Banks Overlooking Open Finance Revenue Streams, Report Finds

New study identifies six major opportunities banks are missing in the open banking era.

Apr. 9, 2026 at 2:40pm

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An extreme close-up of intricate, metallic banking machinery and mechanisms, conveying the secure and powerful infrastructure of the financial industry.A new report highlights the untapped revenue potential for banks in the open finance era, as they seek to leverage data and technology to drive growth.NYC Today

A new report from a leading financial services research firm has identified six major revenue opportunities that banks are currently overlooking in the era of open banking and open finance. The report highlights how banks can leverage new data-sharing capabilities and fintech partnerships to drive growth in areas like lending, wealth management, and payment services.

Why it matters

As banks face increasing competition from nimble fintech startups, the ability to capitalize on open finance innovations will be crucial for traditional financial institutions to maintain market share and profitability. The report provides a roadmap for banks to adapt their business models and product offerings to the new open banking landscape.

The details

The report, published by the Hastings Research Institute, analyzed the current state of open banking adoption and identified six key revenue streams that banks are currently underutilizing. These include using aggregated customer data to offer more personalized lending products, leveraging open APIs to embed banking services into third-party apps, and monetizing financial data insights through B2B data-as-a-service offerings.

  • The report was published on April 9, 2026.

The players

Hastings Research Institute

A leading financial services research firm that publishes industry analysis and insights.

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What’s next

The report recommends that banks develop comprehensive open banking strategies and partner with fintech firms to capitalize on the revenue opportunities identified.

The takeaway

As the financial services industry continues to evolve, banks that can successfully adapt their business models to the open finance era will be best positioned to maintain their competitive edge and drive growth.