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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- 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.
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