Open Banking will exceed $116 billion by 2026
The value of global payment transactions facilitated by Open Banking will exceed $116 billion by 2026, according to a Study by Juniper Research Open Banking: Key Opportunities, Vendor Strategies & Market Forecasts 2021‑2026 . This projected value represents a 2,800% growth rate in the next 5 years—2021 is projected to generate $4 billion.
This extraordinary growth will be driven by increasing user awareness of Open Banking features, supported by greater deployment within Europe, as vendors build on PSD2 (Second Payment Services Directive) APIs to deliver expanding services.
Europe will account for over 75% of Open Banking payments users globally in 2026; demonstrating the head start that PSD2 has given this market. However, the report recommends that API vendors look beyond regulatory minimum requirements to develop advanced use cases such as aggregation of additional products, including loans, credit cards and mortgages, as awareness builds.