More than 15 million people and businesses in the UK - equivalent to nearly one in three adults - used services powered by open banking in July.
The milestone comes six-and-a-half years after the rollout of open banking in the UK and is up from 10 million just a year ago.
The latest figures from Open Banking Limited (OBL) also show that services powered by the technology were used a record 2.04 billion times, up 3.5% from June, with Brits tapping it for everything from paying taxes to ordering dinner.
Payments remain the biggest driver of adoption, with July’s data revealing that the total value has reached 29.89 million.
Variable Recurring Payments (VRPs) are emerging as a key open banking enabled innovation, giving consumers and businesses greater control and flexibility over regular payments. In July, VRPs accounted for over four per cent of all open banking transactions - an 8.6% increase, to 4.26 million.
From HMRC tax payments (£4.7 billion in January) to retail giants like Just Eat and Tesco, and travel brands such as Ryanair, growing consumer and business trust is driving momentum and uptake across different sectors, says OBL.
The latest figures come shortly after the Data (Use and Access) Bill passed in parliament, paving the way for the expansion of the open banking model, giving consumers the power to share their data more widely across new use cases in energy, finance, telecoms and retail.
Henk Van Hulle, CEO, OBL, says: “This data shows how open banking is now part of everyday life for millions of people and businesses across the UK - from paying taxes to shopping online. It’s fast, secure, and built on trust.
"To maintain momentum and unlock its full potential, we look forward to working closely with government, regulators and the wider ecosystem, ensuring open banking delivers even greater value, innovation and impact for everyone.”