According to the latest Report on Open Banking in Italy by the Bank of Italy, the sector shows signs of consolidation but remains marginal compared to the total of digital payments. Only 0.13% of online transfers are made via Open Banking platforms, highlighting still limited adoption among consumers. The model, introduced with the PSD2 directive, allows authorized third parties (TPPs) to access current account data to offer new financial services, but diffusion is held back by a lack of user awareness and technical performance that is not always optimal.
The corporate engine
The Bank of Italy notes strong growth in the B2B segment, where companies take advantage of integration with their ERP systems to automate payments, collections and reconciliations. In 2024 the average value of transactions exceeded 2,200 euros, a sign of an increasingly oriented use of corporate treasury management. Payment Initiation Service (PISP) and Account Information Service (AISP) operations show a significant increase, confirming a growing interest in integrated and low-cost payment solutions compared to traditional channels.
Dominant Italian operators, but little presence abroad
The report highlights a strong national concentration: 79% of payments and 60% of information accesses via APIs, i.e. technological interfaces that allow the secure exchange of data, come from Italian operators. However, internationalization capacity remains low: out of 20 Italian Third Party Providers (TPPs), only one operates across borders. On the contrary, countries such as France, Lithuania and Ireland have a higher number of operators also active abroad, a sign of a more competitive and dynamic ecosystem.
Perspectives between PSD3 and Open Finance
The quality of APIs improves, with an error rate below 5% and average response times of around 600 milliseconds, but the future of the sector will depend on regulatory and technological evolution. The next PSD3 and the FIDAR regulation, which complete the framework of European regulation, could strengthen the adoption of more balanced remuneration models, such as the SPAA (SEPA Payment Account Access) scheme, and encourage the evolution towards Open Finance. The Bank of Italy underlines that Open Banking represents a strategic lever for innovation in payments, but its growth requires clear added value for users and a structural commitment from the banking system.
