2025: Open banking in the mainstream in Europe

In 2025, open banking became a crucial part of payment infrastructure in Europe, as evidenced by a 53% increase in open banking payments in the UK and a significant rise in adoption by companies such as Zilch, Raylo, Lightspeed, and Squarespace. Plaid, a leader in the sector, reported a 55% increase in new customer growth and a dramatic 265% rise in the number of payments, while also introducing innovations like one-click payments that improved conversion rates. Recurring payments experienced substantial growth, becoming a vital alternative to traditional payment systems. Companies like YNAB and Zilch leveraged Plaid's solutions for significant improvements in conversion rates and payment efficiencies. YouLend continued its rapid growth by using open banking data for efficient underwriting, highlighting the enduring impact of open banking on modern finance. Plaid's expansion in Europe, including local team growth in London and Amsterdam, underscores the scaling market potential and the increasing demands of the evolving digital payment landscape.