The Latin America, Middle East and Africa Open Banking Market would witness market growth of 27.5% CAGR during the forecast period (2022-2028).
It is anticipated that as technology develops and big data analytics as well as artificial intelligence (AI) become more prevalent, the use of open banking systems will rise. In the open banking industry, big data analytics are used to customize the services and improve the user experience, which is expected to draw in more clients. Additionally, open banking benefits from the whole value chain of the financial services sector, including consumers, businesses, Fintech companies, banks, as well as financial institutions.
A consumer in financial services receives access to high-quality banking services along with cutting-edge individualized financial products owing to the adoption of open banking throughout the sector since they have a number of options or service providers to choose from for their financial needs. Due to the surge in popularity of online payment systems, the open banking sector is growing. The market is expanding as a result of the shifting payment ecosystem, rising e-commerce platform usage, better broadband access, and increasing application programming interface (API) acceptance.
The National Bank of Rwanda has established a law to codify the method for mining and analyzing client data, and there is a growing market for financial technology in Rwanda. In Nigeria, API standards are being created for usage with bill payments, ATMs, direct debit, transaction history, and other scenarios. Banks and financial technology companies can now engage with their clients across Africa with the use of payment and communication APIs from organizations like Africa's Talking. Innovative banks and fintech firms are driving the Open Banking trend in South Africa. Hence, the growth of the regional market is estimated to flourish in the coming years.
The Brazil market dominated the LAMEA Value Added Services Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $74.2 million by 2028. The Argentina market is showcasing a CAGR of 29.4% during (2022 - 2028). Additionally, The UAE market would experience a CAGR of 28.7% during (2022 - 2028).
Based on Deployment, the market is segmented into On-premise and Cloud. Based on Distribution Channel, the market is segmented into App Markets, Bank Channels, Distributors, and Aggregators. Based on Services, the market is segmented into Banking & Capital Markets, Payments, Digital Currencies, and Value-added Services. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Open Banking Market is Predict to reach $75.7 Billion by 2028, at a CAGR of 24.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Banco Bilbao Vizcaya Argentaria SA, Finastra Group Holdings Limited, NCR Corporation, Crédit Agricole CIB, Demyst Data, Ltd., Finleap connect GmbH, FormFree Holdings Corporation, Jack Henry & Associates, Inc., Mambu B.V, and MineralTree, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Deployment
By Distribution Channel
- App Markets
- Bank Channels
- Distributors
- Aggregators
By Services
- Banking & Capital Markets
- Payments
- Digital Currencies
- Value Added Services
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Banco Bilbao Vizcaya Argentaria SA
- Finastra Group Holdings Limited
- NCR Corporation
- Crédit Agricole CIB
- Demyst Data, Ltd.
- Finleap connect GmbH
- FormFree Holdings Corporation
- Jack Henry & Associates, Inc.
- Mambu B.V
- MineralTree, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Open Banking Market, by Deployment
1.4.2 LAMEA Open Banking Market, by Distribution Channel
1.4.3 LAMEA Open Banking Market, by Services
1.4.4 LAMEA Open Banking Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Apr – 2022, Jul) Leading Players
Chapter 4. LAMEA Open Banking Market by Deployment
4.1 LAMEA On-premise Market by Country
4.2 LAMEA Cloud Market by Country
Chapter 5. LAMEA Open Banking Market by Distribution Channel
5.1 LAMEA App Markets Market by Country
5.2 LAMEA Bank Channels Market by Country
5.3 LAMEA Distributors Market by Country
5.4 LAMEA Aggregators Market by Country
Chapter 6. LAMEA Open Banking Market by Services
6.1 LAMEA Banking & Capital Markets Market by Country
6.2 LAMEA Payments Market by Country
6.3 LAMEA Digital Currencies Market by Country
6.4 LAMEA Value Added Services Market by Country
Chapter 7. LAMEA Open Banking Market by Country
7.1 Brazil Open Banking Market
7.1.1 Brazil Open Banking Market by Deployment
7.1.2 Brazil Open Banking Market by Distribution Channel
7.1.3 Brazil Open Banking Market by Services
7.2 Argentina Open Banking Market
7.2.1 Argentina Open Banking Market by Deployment
7.2.2 Argentina Open Banking Market by Distribution Channel
7.2.3 Argentina Open Banking Market by Services
7.3 UAE Open Banking Market
7.3.1 UAE Open Banking Market by Deployment
7.3.2 UAE Open Banking Market by Distribution Channel
7.3.3 UAE Open Banking Market by Services
7.4 Saudi Arabia Open Banking Market
7.4.1 Saudi Arabia Open Banking Market by Deployment
7.4.2 Saudi Arabia Open Banking Market by Distribution Channel
7.4.3 Saudi Arabia Open Banking Market by Services
7.5 South Africa Open Banking Market
7.5.1 South Africa Open Banking Market by Deployment
7.5.2 South Africa Open Banking Market by Distribution Channel
7.5.3 South Africa Open Banking Market by Services
7.6 Nigeria Open Banking Market
7.6.1 Nigeria Open Banking Market by Deployment
7.6.2 Nigeria Open Banking Market by Distribution Channel
7.6.3 Nigeria Open Banking Market by Services
7.7 Rest of LAMEA Open Banking Market
7.7.1 Rest of LAMEA Open Banking Market by Deployment
7.7.2 Rest of LAMEA Open Banking Market by Distribution Channel
7.7.3 Rest of LAMEA Open Banking Market by Services
Chapter 8. Company Profiles
8.1 Banco Bilbao Vizcaya Argentaria SA
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional Analysis
8.1.4 Recent strategies and developments:
8.1.4.1 Partnerships, Collaborations, and Agreements:
8.1.4.2 Product Launches and Product Expansions:
8.1.4.3 Acquisition and Mergers:
8.2 Finastra Group Holdings Limited (Vista Equity Partners)
8.2.1 Company Overview
8.2.2 Recent strategies and developments:
8.2.2.1 Partnerships, Collaborations, and Agreements:
8.2.2.2 Acquisition and Mergers:
8.2.2.3 Geographical Expansions:
8.3 NCR Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Acquisition and Mergers:
8.4 Crédit Agricole Group
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Recent strategies and developments:
