The adoption of open banking among digitally enabled consumers and small businesses in the UK gradually increased between March 2020 and January 2024. In March 2020, the estimated penetration of open banking was between 2.5 and 3.5 percent of this market segment. By January 2024, this had risen to 14 percent,
Estimated open banking penetration in the digitally enabled population in the United Kingdom (UK) from 2020 to 2024
The source adds the following information: Figures are strictly estimates with limitations. The data is based on submissions of active user numbers (‘active’ defined as active in the last month) and digitally active end-users by the nine largest banks in the UK. It therefore only represents penetration within the digital customer bases of these banks, although this is a significant share of the UK population. This data has been corroborated against data on the total adults and small businesses currently using internet banking, derived from ONS, Eurostat and UK Finance.
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Open Banking. (March 25, 2024). Estimated open banking penetration in the digitally enabled population in the United Kingdom (UK) from 2020 to 2024 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1446274/uk-estimated-open-banking-penetration/
Open Banking. "Estimated open banking penetration in the digitally enabled population in the United Kingdom (UK) from 2020 to 2024." Chart. March 25, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1446274/uk-estimated-open-banking-penetration/
Open Banking. (2024). Estimated open banking penetration in the digitally enabled population in the United Kingdom (UK) from 2020 to 2024. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1446274/uk-estimated-open-banking-penetration/
Open Banking. "Estimated Open Banking Penetration in The Digitally Enabled Population in The United Kingdom (Uk) from 2020 to 2024." Statista, Statista Inc., 25 Mar 2024, https://www.statista.com/statistics/1446274/uk-estimated-open-banking-penetration/
Open Banking, Estimated open banking penetration in the digitally enabled population in the United Kingdom (UK) from 2020 to 2024 Statista, https://www.statista.com/statistics/1446274/uk-estimated-open-banking-penetration/ (last visited November 21, 2024)
Estimated open banking penetration in the digitally enabled population in the United Kingdom (UK) from 2020 to 2024 [Graph], Open Banking, March 25, 2024. [Online]. Available: https://www.statista.com/statistics/1446274/uk-estimated-open-banking-penetration/
