Twin milestones underline the UK’s position as one of the world’s leading Open Banking ecosystems.
· More than one billion Open Banking payments have now been initiated through the UK’s major high street banks since the launch of Open Banking.
· More than 100 billion API calls have been made across the CMA9*, highlighting the scale, resilience and maturity of the UK’s open banking infrastructure.
· Monthly API traffic reached a new record of 2.81 billion calls in June, as demand for Open Banking services continued to accelerate.
The UK’s Open Banking ecosystem has reached two landmark milestones, with more than one billion Open Banking payments and 100 billion API calls now recorded across the CMA9 banks since the launch of Open Banking more than eight years ago.
A defining moment in the evolution of Open Banking in the UK, these milestones demonstrate how the initiative has become an integral part of the UK’s financial infrastructure, enabling millions of consumers and businesses to access innovative financial services, make account-to-account payments, and manage their finances more effectively.
The latest figures demonstrate that adoption continues to strengthen. During June, the ecosystem recorded 2.81 billion API calls, an increase of 4.4% month on month and the highest monthly volume recorded to date, reflecting sustained demand for Open Banking-powered services.
Open Banking payments remained resilient at 40.16 million during June. While Single Domestic Payments declined by 1.2%, continued growth of Variable Recurring Payments (VRPs) which increased by 6.7% month on month, helped maintain overall payment volumes and highlighted a growing area of innovation.
The latest performance data also demonstrated continued operational strength across the ecosystem. Average response times, the time it takes for a provider to respond to a payment request, improved to 349ms, 50ms faster than the previous reporting period, reflecting ongoing optimisation and performance improvements by ecosystem participants.
Henk Van Hulle, CEO of Open Banking Limited, said:
“These milestones reinforce the UK’s position as a global leader in Open Banking and demonstrate an ecosystem that continues to scale in both volume and capability. As adoption increases and new use cases emerge, Open Banking will play an increasingly vital role in supporting competition, innovation and growth across the UK’s financial services landscape.
“As we look ahead, our focus remains on building on these achievements. By continuing to strengthen resilience, performance and innovation, we can unlock even greater value for consumers, businesses and the wider economy, while supporting the next phase of the UK’s Open Banking and Open Finance journey.”