It is estimated that there are 183 million open banking users in 2025.

Open banking users globally are expected to rise over threefold by 2029, according to a study by Juniper Research.

Users are expected to rise to 645 million in 2029, rising by 250% from just 183 million users in 2025.

Growth will reportedly be driven by strong adoption within the underwriting and identity areas.

These two segments have high potential for monetisation via open banking APIs, Juniper Research said.