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Open Banking Solutions Market worth $11.7 billion by 2028 – Exclusive Report by MarketsandMarkets™




CHICAGO, March 13, 2024 /PRNewswire/ — The Open Banking Solutions Market will grow internationally in the future due to changing rules, more cooperation, and integration with cutting-edge technologies. In order to promote financial inclusion, prioritise security and trust, and concentrate on customer-centric solutions, broader use cases, and improved data analytics, it will push ongoing innovation in the financial services sector.

The Open Banking Solutions Market size is expected to grow from USD 5.5 billion in 2023 to USD 11.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period, according to a new report by MarketsandMarkets™. Stringent regulations like PSD2 and CMA Order drive adoption of the market, innovations in APIs, data analytics, and cybersecurity, and Fintech companies offering agile solutions that disrupt traditional banking models are a few fundamental driving forces to leverage Open Banking solutions adoption across verticals and regions.

Browse in-depth TOC on “Open Banking Solutions Market”

250 – Tables
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210 – Pages

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Scope of the Report

Report Metrics


Market size available for years


Base year considered


Forecast period


Forecast units

Value (USD Billion)

Segments Covered

Offering, Solutions, Services, Application, Digital channel, Deployment Model, and End users

Regions covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Plaid (US), Envestnet (US), MX technologies (US), Finicity (US), Tink (Sweden), Worldline (France), Trustly (Sweden), Axway software (US), (UK), Temenos (Switzerland), Fabrick (Italy), Intuit (US), ndgit (Germany), Akana (US), Yapily (UK), Salt Edge (Canada), (Germany), Fiorano (US), TrueLayer (UK), Bud Financial (UK), OpenPayd (UK), Finastra (UK), Google (US), Sopra Banking software (France), BBVA (Spain)

The managed services segment will record a higher CAGR by services during the forecast period.

Managed services play a vital role in the Open Banking Solutions Market by offering comprehensive support throughout the lifecycle of available banking platforms. Support and maintenance services ensure systems’ continuous functionality and reliability, addressing technical issues and facilitating software updates. Concurrently, performance monitoring and optimization services track system performance, identify bottlenecks and optimize operational efficiency, enabling organizations to deliver seamless and responsive user experiences. Additionally, managed services assist in vendor selection and procurement, aiding organizations in choosing suitable technology partners and negotiating contracts. This involves evaluating vendors based on their capabilities, security protocols, and compliance with regulatory requirements. By leveraging managed services in open banking, businesses can streamline operations, enhance system performance, and make informed decisions in vendor selection, ultimately ensuring their open banking initiatives’ sustained success and resilience.

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Based on the Application segment, Payment holds the largest Open Banking Solutions Market share during the forecast period.

Payment services are a cornerstone of open banking solutions, revolutionizing transactions and enhancing the overall customer experience. By leveraging open banking APIs, third-party providers (TPPs) gain secure access to customer accounts, enabling seamless payment initiation directly from bank accounts. This facilitates a wide range of payment options, including peer-to-peer transfers, bill payments, and online shopping, all executed with unprecedented speed and convenience. Furthermore, open banking fosters competition and innovation in the payment space as TPPs develop new and innovative payment solutions that cater to specific consumer needs and preferences. With real-time access to account data and enhanced security measures, open banking payment services offer consumers greater control, transparency, and confidence in their financial transactions. As a result, payment solutions within the open banking ecosystem drive efficiency, convenience, and trust, ultimately reshaping how individuals and businesses interact and transact in the digital economy.

By region, the Middle East & Africa region recorded the highest CAGR during the forecast period.

The Middle Eastern countries are rapidly adopting technological advancements and investing in knowledge-based economies. Saudi Arabia and the UAE are leading the way in adopting API management, leading to their development dominance. As Middle Eastern organizations focus on generating revenue and outsourcing to third-party managed service providers, adopting Open Banking solutions is accelerating in the region to reduce costs and save time.

The Middle East & Africa (MEA) region, the Open Banking Solutions Market is gradually emerging as a transformative force in the financial industry. While the adoption of open banking is still in its early stages compared to other regions, there is growing momentum driven by regulatory initiatives, technological advancements, and changing consumer behaviors. Regulatory bodies in several MEA countries are exploring frameworks to promote open banking to increase competition, improve financial transparency, and enhance customer choice. Fintech startups and traditional banks are beginning to collaborate to leverage open banking APIs and develop innovative financial products and services. Key focus areas include digital payments, peer-to-peer lending platforms, personal finance management tools, and digital identity solutions. As awareness and understanding of open banking grow in the MEA region, it is expected to catalyze further innovation, drive financial inclusion, and transform how people access and manage their finances.

