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Open Banking Market by Financial Services (Banking and Capital Markets, Payments, Digital Currencies, and Value Added Services) and Distribution Channel (Bank Channel, App market, Distributors, and Aggregators): Global Opportunity Analysis and Industry Forecast, 2019–2026

March 2020 | 159 pages | ID: O80EF1BBD1CEEN
Allied Market Research

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The global open banking market accounted for $7,295million in 2018, and is expected to reach $43,152million 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 more 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.

The major factor which contribute to the growth of open banking market include increase in the number of people using new wave apps and services. In addition, rise in customer engagement and attending banking customers need quickly boost the growth of the open banking market. Furthermore, the rise in advantages of an open banking platform that makes beneficial to all stakeholders in the financial services industry includes consumers, businesses, Fintech’s, innovators, and banks. 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 increases in the collaboration of financial service providers, and traditional banking with Fintech is an expected opportunity to boost growth of the open banking market.

The global open banking market is studied on the basis of financial services, distribution channel, and region. By financial services, 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. In-depth analysis of the open banking market is provided for North America (U.S., Canada, and Mexico), Europe, (UK, Germany, Netherlands, Spain, and Rest of Europe) Asia-Pacific & LATAM (China, Singapore, Australia, Hong Kong, and Rest of Asia-Pacific & LATAM).

KEY BENEFITS FOR STAKEHOLDERS
  • This report entails a detailed quantitative analysis along with the current global open banking market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessments.
  • The market size and estimations are based on a comprehensive analysis of key developments in the industry.
  • A qualitative analysis based on innovative products facilitates strategic business planning.
      • The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
Key Market Segments
  • By Financial Services
    • Banking & Capital Markets
    • Payments
    • Digital Currencies
    • Value Added Services
  • By Distribution channel
    • Bank Channel
    • App market
    • Distributors
    • Aggregators
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • UK
      • Germany
      • Netherlands
      • Spain
      • Rest of Europe
    • Asia-Pacific
      • China
      • Singapore
      • Australia
      • Hong Kong
      • Rest of Asia-Pacific and LATAM
  • List of key players profiled in the report:
  • BBVA Open Platform Inc.
  • Credit Agricole
  • DemystData
      • Figo GmbH
  • Finastra
  • FormFree
  • Jack Henry & Associates, Inc.
  • Mambu GmbH
  • MineralTree Inc.
  • NCR Corporation
CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. List of key players profiled in the report
1.5. Research methodology
Secondary research
Primary research
Analyst tools & 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. Market evolution
3.3. Market dynamics
Drivers
    3.3.1.1. Potential benefits of open banking
    3.3.1.2. Increase in adoption of new applications and services
    3.3.1.3. Improved overall customer engagement with open banking API’s
    3.3.1.4. Favorable government regulations
Restraint
    3.3.1.5. Lack of awareness around open banking, data security and managing threats related to security
Opportunity
    3.3.1.6. Increase in collaborations between banks and Fintech firms

CHAPTER 4: OPEN BANKING MARKET, FINANCIAL SERVICES

4.1. Overview
Market size and forecast
4.2. Banking & Capital Markets
Key market trends and opportunities
Market size and forecast
Market analysis, by country
4.3. Payments
Key market trends and opportunities
Market size and forecast
Market analysis, by country
4.4. Digital Currencies
Key market trends and opportunities
Market size and forecast
Market analysis, by country
4.5. Value Added Services
Key market trends and opportunities
Market size and forecast
Market analysis, by country

CHAPTER 5: OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL

5.1. Overview
Market size and forecast
5.2. Bank Channel
Market size and forecast
Market analysis, by country
5.3. App market
Market size and forecast
Market analysis, by country
5.4. Distributors
Market size and forecast
Market analysis, by country
5.5. Aggregators
Market size and forecast
Market analysis, by country

CHAPTER 6: OPEN BANKING MARKET, BY REGION

6.1. Overview
Market analysis, by country
6.2. North America
Key market trends and opportunities
North America market size and forecast, by financial services
North America market size and forecast, by distribution channel
North America market size and forecast, by country
    6.2.1.1. U.S. market size and forecast, by financial services
    6.2.1.2. U.S. market size and forecast, by distribution channel
    6.2.1.4. Canada market size and forecast, by financial services
    6.2.1.5. Canada market size and forecast, by distribution channel
    6.2.1.6.
6.3. Europe
Key market trends and opportunities
Europe market size and forecast, by financial services
Europe market size and forecast, by distribution channel
Europe market size and forecast, by country
    6.3.1.1. UK market size and forecast, by financial service
    6.3.1.2. UK market size and forecast, by distribution channel
    6.3.1.3. Germany market size and forecast, by financial services
    6.3.1.4. Germany market size and forecast, by distribution channel
    6.3.1.5. The Netherlands market size and forecast, by financial services
    6.3.1.6. Netherlands market size and forecast, by distribution channel
    6.3.1.7. Spain market size and forecast, by financial services
    6.3.1.8. Spain market size and forecast, by distribution channel
    6.3.1.9. Rest of Europe market size and forecast, by financial services
    6.3.1.10. Rest of Europe market size and forecast, by distribution channel
6.4. Asia-Pacific and LATAM
Key market trends and opportunities
Asia-Pacific market size and forecast, by financial services
Asia-Pacific market size and forecast, by distribution channel
Asia-Pacific market size and forecast, by country
    6.4.1.1. China market size and forecast, by financial services
    6.4.1.2. China market size and forecast, by distribution channel
    6.4.1.3. Singapore market size and forecast, by financial services
    6.4.1.4. Singapore market size and forecast, by distribution channel
    6.4.1.6. Australia market size and forecast, by financial service
    6.4.1.7. Australia market size and forecast, by distribution channel
    6.4.1.8. Hong Kong market size and forecast, by financial service
    6.4.1.9. Hong Kong market size and forecast, by distribution channel
    6.4.1.10. Rest of Asia-Pacific and LATAM market size and forecast, by financial services
    6.4.1.11. Rest of Asia-Pacific and LATAM market size and forecast, by distribution channel

