Fintechs Blast JPMorgan over Data Fees

PNC Considers Charging Fintechs for Access to Customer Data

PNC Financial Services Group Inc. is considering charging financial-technology companies for access to valuable customer data, following the lead of JPMorgan Chase & Co., Chief Executive Officer Bill Demchak said.

Fintechs blast JPMorgan over data fees

The largest U.S. bank says it will begin charging the firms to access customer financial data amid an open banking court battle.

JPMorgan’s New Data Fees to Shake Fintech Foundations: Innovation or Obstacle? | The Middle East Observer

JP Morgan Chase & Co. has announced plans to implement significant fees for access to customer bank account information. Expected to generate hundreds of millions of dollars, these charges could fundamentally alter the business models of fintech companies that rely heavily on free access to such data. The largest bank in the United States has […]

JPMorgan Chase To Charge Data Aggregators For Consumer Data Access: What It Means For US Open Banking - Data Intelligence

Late last week, news was released that has the potential to disrupt the trajectory of open banking in the US. JPMorgan Chase has been in discussions with data aggregators, telling them that it plans to charge them to access customer data. Traditionally, data aggregators like Plaid, Finicity, and MX have been able to access consumer banking data at no cost by using login credentials provided through third-party services. Introducing fees for this…

JPMorgan Chase to Charge Data Aggregators for Consumer Data Access: What It Means for US Open Banking

Late last week, news was released that has the potential to disrupt the trajectory of open banking in the US. JPMorgan Chase has been in discussions with data aggregators, telling them that it plans to charge them to access customer data. Traditionally, data aggregators like Plaid, Finicity, and MX have been able to access consumer banking data at no cost by using login credentials provided through third-party services. Introducing fees for this…