Open Banking Limited has published independent economic analysis completed by EY to quantify the value of open banking for consumers, businesses and the wider UK economy, estimating GBP 8.3bn in cumulative benefit to date at current adoption levels. It projects annual economic benefits of GBP 7.4bn within five years as adoption scales, rising to as much as GBP 43bn a year at full maturity and adoption. The modelling covers adoption across payments, savings, lending and cloud accounting, where consent-based sharing of current account data is expected to make financial decisions cheaper, faster and more efficient over time. It identifies benefits from improved consumer money management, lower business transaction and administration costs, better access to finance, and more efficient capital allocation. Within five years, the analysis estimates an annual GDP uplift of GBP 2.3bn from reduced SME administrative burdens and GBP 2.5bn from consumer tools that support saving, budgeting and access to fairer finance. The impact assessment reflects conditions as of December 2025 and uses conservative adoption assumptions and publicly available data.
Open Banking Limited 2026-03-10
UK's Open Banking Limited publishes EY analysis estimating GBP 8.3bn cumulative benefit and up to GBP 43bn in annual economic gains from open banking
Open Banking Limited released an EY analysis estimating GBP 8.3bn in cumulative benefits from open banking for the UK economy, with potential annual benefits of GBP 7.4bn within five years and up to GBP 43bn at full maturity. The analysis highlights advantages in payments, savings, lending, and cloud accounting, projecting a GBP 2.3bn GDP uplift from reduced SME administrative burdens and GBP 2.5bn from consumer financial tools. The assessment is based on conditions as of December 2025 with conservative adoption assumptions.