Concrete application and conclusion The three challenges I raised today may not only imply extensive use of existing micro data but also require further efforts to exploit the new world of data opened up by digitalisation – the socalled Big Data. I do not intend to elaborate much on concrete applications and challenges that come with Big Data.
Of course, these vulnerabilities were compounded by: (i)  a weak legislative and regulatory infrastructure, in which CLF, the parent holding company was not subject to formal regulation;  (ii)  poor internal governance; and  (iii)  insufficient regional regulatory collaboration.