JPMorgan to Share Customer Data With Fintechs It Once Scorned
- Bank to block high-volume traffic from unknown computers
- Data deal will allow customers to more easily use outside apps
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JPMorgan Chase & Co. won a data-sharing agreement with Plaid Technologies that will allow its customers to more easily push banking data to outside apps for managing finances.
Plaid Technologies, which connects banks with financial-technology applications, will access JPMorgan customer data through the lender’s application programming interface, or API. That means Plaid will be able to download the data without storing customer user names and passwords.