The global open banking market, valued at USD 25.14 billion in 2023, is projected to grow at a CAGR of 27.4% from 2024 to 2030. Open banking enables third-party financial service providers to access transactions and financial data from bank and non-bank institutions through APIs. Key benefits include broader financial services access, improved customer experience, and enhanced control and security of financial data, all of which are driving significant market growth during the forecast period.