From the community

Q4 2019 Open Banking tracker

January 22, 2020 | Open Banking
Q4 2019 Open Banking tracker

Today we release the latest edition of our Open Banking tracker, a quarterly update on the progress of Open Banking across Europe and beyond, plus our comment on industry news and initiatives. We launched the Open Banking tracker in September 2019 to effectively support our customers that operate across the Open Banking ecosystem. 

Headlines to 31 December 2019:

  • 268 third-parties have registered with a European national competent authority
  • The UK continues to lead Europe with 48% of total registrations, but Germany is gaining fast
  • Q4 2019 recorded the lowest rate of increase in new third-party registrations
  • 42% of third parties are registered to provide both account information and payment initiation services

View the tracker here, and learn more about Mastercard Open Banking Solutions™ at mastercard.com/openbanking

Read a full summary of growth and progress in Open Banking for Q4 2019 below.

Open Banking to Q4 2019

Number of registrations

Now the flurry for banks to comply with the PSD2 Regulatory Technical Standard has passed, we see the market beginning to mature. While October was the third most active month, Q4 2019 recorded the lowest rate of increase in new third-party registrations so far, and slightly below the rolling average.

ob_tracker_graphicspng_1.png

As of 31 December 2019, 286 third-party providers have registered with a European national competent authority (NCA) to provide account information services and/or payment initiation services the region. 

Still, the majority of third-party providers are registered in the UK, with 129 of the 286 (48%) overseen by the Financial Conduct Authority. New registrations in Germany are accelerating at the fastest rate, with a total 34 registrations, while Sweden (24) and France (15) are third and fourth respectively. The largest four markets in terms of the total number of third-party registrations ranked consistently throughout the year.

ob_tracker_graphics_3.png

Types of solutions

Provision of services based around account data remain most common among new participants to the market. To date, a total 265 (93%) third-party providers have registered to provide account information services (AISPs), of which 113 (42%) are also registered to provide payment information services (PISP). Just 23 (10%) third parties are registered as only PISPs.

ob_tracker_graphics_2.png

More in Open Banking

HSBC, ING back API FinTech
Open Banking
May 01, 2020

HSBC, ING back API FinTech

Transficc has raised £5.7mn in its Series A round. In Brief: This was led by Albio...

Yapily raises $13mn
Open Banking
April 06, 2020

Yapily raises $13mn

FinTech startup Yapily has raised $13mn in its Series A funding. In Brief: Yapily offers...

DirectID Are Open Banking Award Winners

Posted By The Community

Open Banking
March 31, 2020

DirectID Are Open Banking Award Winners

DirectID are delighted to announce that they have won the ‘Open Banking product or Service of the Ye...

Written By: DirectID

Open Banking
October 31, 2019

Open Banking - Challenging conventional liquidity assumptions and business strategies

Open Banking could have important implications for bank liquidity. Although the size, scale and timi...

Open Banking
October 31, 2019

The Brave New World of Open Banking

What banks can learn from 17th-century Dutch traders: Most market watchers now view Open Banking...

Open Banking
September 27, 2019

Beyond Open Banking Report

The data from the consumer survey clearly shows that there is a real opportunity for banks and finte...

There are no Events in this category