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Open Banking Global Market Report 2021: COVID-19 Implications and Growth

  • ID: 5504455
  • Report
  • November 2021
  • Region: Global
  • 175 Pages
  • The Business Research Company

FEATURED COMPANIES

  • Banco Santander S.A.
  • Capital One
  • Credit Agricole
  • DemystData
  • Finastra
  • Lloyds Banking Group
Open Banking Global Market Report 2021: COVID-19 Implications And Growth provides the strategists, marketers and senior management with the critical information they need to assess the global open banking market.



This report focuses on open banking market which is experiencing strong growth. The report gives a guide to the open banking market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

Reasons to Purchase:


  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:


Where is the largest and fastest growing market for the open banking? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Open Banking market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider open banking market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The open banking market section of the report gives context. It compares the open banking market with other segments of the open banking market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, open banking indicators comparison.

Scope


Markets Covered:


  • By Service Type: Transactional Services; Communicative Services; Information Services
  • By Financial Services: Bank And Capital Markets; Payments; Digital Currencies; Value Added Services
  • By Deployment Type: Cloud; On-Premises; Hybrid
  • By Distribution Channel: Bank Channels; App Market; Distributors; Aggregators

Companies Mentioned:


Capital One; HSBC Bank plc; Banco Bilbao Vizcaya Argentaria S.A; NatWest Group plc; DBS Bank

Countries:


Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions:


Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series:


Five years historic and ten years forecast.

Data:


Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data Segmentations:


Country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing

: Data and analysis throughout the report is sourced using end notes.
Frequently Asked Questions about the Global Open Banking Market

What is the estimated value of the Global Open Banking Market?

The Global Open Banking Market was estimated to be valued at $15.1 billion in 2021.

What is the growth rate of the Global Open Banking Market?

The growth rate of the Global Open Banking Market is 25.7%, with an estimated value of $37.8 billion by 2025.

What is the forecasted size of the Global Open Banking Market?

The Global Open Banking Market is estimated to be worth $37.8 billion by 2025.

Who are the key companies in the Global Open Banking Market?

Key companies in the Global Open Banking Market include Capital One, HSBC Bank plc, Banco Bilbao Vizcaya Argentaria S.A, NatWest Group plc, DBS Bank, Barclays, Lloyds Banking Group, Citigroup and Credit Agricole.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Banco Santander S.A.
  • Capital One
  • Credit Agricole
  • DemystData
  • Finastra
  • Lloyds Banking Group

1. Executive Summary2. Open Banking Market Characteristics3. Open Banking Market Trends and Strategies4. Impact Of COVID-19 On Open Banking
5. Open Banking Market Size and Growth
5.1. Global Open Banking Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Open Banking Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Open Banking Market Segmentation
6.1. Global Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Transactional Services
  • Communicative Services
  • Information Services
6.2. Global Open Banking Market, Segmentation by Financial Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Bank and Capital Markets
  • Payments
  • Digital Currencies
  • Value Added Services
6.3. Global Open Banking Market, Segmentation by Deployment Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Cloud
  • On-Premises
  • Hybrid
6.4. Global Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Bank Channels
  • App Market
  • Distributors
  • Aggregators