8.4.3.1 Product Launches and Product Expansions:
8.4.3.2 Geographical Expansions:
8.5 DemystData, Ltd.
8.5.1 Company Overview
8.6 Finleap connect GmbH
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.6.2.2 Acquisition and Mergers:
8.7 FormFree Holdings Corporation
8.7.1 Company Overview
8.8 Jack Henry & Associates, Inc.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental Analysis
8.8.4 Research & Development Expenses
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.9 Mambu B.V.
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Partnerships, Collaborations, and Agreements:
8.10. MineralTree, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Recent strategies and developments:
8.10.4.1 Partnerships, Collaborations, and Agreements:
TABLE 1 LAMEA Open Banking Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Open Banking Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Open Banking Market
TABLE 4 Product Launches And Product Expansions – Open Banking Market
TABLE 5 Acquisition and Mergers – Open Banking Market
TABLE 6 Geographical Expansions – Open Banking Market
TABLE 7 LAMEA Open Banking Market by Deployment, 2018 - 2021, USD Million
TABLE 8 LAMEA Open Banking Market by Deployment, 2022 - 2028, USD Million
TABLE 9 LAMEA On-premise Market by Country, 2018 - 2021, USD Million
TABLE 10 LAMEA On-premise Market by Country, 2022 - 2028, USD Million
TABLE 11 LAMEA Cloud Market by Country, 2018 - 2021, USD Million
TABLE 12 LAMEA Cloud Market by Country, 2022 - 2028, USD Million
TABLE 13 LAMEA Open Banking Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 14 LAMEA Open Banking Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 15 LAMEA App Markets Market by Country, 2018 - 2021, USD Million
TABLE 16 LAMEA App Markets Market by Country, 2022 - 2028, USD Million
TABLE 17 LAMEA Bank Channels Market by Country, 2018 - 2021, USD Million
TABLE 18 LAMEA Bank Channels Market by Country, 2022 - 2028, USD Million
TABLE 19 LAMEA Distributors Market by Country, 2018 - 2021, USD Million
TABLE 20 LAMEA Distributors Market by Country, 2022 - 2028, USD Million
TABLE 21 LAMEA Aggregators Market by Country, 2018 - 2021, USD Million
TABLE 22 LAMEA Aggregators Market by Country, 2022 - 2028, USD Million
TABLE 23 LAMEA Open Banking Market by Services, 2018 - 2021, USD Million
TABLE 24 LAMEA Open Banking Market by Services, 2022 - 2028, USD Million
TABLE 25 LAMEA Banking & Capital Markets Market by Country, 2018 - 2021, USD Million
TABLE 26 LAMEA Banking & Capital Markets Market by Country, 2022 - 2028, USD Million
TABLE 27 LAMEA Payments Market by Country, 2018 - 2021, USD Million
TABLE 28 LAMEA Payments Market by Country, 2022 - 2028, USD Million
TABLE 29 LAMEA Digital Currencies Market by Country, 2018 - 2021, USD Million
TABLE 30 LAMEA Digital Currencies Market by Country, 2022 - 2028, USD Million
TABLE 31 LAMEA Value Added Services Market by Country, 2018 - 2021, USD Million
TABLE 32 LAMEA Value Added Services Market by Country, 2022 - 2028, USD Million
TABLE 33 LAMEA Open Banking Market by Country, 2018 - 2021, USD Million
TABLE 34 LAMEA Open Banking Market by Country, 2022 - 2028, USD Million
TABLE 35 Brazil Open Banking Market, 2018 - 2021, USD Million
TABLE 36 Brazil Open Banking Market, 2022 - 2028, USD Million
TABLE 37 Brazil Open Banking Market by Deployment, 2018 - 2021, USD Million
TABLE 38 Brazil Open Banking Market by Deployment, 2022 - 2028, USD Million
TABLE 39 Brazil Open Banking Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 40 Brazil Open Banking Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 41 Brazil Open Banking Market by Services, 2018 - 2021, USD Million
TABLE 42 Brazil Open Banking Market by Services, 2022 - 2028, USD Million
TABLE 43 Argentina Open Banking Market, 2018 - 2021, USD Million
TABLE 44 Argentina Open Banking Market, 2022 - 2028, USD Million
TABLE 45 Argentina Open Banking Market by Deployment, 2018 - 2021, USD Million
TABLE 46 Argentina Open Banking Market by Deployment, 2022 - 2028, USD Million
