The global Open Banking Platform market size was valued at US$ 421 million in 2024 and is forecast to a readjusted size of USD 658 million by 2031 with a CAGR of 6.6% during review period.
Open banking refers to a banking practice that enables third-party developers to build applications and services by using APIs (Application Programming Interfaces) provided by financial institutions. Open banking platforms act as intermediaries that facilitate secure data sharing between banks and authorized third-party providers, such as fintech companies and other financial service providers.
The market for open banking platforms has witnessed significant growth in recent years, driven by factors such as regulatory initiatives, technological advancements, and changing customer expectations. Open banking aims to enhance competition, innovation, and customer experience in the financial services industry by enabling seamless integration of various financial products and services.
Open banking platforms provide APIs and developer tools that allow third-party providers to access and utilize customer financial data with their consent. This enables the development of innovative applications, such as personal finance management tools, payment services, lending platforms, and investment advisory services. Additionally, open banking platforms often offer security and consent management features to ensure data privacy and compliance with regulatory requirements.
The global market for open banking platforms is influenced by factors such as regulatory frameworks and initiatives promoting open banking, the adoption of API-driven business models in the financial industry, and the growing collaboration between traditional financial institutions and fintech startups. Regions such as Europe, particularly the European Union with its PSD2 (Payment Services Directive 2) regulation, have been at the forefront of open banking adoption. However, open banking initiatives are also gaining traction in other regions, including North America and Asia-Pacific.
Key players in the open banking platform market include financial technology companies, API providers, software development firms, and established financial institutions. Some notable players in this space include Plaid, Yapily, Tink, TrueLayer, and Figo, among others. These companies offer open banking platforms that enable secure and standardized access to financial data and services.
This report is a detailed and comprehensive analysis for global Open Banking Platform market. Both quantitative and qualitative analyses are presented by company, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Open Banking Platform market size and forecasts, in consumption value ($ Million), 2020-2031
Global Open Banking Platform market size and forecasts by region and country, in consumption value ($ Million), 2020-2031
Global Open Banking Platform market size and forecasts, by Type and by Application, in consumption value ($ Million), 2020-2031
Global Open Banking Platform market shares of main players, in revenue ($ Million), 2020-2025
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Open Banking Platform
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Open Banking Platform market based on the following parameters - company overview, revenue, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Frollo, Basiq, Tink, Data Action, Yodlee, Axway, Plaid, MX, Finicity, FormFree Holdings, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market segmentation
Open Banking Platform market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for Consumption Value by Type and by Application. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Cloud-based
On-premises
Market segment by Application
Finance and Insurance
Medical
Others
Market segment by players, this report covers
Frollo
Basiq
Tink
Data Action
Yodlee
Axway
Plaid
MX
Finicity
FormFree Holdings
Malauzai Software
Mambu GmbH
MineralTree
Yapily
TrueLayer
Figo
Frollo
Mastercard
TIBCO
Sopra Banking Software
Token
Direct ID
Yodlee
Salt Edge
Bud
Market segment by regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia and Rest of Asia-Pacific)
South America (Brazil, Rest of South America)
Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)
The content of the study subjects, includes a total of 13 chapters:
Chapter 1, to describe Open Banking Platform product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top players of Open Banking Platform, with revenue, gross margin, and global market share of Open Banking Platform from 2020 to 2025.
Chapter 3, the Open Banking Platform competitive situation, revenue, and global market share of top players are analyzed emphatically by landscape contrast.
Chapter 4 and 5, to segment the market size by Type and by Application, with consumption value and growth rate by Type, by Application, from 2020 to 2031
Chapter 6, 7, 8, 9, and 10, to break the market size data at the country level, with revenue and market share for key countries in the world, from 2020 to 2025.and Open Banking Platform market forecast, by regions, by Type and by Application, with consumption value, from 2026 to 2031.
Chapter 11, market dynamics, drivers, restraints, trends, Porters Five Forces analysis.
Chapter 12, the key raw materials and key suppliers, and industry chain of Open Banking Platform.
Chapter 13, to describe Open Banking Platform research findings and conclusion.
Please Note - This is an on demand report and will be delivered in 2 business days (48 Hours) post payment.