CHAPTER 7: COMPANY PROFILES

7.1. BBVA Open Platform Inc.
Company overview
Company snapshot
Operating business segments
Product Portfolio
Key strategic moves and developments
7.2. Credit Agricole
Company overview
Company snapshot
Operating business segments
Product Portfolio
Business performance
7.3. DemystData
Company overview
Company snapshot
Product portfolio
7.4. figo GmbH
Company overview
Company snapshot
Product Portfolio
7.5. Finastra
Company overview
Operating business segments
Product Portfolio
Key strategic moves and developments
7.6. FormFree
Company overview
Company snapshot
Product portfolio
Key strategic moves and developments
7.7. Jack Henry & Associates, Inc.
Company overview
Company snapshot.
Operating business segments
Product Portfolio
Business performance
7.8. Mambu GmbH
Company overview
Company snapshot
Product portfolio
7.9. MineralTree, Inc.
Company overview
Company snapshot
Operating business segments
7.10. NCR Corporation
Company overview
Company snapshot
Operating business segments
Product portfolio
Business performance
LIST OF TABLES

TABLE 01. GLOBAL OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 02. BANKING & CAPITAL OPEN BANKING MARKET REVENUE BY REGION, 2018–2026 ($BILLION)
TABLE 03. OPEN BANKING MARKET FOR PAYMENTS, BY REGION, 2018–2026 ($BILLION)
TABLE 04. OPEN BANKING MARKET FOR DIGITAL CURRENCIES, BY REGION, 2018–2026 ($BILLION)
TABLE 05. OPEN BANKING MARKET FOR VALUE ADDED SERVICES, BY REGION, 2018–2026 ($BILLION)
TABLE 06. GLOBAL OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 07. OPEN BANKING MARKET FOR APP, BY REGION, 2018–2026, ($BILLION)
TABLE 08. OPEN BANKING MARKET FOR DISTRIBUTORS, BY REGION, 2018–2026, ($BILLION)
TABLE 09. OPEN BANKING MARKET FOR AGGREGATORS BY REGION, 2018–2026, ($BILLION)
TABLE 10. OPEN BANKING MARKET, BY REGION, 2018–2026 ($BILLION)
TABLE 11. NORTH OPEN BANKING MARKET, BY FINANCIAL SERVCIES 2018–2026 ($BILLION)
TABLE 12. NORTH AMERICA OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 13. NORTH AMERICA OPEN BANKING MARKET, BY COUNTRY, 2018–2026 ($BILLION)
TABLE 14. U.S. OPEN BANKING MARKET, BY FINANCIAL SERVCES, 2018–2026 ($BILLION)
TABLE 15. U.S. OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 16. CANADA OPEN BANKING MARKET, BY FIANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 17. CANADA OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 18. EUROPE OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 19. EUROPE OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 20. EUROPE AMERICA OPEN BANKING INSURANCE MARKET, BY COUNTRY, 2018–2026 ($BILLION)
TABLE 21. UK OPEN BANKING MARKET, BY PROVIDER, 2018–2026 ($BILLION)
TABLE 22. UK OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 23. GERMANY OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 24. GERMANY OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 25. THE NETHERLANDSS OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 26. NETHERLANDS OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 27. SPAIN OPEN BANKING MARKET, BY FINANCIAL SERVICES 2018–2026 ($BILLION)
TABLE 28. SPAIN OPEN BNKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 29. REST OF EUROPE OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 30. REST OF OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 31. ASIA-PACIFIC AND LATAM OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 32. ASIA-PACIFIC AND LATAM OPEN BANKING MARKET, BY DISTRIBUTION CAHNNEL, 2018–2026 ($BILLION)
TABLE 33. ASIA-PACIFIC AND LATAM OPEN BANKING MARKET, BY COUNTRY, 2018–2026 ($BILLION)
