potentially assist consumers such as small and medium businesses in making financial decisions.
Increase in the number of people using new wave apps and services and rise in customer engagement and attending banking customers need boost the growth of the open banking market. Furthermore, the benefits of an open banking platform are growing and are advantageous for all parties involved in the financial services sector, including banks, enterprises, FinTech, and innovators. This is an important factor that fosters the growth of the open banking market.
However, an increase in events of online fraud and data insecurity is expected to restrict the open banking market growth. On the contrary, significant increase in the collaboration of financial service providers, and traditional banking with FinTech is to boost the growth of open banking market.
The open banking market is studied on the basis of financial services, distribution channel, and region. By financial service, the market is divided into bank & capital market, payments, digital currencies, and others. As per distribution channel, it is divided into bank channels, app market, distributors, and aggregators. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The open banking market analysis includes top companies operating in the market such as Banco Bilbao Vizcaya Argentaria. S.A., Credit Agricole, Deposit Solutions, Finastra, Jack Henry & Associates, Inc., Nordigen Solutions, Revolut Ltd., Societe Generale, Tink (Visa Inc.), and Yapily Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the open banking industry.
Key Benefits
- The study provides in-depth analysis of the open banking market along with the current trends and future estimations to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the open banking market size are provided in the report.
- The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the open banking market from 2020 to 2031 is provided to determine the market potential.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: OPEN BANKING MARKET, BY FINANCIAL SERVICES
4.1 Overview
4.1.1 Market size and forecast
4.2 Banking & Capital Markets
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Payments
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Digital Currencies
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Value Added Services
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
CHAPTER 5: OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL
5.1 Overview
5.1.1 Market size and forecast
5.2 Bank Channel
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 App market
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Distributors
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Aggregators
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
CHAPTER 6: OPEN BANKING MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 BBVA SA
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Credit Agricole
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Deposit Solutions
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Finestra
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Jack Henry & Associates, Inc.
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Nordigen Solutions
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Revolut Ltd.
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Societe Generale
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Tink
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Yapily Ltd.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
For more information about this report visit https://www.researchandmarkets.com/r/uugylw
CONTACT: CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