1 Market Overview
1.1 Product Overview and Scope
1.2 Market Estimation Caveats and Base Year
1.3 Classification of Open Banking Platform by Type
1.3.1 Overview: Global Open Banking Platform Market Size by Type: 2020 Versus 2024 Versus 2031
1.3.2 Global Open Banking Platform Consumption Value Market Share by Type in 2024
1.3.3 Cloud-based
1.3.4 On-premises
1.4 Global Open Banking Platform Market by Application
1.4.1 Overview: Global Open Banking Platform Market Size by Application: 2020 Versus 2024 Versus 2031
1.4.2 Finance and Insurance
1.4.3 Medical
1.4.4 Others
1.5 Global Open Banking Platform Market Size & Forecast
1.6 Global Open Banking Platform Market Size and Forecast by Region
1.6.1 Global Open Banking Platform Market Size by Region: 2020 VS 2024 VS 2031
1.6.2 Global Open Banking Platform Market Size by Region, (2020-2031)
1.6.3 North America Open Banking Platform Market Size and Prospect (2020-2031)
1.6.4 Europe Open Banking Platform Market Size and Prospect (2020-2031)
1.6.5 Asia-Pacific Open Banking Platform Market Size and Prospect (2020-2031)
1.6.6 South America Open Banking Platform Market Size and Prospect (2020-2031)
1.6.7 Middle East & Africa Open Banking Platform Market Size and Prospect (2020-2031)
2 Company Profiles
2.1 Frollo
2.1.1 Frollo Details
2.1.2 Frollo Major Business
2.1.3 Frollo Open Banking Platform Product and Solutions
2.1.4 Frollo Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.1.5 Frollo Recent Developments and Future Plans
2.2 Basiq
2.2.1 Basiq Details
2.2.2 Basiq Major Business
2.2.3 Basiq Open Banking Platform Product and Solutions
2.2.4 Basiq Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.2.5 Basiq Recent Developments and Future Plans
2.3 Tink
2.3.1 Tink Details
2.3.2 Tink Major Business
2.3.3 Tink Open Banking Platform Product and Solutions
2.3.4 Tink Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.3.5 Tink Recent Developments and Future Plans
2.4 Data Action
2.4.1 Data Action Details
2.4.2 Data Action Major Business
2.4.3 Data Action Open Banking Platform Product and Solutions
2.4.4 Data Action Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.4.5 Data Action Recent Developments and Future Plans
2.5 Yodlee
2.5.1 Yodlee Details
2.5.2 Yodlee Major Business
2.5.3 Yodlee Open Banking Platform Product and Solutions
2.5.4 Yodlee Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.5.5 Yodlee Recent Developments and Future Plans
2.6 Axway
2.6.1 Axway Details
2.6.2 Axway Major Business
2.6.3 Axway Open Banking Platform Product and Solutions
2.6.4 Axway Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.6.5 Axway Recent Developments and Future Plans
2.7 Plaid
2.7.1 Plaid Details
2.7.2 Plaid Major Business
2.7.3 Plaid Open Banking Platform Product and Solutions
2.7.4 Plaid Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.7.5 Plaid Recent Developments and Future Plans
2.8 MX
2.8.1 MX Details
2.8.2 MX Major Business
2.8.3 MX Open Banking Platform Product and Solutions
2.8.4 MX Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.8.5 MX Recent Developments and Future Plans
2.9 Finicity
2.9.1 Finicity Details
2.9.2 Finicity Major Business
2.9.3 Finicity Open Banking Platform Product and Solutions
2.9.4 Finicity Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.9.5 Finicity Recent Developments and Future Plans
2.10 FormFree Holdings
2.10.1 FormFree Holdings Details
2.10.2 FormFree Holdings Major Business
2.10.3 FormFree Holdings Open Banking Platform Product and Solutions
2.10.4 FormFree Holdings Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.10.5 FormFree Holdings Recent Developments and Future Plans
2.11 Malauzai Software
2.11.1 Malauzai Software Details
2.11.2 Malauzai Software Major Business
2.11.3 Malauzai Software Open Banking Platform Product and Solutions
2.11.4 Malauzai Software Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.11.5 Malauzai Software Recent Developments and Future Plans
2.12 Mambu GmbH
2.12.1 Mambu GmbH Details
2.12.2 Mambu GmbH Major Business
2.12.3 Mambu GmbH Open Banking Platform Product and Solutions
2.12.4 Mambu GmbH Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.12.5 Mambu GmbH Recent Developments and Future Plans
