JPMorgan Strikes Data Access Deals with Fintech Aggregators Amid Open Banking Evolution
JPMorgan Chase & Co. has finalized paid-access agreements with leading fintech data aggregators Plaid, Yodlee, Morningstar, and Akoya. These deals establish compensation frameworks for customer account data used by third-party financial apps, resolving longstanding disputes over fair value exchange in open banking ecosystems.
The agreements arrive as the CFPB's pending open banking rule continues reshaping U.S. financial data standards. JPMorgan's proactive negotiations reflect institutional efforts to balance innovation with data security—a critical consideration as fintech integrations multiply across wealth management and payments infrastructure.
Market response remains muted despite the strategic implications. JPM shares traded at $305.80 midday, down 1.19% amid broader market pressures, though maintaining double-digit year-to-date gains that outpace traditional banking peers.
