1. Market Research
  2. > Financial Services
  3. > Banking Market Trends
Open Banking, 2021 Update - Thematic Research

Open Banking, 2021 Update - Thematic Research

  • November 2021
  • 41 pages
  • ID: 6196345
  • Format: PDF
  • GlobalData


Table of Contents

Search Inside

Open Banking, 2021 Update - Thematic Research

Open banking is a clear global trend, but paths and progress vary markedly depending on whether openness is delivered top-down, bottom-up, or with some combination of the two. It’s not just the style of intervention that differs, but the scope also, with substantial variations evident regarding which entities and products they apply to, what information is accessible by third parties - such as transactional information, product data, or aggregated statistics - and whether operations, such as account-to-account payments or contracting new products, are included.

However, wherever open banking does happen, it presents the same opportunity: multiple routes to market. Leading banks will operate in multiple modes concurrently: direct-to-consumer, with open banking-enhanced onboarding, credit assessment, etc.; as-a-service, by isolating pieces of otherwise fixed-cost infrastructure and distributing business-to-business; marketplace seller, whereby providers distribute their products through third partners; and platform owner, the inverse of the former, whereby incumbents will offer best-of-breed products across their entire ecosystem - and not just with financial products but a hub to support broader life goals.

This report discusses the disruptive potential of open banking in consumer financial services as well as related initiatives in other industries leading toward ‘open data.’ It covers the key gridlines of change - in terms of key technology, macroeconomic, and regulatory trends - then looks at how paths and progress toward open banking vary across countries. Analysis includes a timeline of how the theme has developed, key M&A activity, and firm-level analysis of which providers, both incumbents and new entrants, are best positioned to succeed as the theme evolves.

- The UK has the highest number of open banking licenses issued to payment initiation service providers (PISPs), which enable users to withdraw money directly from their accounts; same for account information service providers (AISPs), which let users see all their payment account information from different bank accounts in one place (i.e., aggregation).
- Globally, 70% of 75+ customers do not want third-party access to accounts regardless of what the service benefit may be (insight, credit, etc.), with that number falling to 20% for younger customers.
- Where customers do want open banking, it’s primarily for heightened security, such as more secure online payments through PISPs for online purchases.

Reasons to Buy
- Understand key technology, macroeconomic, and regulatory trends characterizing open banking.
- Access the latest consumer survey data on evolving channel behavior, provider preferences, and product holdings.
- Identify the leading digital transformation efforts based on cost income and customer satisfaction metrics.
- Access firm-level/case study insights on leading players within the open banking theme.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.


Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on