IDEAS home Printed from https://ideas.repec.org/a/nwe/iisabg/y2025i2p115-127.html
   My bibliography  Save this article

Privacy-Preserving Management of Open Banking Data

Author

Listed:
  • Atanas Panayotov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The introduction of open banking in the EU has fostered an environment that drives innovation within the financial sector. This shift has enabled FinTech companies to develop a diverse range of services that leverage open access to banking data. However, by the end of 2024 – six years after its adoption – only 13% of EU consumers actively use these services. The broader adoption of open banking faces several challenges, with this study focusing on one of the most critical: data privacy. Specifically, it explores a quantitative methodology for assessing privacy risks within anonymized datasets, using an open banking dataset generated through synthetic data algorithms. The findings indicate that synthetic data techniques provide an effective solution for mitigating privacy risks associated with managing open banking data.

Suggested Citation

  • Atanas Panayotov, 2025. "Privacy-Preserving Management of Open Banking Data," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 115-127, July.
    • Handle: RePEc:nwe:iisabg:y:2025:i:2:p:115-127
    as

    Download full text from publisher

    File URL: https://www.unwe.bg/doi/alternativi/2025.2/ISA.2025.2.08.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G50 - Financial Economics - - Household Finance - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nwe:iisabg:y:2025:i:2:p:115-127. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Vanya Lazarova (email available below). General contact details of provider: https://edirc.repec.org/data/unweebg.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.