Open Banking Market Size to Reach USD 136.86 Billion in 2032

KOLKATA, India - Jan. 29, 2026 - PRLog -- The increasing focus on financial inclusion is a major driver of revenue growth in the market. It expands access to financial services for underserved and unbanked populations. Governments, financial institutions, and fintech companies are investing heavily in digital banking solutions, mobile payments, and open banking frameworks to bring more individuals and small businesses into the formal financial ecosystem.

In September 2025, D•One, the Open Banking division of The ClearScore Group, teamed up with Amplifi Capital to deliver its Open Banking transaction categorization intelligence to the lending platform. This collaboration enables Amplifi Capital to advance financial inclusion by leveraging data that goes beyond conventional credit assessments.

However, the rising number of cyber-attacks, data breaches, and online frauds is restraining revenue growth of the market by undermining consumer trust and discouraging widespread adoption. Open Banking relies on the secure exchange of sensitive financial data between institutions and third-party providers, making security breaches a critical concern.

Segments Market Overview and Growth Insights:

Based on the service type, the open banking market is segmented into Account Information Services (AIS), Payment Initiation Services (PIS), value added services, digital currencies management, banking & capital markets and others.

The Payment Initiation Services (PIS) segment held the largest market share in 2024, driven by the growing preference for real-time, secure, and cost-effective digital payment options. PIS enables consumers and businesses to make direct bank-to-bank payments, eliminating dependence on traditional card networks while lowering transaction costs and settlement times. For example, in May 2025, Open Banking provider Salt Edge collaborated with multi-asset trading platform Tradu to enhance its security framework and maintain compliance with PSD2 standards.

Regional Market Overview and Growth Insights:
North America dominated the market in 2024, driven by the rapid uptake of digital banking solutions, strong fintech innovation, and growing consumer demand for secure, personalized financial services. Leading banks and financial institutions across the region are heavily investing in open API infrastructures to enhance interoperability, elevate customer experiences, and support seamless integration with third-party providers. In April 2025, London-based open banking fintech Yavrio expanded into the U.S. market, establishing links with major banks including Wells Fargo, JPMorgan, Citibank, Bank of America, and U.S. Bank.

Competitive Landscape and Key Competitors

List of major players included in the market report are: Plaid Inc, MX Technologies Inc., OpenPayd, Crédit Agricole CIB, Yodlee Inc. (Envestnet), Tink AB, Token Inc., TrueLayer Ltd., Salt Edge Limited, Railsr, Finleap, Finastra, DirectID, and GoCardless Ltd.

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