The National Bank of Georgia (NBG) has reported that the uptake of open banking services in the country continues to grow at a pace.
According to the National Bank, more than 915,000 transactions were carried out via open banking in the twelve months from February 2025 to February 2026.
“Open banking gives customers the power to decide for themselves who may access their financial data through digital channels, when, and to what extent, while also enabling them to initiate payments securely from their preferred platform. Data sharing and related operations are conducted via standardised APIs (Application Programming Interfaces), based on the customer’s explicit and informed consent.
Building a modern digital financial ecosystem is one of the National Bank’s foremost priorities, with open banking at its core. The foundations of this robust infrastructure were laid in the summer of 2019, after which a standardised framework was developed to enable account information sharing and payment initiation services through secure API channels.
The initiative took practical shape in 2021, when commercial banks joined the system and began offering customers entirely new banking products through open banking services. In July 2024, the ecosystem expanded beyond the traditional banking sector when the first non-bank entity received the National Bank’s authorisation to participate in open banking.
Statistics for the past twelve months confirm the upward trajectory of open banking adoption:
- 915,000+ transactions initiated via open banking. This figure indicates growing consumer confidence in fast and secure payment methods, confirming that open banking is becoming an integral part of everyday financial life.
- 5,000+ active users engaged with account information, payment initiation, and digital onboarding services. This reflects steady demand for innovative solutions that empower customers to manage and control their finances more effectively.
- 3 million+ total uses of open banking services. This scale confirms that the system has established itself as a solid and dependable foundation, ensuring the seamless functioning of everyday digital services.
It is worth noting that business interest in the potential of open banking is growing considerably. In response to market demand, it is important to emphasise that the open banking ecosystem extends well beyond traditional financial institutions and fintech companies; it opens up entirely new horizons for the broader business sector, including retail and e-commerce.
Participation in open banking is open to both entities regulated by the National Bank of Georgia and to organisations that were not previously subject to National Bank supervision. Where the relevant requirements are met, retail and other non-financial sector companies are able to provide account information access (AIS) or payment initiation services (PIS) directly. In practical terms, this means that businesses can integrate modern, instant payment methods directly into their own platforms. Since an open banking-initiated transaction is, by its very nature, an account-to-account payment, it significantly reduces the need for traditional intermediaries. Businesses can therefore take full advantage of the open ecosystem, lowering operational costs and enhancing security.
For a comprehensive overview of open banking integration in e-commerce and the new opportunities it presents for businesses, please consult the National Bank’s dedicated article: Open Banking in E-Commerce: New Opportunities and Development Prospects.
Organisations wishing to participate in open banking should consult the Open Banking Participation Rules. Further details regarding the regulatory framework and relevant rules can be found on the National Bank of Georgia’s website in the Open Banking section.
Those interested in open banking are welcome to contact the National Bank of Georgia’s Innovation Office at: [email protected],” the statement reads.
