Shang Mengzhen
Digital finance represents the innovation of Internet technology in the financial field, promotes the further exploration and recognition of data value, and makes data sharing a hotly discussed topic. Open banking came into being against the backdrop of the rapid development of financial technology and the growing value of data. Its core lies in the data sharing between banks and third parties, which in turn promotes the integration and innovation of business. However, as an institution with a large amount of personal data of financial consumers, banks must take more effective regulatory measures to legally and compliantly protect consumers' personal data under the open banking model centered on information sharing. Therefore, from the perspective of law and economics, this paper analyzes the risks that may be encountered in the process of personal data sharing under the open banking model and emphasizes the importance of supervision. At the same time, a model is established to analyze the optimal legal supervision of personal data sharing and protection under the background of open banking, and a specific regulatory path for personal data sharing risks is proposed.
Open banking, Personal Data protection, Risk regulation, Law and economics