TABLE 47 Argentina Open Banking Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 48 Argentina Open Banking Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 49 Argentina Open Banking Market by Services, 2018 - 2021, USD Million
TABLE 50 Argentina Open Banking Market by Services, 2022 - 2028, USD Million
TABLE 51 UAE Open Banking Market, 2018 - 2021, USD Million
TABLE 52 UAE Open Banking Market, 2022 - 2028, USD Million
TABLE 53 UAE Open Banking Market by Deployment, 2018 - 2021, USD Million
TABLE 54 UAE Open Banking Market by Deployment, 2022 - 2028, USD Million
TABLE 55 UAE Open Banking Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 56 UAE Open Banking Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 57 UAE Open Banking Market by Services, 2018 - 2021, USD Million
TABLE 58 UAE Open Banking Market by Services, 2022 - 2028, USD Million
TABLE 59 Saudi Arabia Open Banking Market, 2018 - 2021, USD Million
TABLE 60 Saudi Arabia Open Banking Market, 2022 - 2028, USD Million
TABLE 61 Saudi Arabia Open Banking Market by Deployment, 2018 - 2021, USD Million
TABLE 62 Saudi Arabia Open Banking Market by Deployment, 2022 - 2028, USD Million
TABLE 63 Saudi Arabia Open Banking Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 64 Saudi Arabia Open Banking Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 65 Saudi Arabia Open Banking Market by Services, 2018 - 2021, USD Million
TABLE 66 Saudi Arabia Open Banking Market by Services, 2022 - 2028, USD Million
TABLE 67 South Africa Open Banking Market, 2018 - 2021, USD Million
TABLE 68 South Africa Open Banking Market, 2022 - 2028, USD Million
TABLE 69 South Africa Open Banking Market by Deployment, 2018 - 2021, USD Million
TABLE 70 South Africa Open Banking Market by Deployment, 2022 - 2028, USD Million
TABLE 71 South Africa Open Banking Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 72 South Africa Open Banking Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 73 South Africa Open Banking Market by Services, 2018 - 2021, USD Million
TABLE 74 South Africa Open Banking Market by Services, 2022 - 2028, USD Million
TABLE 75 Nigeria Open Banking Market, 2018 - 2021, USD Million
TABLE 76 Nigeria Open Banking Market, 2022 - 2028, USD Million
TABLE 77 Nigeria Open Banking Market by Deployment, 2018 - 2021, USD Million
TABLE 78 Nigeria Open Banking Market by Deployment, 2022 - 2028, USD Million
TABLE 79 Nigeria Open Banking Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 80 Nigeria Open Banking Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 81 Nigeria Open Banking Market by Services, 2018 - 2021, USD Million
TABLE 82 Nigeria Open Banking Market by Services, 2022 - 2028, USD Million
TABLE 83 Rest of LAMEA Open Banking Market, 2018 - 2021, USD Million
TABLE 84 Rest of LAMEA Open Banking Market, 2022 - 2028, USD Million
TABLE 85 Rest of LAMEA Open Banking Market by Deployment, 2018 - 2021, USD Million
TABLE 86 Rest of LAMEA Open Banking Market by Deployment, 2022 - 2028, USD Million
TABLE 87 Rest of LAMEA Open Banking Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 88 Rest of LAMEA Open Banking Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 89 Rest of LAMEA Open Banking Market by Services, 2018 - 2021, USD Million
TABLE 90 Rest of LAMEA Open Banking Market by Services, 2022 - 2028, USD Million
TABLE 91 Key Information – Banco Bilbao Vizcaya Argentaria SA
TABLE 92 Key Information – Finastra Group Holdings Limited
TABLE 93 Key Information – NCR Corporation
TABLE 94 Key Information – Crédit Agricole Group
TABLE 95 Key Information – DemystData, Ltd.
TABLE 96 Key Information – finleap connect GmbH
TABLE 97 Key Information – FormFree Holdings Corporation
TABLE 98 Key Information – Jack Henry & Associates, Inc.
TABLE 99 Key Information – Mambu B.V.
TABLE 100 Key Information – MineralTree, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Apr – 2022, Jul) Leading Players
FIG 5 Recent strategies and developments: Banco Bilbao Vizcaya Argentaria SA
FIG 6 Recent strategies and developments: Finastra Group Holdings Limited
FIG 7 Recent strategies and developments: Finleap connect GmbH