Open banking allows for customized services for individual customers like budget management and monitoring expenses. Pioneers in this area include companies such, as Plaid and Yodlee that work to improve banking by connecting with banking systems. medium sized businesses reap the advantages of open banking by offering immediate access to financial information and simplifying the process of applying for loans from companies, like TrueLayer and Tink that cater to SMEs with custom financial solutions.

Detailed Analysis - 𝐡𝐭𝐭𝐩𝐬://𝐝𝐚𝐭𝐚𝐬𝐭𝐫𝐢𝐧𝐠𝐜𝐨𝐧𝐬𝐮𝐥𝐭𝐢𝐧𝐠.𝐜𝐨𝐦/𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲-𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬/𝐨𝐩𝐞𝐧-𝐛𝐚𝐧𝐤𝐢𝐧𝐠-𝐩𝐥𝐚𝐭𝐟𝐨𝐫𝐦-𝐦𝐚𝐫𝐤𝐞𝐭-𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡-𝐫𝐞𝐩𝐨𝐫𝐭

Financial organizations are more and more turning to data driven approaches to offer tailored and streamlined services that complement the consumer interaction features of open banking.

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐚𝐧𝐝 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬

The Open Banking Platform market within top 3 demand hubs including UK, Germany and U.S., is characterized by intense competition, with a number of leading players such as Plaid, Yodlee, TrueLayer, Tink, MX, Finicity, HSBC, Barclays, Mint, Robinhood, Starling Bank and Revolut. Below table summarize the strategies employed by these players within the eco-system.