7. Open Banking Market Regional and Country Analysis
7.1. Global Open Banking Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Open Banking Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Open Banking Market
8.1. Asia-Pacific Open Banking Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8.3. Asia-Pacific Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
9. China Open Banking Market
9.1. China Open Banking Market Overview
9.2. China Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion
9.3. China Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion
10. India Open Banking Market
10.1. India Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
10.2. India Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11. Japan Open Banking Market
11.1. Japan Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.2. Japan Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Australia Open Banking Market
12.1. Australia Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12.2. Australia Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
13. Indonesia Open Banking Market
13.1. Indonesia Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
13.2. Indonesia Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
14. South Korea Open Banking Market
14.1. South Korea Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
14.2. South Korea Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
15. Western Europe Open Banking Market
15.1. Western Europe Open Banking Market Overview
15.2. Western Europe Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
15.3. Western Europe Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
16. UK Open Banking Market
16.1. UK Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
16.2. UK Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
17. Germany Open Banking Market
17.1. Germany Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
17.2. Germany Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
18. France Open Banking Market
18.1. France Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
18.2. France Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
19. Eastern Europe Open Banking Market
19.1. Eastern Europe Open Banking Market Overview
19.2. Eastern Europe Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
19.3. Eastern Europe Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
20. Russia Open Banking Market
20.1. Russia Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
20.2. Russia Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
21. North America Open Banking Market
21.1. North America Open Banking Market Overview
21.2. North America Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
21.3. North America Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
22. USA Open Banking Market
22.1. USA Open Banking Market Overview
22.2. USA Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
22.3. USA Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
23. South America Open Banking Market
23.1. South America Open Banking Market Overview
23.2. South America Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
23.3. South America Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
24. Brazil Open Banking Market
24.1. Brazil Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
24.2. Brazil Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
25. Middle East Open Banking Market
25.1. Middle East Open Banking Market Overview
25.2. Middle East Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
25.3. Middle East Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
26. Africa Open Banking Market
26.1. Africa Open Banking Market Overview
26.2. Africa Open Banking Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
26.3. Africa Open Banking Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
27. Open Banking Market Competitive Landscape and Company Profiles
27.1. Open Banking Market Competitive Landscape
27.2. Open Banking Market Company Profiles
27.2.1. Capital One
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. HSBC Bank plc
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Banco Bilbao Vizcaya Argentaria S.A
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. NatWest Group plc
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. DBS Bank
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers and Acquisitions In the Open Banking Market29. Open Banking Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright and Disclaimer
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Banco Santander S.A.
  • Capital One
  • Credit Agricole
  • DemystData
  • Finastra
  • Lloyds Banking Group
Major players in the open banking market are Capital One, HSBC Bank plc, Banco Bilbao Vizcaya Argentaria S.A, NatWest Group plc, DBS Bank, Barclays, Lloyds Banking Group, Citigroup, Banco Santander S.A., Credit Agricole, NCR Corporation, DemystData, Figo GmbH, Finastra, Jack Henry & Associates Inc., and MineralTree Inc.

The main types of services in open banking are transactional services, communicative services, and information services. Trade finance and cash management services are provided by transaction banking to businesses, government agencies, and other financial organizations. The different financial services include bank and capital markets, payments, digital currencies, value-added services and are deployed in various modes such as cloud, on-premises, hybrid. The various distribution channels include bank channels, app markets, distributors, and aggregators.

The global open banking market is expected to grow from $11.79 billion in 2020 to $15.13 billion in 2021 at a compound annual growth rate (CAGR) of 28.4%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $37.77 billion in 2025 at a CAGR of 25.7%.

The open banking market consists of sales of open banking services by entities (organizations, sole traders, and partnerships) that unites banks, third parties, and technology providers, allowing them to exchange data easily and securely for the benefit of their consumers. Open banking is a banking practice in which third-party financial service providers can use application programming interfaces (APIs) to gain access to consumer banking, transactions, and other data from banks and NBFCs. These APIs deliver a secure way to share financial information between two parties and makes it easier for consumers to compare the details of current accounts and other banking services.


North America was the largest region in the open banking market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The surge in usage of online platforms for making payments is contributing to the growth of the open banking market. The digital payment system is rapidly expanding with developing payment methods, increased e-commerce use, improved broadband access, and the advent of new technologies. Payment gateway APIs are used by online platforms such as phone pay, Paytm, and Google Pay to manage recurring billing, and these APIs are often used in open banking. For instance, in August 2021, Google Pay, a US-based digital wallet platform crossed 1 billion transactions. Additionally, in July 2021, PhonePe, a digital payments network, set a new milestone by processing 1.5 billion transactions through the unified payments interface (UPI). Therefore, the rise in the use of online platforms for making payments is expected to propel the growth of the open banking market in the coming years.

Big data analytics is an emerging trend in the open banking market. Big data analytics collects, processes, and analyzes structured, and unstructured data. The major use of big data analytics is to get business insights into the data. In the open banking market, big data analytics is used to personalize the services for improving the customer experience. For instance, in 2020, HSBC Bank plc, a UK-based investment banking company increased its investment in the use of artificial intelligence (AI) and big data analytics techniques to manage financial crime risk.

In June 2021, Visa Inc., a US-based financial services company acquired Tink for $2.15 billion. The acquisition is expected to accelerate European open banking adoption by providing a secure and dependable platform for innovation. As a result, customers will have more control over their financial experiences, including financial objectives, managing their funds, and financial data. Tink is a Sweden-based open banking company that helps banks, fintech's, and start-ups across Europe develop database financial services.

The countries covered in the open banking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Capital One
  • HSBC Bank plc
  • Banco Bilbao Vizcaya Argentaria S.A
  • NatWest Group plc
  • DBS Bank
  • Barclays
  • Lloyds Banking Group
  • Citigroup
  • Banco Santander S.A.
  • Credit Agricole
  • NCR Corporation
  • DemystData
  • Figo GmbH
  • Finastra
  • Jack Henry & Associates Inc.
  • MineralTree Inc.
Note: Product cover images may vary from those shown

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