A new study from Juniper Research, the foremost experts in fintech & payments markets, has found the number of Open Banking API calls globally will increase 427%, from 137 billion in 2025. The report predicts artificial intelligence (AI) will become increasingly integrated with open banking offerings; creating personalised banking solutions for users for finance management and customisable loan allowances, driving the growth of API call volume.

AI Advancements Proliferating Open Banking

Juniper Research found that API vendors are increasingly utilising AI for open banking offerings, with generative AI (GenAI) unlocking personalisation at scale. As API quality requirements have increased, across Europe in particular, personalising services through GenAI will prove to be a highly effective strategy for vendors.

Research Author Matthew Purnell remarked: “API quality is more than mitigating call failures but also enabling services. Personalised products are a necessity for Open Banking, with AI ideal for the automation of solutions for users. Consequently, vendors must invest in GenAI solutions to not only enhance banking offerings, but to streamline businesses’ workloads.”

Vendors to Enter Emerging Markets

The report found that 2024 was a significant year for open banking regulatory developments, with the Open Finance African Group Framework launching in key African markets, and Saudi Arabia proceeding with phase 2 of its Open Banking Framework. Accordingly, the research identified Middle East & Africa as a key developing market, with high-growth potential as digital banking improves and regulatory ecosystems develop.

The research recommends that API vendors must work with regional banks and businesses beyond the developed European-centric focus, to access markets in the early growth phases, establishing new revenue streams.