Research Methodology – Open Banking Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Open Banking Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Open Banking Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share
- Number of banks and financial institutions signing up for open banking
- Demand from consumers for open banking services
- Regulatory frameworks and policies promoting open banking
- Inclusion of non-traditional financial service providers in the market
- Scope of services offered under open banking and its acceptance among customers
- Investments in open banking technology infrastructure
- Geographic coverage and expansion of open banking services
Key Market Indicators
- Rate of adoption of open banking by banks and financial institutions
- Investment in technology and platforms related to open banking
- Number of third-party providers (TPPs) involved in open banking
- Changes in regulations related to open banking
- Customer satisfaction and acceptance rates of open banking services
- Growth in subscription of open banking services
Growth Trends
- Growth in number of banks and financial service providers adopting open banking
- Upward trend in customer acceptance and demand for open banking services
- Increased investment and innovation in open banking technology and cybersecurity
- Expansion in range of services offered under open banking (e.g. payments, savings, lending, insurance)
- Trend of regulatory bodies promoting open banking as a means to increase competition and customer choice
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Open Banking Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Open Banking Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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