Open Banking in Italy: A Comprehensive Report
Banca d'Italia today publishes Open Banking in Italy: A Comprehensive Report', the new issue of the series 'Markets, infrastructures, payment systems'.
The study analyses the development of Open Banking in Italy, focusing on the evolution of authorized entities, competitive dynamics, and the geographical distribution of operators. Drawing on statistical data collected by Banca d'Italia since 2020, the research combines descriptive techniques with quantitative tools to provide a detailed overview of the services offered, highlighting market trends, concentration, and segmentation. Although Open Banking in Italy is experiencing significant growth, its adoption remains marginal, accounting for only 0.13% of online credit transfers, mainly concentrated in the B2B segment, where firms leverage integration with ERP (Enterprise Resource Planning) systems. The retail segment appears to be struggling, possibly hindered by competition from established instruments (such as cards and digital wallets), technical limitations, and the lack of a clear value proposition for end users. A further limitation of domestic operators is their low propensity internationalization: only a small share operates across borders, unlike their European competitors.
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