By FintechNews staff -Advancements in artificial intelligence (AI), cloud computing, big data, blockchain and e-commerce have come at the cost of personal data protection, as financial institutions adopt fintech , said the Chinese central bank’s Governor Yi Gang. -China’s central bank governor vowed to keep strengthening regulation of financial technology (fintech) companies, focusing on areas including payment services, antitrust issues and data protection. -Yi stressed in the speech that any “inappropriate connection” between the financial and business information systems in fintech companies should be cut off to prevent perceived monopolistic activities arising from the so-called closed-loop effect of “data-network effect-financial...