Search Trend Estonia - Nordigen

Open banking search trend in Estonia

| Article by: Laura AasheimProfile Image Laura Aasheim 3 min

Online search trends can be valuable insights into what is popular and what people are interested in. Using Ahrefs, we found and analysed the top open banking search trends in Estonia.

What is Open Banking?

Open banking is a banking practice that securely shares financial information, such as consumer banking transactions and other financial data, to third-party financial service providers. Sharing data is done through the use of application programming interfaces (APIs) and only with the consent of customers. Open banking is the driver behind both innovation and competition in the financial industry.

Open banking in Estonia

Estonia has always been a frontrunner when it comes to all things digital. They had online banking already in 1996, mobile banking in 2000 and upgraded to e-ID in 2002 (European Payments Council, 2020). Additionally, since 2009, pensions and social benefits have only been paid out electronically (European Payments Council, 2020). It is no surprise that digital and instant payments are the norm in Estonia.

99% of all Estonian financial transactions occur digitally, making Estonia a cashless society (Invest in Estonia, 2020). With more than 80 fintechs, ranging from innovation startups to blockchain leaders, Estonia is a global centre of excellence for fintech (Invest in Estonia, 2020).

To find out more about open banking in Estonia click here.


Top search trends in Estonia

  • Open banking

“Open banking” has 10 monthly searches alone and 10 with matching terms. The Estonian term for open banking “avatud pangandus'' has no monthly searches. “PSD2” matching terms have a total of 190 monthly searches. The search for open banking regulations is more popular than open banking itself, in Estonia, but in general open banking lacks popularity within the general population.  

  • API

“API”, also known as application program interface, has 600 monthly searches alone in Estonia. “API”  and matching terms has a monthly search volume of 2.5K.  While laymen are searching for “API” to educate themselves on what it is, developers are interested in specific APIs and API formats like “Rest API”.

  • EBA

EBA, or the European Banking Authority, is a regulatory agency of the EU that works to increase EU bank transparency and identify weaknesses in their capital structures. “EBA” is searched 150 times monthly in Estonia. Those searching for “EBA” are very interested in the EBA regulations with “EBA koolituskeskus” receiving 270 monthly searches. Like with “open banking”, Estonians are interested in understanding regulations.

  • Fintech 

Estonia is a global centre of excellence for fintech and they have always been a frontrunner when it comes to all things digital. “Fintech” and matching terms alone has a monthly search volume of 160. In line with the popularity of “API”, the popularity of search terms “fintech”, “open banking”, “startup” and matching terms have a 1.6K monthly search volume.



European Payments Council. (2020, September 23). Country profile: digital and instant payments are the norm in Estonia. European Payments Council.

Invest in Estonia. (2020). Fintech. Invest in Estonia.

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