2.13 MineralTree
2.13.1 MineralTree Details
2.13.2 MineralTree Major Business
2.13.3 MineralTree Open Banking Platform Product and Solutions
2.13.4 MineralTree Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.13.5 MineralTree Recent Developments and Future Plans
2.14 Yapily
2.14.1 Yapily Details
2.14.2 Yapily Major Business
2.14.3 Yapily Open Banking Platform Product and Solutions
2.14.4 Yapily Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.14.5 Yapily Recent Developments and Future Plans
2.15 TrueLayer
2.15.1 TrueLayer Details
2.15.2 TrueLayer Major Business
2.15.3 TrueLayer Open Banking Platform Product and Solutions
2.15.4 TrueLayer Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.15.5 TrueLayer Recent Developments and Future Plans
2.16 Figo
2.16.1 Figo Details
2.16.2 Figo Major Business
2.16.3 Figo Open Banking Platform Product and Solutions
2.16.4 Figo Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.16.5 Figo Recent Developments and Future Plans
2.17 Frollo
2.17.1 Frollo Details
2.17.2 Frollo Major Business
2.17.3 Frollo Open Banking Platform Product and Solutions
2.17.4 Frollo Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.17.5 Frollo Recent Developments and Future Plans
2.18 Mastercard
2.18.1 Mastercard Details
2.18.2 Mastercard Major Business
2.18.3 Mastercard Open Banking Platform Product and Solutions
2.18.4 Mastercard Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.18.5 Mastercard Recent Developments and Future Plans
2.19 TIBCO
2.19.1 TIBCO Details
2.19.2 TIBCO Major Business
2.19.3 TIBCO Open Banking Platform Product and Solutions
2.19.4 TIBCO Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.19.5 TIBCO Recent Developments and Future Plans
2.20 Sopra Banking Software
2.20.1 Sopra Banking Software Details
2.20.2 Sopra Banking Software Major Business
2.20.3 Sopra Banking Software Open Banking Platform Product and Solutions
2.20.4 Sopra Banking Software Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.20.5 Sopra Banking Software Recent Developments and Future Plans
2.21 Token
2.21.1 Token Details
2.21.2 Token Major Business
2.21.3 Token Open Banking Platform Product and Solutions
2.21.4 Token Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.21.5 Token Recent Developments and Future Plans
2.22 Direct ID
2.22.1 Direct ID Details
2.22.2 Direct ID Major Business
2.22.3 Direct ID Open Banking Platform Product and Solutions
2.22.4 Direct ID Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.22.5 Direct ID Recent Developments and Future Plans
2.23 Yodlee
2.23.1 Yodlee Details
2.23.2 Yodlee Major Business
2.23.3 Yodlee Open Banking Platform Product and Solutions
2.23.4 Yodlee Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.23.5 Yodlee Recent Developments and Future Plans
2.24 Salt Edge
2.24.1 Salt Edge Details
2.24.2 Salt Edge Major Business
2.24.3 Salt Edge Open Banking Platform Product and Solutions
2.24.4 Salt Edge Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.24.5 Salt Edge Recent Developments and Future Plans
2.25 Bud
2.25.1 Bud Details
2.25.2 Bud Major Business
2.25.3 Bud Open Banking Platform Product and Solutions
2.25.4 Bud Open Banking Platform Revenue, Gross Margin and Market Share (2020-2025)
2.25.5 Bud Recent Developments and Future Plans
3 Market Competition, by Players
3.1 Global Open Banking Platform Revenue and Share by Players (2020-2025)
3.2 Market Share Analysis (2024)
3.2.1 Market Share of Open Banking Platform by Company Revenue
3.2.2 Top 3 Open Banking Platform Players Market Share in 2024
3.2.3 Top 6 Open Banking Platform Players Market Share in 2024
3.3 Open Banking Platform Market: Overall Company Footprint Analysis
3.3.1 Open Banking Platform Market: Region Footprint
3.3.2 Open Banking Platform Market: Company Product Type Footprint
3.3.3 Open Banking Platform Market: Company Product Application Footprint
3.4 New Market Entrants and Barriers to Market Entry
3.5 Mergers, Acquisition, Agreements, and Collaborations
4 Market Size Segment by Type
4.1 Global Open Banking Platform Consumption Value and Market Share by Type (2020-2025)
4.2 Global Open Banking Platform Market Forecast by Type (2026-2031)
