Open Banking adoption in the UK has reached record levels, according to Open Banking Limited’s Impact Report 7, published in December 2025. The number of active open banking users grew by 40% year-on-year, reaching 13.3 million as of March 2025. This figure now represents one in five consumers and small businesses, highlighting how open banking is quickly becoming a mainstream financial tool.
In March 2025, 31 million open banking payments were processed, accounting for 7.9% of all Faster Payments that month. Variable recurring payments (VRPs), a feature enabling flexible and automated transactions between accounts, made up 13% of these transfers. The open banking ecosystem now comprises 145 live third-party providers and contributes an estimated £4 billion to the UK economy.
Key facts at a glance:
- Active users: 13.3 million (March 2025), up 40% from previous year
- Payments: 31 million in March 2025 (7.9% of all Faster Payments)
- VRP share: 13% of total open banking transactions
- Third-party providers: 145 with live services
- Economic impact: Approximately £4bn contributed by the open banking sector
The rapid uptake is attributed to users seeking efficient account-to-account (A2A) payment solutions as alternatives to traditional cards and e-wallets. Euan Ballantyne, Product Director at Pay.UK, commented: “The consistent and significant growth in open banking payments processed via Faster Payments is a very positive sign that A2A retail payments are becoming increasingly widespread across the ecosystem.”
Luke Ryder, Strategy and Policy Director at Open Banking Limited (OBL), stated: “Open banking is no longer a promise – it is a reality that’s delivering tangible impact at scale. We are seeing a dynamic, user-led ecosystem emerge – one that helps people manage their finances, boosts SME productivity, and improves access to credit.”
This growth illustrates the increasing acceptance of open banking-powered products for both personal and business finance management. With regulatory backing and industry collaboration, the trend is expected to continue throughout 2026, bringing further changes to payment habits and financial accessibility in the UK.
For more on payment methods and industry changes, see:
