25 July 2017
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Chase and Finicity agree customer data exchange deal

11 July 2017  |  3316 views  |  0 Source: JPMorgan Chase

Finicity, a leading provider of real-time financial data aggregation and insights, has signed an agreement with JPMorgan Chase to enhance the security and quality of information the bank’s customers choose to share with apps.

“The customer’s financial data is at the center of a superior experience with financial apps and services,” said Finicity CEO Steve Smith. “We share JPMorgan Chase’s commitment to helping customers better manage their finances through data access, quality and intelligence.”

The companies will use a direct application programming interface (API) to allow Chase customers to share information securely with the financial apps and services that Finicity supports. This tokenized access will eliminate the need for customers to share their Chase credentials with third-party apps.

As a financial data aggregator, Finicity's leadership in supporting such agreements will allow the broader FinTech and financial services community to give common customers the ability to share their data with a wide variety of apps and services
The agreement is based on two shared goals:
• Protecting consumers’ security and privacy while helping them make smart financial decisions.
• Quickly delivering the most reliable and highest-quality data.
“Working with Finicity, we will enable our customers to make informed decisions while protecting their Chase banking credentials,” said Bill Wallace, head of Chase Digital Banking.

Finicity has established relationships with a variety of service and application providers that allow individuals and organizations to manage financial processes. This includes providing data aggregation for several of the most popular personal financial management (PFM) tools, as well as digital asset and income verification solutions for the lending industry through commercial relationships with several large financial institutions and service providers.

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