Revenue Forecast for Open Banking Firms and other Digital Transactions News briefs from 8/22/25

Revenue for all firms offering open-banking technology will grow at a compound annual growth rate of 16% to $11.7 billion by 2028, up from $5.5 billion in 2023, according to a report from management consulting firm MarketsandMarkets, which singles out Plaid, Envestnet, Finicity, and MX Technologies as primary U.S. developers of the technology.
Flex, a platform for health-related payments, and Therabody, a vendor of wellness technology, announced a program allowing customers to access a letter of medical necessity at checkout when purchasing products with funds from a health-savings account (HSA) or flexible spending account (FSA).
1st Commercial Credit LLC’s Vendor Pay Express Inc. affiliate has launched a digital payments platform allowing middle-market commercial buyers to make payments to suppliers, with a discount in recognition of early payment.
Evertec Inc. said it acquired a 75% controlling stake in Tecnobank Tecnologia Bancária S.A., a fintech vendor in Brazil, in a transaction valued at approximately $144 million. Evertec is a Puerto Rico-based processor.

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