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. The assessment estimates GBP 8.3bn in cumulative economic benefit delivered to date based on current adoption levels, with substantially higher gains projected as adoption expands. The study projects annual benefits of around GBP 7.4bn after five years as adoption continues to scale, and a long-run annual opportunity of up to GBP 43bn per year at full maturity. It links the impact to increased use of consent-based current account data sharing across payments, savings, lending and cloud accounting, enabling cheaper, faster and more efficient day-to-day financial decisions. Within five years, the modelling estimates an annual GDP uplift of GBP 2.3bn from reduced administrative costs for small and medium-sized enterprises, and GBP 2.5bn from consumer tools that improve financial management and access to finance. The report frames the impact assessment as of December 2025, noting more than 17.51 million user connections and 145 authorised third-party providers are live, and OBL’s API performance statistics show open banking payments rose 4.3% month on month in January 2026 to GBP 36.04m.
Open Banking Limited 2026-03-16
Open Banking Limited-commissioned EY analysis estimates GBP 8.3bn cumulative UK open banking benefit and up to GBP 43bn annual opportunity
Open Banking Limited released an EY analysis estimating GBP 8.3bn in cumulative benefits to the UK economy, with higher gains expected as adoption grows. The study forecasts annual benefits of GBP 7.4bn in five years and up to GBP 43bn at full maturity, driven by increased use of consent-based data sharing. The report highlights a projected annual GDP uplift of GBP 4.8bn within five years from reduced SME administrative costs and improved consumer financial management.