Global Mapping and Infographic of Key Players in the Open Banking Ecosystem 2020–2021

The Paypers releases the Who`s Who in Open Banking report - the global infographic and industry mapping of key players in the Open Banking ecosystem

Open Banking and data sharing have changed the dynamics of competition and lead to the emergence of new players within the Open Banking ecosystem as well as new business models. By partnering with these players, financial institutions are provided with the technology, expertise, and vision to drive new Open Banking use cases for consumers and businesses. Also, these strategic partnerships are vital to creating new revenue models, capitalising on the opportunity, and addressing the disruptive threat head on. 

An INNOPAY and The Paypers Open Banking survey, which was conducted in May 2020 amongst over 2000 financial institutions and banks, shows that most financial institutions don’t yet know what Open Banking can do for them. Moreover, the survey brought to light the need for guidance concerning who is who in Open Banking and a clear overview of key players in the ecosystem.

With more and more Open Banking promises, financial institutions need to better understand their customers, all the segments, allowing for more tailored offers and propositions. Moreover, financial institutions must keep track of these new Open Banking tech providers, be aware of them, and choose the right Open Banking partner in their digitalisation journey. 

With this in mind, we created a global scale outlay of the global Open Banking ecosystem in the guise of a thorough infographic and industry mapping of the key solution providers in Open Banking.

The global industry mapping delineates 8 core categories in Open Banking, as follows:

• Open Banking enablers;
• API connectivity for payment initiation;
• API connectivity for data retrieval & value-added data solutions and services;
• Consent management;
• Third-party providers checking and repository;
• End-user solutions and propositions;
• Fraud/risk/security;
• Bank in the box/banking-as-a-service/core banking infrastructure.

Download our mapping of the global key players’ ecosystem and discover the lengthy array of services and solutions that Open Banking players are offering in their quest to keep up with the ever-changing customer needs and expectations. We offer our readers an educational, exhaustive infographic, allowing them the opportunity to learn about the industry’s future perspectives and helping financial institutions and businesses choose the right Open Banking partner and solution provider.