Recently, IDC released the report China Banking Industry Data Security Governance Market Insights, 2024, in which GienTech was recognized as a representative market participant in data security governance. The report notes that in 2024, the banking industry’s data security governance market has entered a new stage of development. Looking ahead, data security governance will become an integral part of banks’ overall data strategies, with increasing emphasis on holistic planning and data security management across the entire data lifecycle.

In the field of financial data governance, GienTech’s clients span state-owned commercial banks, joint-stock banks, policy banks, city commercial banks, as well as insurance and securities institutions. As of the end of 2022, GienTech had served more than 300 financial institutions in data governance initiatives.

Case Study: A Group Finance Company

GienTech assisted the client in establishing an overall data security management framework and implementation roadmap, defining the scope of data security management, and formulating data classification, grading principles, and protection strategies to mitigate data security risks.
In parallel, GienTech supported the client’s management team by interpreting data security regulations and policies, helping to build an enterprise-level data security assessment and identification mechanism, define data content security classification standards, and guide their implementation across relevant systems, ensuring data security and privacy protection.

In recent years, data security has become central to national security, economic security, and social stability. Since 2021, regulations and policies related to data security have been introduced at an accelerated pace, and by 2024, “data security” has been included in China’s government work report for four consecutive years.

For enterprises—particularly in the financial sector—accelerated digital transformation has led to the accumulation of increasing volumes of high-value data within business systems. At the same time, data security risks have intensified, and regulatory oversight has continued to strengthen. To help financial institutions accelerate data governance, GienTech launched a “Consulting + Products + Implementation” data governance service model in 2021, empowering the development of financial institutions’ data capability frameworks.

As the financial industry continues to evolve, data security governance faces new challenges. According to IDC’s China Banking Industry Data Security Governance Market Insights, 2024, data security governance within banks typically involves multiple departments, creating challenges in cross-departmental coordination. Many banks are still in the process of data governance, with issues related to data standard implementation and data quality, making data identification difficult and reducing the efficiency of automated classification and grading, while increasing reliance on manual processes.

Moreover, as part of digital transformation, financial institutions are expanding into new business scenarios and channels. Internally, data sharing is required; externally, data circulation is increasing. How to achieve business objectives while ensuring data security during data sharing and circulation has become a critical issue. In addition, the technical architecture for data security in the banking sector requires further upgrading, and systematic, platform-based data security governance capabilities need to be strengthened.

To address these challenges, GienTech has actively built a financial industry data security governance product and service system, encompassing strategic planning, product tools, and operational implementation services. This system provides full-lifecycle data security governance, safeguarding the rapid advancement of digital transformation in the financial sector while helping institutions cope with growing regulatory pressures.

GienTech’s data security governance offerings provide multiple advantages. At the strategic level, data security governance is closely aligned with overall data governance, enabling coordinated consideration of business needs and data security requirements. At the product level, solutions support data classification, grading, and desensitization, as well as customized development based on specific scenarios. In terms of operations and implementation, GienTech also delivers continuous operational services to clients.

Looking ahead, GienTech will continue to provide a secure and reliable data environment for financial institutions, supporting the high-quality development of the financial industry.