Open Banking Forum unveils future of $22.5tr global financial industry

The face of the $20.51 trillion global banking industry and the payment industry is changing rapidly due to the Open Banking revolution that is unfolding worldwide to become a $43.15 billion business worldwide by 2026. From simple payment transactions, the industry is moving towards invisible pay that is easy, fast and invisible, as the industry re-discovers itself from a money-driven to a data-driven operation. “Pandemic after-effects fueled industry transformation to a new era as payments become embedded, immersive and out of sight,” said World Payments Report 2021 by Capgemini published recently.