The global application programming interface (API) banking market is anticipated to grow at a CAGR of 20.5% during the forecast period. Open banking refers to the use of APIs to share financial data and services with third parties. Third parties typically provide technology, a service, or an app to the bank’s customers that makes use of the shared financial data and services. According to the Consumer Financial Protection Bureau (CFPB) In June 2023, New digital banking technologies have the power to expand and open market access for American consumers and emerging businesses. Standards can allow open banking to evolve as new technologies emerge, new products develop, and new data security challenges arise.
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/api-banking-market
According to Open Banking, In October 2023, Through Impact reported 9.7 million payments made in June 2023, over 1 in 9 (11.0%) British consumers are active users of open banking, and 17.0% of small businesses. The average transaction value of open banking payments is around $574, meaning the total monthly value of open banking payments is around $6.2 billion. For instance, In October 2023, Mastercard provided open banking technology to support partners across the ecosystem with safe, flexible, and secure lending and payment experiences. Including WorldPay from FIS, the merchant solutions business of global financial services technology provider FIS, and Zip, a buy now, pay later firm, to scale new open banking-powered solutions that enable more payment choices, empower consumer lending, and modernize account-based payments.
Global Application Programming Interface (API) Banking Market Report Segment
By Application
- Personal Banking
- Corporate Banking
- Wealth Management
- Others (Customer, Payment, and Transaction Information)
By Deployment
- On-Premise
- Cloud
By Component
- Solution
- Service
By Enterprise Size
- Large Enterprises
- Small and Mid-Sized Enterprises (SMEs)
A full report of Application Programming Interface (API) Banking Market available @ https://www.omrglobal.com/industry-reports/api-banking-market
Application Programming Interface (API) Banking Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Citibank
- Deutsche Bank
- Finastra
- Google LLC
- IBM Corporation
- Infosys Ltd
- JPMorgan Chase
- Oracle Corp.
- Razorpay
- Salesforce, Inc.
Reasons to Buying From us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research
Visit more report at
https://www.linkedin.com/pulse/scaffold-technology-market-size-trends-latest-arti-vishwakarma-mlsof/
