Evolve Business Intelligence has published a new market research report on “Global Open Banking Market with the impact of COVID-19, Global and Segmental Analysis”. According to the report, the global open banking market is expected to grow from $12.6 billion in 2020, and is expected to reach $43.15 billion by 2028, growing at a CAGR of 24.4% in 2021 to 2028.

For more information on the report: https://report.evolvebi.com/index.php/sample/request?referer=parity&reportCode=010648

The COVID-19 pandemic has caused supply chain disruption, leading to lower demand or supply shortages in the open banking market. Travel restrictions and social distancing measures have led to a sharp drop in consumer and business spending and this trend is expected to continue for some time. The trend and preferences of end users have changed due to the pandemic and led manufacturers, developers and service providers to adopt various strategies to stabilize the business.

In terms of the impact of COVID 19, the Open Banking market report also includes the following data points:

• COVID19 Impact on Open Banking Market Size
• Trend of end user/industry/application and preferences
• Government policies/regulatory framework
• Strategy of key actors to fight against negative impacts / post-COVID strategies
• Opportunity in the open banking market

Analyst View

According to Lekha, Principal Analyst, Evolve Business Intelligence, “The open banking market has seen significant growth during the current covid 19 situations. With the lockdown imposed to contain the spread of novel coronavirus, government around the world has encouraged cashless payments. In addition, growth in online business during this period is expected to fuel demand for open banking applications.”

Competitive scenario
Some of the major Open Banking players with considerable market share are Credit Agricole, DemystData, Finastra, and Formfree. These players are using partnership and collaboration as the key strategy to gain significant market share to compete with the market leaders.

Segmental analysis
The objective of the report is to provide a holistic overview of the market based on financial services and distribution channel. Based on financial services, the open banking market is segmented into banking and capital markets, payments, digital currencies, and value-added services. The open banking market is segmented on the basis of distribution channel into banking channel, application market, distributors and aggregators.

Report cover
The study also contains a complete value chain, along with details of the major factors affecting market growth (drivers, restraints, and opportunities). In addition, the report includes 10 key players in the Open Banking market ecosystem that have been strategically profiled along with the ranking/market share of key players. In the Company Profile section, the company’s core competencies have been thoroughly analyzed along with the competitive landscape of market players and strategies such as partnerships and collaboration, acquisitions, launches and product developments, contracts and business expansion adopted by them. to grow in the market.

The key players profiled in the report are:

• Agricultural credit
• DemystData
• Figo GmbH
• Finastra
• FormFree
• Jack Henry & Associates, Inc.
• Mambu GmbH
• MineralTree Inc.
• NCR Company
• Open Platform BBVA Inc.

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Research Methodology
This research study makes substantial use of secondary sources, archival records, and databases (such as annual reports, press releases, magazines, trade maps, company websites, and other databases). paid data) to classify and gather useful information for this analysis. The whole process involves a review of the financial records of key industry participants. After determining the overall market size, the total market was divided into several segments and sub-segments, and this information was further verified by key industry specialists such as CEOs, Directors, VPs. presidents and marketing managers.

Report objectives

• To define, describe and forecast the Open Banking market, in terms of value, segmented on the basis of indication, type, technology and geography
• Forecast market size in 4 key regions: Asia-Pacific (APAC), North America, Europe and Rest of the World (RoW)
• To provide in-depth insights into Open Banking Market drivers, restraints, and opportunities
• Provide an overview of value chain analysis relating to the open banking industry
• Strategically analyze each segment and sub-segment with respect to individual overall growth trends and its contribution to the overall Open Banking market
• To analyze market opportunities by identifying high growth segments of the Open Banking Market
• Profile key players in the open banking market and thoroughly analyze their core competencies
• Analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions made in the global open banking market

About EvolveBI

Evolve Business Intelligence is a market research, business intelligence and consulting firm that provides innovative solutions to tough business problems. Our market research reports include data useful for micro, small, medium and large businesses. We provide solutions ranging from simple data collection to business consulting.

Evolve Business Intelligence is built on the foundation of technological advancements providing highly accurate data through our in-house AI modeled data analysis and forecasting tool – EvolveBI. This tool tracks real-time data, including quarterly performance, annual performance, and recent developments for Fortune 2000 global companies.

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