Bosnia and Herzegovina

According to The Global Findex database, 72% of the citizens of Bosnia and Herzegovina had access to the internet. 

One of the main factors slowing down the adoption of Open Banking technology in Bosnia and Herzegovina is the complex political and financial reality in the country. Entering the EU will hopefully change that. The country is slowly yet steadily embracing the OB challenge. According to Statista, Bosnia and Herzegovina’s largest segment in 2022, will be Digital Payments with a total transaction value of US$859.90m.

According to The Global Findex Database, 79% of Bosnians had bank accounts in 2021, leaving 21% unbanked.

In 2019, 7 Fintechs operated in Bosnia and Herzegovina.

According to Statista, Bosnia and Herzegovina’s largest segment in 2022, will be Digital Payments with a total transaction value of US$859.90m.

The market’s largest segment will be Digital Investment with a total transaction value of US$6.52m in 2023. The average transaction value per user in the Digital Investment segment is projected to amount to US$245.40 in 2023.

The Digital Investment segment is expected to show a revenue growth of 27.8% in 2024. Total Transaction Value in the Digital Investment segment is projected to US$6.52m in 2023.

According to the Cambridge Centre of Alternative Finance, 24% of the citizens of Bosnia and Herzegovina had basic or above basic digital skills.