Konsentus TPP Tracker reveals ‘significant shifts’ in how TPPs operate across the EEA

In 2024, the total number of registered third-party providers (TPPs) reached 568, with 372 in the European Economic Area (EEA) and 196 in the UK, while Germany retained its position as the top EEA market by home-regulated TPPs, according to Konsentus.

The latest Konsentus ‘Third Party Provider Open Banking Tracker’ has revealed that the fourth quarter of 2024 saw the first decline in total EEA-regulated TPPs since June 2023, with a net decrease of four.

However, the UK recorded a “modest” increase of an additional two TPPs compared to the previous quarter.

Konsentus cited regulatory permission changes as a “key market indicator”, given that 20 TPPs underwent permission changes across the EEA and UK combined in the fourth quarter of last year.

Of those, nine TPPs gained new Open Banking regulatory permissions and 11 TPPs either became unauthorised, or had their Open Banking permissions removed.

Konsentus said that a higher number of TPP removals in the EEA compared to new registrations “may indicate a maturing market and emerging consolidation trends”.

Germany remains the top EEA market by home-regulated TPPs, with 35, despite two TPPs having their permissions removed. France, Sweden and Poland each have 32 home-regulated TPPs.

Germany joins Italy in having the highest number of passported-in TPPs at 164, following the approval of two additional TPPs to provide Open Banking services in the country.

The latest data showed passporting activity “remained steady” in the final quarter of last year, following a “surge” in the previous quarter, which Konsentus said indicated a period of market consolidation and stability.

As a result, all EEA countries now have at least 108 non-domestic TPPs approved to provide Open Banking services, up from 105 in the third quarter of 2024. Meanwhile, 210 TPPs, or 56%, now passport their Open Banking services outside their domestic market.

Konsentus also highlighted a “significant milestone” having been reached in the EEA, with 17 out of the 30 EEA countries having over 150 authorised TPPs, more than doubling from a year ago.

Mike Woods, chief executive officer, Konsentus

“As Open Banking adoption deepens, we continue to see significant shifts in how TPPs operate across the EEA,” said Mike Woods, chief executive officer of Konsentus.

“With 66% of EEA-regulated TPPs now able to initiate payments on behalf of account holders, the need for vigilant oversight remains critical to managing associated risks.”

He added: “At the same time, cross-border expansion remains a key driver of ecosystem growth. More than half of EEA TPPs now passport their Open Banking services beyond their domestic market.

“This increases the likelihood that a third-party fintech requesting account access will be regulated in a different market from where the transaction occurs.”

Woods said that while the number of home TPPs remained “static” over the past year, all growth came from passported TPPs – rising by more than 16% from 134 to 156.

“This reflects a strategic push by TPPs to scale their businesses internationally, reinforcing the importance of robust, real-time regulatory monitoring to ensure trust and compliance in an evolving financial landscape,” he added.

Further reading: Konsentus chosen by Namibia’s central bank to deliver Open Banking standards