Top Key Companies in Open Banking Solutions Market:

Some of the key players operating in the Open Banking Solutions Market are Plaid (US), Envestnet (US), Tink (Sweden), Finicity (US), Trustly (Sweden), MX Technologies (US), Worldline (France), (UK), Temenos (UK), among others.

Recent Developments

  • In February 2024, MX Technologies partnered with Trustly, intending to integrate MX’s data enhancement services into Trustly’s Open Banking product suite, thereby enriching the payment experiences of 8,300+ international merchants and their consumers who utilize Trustly’s ‘Pay with Bank’ method. Using its proficiency in open finance APIs, Trustly will assist businesses in maximizing the potential of their financial data. Merchants can delve deeper into consumer behaviors by refining and categorizing transaction data, obtaining more accurate insights. This service empowers merchants to deliver personalized marketing promotions and loyalty programs, enriching the consumer journey and nurturing stronger bonds between merchants and their clientele.
  • In January 2024, Risk Signals was launched by Tink, which conducts real-time risk checks during the payment process. Risk Signals provides a quick assessment of transactions in seconds while the payer progresses through the payment process, resulting in less disruption to the user experience. Risk Signals formulates a suite of demonstrated risk checks for each bank and market based on Tink’s pan-European bank connectivity. Risk Signals’ key features are live balances for real-time verification of a user’s ability to pay, transaction history to assess fraud risk, and velocity checks to mark suspicious transaction activities.
  • In October 2023, Plaid entered into a deal with Fiserv to enable secure and reliable data sharing through APIs while addressing growing consumer demand to access their financial information according to their suitable time, location, and manner. With this deal, consumers who bank with nearly 3,000 bank and credit union clients hosted by Fiserv will now have secure, credential-less API-based connectivity to more than 8,000 applications and services on the Plaid network via Fiserv’s AllData Connect, allowing consumers to share their financial information with the third-party financial apps and services of their choice.
  • In October 2023, Envestnet launched its embedded investment solution to provide a digitalized process for banks, credit unions, and financial advisors that will offer investing solutions within their (the banks, credit union entities) own apps and websites to customers within their existing banking experience. The service, consisting of diversified portfolios invested in exchange-traded funds (ETFs) and optional thematic stocks, enables financial institutions to retain deposits within their ecosystem and serve smaller account sizes digitally.
  • In June 2023, Financial institutions and fintech firms can now exchange vital fraud intelligence across Plaid thanks to the launch of Beacon by Plaid, a cooperative anti-fraud network.

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Open Banking Solutions Market Advantages:

  • Open banking solutions make it possible for financial data and services to be seamlessly integrated across a variety of platforms, giving clients a streamlined, individually designed banking experience.
  • By allowing third-party developers to use open APIs (Application Programming Interfaces) to create creative financial products and services, open banking promotes a more competitive environment. Customers benefit from more options and value as a result.
  • Open banking gives users access to a greater range of financial services and products, such as loan comparison tools, investing platforms, and budgeting applications, by allowing them to safely share their financial data with approved third parties.
  • By combining financial data from several banks and financial organisations onto a single platform, open banking solutions make account aggregation easier and give users a comprehensive picture of their money.
  • By enabling businesses to begin payments directly from consumers’ bank accounts, open banking APIs reduce dependency on conventional payment methods like credit cards and checks and enable faster and more efficient payments and transactions.
  • Through creative financial products and services, open banking solutions provide affordable substitutes for traditional banking services, enabling companies to optimise operations, save transaction costs, and enhance cash flow management.
  • Financial institutions can access real-time financial data and insights through open banking systems, which improves risk assessment and management procedures for lending, investing, and compliance.
  • By offering safe APIs for data sharing and transaction initiation, open banking solutions assist financial institutions in adhering to regulatory obligations such as the PSD2 (Revised Payment Services Directive) in Europe and other rules of a similar nature worldwide.

Report Objectives

  • To define, describe, and forecast the Open Banking Solutions Market based on offering, application, digital channel, deployment model, end user, and region
  • To offer comprehensive details regarding the primary variables impacting the market’s growth (drivers, restraints, opportunities, and challenges)
  • To determine the high-growth market sectors in order to assess the opportunities for stakeholders in the market
  • To forecast the market size with respect to five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America
  • To analyze the subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market
  • To profile the key players of the market and comprehensively analyze their market size and core competencies
  • To track and analyze the competitive developments, such as product enhancements, product launches, acquisitions, partnerships, and collaborations, in the Open Banking Solutions Market globally.

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Fintech PR

Invitation to presentation of EQT AB’s Q1 Announcement 2024




STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs



  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update




VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (, a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit and connect with us on X and LinkedIn.


Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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