TABLE 34. CHINA OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 35. CHINA OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 36. SINGAPORE OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 37. SINGAPORE OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 38. AUSTRALIA OPEN BANKING MARKET, BY FINANCIAL SERVICE, 2018–2026 ($BILLION)
TABLE 39. AUSTRALIA OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 40. HONG KONGOPEN BANKING MARKET, BY FINANCIAL SERVICE, 2018–2026 ($BILLION)
TABLE 41. HONG KONGOPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 42. REST OF ASIA-PACIFIC AND LATAM OPEN BANKING MARKET, BY FINANCIAL SERVICES, 2018–2026 ($BILLION)
TABLE 43. REST OF ASIA-PACIFIC AND LATAM OPEN BANKING MARKET, BY DISTRIBUTION CHANNEL, 2018–2026 ($BILLION)
TABLE 44. BBVA OPEN PLATFORM INC.: COMPANY SNAPSHOT
TABLE 45. BBVA OPEN PLATFORM INC: OPERATING SEGMENTS
TABLE 46. BBVA OPEN PLATFORM INC.: PRODUCT PORTFOLIO
TABLE 47. CREDIT AGRICOLE COMPANY SNAPSHOT
TABLE 48. CREDIT AGRICOLE OPERATING SEGMENTS
TABLE 49. CREDIT AGRICOLE PRODUCT PORTFOLIO
TABLE 50. DEMYSTDATA: COMPANY SNAPSHOT
TABLE 51. DEMYSTDATA: PEODUCT PORTFOLIO
TABLE 52. FIGO GMBH: COMPANY SNAPSHOT
TABLE 53. FIGO GMBH: PRODUCT PORTFOLIO
TABLE 54. FINASTRA: COMPANY SNAPSHOT
TABLE 55. FINESTRA: OPERATING SEGMENTS
TABLE 56. FINESTRA: PRODUCT PORTFOLIO
TABLE 57. FORMFREE: COMPANY SNAPSHOT
TABLE 58. FORMFREE.: PRODUCT PORTFOLIO
TABLE 59. JACK HENRY & ASSOCIATES, INC.: COMPANY SNAPSHOT
TABLE 60. JACK HENRY & ASSOCIATES, INC.: OPERATING SEGMENTS
TABLE 61. JACK HENRY & ASSOCIATES, INC.: PRODUCT PORTFOLIO
TABLE 62. MAMBU GMBH: COMPANY SNAPSHOT
TABLE 63. MAMBU GMBH PRODUCT PORTFOLIO
TABLE 64. MINERALTREE INC: COMPANY SNAPSHOT
TABLE 65. MINERALTREE INC: OPERATING SEGMENTS
TABLE 66. NCR CORPORATION: COMPANY SNAPSHOT
TABLE 67. NCR CORPORATION: OPERATING SEGMENTS
TABLE 68. NCR CORPRATION: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01. OPEN BANKING MARKET, BY SEGMENT
FIGURE 02. MARKET EVOLUTION
FIGURE 03. MARKET DYNAMICS
FIGURE 04. COMPARATIVE SHARE ANALYSIS OF BANKING & CAPITAL OPEN BANKING MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 05. COMPARATIVE SHARE ANALYSIS OF OPEN BANKING MARKET FOR PAYMENTS MARKETS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 06. COMPARATIVE SHARE ANALYSIS OF OPEN BANKING MARKET FOR DIGITAL CURRENCIES MARKETS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 07. COMPARATIVE SHARE ANALYSIS OF OPEN BANKING MARKET FOR VALUE ADDED SERVICES MARKETS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 08. COMPARATIVE SHARE ANALYSIS OF OPEN BANKING MARKET FOR VALUE ADDED SERVICES BY COUNTRY, 2018 & 2026 (%)
FIGURE 09. OPEN BANKING COMPARATIVE SHARE ANALYSIS OF OPEN BANKING MARKET FOR BANK CHANNEL MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 10. COMPARATIVE SHARE ANALYSIS OF OPEN BANKING MARKET FOR APP, BY COUNTRY, 2018 & 2026 (%)
FIGURE 11. COMPARATIVE SHARE ANALYSIS OF OPEN BANKING MARKET FOR DISTRIBUTORS MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF OPEN BANKING MARKET FOR AGGREGATORS BY COUNTRY, 2018 & 2026 (%)
FIGURE 13. CREDIT AGRICOLE.: NET SALES, 2016–2018 ($MILLION)
FIGURE 14. CREDIT AGRICOLE.: REVENUE SHARE BY SEGMENT (2018)
FIGURE 15. JACK HENRY & ASSOCIATES, INC.: NET SALES, 2016–2018 ($MILLION)
FIGURE 16. JACK HENRY & ASSOCIATES, INC.: REVENUE SHARE BY SEGMENT (2018)
FIGURE 17. JACK HENRY & ASSOCIATES, INC.: REVENUE SHARE BY REGION (2018)
FIGURE 18. NCR CORPORATION: NET SALES, 2016–2018 ($MILLION)
FIGURE 19. NCR CORPORATION: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 20. NCR CORPORATION: REVENUE SHARE BY REGION, 2018 (%)


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