Get ready—2025 is shaping up to be the year open banking and pay-by-bank payments truly steal the spotlight. Pay by Bank has been hitting the mass-market, by speeding up, streamlining, and seriously upgrading how we move money around. Here’s the scoop on what’s making waves. The U.K. alone now boasts over 10 million open banking users, which has doubled in the last 2 years.

Pay-by-Bank is the Star of the Show

Who needs credit cards when you can pay directly from your bank? Pay-by-bank is fast and secure direct account-to-account payment method powered by open banking that skips the middleman (and their fees).  

Here’s why everyone’s loving it:

• It’s Cheaper: No card fees for businesses means savings for everyone.
• ‍It’s Safer:  Uses Strong Customer Authentication (SCA) which is 3x more effective at reducing fraud. ‍
• It’s Faster: Instant payments are becoming the norm, no matter where you live.

Curious to learn more about Pay by Bank with Nello Pay or want to get in touch with the team? We’re happy to hear from you!

Beyond Payments: Financial Services, Your Way

Open banking isn’t just about payments, it’s about creating smarter, more personalized financial tools. In 2025, we’ll be seeing a lot more banks and fintechs teaming up and offer cool stuff on Embedded Finance. Need a loan while shopping online? Done. In addition we’ll see more on tailored recommendations. Save, spend, or invest smarter with personalized insights. The result? More access, and better-tailored offers for consumers and small businesses.

Digital Wallets + Open Banking = A Match Made in Payments Heaven

Love your digital wallet? Get ready to love it more. By 2025, wallets will integrate open banking to make  wallet top-ups and access to credit seamless. Think of them as the ultimate one-stop shop for all your payment needs.

Wallets paired with open banking’s low fees and speed will be a big hit. And with more retailers jumping on the pay-by-bank bandwagon, the future of payments is looking ultra-slick.

What’s Driving This Revolution?

A mix of smart regulation and cutting-edge tech is fueling open banking’s rise:

• Regulators Have Your Back: New rules mean tighter security. ‍
• Tech Upgrades: AI makes fraud detection smarter, and blockchain could take security and efficiency up a notch. Learn more about How Neonomics Enhances Financial Crime Security.  

Challenges? Sure. Overcomable? Definitely.

Not everyone’s sold on open banking yet. As with any new technology, trust and awareness are hurdles, but we're on it!

• Check out how open banking can save you time and money.
• Learn more about the rock-solid security measures open banking offers.
• Success stories are piling up, proving this isn’t just hype. See some of our customer success stories here!

2025: More options, more conversion
In the coming year open banking will continue to improve the way we pay and engage with financial services. Pay-by-bank is becoming the go-to for fast, cost-efficient, and secure payments. Whether you’re a consumer  looking for a fast and safe way to pay or a business looking to reduce costs and improve payment efficiency, or unlock new revenue streams, there’s a lot to look forward to.

So buckle up—because the future of finance is coming in hot.

Want to learn more? Contact us or book a demo here.  

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