Juniper Research: Global Open Banking API call volume to exceed 720bn by 2029

Open Banking API call volume is predicted to soar 427% to surpass 720 billion globally by 2029, according to new research.

A new study by Juniper Research, titled ‘Global Open Banking APIs Market 2025-2029’, has forecast that the number of Open Banking API calls globally will jump from 137 billion in 2025 to reach 722 billion in 2029.

In its report, Juniper Research predicted that artificial intelligence will become “increasingly integrated” with Open Banking offerings as it is deployed to create personalised banking solutions for users for finance management and customisable loan allowances, in turn, driving the growth of API call volume.

Juniper Research’s study found that API vendors are increasingly using AI for Open Banking offerings, with generative AI (GenAI) “unlocking personalisation at scale”.

The report identified that across Europe in particular, as API quality requirements increased, personalising services through GenAI will be “a highly-effective strategy” for vendors.

Matthew Purnell, author of the research and senior research analyst at Juniper Research, said: “API quality is more than mitigating call failures, but also enabling services. Personalised products are a necessity for Open Banking, with AI ideal for the automation of solutions for users.

“Consequently, vendors must invest in GenAI solutions to not only enhance banking offerings, but to streamline businesses’ workloads.”

Elsewhere in the report, Juniper Research identified the Middle East and Africa as a key developing market, citing its high growth potential as digital banking improves and regulatory ecosystems develop.

In key African markets, the Open Finance African Group Framework launched, and Saudi Arabia has proceeded with the second release of its Open Banking Framework.

One of the recommendations made by Juniper Research is that API vendors work with regional banks and businesses

The report contains extensive analysis of the key market segments that make up the Open Banking API market, including payments, account information services, lending, identity, insurance, and niche use cases, such as FX, cards, and mortgages, and of the 16 market leaders in the Open Banking APIs space.

Further reading: Juniper Research predicts A2A payment transactions to hit 186bn by 2029