Open Banking API Call Volume to Surpass 720 Billion by 2029

A new study from Juniper Research has found that the number of Open Banking API calls globally will increase by 427%, from 137 billion in 2025. The report predicts that AI will become increasingly integrated with open banking offerings, creating personalized banking solutions for users for finance management and customizable loan allowances, driving the growth of API call volume.

Juniper Research found that API vendors are increasingly utilizing AI for open banking offerings, with GenAI unlocking personalization at scale. As API quality requirements have increased across Europe in particular, personalizing services through GenAI will prove to be a highly effective strategy for vendors. “API quality is more than mitigating call failures but also enabling services. Personalized 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,” remarked research author Matthew Purnell.

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 the 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.