5 Market Size Segment by Application
5.1 Global Open Banking Platform Consumption Value Market Share by Application (2020-2025)
5.2 Global Open Banking Platform Market Forecast by Application (2026-2031)
6 North America
6.1 North America Open Banking Platform Consumption Value by Type (2020-2031)
6.2 North America Open Banking Platform Market Size by Application (2020-2031)
6.3 North America Open Banking Platform Market Size by Country
6.3.1 North America Open Banking Platform Consumption Value by Country (2020-2031)
6.3.2 United States Open Banking Platform Market Size and Forecast (2020-2031)
6.3.3 Canada Open Banking Platform Market Size and Forecast (2020-2031)
6.3.4 Mexico Open Banking Platform Market Size and Forecast (2020-2031)
7 Europe
7.1 Europe Open Banking Platform Consumption Value by Type (2020-2031)
7.2 Europe Open Banking Platform Consumption Value by Application (2020-2031)
7.3 Europe Open Banking Platform Market Size by Country
7.3.1 Europe Open Banking Platform Consumption Value by Country (2020-2031)
7.3.2 Germany Open Banking Platform Market Size and Forecast (2020-2031)
7.3.3 France Open Banking Platform Market Size and Forecast (2020-2031)
7.3.4 United Kingdom Open Banking Platform Market Size and Forecast (2020-2031)
7.3.5 Russia Open Banking Platform Market Size and Forecast (2020-2031)
7.3.6 Italy Open Banking Platform Market Size and Forecast (2020-2031)
8 Asia-Pacific
8.1 Asia-Pacific Open Banking Platform Consumption Value by Type (2020-2031)
8.2 Asia-Pacific Open Banking Platform Consumption Value by Application (2020-2031)
8.3 Asia-Pacific Open Banking Platform Market Size by Region
8.3.1 Asia-Pacific Open Banking Platform Consumption Value by Region (2020-2031)
8.3.2 China Open Banking Platform Market Size and Forecast (2020-2031)
8.3.3 Japan Open Banking Platform Market Size and Forecast (2020-2031)
8.3.4 South Korea Open Banking Platform Market Size and Forecast (2020-2031)
8.3.5 India Open Banking Platform Market Size and Forecast (2020-2031)
8.3.6 Southeast Asia Open Banking Platform Market Size and Forecast (2020-2031)
8.3.7 Australia Open Banking Platform Market Size and Forecast (2020-2031)
9 South America
9.1 South America Open Banking Platform Consumption Value by Type (2020-2031)
9.2 South America Open Banking Platform Consumption Value by Application (2020-2031)
9.3 South America Open Banking Platform Market Size by Country
9.3.1 South America Open Banking Platform Consumption Value by Country (2020-2031)
9.3.2 Brazil Open Banking Platform Market Size and Forecast (2020-2031)
9.3.3 Argentina Open Banking Platform Market Size and Forecast (2020-2031)
10 Middle East & Africa
10.1 Middle East & Africa Open Banking Platform Consumption Value by Type (2020-2031)
10.2 Middle East & Africa Open Banking Platform Consumption Value by Application (2020-2031)
10.3 Middle East & Africa Open Banking Platform Market Size by Country
10.3.1 Middle East & Africa Open Banking Platform Consumption Value by Country (2020-2031)
10.3.2 Turkey Open Banking Platform Market Size and Forecast (2020-2031)
10.3.3 Saudi Arabia Open Banking Platform Market Size and Forecast (2020-2031)
10.3.4 UAE Open Banking Platform Market Size and Forecast (2020-2031)
11 Market Dynamics
11.1 Open Banking Platform Market Drivers
11.2 Open Banking Platform Market Restraints
11.3 Open Banking Platform Trends Analysis
11.4 Porters Five Forces Analysis
11.4.1 Threat of New Entrants
11.4.2 Bargaining Power of Suppliers
11.4.3 Bargaining Power of Buyers
11.4.4 Threat of Substitutes
11.4.5 Competitive Rivalry
12 Industry Chain Analysis
12.1 Open Banking Platform Industry Chain
12.2 Open Banking Platform Upstream Analysis
12.3 Open Banking Platform Midstream Analysis
12.4 Open Banking Platform Downstream Analysis
13 Research Findings and Conclusion
14 Appendix
14.1 Methodology
14.2 Research Process and Data Source
14.3 Disclaimer
Frollo
Basiq
Tink
Data Action
Yodlee
Axway
Plaid
MX
Finicity
FormFree Holdings
Malauzai Software
Mambu GmbH
MineralTree
Yapily
TrueLayer
Figo
Frollo
Mastercard
TIBCO
Sopra Banking Software
Token
Direct ID
Yodlee
Salt Edge
Bud
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*If Applicable.