Delray Beach, FL, Aug. 22, 2025 (GLOBE NEWSWIRE) — According to MarketsandMarkets™, the Open Banking Solutions Market size is expected to grow from USD 5.5 billion in 2023 to USD 11.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period.
It is noticed that consumers increasingly prefer mobile apps for banking transactions that facilitate seamless fund transfers, bill payments, and account management, web portals that in the current era serve as comprehensive platforms for digital banking, enabling customers to interact digitally across various services, and convenience for users to track their receivables, payables, and other financial activities via web portals, thereby enhancing transparency and control, are key driving factors of the Open Banking solutions market.
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Open Banking Solutions Market Dynamics
Drivers
- Increased consumer demand and adoption of cloud-based solutions by financial institutions
- Increasing compliance requirements of new data laws and regulations
- Need for greater visibility and options for borrowers and lenders
- Focus on development of innovative product offerings with evolving consumer requirements
Restraints
- Lack of digital literacy in certain emerging countries
Opportunities
- Gradual adoption of open-banking APIs
- Growing demand for state-of-the-art innovations and improved personalization
- Emphasis on better collaboration and partnership among key players
List of Top Companies in Open Banking Solutions Market
- Plaid (US)
- Envestnet (US)
- Tink (Sweden)
- Finicity (US)
- Trustly (Sweden)
- MX Technologies (US)
- Worldline (France)
- Volt.io …