Will monthly open banking API calls reach 20bn by December 2022? Our data projections look at the possible scenarios over the next two years.
Since the implementation of PSD2 open banking a year ago, the number of Third-Party Providers (TPPs) across the EEA has more than doubled. Passporting ‘rules’ mean that these third parties can offer their services outside their ‘Home’ regulated country enabling them to take advantage of the opportunities this cross-border flexibility brings.
At the end of August 2020, every country in the EEA had at least 62 TPPs approved to provide services, and monthly opening banking API volumes across the region reached an estimated 1.5bn.
This report analyses volumes over the next two years based on open banking adoption rates ranging from 5% to 20%, as well as looking at the time it will take selected countries to reach the numbers being reported in the UK today.
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