Open Banking has over 8.5 million active users in the UK alone. The global market for these services reached $45.5 billion last year. These statistics show how data sharing is reshaping consumer finance and driving economic growth.
Key Takeaways
- 75% of UK Open Banking users save time on financial management
- Open Banking market in Europe expected to reach €19 billion by 2025
- 250+ new Open Banking products launched in UK 2023
- UK Open Banking has over 8.5 million active users as of Q2 2023
- Open Banking fraud rate under 0.1% in UK
Open Banking adoption is accelerating, with more consumers sharing data to unlock better services and pricing.
Related reading
01 · Category
Consumer Engagement27 stats
01
75% of UK Open Banking users save time on financial management
02
68% of consumers feel more in control with Open Banking
03
Open Banking apps used by 15% of UK adults weekly
04
82% of users trust Open Banking security
05
40% of users switch providers easier via Open Banking
06
Brazil Open Finance users report 50% better budgeting
07
60% EU consumers want Open Banking for personalised advice
08
Australia CDR users save average $200/year on finance
09
India AA users access 20% more financial products
10
55% US consumers interested in Open Banking credit scores
11
Mexico users 70% satisfied with Open Banking apps
12
Spain 65% use Open Banking for payments
13
Singapore 45% consumers use Open Banking budgeting tools
14
80% Brazil users recommend Open Finance services
15
UK SMEs 50% use Open Banking for cashflow
16
Hong Kong 55% users find payments faster
17
Germany 62% consumers value data portability
18
Japan 40% use Open Banking for investments
19
Canada 70% support Open Banking for better rates
20
France 58% users engage with aggregators
21
Nigeria 65% youth use Open Banking remittances
22
South Africa 50% consumers trial Open Banking
23
Netherlands 75% satisfied with consent management
24
Indonesia 60% use for loan comparisons
25
Italy 55% find insurance cheaper via Open Banking
26
Sweden 70% use for account switching
27
UAE 62% users access personalised offers
Interpretation
Consumer Engagement Interpretation
Open Banking is stitching a global financial quilt where every patch—from Brazil's budgeting to Britain's saved time—proves we're finally sewing our scattered money lives into something we can actually control.
02 · Category
Economic Impact27 stats
01
Open Banking market in Europe expected to reach €19 billion by 2025
02
Global Open Banking market size $45.5 billion in 2023
03
UK Open Banking created £4.3 billion economic value in 2022
04
Open Banking to add $55 billion to EU GDP by 2025
05
Brazil Open Finance market projected at $10 billion by 2027
06
Open Banking payments volume $1.2 trillion globally in 2023
07
15% reduction in lending costs via Open Banking data
08
$23 billion investment in Open Banking fintechs since 2018
09
Australia CDR to unlock $2.2 billion SME finance
10
Open Banking drives 20% increase in fintech revenues
11
India AA framework to save $1 billion in KYC costs annually
12
US Open Finance market to hit $10 billion by 2028
13
Mexico Open Banking to grow at 25% CAGR to 2027
14
Open Banking adds 5% to bank profitability in Europe
15
Singapore Open Banking to contribute $1.5 billion GDP
16
30% faster loan approvals reduce SME default rates by 10%
17
Hong Kong Open API saves banks $500 million in costs
18
Germany Open Banking market $2.5 billion in 2023
19
Japan Open Banking to reach ¥1 trillion by 2025
20
Canada Open Banking expected $5 billion value by 2025
21
France Open Banking revenues up 25% to €1.2 billion
22
Nigeria Open Banking to boost GDP by 1%
23
South Africa Open Banking market $800 million by 2026
24
Indonesia Open Finance $3 billion opportunity
25
Italy Open Banking $1.8 billion market 2023
26
Sweden Open Banking contributes SEK 10 billion annually
27
UAE Open Finance to attract $2 billion investments
Interpretation
Economic Impact Interpretation
Behind the unglamorous plumbing of Open Banking lies a global financial remix, where data-sharing quietly shifts trillions, lifts economies by percentage points, and turns bureaucratic friction into a multi-billion-dollar symphony of saved costs and created value.
