Open banking sector to grow six-fold to $43.15b by 2026

The future of banking will be fully digital and driven by data where, instead of man-to-man, transactions will be processed through a machine-to-machine system.

The global financial services market, representing more than a quarter of the global economy, is on track to hit $22.51 trillion in 2021 amid an “open banking revolution” that is poised to trigger a six-fold growth to a $43.15 billion business from $7.3 billion in 2018, delegates at a banking event have learnt.