Open finance in Europe: What the numbers tell us

Open finance is often discussed as the future of financial services. But across Europe, millions of people are already using it.

Consumers are sharing their financial data to understand their savings, consolidate pensions, transfer investments and access more relevant financial services. And the numbers suggest that demand is growing rapidly.

Data from Anessa's infrastructure, previously operating under the Insurely brand, reveals a clear pattern: when people can see the value of sharing their financial information, they are willing to do so.

Open finance is already operating at scale

In 2025, more than 1.5 million people across Europe shared their financial data through Insurely-powered solutions, representing approximately 50% year-on-year growth.

In more mature markets, close to 15% of the population already uses services that rely on financial data sharing beyond traditional open banking.

If similar adoption levels were reached across Europe, this would represent tens of millions of active users annually.

These figures demonstrate something important. Open finance is not simply an emerging technology or an industry ambition. It is already changing how people interact with financial services.

And its adoption is not limited to digitally native generations.

More than half of the people sharing their financial data through these services are over 50 years old.

This challenges the assumption that connected financial services primarily appeal to younger consumers. The underlying motivation is much broader: people want better visibility, simpler processes and more control over their financial lives.

When the value is clear, adoption follows

One of the most interesting findings from our data is how quickly consumers adopt financial data sharing when presented with a clear benefit.

Even in less mature markets, more than half of consumers who are offered the opportunity to share their financial data for a specific purpose complete the process.

Whether they want to compare financial products, consolidate savings or move investments, consumers are willing to share information when it makes a difficult task easier.

This points to a significant amount of untapped demand.

Consumers do not necessarily ask for open finance by name. They ask for better financial experiences. They want to understand what they own, avoid unnecessary paperwork and make informed decisions without having to gather information from multiple providers themselves.

When technology makes these experiences possible, adoption follows.

Where financial data is making a difference

The impact is particularly visible in financial journeys that have traditionally been fragmented and time-consuming.

Savings and investment overviews

By bringing together information from different providers, financial institutions can give customers a clearer understanding of their holdings, performance and overall financial position.

Investment transfers and pension consolidation

Access to existing account and asset information can reduce manual data collection, simplify administration and help customers move or consolidate their investments more easily.

Financial advice and personalisation

With a more complete understanding of a customer's financial position, advisors and digital services can provide recommendations based on actual holdings and financial circumstances rather than incomplete information.

For financial institutions, these improvements also have commercial value. Less friction can mean higher completion rates, more efficient operations and stronger customer relationships.

The next opportunity: turning financial data into intelligence

As adoption grows, the opportunity extends beyond simply accessing financial information.

Financial data is often fragmented not only across providers, but also across formats, systems and product categories. Bringing it together is an important first step. Making it useful requires more.

With consented, reliable and structured financial data, financial institutions can build a more complete picture of their customers' financial lives and use that context to power better products and services.

This becomes increasingly important as AI transforms financial services.

AI-powered financial assistants, advisory tools and personalised applications depend on access to accurate, relevant information. Without the right financial context, their ability to deliver meaningful recommendations remains limited.

The same infrastructure that enables simpler investment transfers and consolidated financial overviews can also support a new generation of intelligent financial services.

The market is already moving

The growth of open finance reflects a broader change in the financial services market.

Consumers increasingly expect connected digital experiences. Financial institutions are looking for ways to improve efficiency, strengthen customer relationships and deliver more personalised services. And advances in technology are making entirely new applications possible.

These are powerful commercial drivers in their own right.

For financial institutions, the opportunity is not simply to make financial data available. It is to use that data to remove friction, create better customer experiences and develop services that were previously difficult or impossible to deliver.

At Anessa, we have spent years building the infrastructure that makes this possible, connecting financial institutions and enabling secure access to financial data across European markets.

The numbers show that consumers are ready.

The question now is how financial institutions will turn that demand into better products, services and experiences.

Explore how Anessa helps financial institutions access and make sense of financial data across Europe.