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The advent of the digital age has brought unprecedented opportunities and challenges to financial institutions, and has become the core clue of financial reform in the new era. Among them, with the development of open banking, drastic changes have taken place in the financial field from technology to business, from system to supervision, and the innovative concept of open finance has gradually been derived. This book is a study on open finance, which focuses on the impact of digitalization on financial elements, including the open and platform-based changes of financial institutions, financial products, financial markets, financial systems, and financial culture; on the other hand, the impact and iteration of digitalization on financial functions, including currency, financing and resource allocation, payment and settlement, risk management, information provision, incentives and constraints, are also constantly being reconstructed and integrated.