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7 Open Banking APIs State of the Market Report 2020 Asia pacific Latin America US & Canada UK Europe & Scandinavia Eastern Europe & Russia Middle East & Africa GROWTH IN OPEN BANKING API PRODUCTS BY REGION Q4 2018 - Q2 2020 Number of products Q4 2018 Q2 2019 Q4 2019 Q2 2020 58 836 29 824 120 108 106 16 7 3 25 4 1 9 600 400 200 1000 800 Asia Pacific Latin America US & Canada UK Europe & Scandinavia Eastern Europe & Russia Middle East & Africa OPEN BANKING PLATFORM GROWTH BY REGION, Q4 2018 - Q2 2020 Number of platforms Q4 2018 Q2 2019 Q4 2019 Q2 2020 58 179 29 61 16 23 7 14 3 7 4 1 2 27 200 150 100 50 OPEN BANKING APIs BY PRODUCT CATEGORY (N=2845) Data products Bank product/ATM/Locations FX Loyalty/rewards Trading Credit cards Other Accounts Payments Identity (KYC and authentication) Credit scoring/loan pre-approvals 119 68 73 77 195 245 778 822 71 73 292 Global Open Banking Trends 2018 - 2020 Growth in platforms grew largest in Europe and Scandinavia, as deadlines set during Q4 2019 required banks to release their open APIs publicly and banks rushed to comply. Most EU banks are still only making required PSD2 APIs available, resulting in banks having an average product suite of 4 APIs each. This contrasts with the Asia Pacific region, where banks have the microservices architecture models and infrastructure to offer more granular functionalities via API. This has resulted in Asia Pacific banks having a greater total number of APIs available than Europe, despite having only a third as many banks with open banking platforms. The US also skews to having more API products available from commercial banks which are moving towards banking-as-a-service models for their corporate customers. SUMMARY OF GROWTH TRENDS Number of products Utilities 32