Bankers need to 'change mentality', embrace opening-up

Among all aspects on the path to open banking, including improved infrastructure, data and businesses, opening up bankers' minds is the most important, according to a leading executive in the financial services sector.

For years, banks have been reluctant to open up, worried that profits will shrink, said Lei Ming, president of CCB Fintech Co, the tech subsidiary of China Construction Bank Corp, at a forum on open banking on Monday.

"We bankers must change our mentality and change the internal organization of banks so that they will become increasingly open (to third parties)," he said.