Open Banking APIs - State of the Market

About the series

Welcome to the first of the series of articles on Open Banking APIs - State of the Market . The multi-part series of articles will cover a broad range of topics relating to the fast evolving Open Banking APIs.

In this article we look at the current state of the market, the providers of Open Banking APIs and the spectrum of services offered by them. In future articles we expect to provide comparisons of the various market offerings and tips / guidance for organisations implementing such platforms.

OpenBankingAPIs.io

OpenBankingAPIs.io is dedicated to bringing you the most uptodate information on Open Banking initiatives and platforms globally, and serving as a directory of services. From time to time we will also provide you market updates, research and surveys. We have provided quick and easy links that let you access global, regional, country or bank level information. Try them out:

Open Banking - State of the Market

Our directory currently lists 30+ organisations offering Open Banking and API services. These include platforms built specifically by banks, regulatory sandboxes as well as vendor / Fintech offerings. A complete list can be found at the site OpenBankingAPIs.io. You can register at the site to get regular updates.

1

ABN Amro

2

Absa (Barclays Africa)

3

Adam Bank

4

Allied Irish Bank

5

Australian Payments Council

6

Bank of Ireland

7

Barclays Bank PLC

8

BBVA

9

BNP Paribas

10

Bunq

11

Capital One

12

Citi Bank

13

Coutts

14

Credit Agricole

15

Danske Bank

16

Emirates NBD

17

Esme

18

First Trust Bank

19

Halifax

20

Hellenic Bank

21

HSBC Bank

22

Lloyds Bank

23

Maybank (Malaysia)

24

National Australia Bank

25

Nationwide

26

Natwest

27

Nordea

28

OCBC Bank (Singapore)

29

Open Bank Project

30

Royal Bank of Scotland

31

Santander

32

Saxo Bank

33

Societe Generale

34

Standard Chartered

35

Starling Bank

36

Swedbank

37

TipsGo

38

Ulster Bank

39

Yes Bank

Market Division

The Open Banking API providers can be broadly categorised into five major groups.

  1. Group 1 are UK banks following the Competition & Markets Authority (CMA) mandate. These include banks such as Bank of Ireland, Barclays, HSBC, RBS, Halifax etc. A full list of these banks may also be found here: openbankingapis.io/?tag=uk-open-banking
  2. The second group are banks that are following the PSD2 track and providing Account Information and Payment Initiation plus other Banking/Payments APIs. BBVA for example, offers an Alipay API. Other banks in this group include Nordea, Hellenic Bank, ABN Amro, Citibank & Deutsche Bank.
  3. Group 3 is mainly digital startup banks who offer APIs as part of their core digital platforms. Examples include Starling bank & Bunq.
  4. Group 4 are banks that offer a much broader set of APIs that include domains such as Trade and Insurance/Wealth Management. These include Maybank, OCBC and Saxo Bank.
  5. Group 5 are generic Open Banking platform providers, who are mainly helping banks accelerate their digital innovation initiatives. These include: Open Banking Project , and TipsGo - Open Banking Platform.

Next up

In the upcoming article (Part 2), we will take a closer look at the range of capabilities offered by the different Open Banking API platforms.

If you are an Open Banking provider and would like to be featured in our directory, please contact us at promote@openbankingapis.io.

Open Banking APIs Team