Cover Image
Market Research Report

Open Banking: Opportunities, Challenges & Market Forecasts 2020-2024

Published by Juniper Research Ltd Product code 937132
Published Content info
Delivery time: 1-2 business days
Price
Back to Top
Open Banking: Opportunities, Challenges & Market Forecasts 2020-2024
Published: May 19, 2020 Content info:
Description

Overview

Juniper Research's new ‘Open Banking ’ data report provides a detailed examination of how this trend is disrupting established relationships and channels in the banking ecosystem. The report also includes an extensive regional analysis of Open Banking, in terms of vendor strategy, deployments to date and future potential. The research includes extensive forecast data on the Open Banking ecosystem to inform strategic planning.

The research report also assesses how the introduction of BaaS (Banking-as-a-Service), which is reliant on APIs, is having a dramatic effect on the market; enabling traditionally non-banking players to make inroads into the banking market. The research provides best practice recommendations based on these trends, and an outlook of what these disruptions mean for the entire banking market.

This research suite comprises:

  • Strategy & Forecasts (PDF)
  • 5-Year Deep Dive Data & Forecasting (PDF/IFxl)
  • 12 months' access to harvest online data platform

Key Features

  • Market Dynamics: Detailed analysis of the current state of the Open Banking market and future outlook, examining:
    • Open Banking Challenges & Opportunities
    • Open Banking & Implications for Fraud
    • BaaS Challenges & Opportunities
  • Regional Analysis: Extensive regional analysis of Open Banking adoption and prospects for future growth, across Juniper Research's 8 key regions.
  • Juniper Research Leaderboard: Key player capability and capacity assessment for 15 BaaS vendors:
    • 11FS
    • Bankable
    • Bankmobile
    • BBVA Open Platform
    • Cambr
    • ClearBank
    • Cross River
    • Fidor Solutions
    • Green Dot
    • Marqeta
    • Singular Banking
    • Solarisbank
    • Starling Bank
    • Tieto
    • Treezor
  • Benchmark Industry Forecasts: Provided for the size and growth of Open Banking, including user adoption, volume of API information calls via Open Banking, and transaction volumes and values of payments via Open Banking.

Key Questions

  • 1. What are the regional differences in how Open Banking is rolling out across the world?
  • 2. What are the key trends influencing the evolution of the banking market?
  • 3. What impact will fraud have on the Open Banking landscape?
  • 4. What impact regulator involvement will have on open banking deployment?
  • 5. What effect will the introduction of BaaS have, and what are the leading platforms?

Companies Referenced

  • Interviewed: Bankable, Experian, Tink.
  • Profiled: 11:FS, BankMobile, BBVA Open Platform, Cambr, ClearBank, Cross River, Fidor Solutions, Green Dot, Marqeta, Singular Banking, solarisBank, Starling Bank, TietoEVRY, Treezor.
  • Case Studied: Emma, Experian, Tink.
  • Mentioned: 7 Eleven, ABN AMRO, ACCC (Australian Competition and Consumer Commission), AccountNow, ACI Worldwide, ADIB, AIFC, AlBakaram, Allpoint, Amazon, American Express, Aplazame, Apple, Arkea Banking Services, Arvato Financial Solutions, Association of Banks, Auka, Azlo, Banco Central do Brasil (the Central Bank of Brazil), Barclaycard, BNP Paribas, Borse Stuttgart, Caixa Geral de Depósitos, Catch, Central Bank of Turkey, Cisco, Citibank, Coinbase, Connected Money, Customers Bank, CyberSmart, Data61, Dell Technologies, Deutsche Bank, Digit, Digital Risks, Ditto Bank, DNB, Dozens, DXC Technology, EBA, EPAM, equensWorldline, Facebook, FCA, Federal Reserve, Fidor Bank, Finleap, Flux, FreeAgent, GoBank, Goldman Sachs, Google, Group BPCE, Growth Street, HPE, IBM, Instagram, Intuit Turbotax, Joust, JP Morgan Chase, Klarna, Kmart, Konsentus, Kontist, Kraft Bank, Lakestar, LendKey, Libeo, Lunar, Lunchr, Lydia, Marginalen Bank, MAS (Monetary Authority of Singapore), Mastercard, MBNA, McAfee, Microsoft, Modo, Molo, MoneyLion, MoneyPak, Morning, N26, National Bank of Rwanda, Nationwide Building Society, Natixis, Nimbla, O2 Banking, OakNorth, Office of Comptroller of Currency, Oracle, PayPal, PayStream, pENSIONbEE, Plaid, Q2, Qapital, Qonto, QuickBooks, RapidPay, RBI, Red Hat, Royale Oceanic, RushCard, Salesforce, Samsung, SAP, SBI Group, SEB, Seed, Simple, Smava, Société Générale, Sodra, So sure, Sparqa Legal, Standard Chartered Bank, Stash, StoneCastle, SWIFT, Tail, TD Bank, Tide, T-Mobile, Token, Tomorrow, Trade Republic, Transact Payments, Trestle Group, Uber, UK Faster Payments, UK Open Banking, UnderPinned, Van Lanschot, Visa, VMWare, Walmart, WealthSimple, WeChat, Wise, World Bank, Xero, YAPEAL, Yolt.

