Rapid Adoption: Open banking adoption in Germany has surged since the implementation of the EU's Payment Services Directive 2 (PSD2) in 2018. As of 2023, nearly 950 fintech companies operate in the country, driving innovation and expanding the open banking ecosystem, which is projected to account for 5% of total payments by 2028

Enhanced User Experience: Open banking facilitates instant account-to-account (A2A) transfers, allowing users to complete transactions quickly without the need for manual IBAN entry. This streamlined process not only improves transaction speed but also reduces friction, making it a preferred choice for consumers who value efficiency

Increased Security and Trust: Open banking is built on robust regulatory frameworks that prioritize consumer protection and data security. The integration of standardized APIs enhances trust among users, encouraging them to engage with open banking solutions confidently