We have a lot to share this week as part of our passion to continue providing you with industry-leading information on the global Open Banking segment. This update will have the weekly additions to the Open Banking Tracker (Banks, APIs, TPPs, etc.)and the launch of the largest Open Banking App Store in the world!
Our Current Coverage
• We track 2,888 banks providing Open Banking services! (+7 from last week)
• 1,032 APIs currently tracked on our platform!
• 440 TPPs in the ecosystem!
• 89 Global markets covered! (+1)
• 35+ Open Banking API Aggregators!
• 142 Open Banking powered apps! (NEW: +22 added in the last week!)
• PSD2 API & PSD2 Open Banking coverage!
• Track over 60+ data points for all Open Banking projects!
And we are growing on a continuous basis... 🚀🚀🚀
Developments (June 22nd to July 5th):
We initiated coverage and provided Open Banking API information for:
• BankProv: As the 10th oldest bank in the US, BankProv has been serving its local communities for nearly 200 years.
• Brex: Credit card with no personal guarantee, instant approvals, higher limits, and modern payment terms. Powered by the Mastercard network with best-in-class fraud protection.
• Emigrant Bank: Emigrant Bank is a private American financial institution, it is the oldest savings bank in New York City and it was the ninth-largest privately-owned bank in America in 2012. It is the largest privately-held, family-owned, and operated bank in America in 2019.
• Invoice2go Money: No-fee small business bank account with fast bank transfer payments and a debit card to help you manage your finances.
• MAJORITY: is the first digital financial service dedicated to serving migrants worldwide.
• Biggest Publicly Available TPP Registry in the Industry! 🚀🚀🚀
• And many more!
We continue to cover over 35 aggregators!
The Largest Open Banking App Store!
Last week we launched the largest Open Banking app store in the world with 120 apps listed at the time. We've had the great pleasure to be inundated with requests from app developers to be listed and we're excited to continue building out this app store!
In case you missed it last week, you can find our press release below!
We are proud to announce our newest app store, openbankingusecases.com, as part of the Open Banking Tracker.
Together with Plaid, equensWorldline, Salt Edge, and Ibanity, we have collected various use cases across the open banking ecosystem. Listing use cases from account aggregation apps to smarter credit scores and even adding a gambling block to your bank account.
The Open Banking Tracker is an ongoing project to build the world’s most comprehensive repository of PSD2 compliant banks, Third-Party Providers, and API Aggregators. The Tracker currently tracks 100 data points on over 2,800 challenger and incumbent banks across 89 countries and is the largest publicly available TPP registry in the industry.
“Over the last two years, there has been massive growth in the fintech ecosystem, with companies entering the space to offer innovative solutions to old problems. Banq realized that a missing piece of the open banking puzzle was a centralized app store showcasing how this technology creates value and unlocks new customer experiences,” says Gertjan De Wilde, CEO, and Co-Founder at Banq.
At the time of the launch, there are 120 listings of various open banking use cases already listed in the app store, and we invite any company that leverages the technology to contact us to get added to the app store.
In addition to the app store, a market map has been developed to map the open banking use cases in real-time.
In the upcoming months, we will be releasing additional market maps like Challenger Banks and the Banking Stack covering the fast-growing technologies used by Fintechs and banks.
The full announcement can be read on the Open Banking Tracker blog
Please feel free to email us back with any coverage or data requests to implement or improve our current data set! We are a customer centric provider and want to make sure our users are as satisfied as can be!
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Have a great week and stay safe!
The Banq team