Application Programming Interface (API) Banking Market
Application Programming Interface (API) Banking Market Size, Share & Trends Analysis Report by Application (Personal Banking, Corporate Banking, Wealth Management, and Others), by Deployment (On-Premise and Cloud), by Component (Solution, and Service), and by Enterprise Size (Large Enterprises and Small and Mid-Sized Enterprises (SMEs)) Forecast Period (2023-2030)
Application programming interface (API) banking market is anticipated to grow at a CAGR of 20.5% during the forecast period (2023-2030). A banking API is the software intermediary that allows a third-party app to connect with financial institutions and obtain the required financial data. Owing to this factors, the BFSI industry players are able to fulfill the growing demands for digital banking. The growing adoption of significant technological advancements such as cloud computing and big data analytics in the banking industry is another key factor supporting the market growth. According to Oracle, Use Oracle’s SaaS-based, packaged API solution to jump-start API banking with more than 1,800 ready-to-deploy business and foundational banking APIs. The cloud-native solution enables banks to comply with open banking regulations and accelerate innovation in a new digital ecosystem. For instance, in February 2023, Oracle launched Oracle banking cloud services of componentized, composable cloud-native services. by using this platform, the company provides services such as wide limits and collateral management, global payment processing for API management, retail onboarding and originations, and new self-service digital experience capabilities. The new services are built and running on the high performance, scalability, security, and compliance of Oracle Cloud Infrastructure, including OCI’s Oracle Kubernetes Engine.
Segmental Outlook
The global application programming interface (API) banking market is segmented on the application, deployment, component, and enterprise size. Based on the application, the market is sub-segmented into personal banking, corporate banking, wealth management, and others which includes customer, payment, and account information. Based on the deployment, the market is sub-segmented into on-premise and cloud. Based on the component, the market is sub-segmented into solution and service. Further, based on the enterprise size, the market is bifurcated into large enterprises and SMes. Among the applications, the personal banking sub-segment is anticipated to hold a considerable share of the market owing to the facilities provided by banks to the customers such as customer API, payment initiation API, and log-in with bank API.
Cloud Sub-Segment is Anticipated to Hold a Considerable Share of the Global Application Programming Interface (API) Banking Market
Among the deployment segment, cloud sub-segment is expected to hold a considerable share of the global API banking market. This is owing to the growing cloud native technology, through whichbanks can streamline the process of creating and managing APIs without the burden of managing the underlying infrastructure, while applying non-intrusive policy enforcement to the runtimes that support them. For instance, in June 2022, Atos and IBM supported European financial enterprises and institutions to build trust in the cloud and comply with EU regulations. that enable organizations, including operators of vital importance (OIV) and operators of essential services (OES) to go a step further in the adoption of cloud technology. Atos enables organizations using the IBM Cloud for Financial Services to benefit from its expertise in cloud security.
Regional Outlook
The global application programming interface (API) banking market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the Asia-Pacific region is anticipated to hold a prominent share of the market around the globe. Various government financial organizations such as Monetary Authority of Singapore (MAS) and the Reserve Bank of India (RBI), are increasingly focusing on promoting open banking, in turn encouraging utilization of API.
Global Application Programming Interface (API) Banking Market Growth, by Region 2023-2030
North America Region is Expected to Grow at a Significant CAGR in the Global Application Programming Interface (API) Banking
Among all the regions, North America is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the presence of major BFSI players, the early adoption of digital banking solutions, and government regulations promoting open banking. For instance, in October 2022, Bank of America expanded its cash payment API capability to over 350 payment types. The development comes as APIs continue to transform business-to-business (B2B) and business-to-consumer (B2C) transactions given the ability of APIs to provide real-time data, reduce costs and improve operational efficiencies. The capabilities of the enhanced CashPro Payment API spans is such as More than 350 payment types in 38 markets globally, 7 real-time payment schemes and services such as Zelle in the US and Pix in Brazil, Domestic and cross-border wires, and the Ability to execute payments in bundles, helping clients avoid or reduce backlogs in payment queues.
