Security Challenges in Open Banking: A Systematic Review and Conceptualisation of a Tri-Dimensional Security Framework

Open banking (OB) is rapidly transforming financial ecosystems by enabling controlled dfata sharing among multiple actors. While this transformation promises innovation and competition, it also introduces complex security challenges that extend beyond purely technical considerations. Despite growing attention in both academic and professional domains, existing reviews offer limited integration of security concerns with patterns of global adoption and cross-regional variation. This systematic review addresses this gap by analysing empirical research published between 1999 and 2025, with particular attention to how security technologies, regulatory policies, and user behaviour jointly contribute to the resilience of OB environments. Building on this synthesis, the study develops a tri-dimensional security framework that integrates technological, regulatory, and behavioural dimensions, grounded in established theoretical perspectives. The framework elucidates recurring trends as well as persistent and emerging virtual security challenges within OB ecosystems. The paper concludes by outlining directions for future research and by offering practical implications for scholars, industry practitioners, and policymakers.