Data & Interactive Forecast

Juniper Research's ‘Open Banking ’ forecast suite includes:

  • Forecast splits for 8 key regions, as well as 12 country-level data splits for:
    • Canada
    • China
    • Denmark
    • France
    • Germany
    • India
    • Norway
    • Portugal
    • Spain
    • Sweden
    • UK
    • US
  • Open Banking forecasts for:
    • Total Open Banking Users
    • Total Number of Open Banking Information API Calls
    • Total Volume & Value of Payments via Open Banking
  • Interactive Scenario Tool allowing users to manipulate Juniper Research's data for 5 different metrics.
  • Access to the full set of forecast data of 12 tables and more than 1,700 datapoints.

Juniper Research's highly granular IFxls (interactive Excels) enable clients to manipulate our forecast data and charts to test their own assumptions using the Interactive Scenario Tool, and compare select markets side by side in customised charts and tables. IFxls greatly increase clients' ability to both understand a particular market and to integrate their own views into the model.

Table of Contents

Table of Contents

1. Open Banking Market Dynamics

  • 1.1. Introduction
  • 1.2. Current Banking Market Status
    • 1.2.1. Banking Market Still Gripped by Uncertainty
      • Figure 1.1: GDP per Capita, Constant US ($), Selected Countries, 2008-2019
      • Figure 1.2: US Banking Regulatory Framework
      • Figure 1.3: Smartphone Penetration (%), Split by 8 Key Regions, 2017-2024
      • Figure 1.4: Apple Card Interface
  • 1.3. Introduction to API Banking
    • 1.3.1. Market Disruption: Open Banking in 2020
      • Case Study: Emma App
    • 1.3.2. Open Banking Opportunities
      • Figure 1.5: Open Banking Opportunity & Challenges to Consider
      • i. Opportunities
      • ii. Challenges
        • Case Study: Tink
    • 1.3.3. Open Banking & Fraud
      • Case Study: Experian
  • 1.4. Open Banking: Regional Analysis
    • 1.4.1. North America
      • i. US
      • ii. Canada
    • 1.4.2. Latin America
      • i. Brazil
      • ii. Mexico
    • 1.4.3. West Europe
      • i. UK
        • Figure 1.6: Number of Successful Open Banking API Calls in the UK (m), 2019
      • ii. Germany
    • 1.4.4. Central & East Europe
      • i. Poland
      • ii. Turkey
    • 1.4.5. Far East & China
      • i. China
      • ii. Japan
      • iii. South Korea
    • 1.4.6. Indian Subcontinent
      • i. India
    • 1.4.7. Rest of Asia Pacific
      • i. Australia
      • ii. Singapore
    • 1.4.8. Africa & Middle East
  • 1.5. Market Disruption: Banking-as-a-Service
    • 1.5.1. Introduction
    • 1.5.2. BaaS Opportunities & Challenges
      • Figure 1.7: Banking-as-a-Service Opportunities & Challenges to Consider
      • i. Opportunities
      • ii. Challenges
      • iii. BaaS Outlook

2. BaaS Competitive Landscape: Vendor Analysis & Leaderboard

  • 2.1. Juniper Research Leaderboard
    • 2.1.1. Vendor Assessment Criteria & Limitations
      • i. Vendor Assessment Criteria
        • Table 2.1: Banking-as-a-Service Platform Vendor Capability Assessment Factors
        • Figure 2.2: Juniper Research Banking-as-a-Service Leaderboard
        • Table 2.3: Juniper Research Banking-as-a-Service Leaderboard Scoring Heatmap
    • 2.1.2. Vendor Groupings
      • i. Established Leaders
      • ii. Leading Challengers
      • iii. Disruptors & Emulators
      • iv. Limitations & Interpretation
  • 2.2. BaaS Vendor Profiles
    • 2.2.1. 11:FS Foundry
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.2. Bankable
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.3. BankMobile
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
        • Figure 2.4: T-Mobile MONEY App & Debit Card
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.4. BBVA Open Platform
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
        • Figure 2.5: BBVA Open Platform Launch Process
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.5. Cambr
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.6. ClearBank
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.7. Cross River
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
        • Figure 2.6: The Cross River Operating System
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.8. Fidor Solutions
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
        • Figure 2.7: FidorOS Core Features
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.9. Green Dot
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.10. Marqeta
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.11. Singular Banking
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.12. solarisBank
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.13. Starling Bank
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.14. TietoEVRY
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities
    • 2.2.15. Treezor
      • i. Corporate
      • ii. Geographical Spread
      • iii. Key Clients & Strategic Partnerships
      • iv. High Level View of Offerings
        • Figure 2.8: Treezor Core Features
      • v. Juniper Research's View: Key Strengths & Strategic Development Opportunities

3. Open Banking Market Forecasts

  • 3.1. Introduction
  • 3.2. Methodology & Assumptions
    • Figure 3.1: Open Banking Market Forecast Methodology
  • 3.3. Open Banking Forecasts
    • 3.3.1. Open Banking Users
      • Figure & Table 3.2: Number of Open Banking Users (m), Split by 8 Key Regions, 2020-2024
    • 3.3.2. Open Banking Information Requests
      • Figure & Table 3.3: Total Number of Open Banking Information API Calls per Annum (m), Split by 8 Key Regions, 2020-2024
    • 3.3.3. Open Banking Payments
      • Figure & Table 3.4: Total Value of Open Banking Payment Transactions per Annum ($m), Split by 8 Key Regions, 2020-2024
Back to Top