Who`s Who in Open Banking 2021

Report, published: March 2021

The Paypers releases the 2021 update of the global infographic and industry mapping of key players in the Open Banking ecosystem 

Our market research made us realise that 2021 follows an unprecedented year of developments and innovation and this calls for an update. The Paypers noticed an never-ceasing emergence and growth of new and existing players in the Open Banking ecosystem and we wish to stay on top of the industry in terms of gaining and sharing knowledge. 

Financial institutions and businesses should welcome this global mapping and infographic as a most valuable resource because inside it we feature over 100 key Open Banking players (Europe, the UK, Asia-Pacific, Africa, the US, Canada, and Latin America).

Open Banking and data sharing act as a catalyst of innovation, sparking up the dynamics and competition which led to new players and business models to pop up across the globe. Financial institutions partner with players capable to provide the vision, tech, and expertise to drive new Open Banking use cases for consumers and businesses. This kind of strategic partnership is crucial in developing new revenue models, taking advantage of opportunities, and adjusting to disruptive business threats.

All began with the INNOPAY and The Paypers Open Banking survey, which was conducted in May 2020 amongst over 2000 financial institutions and banks. This survey showed financial institutions’ insecurities and concerns regarding Open Banking and its potential benefits. Also, the survey showcased a need within the market to shine a light on who is who in the Open Banking ecosystem and which are its key players.

Open Banking and digitalisation come with promises and financial institutions have to adjust to their customers’ needs in all the segments, to provide personalised offers and propositions. Furthermore, financial institutions have to be constantly aware of which are new Open Banking tech providers and keep track of them to choose the most suitable 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. 

If this delicious mapping opens (pun intended) your appetite, then we recommend the main course, our very own Open Banking Report 2020. Download it now to find out which global trends are at play, which are the key topics within the banking and fintech industry, and who leads the race in terms of innovation, regulation, and more.


Research Type Overview
Published 01 Mar 2021
Pages 12
File Type PDF
Size 7982kb
Geographic Scope    World
Editions Online & Mobile Banking