Konsentus Powering Trust in Open Ecosystems

Country Market Report: Open Banking in Germany

This report analyses the open banking landscape in Germany and the complexities facing financial institutions as they keep pace with the ever-changing ecosystem.

Share This Post

The open banking ecosystem has changed significantly since PSD2 was implemented in September 2019. Initially, demand for services and transaction volumes were low – this was largely due to a lack of education, lack of consumer awareness and the fintechs not being well established in the market.

In this Germany market report we will cover the following:

  1. Ecosystem Members
  2. The German Open Banking Landscape
  3. Third Party Providers (TPP)
  4. Growth Rate
  5. Services
  6. Future Growth
  7. Liability and Risk


Today, the landscape is very different. Many of the fintech third party providers (TPPs) who gained regulatory approval when PSD2 access to accounts first came into force have either grown into pan-European businesses or have been acquired by larger fintechs or credit institutions. Natural market consolidation has been matched by new entrants, and a small number of TPPs have suffered business failures or ceased trading.

However, these pure-play TPPs are only part of the picture. In many markets, agents are renting open banking permissions from TPPs to offer their own services. And throughout Europe, Credit Institutions, who by default are already authorised to provide open banking services, are capitalising on the opportunities open banking affords and providing their customers with tailored ‘open’ services to differentiate product offerings from their competitors.

The ecosystem is well and truly operational. As a result, API volumes are on the rise, and therefore financial institutions need to be mindful of fraud. The EBA’s Discussion Paper on Selected Payment Fraud Data revealed that in H2 2020 the average value of a fraudulent credit transfer was €4,191 – this is significantly higher than on card transactions or cash withdrawals.

Financial Institutions are faced with not only having to comply with PSD2 by granting instant access to their customers’ accounts – often without knowing who the entities requesting access are – but also preventing valuable customer account information and funds from being given to a fraudulent or unauthorised third parties and being in breach of GDPR.

This report analyses the current open banking market in Germany and the complexities facing financial institutions as they keep pace with the ever-changing ecosystem.

Subscribe To Our Newsletter

Keep up to date with all our news and publications.

More To Explore

Konsentus at Singapore Fintech Festival 2023

Singapore. 15 – 17 November 2023. This year’s Singapore Fintech Festival showcases the intersection of Policy, Finance and Technology. Visit the Konsentus and Brankas team at Stand 3C35 to gain insights into our strategies for API ecosystems, payment solutions and beyond.

Read More

Talk with Our Team Today

Join us on the Journey

Protect your customers transacting in open ecosystems.

Konsentus Rebrand Button - Konsentus Dot-23-23

Find out how our technology can protect your customers within open ecosystems.



On completion of this form you will be sharing your personal data with Konsentus Ltd (company number 1115059) (“Konsentus”/”we”/”us”). We will process such information for the purposes of sending you the requested information. We may also send you marketing communications and information which we consider may be of interest to you from time to time. This may include sending information by email, or us contacting you by telephone, where relevant details are provided. We rely on our legitimate interests as the lawful basis for processing your data in this way. Under certain circumstances, you have rights under data protection laws in relation to your personal data, including the right to receive a copy of the data we hold about you. You also have the right to opt out of marketing communications at any time using the details in an email sent to you or by contacting us at insights@konsentus.com.

Login to your account