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Banks, credit unions are on the precipice of an open finance shift
American Banker’s 2026 State of Open Finance Adoption survey, which was sponsored by Akoya, was fielded online during October 2025 among 218 banking professionals who work across a variety of executive roles at banks and credit unions.
This item is the second in a series diving into new data from American Banker, so click the link below to read the previous part.
The concept of open finance, like other financial technology efforts, requires a significant amount of planning and exploration before diving in. Many institutions it seems are still in the planning phases.
On the whole, most respondents said their institutions were currently assessing the opportunities afforded by open finance by evaluating market trends, customer needs and the surrounding regulatory landscape. Assessors accounted for 33% of community bankers, 38% of regional bankers, 26% of national bankers and 59% of credit union executives.
Global Open Banking Market Worth USD 59.81Bn by 2031 Fueled
Hyderabad, India, Jan. 30, 2026 (GLOBE NEWSWIRE) — According to Mordor Intelligence’s latest report, the open banking market size is expected to rise from USD 25.91 billion in 2025 to USD 29.78 billion by 2026 and further expand to USD 59.81 billion by 2031, growing at a 14.95% CAGR through the forecast period. This acceleration is supported by a regulatory push in major economies, increasing appetite for insight-led financial products, and wider use of API-based connectivity. While payment initiation services currently account for the largest share of activity, solutions centered on data access and aggregation are advancing rapidly as financial institutions prioritize personalization. North America remains the leading revenue contributor, whereas Asia-Pacific is emerging as the fastest-growing region, driven by financial inclusion initiatives and digital-first banking models.
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