03 · Category
Innovation and Products25 stats
01
250+ new Open Banking products launched in UK 2023
02
Variable Recurring Payments (VRP) adopted by 5 million UK users
03
1,200 Open Banking apps available globally
04
Open Banking enables 30 new fintech categories
05
Brazil phase 4 introduces payroll portability for 20 million
06
EU Open Banking insurance products up 40%
07
Australia CDR accreditation for 100+ providers
08
India AA supports 50 financial apps
09
US Plaid connects 12,000 institutions via Open Banking
10
Mexico 50 Open Banking products in pilot
11
Spain PSD2 spawned 400 TPPs
12
Singapore 20 Open Banking use cases live
13
100 Open Finance products in Brazil 2023
14
UK Open Banking pensions dashboard integrates 2,000 schemes
15
Hong Kong 15 cross-border Open API products
16
Germany 200 embedded finance solutions
17
Japan 50 Open Banking services approved
18
Canada 10 proposed Open Banking standards
19
France 150 Open Banking fintechs
20
Nigeria 30 payment initiation products
21
South Africa 25 Open Banking prototypes
22
Indonesia 40 Open Finance dashboards
23
Italy 80 AIS/PIS products
24
Sweden 50 bank-API integrations
25
UAE 10 Open Finance pilots
Interpretation
Innovation and Products Interpretation
It seems the entire world is rushing to open its financial vaults, proving that when you give people a digital key instead of a locked door, they’ll not only peek inside but build a whole new room onto the house.
More related reading
04 · Category
Market Adoption29 stats
01
UK Open Banking has over 8.5 million active users as of Q2 2023
02
331 Third Party Providers (TPPs) are authorised in the UK Open Banking ecosystem
03
Open Banking API calls in the UK reached 2.4 billion in 2022
04
72% of UK consumers are aware of Open Banking
05
Over 300 financial institutions participate in UK Open Banking
06
Brazil's Open Banking has 28 million users after phase 3 rollout in 2022
07
65% of European banks have implemented Open Banking APIs
08
Australia's Consumer Data Right has 1.5 million data holder consents granted
09
India’s Account Aggregator framework has over 500,000 transactions monthly
10
45% of US fintechs use Open Banking data
11
Mexico's Open Banking pilot reached 10 million accounts in 2023
12
55% of Spanish consumers use Open Banking services
13
Singapore's Open Banking has 50 licensed providers
14
80 million Open Finance accounts in Brazil by end of 2023
15
40% adoption rate among UK SMEs for Open Banking payments
16
Hong Kong Open Banking 2.0 has 20 participating banks
17
35% of German consumers engaged with Open Banking apps
18
Japan’s Open Banking framework has 100+ APIs live
19
Canada’s Open Banking consultations show 60% public support
20
25% of French banks report high Open Banking usage
21
Nigeria’s Open Banking has 15 licensed providers
22
50 million API calls per month in EU PSD2 ecosystem
23
South Africa’s Open Banking sandbox tested 20 use cases
24
60% of Dutch consumers trust Open Banking
25
Indonesia’s Open Finance initiative has 10 million users
26
70% of Italian TPPs report growth via Open Banking
27
Sweden’s Open Banking has 90% bank coverage
28
UAE Open Finance framework live with 5 banks
29
42% YoY growth in Open Banking accounts in UK
Interpretation
Market Adoption Interpretation
The UK’s Open Banking ecosystem, already embraced by over 8.5 million active users and growing at 42% annually, demonstrates how a regulated framework can turn cautious consumer awareness into vibrant, real-world adoption while other nations race to catch up.
05 · Category
Security and Compliance21 stats
01
Open Banking fraud rate under 0.1% in UK
02
99.9% API uptime across UK Open Banking
03
PSD2 Strong Customer Authentication adopted by 95% EU banks
04
Zero successful data breaches in Brazil Open Finance phases 1-3
05
Australia CDR mandatory encryption for all data
06
India AA zero-knowledge proofs used in 100% consents
07
100% TPPs licensed in UK Open Banking
08
Mexico Open Banking complies with 25 security standards
09
Singapore MAS mandates API security tiering
10
98% consumer consent revocation success rate UK
11
Hong Kong Open API audits every 6 months
12
Germany BaFin approves 150 TPPs with full compliance
13
Japan FSA requires ISO 27001 for Open Banking
14
Canada Open Banking privacy impact assessments mandatory
15
France ACPR fines 5 non-compliant TPPs in 2023
16
Nigeria CBN revokes 3 TPP licenses for breaches
17
South Africa PA mandatory data protection rules
18
Indonesia OJK enforces 99% uptime SLA
19
Italy 100% PSD2 compliance audits passed
20
Sweden FI GDPR alignment 100% for Open Banking
21
UAE CBUAE cybersecurity framework covers Open Finance
Interpretation
Security and Compliance Interpretation
This global patchwork of formidable security, relentless uptime, and iron-clad regulations proves that while Open Finance is built on data, it's fortified by an overwhelming culture of compliance paranoia.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Emilia Santos. (2026, February 13). Open Banking Statistics. Gitnux. https://gitnux.org/open-banking-statistics
MLA
Emilia Santos. "Open Banking Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/open-banking-statistics.
Chicago
Emilia Santos. 2026. "Open Banking Statistics." Gitnux. https://gitnux.org/open-banking-statistics.
Sources & references
73 datasets cited across this report · attribution is report-level