Open Banking Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2024 to 2031)

The global open banking market is anticipated to grow at a CAGR of 21.2% during the forecast period (2024-2031). The bank’s ability to collect an unprecedented amount of consumer data, analyze it, and provide customized services where they are needed is made possible by cloud deployment services that enable scalability, flexibility, and real-time processing, which is expected to create new opportunities for segment growth. The fastest growth owing to the increased adoption of cloud technology across the banking sector this technology enables banks to comply with open banking regulations and accelerate innovation in a new digital ecosystem for instance, in February 2023, Oracle launched Oracle banking cloud services of componentized, composable cloud-native services. by using this platform, the company provides services such as wide limits and collateral management, global payment processing for API management, retail onboarding and originations, and new self-service digital experience capabilities. The new services are built and running on the high performance, scalability, security, and compliance of Oracle Cloud Infrastructure, including OCI’s Oracle Kubernetes Engine.

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Market Coverage

  • The market number available for – 2024-2031
  • Base year- 2023
  • Forecast period- 2024-2031

Segment Covered- 

  • By Type
  • By Services
  • By Distribution Channel

Regions Covered-

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

Competitive Landscape- includes HSBC Bank plc, Jack Henry & Associates Inc., Lloyds Bank plc, Mambu and Mineral Tree, Inc., and others.

Open Banking Market Report Segment

By Type 

  • Cloud
  • On-Premises
  • Hybrid

By Services

  • Banking & Capital Markets
  • Payments
  • Digital Currencies
  • Value-Added Services

By Distribution Channel

  • Bank Channel
  • App Market
  • Distributors
  • Aggregators

A full Report of Open Banking Market is Available @  https://www.omrglobal.com/industry-reports/open-banking-market

Open Banking Market Report Segment by Region

North America                                                                                                           

  • United States
  • Canada

Europe

  • UK
  • Germany
  • Spain
  • France
  • Italy
  • Rest of Europe

Asia-Pacific

  • India
  • China
  • Japan
  • South Korea
  • Rest of APAC

Rest of the World

  • Latin America
  • Middle East and Africa

Company Profiles

  • Adform
  • com
  • HSBC bank plc
  • Jack Henry & Associates Inc.
  • Lloyds Bank plc
  • Mambu
  • Mineral Tree, Inc
  • NCR corp.
  • Nordigen Solutions
  • Qwist GmbH
  • Revolut Ltd
  • Societe Generale Luxembourg
  • Tink AB
  • Wells Fargo
  • Yapily Ltd.

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