UK has flown the flag for Open Banking since its inception in 2017, and now it has reached record highs of users and monthly usage.
Open Banking adoption in the UK has increased to more than 15 million users and businesses making use of the initiative.
According to a study conducted by Open Banking Limited (OBL), adoption in the UK grew by 34% year-on-year, equating to one in three adults.
The figures, collected in July 2025, also show a 3.5% increase from June, with Open Banking usage standing at 2.04 billion. This shows a “growing consumer demand for secure, convenient and transparent financial solutions”, OBL said.
One of the largest adoption drivers was Open Banking-powered payments. In the July data, the total value of Open Banking payments reached 29.89 million for the month, an 8.7% increase from June.
Variable Recurring Payments (VRPs) were one of the main contributing factors to this surge, accounting for over 4% of all Open Banking transactions in July. This was an 8.6% increase to 4.26 million VRP transactions from the month prior.
“This data shows how open banking is now part of everyday life for millions of people and businesses across the UK – from paying taxes to shopping online,” said Henk Van Hulle, CEO, Open Banking Limited.
“To maintain momentum and unlock its full potential, we look forward to working closely with government, regulators and the wider ecosystem, ensuring open banking delivers even greater value, innovation and impact for everyone.”
Business vs. consumer adoption
Greater adoption of payments via Open Banking infrastructure came from the likes of Just Eat and Tesco, as well as airline companies like Ryanair, according to the study.
Throughout 2025, there have been discussions within the payments industry as to where the next stage of Open Banking’s growth will come from – notably whether s VRPs and Pay by Bank will lead to continued growth within the payment space.
Speaking to Payment Expert in June 2025, OBL’s Senior Policy Lead, Richard Koch, said he believed Open Banking payments “must grow in tandem” and believes the banking sector is “already well-positioned” for greater adoption.
“On the consumer side, awareness is important but not a prerequisite for adoption,” said Koch. “Historically, major payment innovations – such as chip-and-PIN and contactless – succeeded not due to large-scale education campaigns, but because they were intuitive and well-integrated at the point-of-sale.
“The same principle applies to Open Banking payments – if they offer a seamless, user-friendly experience, adoption will naturally follow.”
Regulatory clarity
The study concluded with future projections for further Open Banking growth in the UK, highlighting the upcoming Data Use and Access Act as landmark legislation which could pave the way for the next growth phase.
The Data Use and Access Act, if passed, would reform how data is managed within the UK, making significant amendments to its predecessor, the Data Protection Act 2018.
Some of the key provisions under the new law are automated decision making, subject access requests, international data transfers, and new cookie rules.
OBL views the UK’s new long term regulatory plan as “essential” in unlocking future innovations with the technology and growing adoption as more merchants and consumers become aware and educated about Open Banking.