Market Players Outlook
The major companies serving the global application programming interface (API) banking market include Citibank, Deutsche Bank, Finastra, Google LLC, and IBM Corp., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2022, Razorpay acquired izealiant technologies that pursue state-of-the-art payment banking technologies to meet evolving business requirements while tackling complex challenges of financial industry.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global application programming interface (API) banking market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current ENTERPRISE SIZE Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. BankProv
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Cloud Software Group, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. FidyPay
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Application Programming Interface (API) Banking Market by Application
4.1.1. Personal Banking
4.1.2. Corporate Banking
4.1.3. Wealth Management
4.1.4. Others (Customer, Payment, and Transaction Information)
4.2. Global Application Programming Interface (API) Banking Market by Deployment
4.2.1. On-Premise
4.2.2. Cloud
4.3. Global Application Programming Interface (API) Banking Market by Component
4.3.1. Solution
4.3.2. Service
4.4. Global Application Programming Interface (API) Banking Market by Enterprise Size
4.4.1. Large Enterprises
4.4.2. Small and Mid-Sized Enterprises (SMEs)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Citibank
6.2. Deutsche Bank
6.3. Finastra
6.4. Google LLC
6.5. IBM Corporation
6.6. Infosys Ltd
6.7. JPMorgan Chase
6.8. Oracle Corp.
6.9. Razorpay
6.10. Salesforce, Inc.
6.11. SAP SE
6.12. Tink AB
6.13. Yodlee, Inc.
1. GLOBAL API BANKING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
2. GLOBAL API FOR PERSONAL BANKING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL API FOR CORPORATE BANKING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL API FOR WEALTH MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL API FOR OTHER BANKING APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL API BANKING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2022-2030 ($ MILLION)
7. GLOBAL ON-PREMISES BASED API BANKING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL CLOUD-BASED API BANKING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL API BANKING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
10. GLOBAL API BANKING SOLUTIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL API BANKING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL API BANKING MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2022-2030 ($ MILLION)
13. GLOBAL API BANKING IN BANKING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL API BANKING FOR LARGE ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL API BANKING FOR SMES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. GLOBAL API BANKING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
17. NORTH AMERICAN API BANKING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
18. NORTH AMERICAN API BANKING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
19. NORTH AMERICAN API BANKING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2022-2030 ($ MILLION)
20. NORTH AMERICAN API BANKING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
21. NORTH AMERICAN API BANKING MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2022-2030 ($ MILLION)
22. EUROPEAN API BANKING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
23. EUROPEAN API BANKING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
24. EUROPEAN API BANKING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2022-2030 ($ MILLION)
25. EUROPEAN API BANKING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
26. EUROPEAN API BANKING MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2022-2030 ($ MILLION)
27. ASIA- PACIFIC API BANKING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
28. ASIA- PACIFIC API BANKING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
29. ASIA- PACIFIC API BANKING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2022-2030 ($ MILLION)
30. ASIA- PACIFIC API BANKING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
31. ASIA- PACIFIC API BANKING MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD API BANKING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
33. REST OF THE WORLD API BANKING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
34. REST OF THE WORLD API BANKING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2022-2030 ($ MILLION)
35. REST OF THE WORLD API BANKING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
36. REST OF THE WORLD API BANKING MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2022-2030 ($ MILLION)
1. GLOBAL API BANKING MARKET SHARE BY APPLICATION, 2022 VS 2030 (%)
2. GLOBAL API FOR PERSONAL BANKING MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL API FOR CORPORATE BANKING MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL API FOR WEALTH MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL API FOR OTHER APPLICATIONS MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL API BANKING MARKET SHARE BY DEPLOYMENT, 2022 VS 2030 ($ MILLION)
7. GLOBAL ON-PREMISES BASED API BANKING MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL CLOUD-BASED API BANKING MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL API BANKING MARKET SHARE ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
10. GLOBAL API BANKING SOLUTIONS MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL API BANKING SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL API BANKING MARKET SHARE ANALYSIS BY ENTERPRISE SIZE, 2022-2030 ($ MILLION)
13. GLOBAL API BANKING FOR LARGE ENTERPRISES MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL API BANKING FOR SMES MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL API BANKING MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. US API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
17. CANADA API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
18. UK API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
19. FRANCE API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
20. GERMANY API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
21. ITALY API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
22. SPAIN API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
23. REST OF EUROPE API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
24. INDIA API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
25. CHINA API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
26. JAPAN API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
27. SOUTH KOREA API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
28. REST OF ASIA-PACIFIC API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
29. REST OF THE WORLD API BANKING MARKET SIZE, 2022-2030 ($ MILLION)
