A new report from Juniper Research has forecasted a dramatic increase in global Open Banking API call volume, projecting a 427% rise from 137 billion calls in 2025 to over 720 billion by 2029. This growth is attributed to the increasing integration of artificial intelligence (AI) into Open Banking platforms, which is expected to drive personalized financial services and enhance customer experiences.

The report, titled Global Open Banking APIs Market 2025-2029, highlights that AI, particularly generative AI (GenAI), will play a key role in transforming Open Banking offerings. As API vendors look to meet growing quality demands, especially in Europe, GenAI will be crucial for creating scalable personalized banking solutions, such as customized loan options and tailored financial management tools. Juniper Research believes these innovations will significantly contribute to the surge in API call volume as they enable more advanced, user-centric services.

Matthew Purnell, a research author at Juniper, emphasized that API vendors must focus not only on minimizing call failures but also on delivering personalized, automated services that meet evolving customer needs. "Personalized products are now essential for Open Banking, and AI is the ideal tool for automating solutions for users," Purnell noted. "As a result, vendors must invest in GenAI technologies to both improve banking services and streamline business operations."

The report also identifies key emerging markets that are poised for rapid growth in Open Banking. Specifically, it highlights the Middle East and Africa, where regulatory frameworks are expanding and digital banking infrastructure is improving. Notably, the Open Finance African Group Framework was launched in 2024, and Saudi Arabia has moved forward with phase 2 of its Open Banking initiative. Juniper Research suggests that API vendors should broaden their focus beyond Europe and collaborate with regional banks and businesses to capitalize on these early-stage markets, unlocking new revenue streams.

Juniper Research's comprehensive market analysis includes over 23,000 data points across 61 countries, offering a detailed assessment of current and future opportunities in the Open Banking API sector. As demand for personalized banking experiences grows and new regulatory environments emerge, the global Open Banking market is set to experience unprecedented growth in the coming years.

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