In brief: JP Morgan folds Plaid on data access

If Open Banking is regulated in Europe (where banks have to share their data with third parties licensed under DSP2), in the United States, only private agreements govern the market. Gold JPMorgan recently declared wanting bill access to its data at FinTechs. And Plaid Just gave in.

In a recent press release, JP Morgan Chase is pleased to have reached a new agreement with Plaid, the American FinTech, known for its banking services. This agreement concerns an extension of access to JP Morgan Chase's bank data, which Plaid can therefore always use to ensure the continuity of its services.

The great novelty concerns the introduction of a tariff structure, making this access fee-paying for Plaid.

JP Morgan Chase and Plaid also agreed on a series of unspecified joint commitments.

Other actors, such as Visa, have for their part announced want to stop their Open Banking activities in the United States in this context of monetizing access to data.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate