Open Banking Personal Financial Data Governance: Framework, Dilemmas and Strategies

The essence of “Open Banking”, as a representative of digital transformation in the financial industry, is data sharing. At present, with the continuous development of Open Banking practice, there are many challenges in Open Banking personal financial data governance, such as the risk of data authorization, data leakage, the lack of industry norms, and the lack of industry supervision. In this regard, on the basis of sorting out China’s Open Banking personal financial data governance framework, a scientific data governance mechanism should be constructed, a strict supervisory and regulatory system should be established, and the dual objectives of data sharing and risk prevention should be taken into account.