JPMorganChase and Plaid Agree on Prolonging Data Access Pact for Permission-Based Consumer Data Sharing
In a significant move for the open banking ecosystem, JPMorganChase and Plaid have renewed their data access agreement. This extended partnership will continue to ensure consumers have the right to access and share their own financial data securely and efficiently.
The renewed agreement will allow JPMorganChase customers to continue to quickly, safely, and securely access their financial data. This will enable them to utilise various products and services, enhancing their financial management experience.
Melissa Feldsher, Head of Consumer Payments at JPMorganChase, expressed her excitement about the continued partnership with Plaid. She emphasised that this renewed agreement will help the open banking ecosystem continue to thrive.
Eric Sager, Plaid COO, reiterated the partnership's importance, stating that it will continue to provide access for millions of Chase customers who use Plaid daily. He further added that the renewed agreement does not alter the firms' ongoing work on innovation and technological investment to improve data access.
The data access agreement outlines a series of commitments from both JPMorganChase and Plaid to ensure safe, secure, quick, and consistent data access for consumers. The agreement also includes a pricing structure.
It is worth noting that this renewed agreement does not affect the firms' current customer agreements and pricing, nor does it alter the series of commitments made by both firms to ensure safe, secure, quick, and consistent data access for consumers.
The CEO of Plaid, Zach Perret, mentioned in the reporting, reaffirmed the company's commitment to working with JPMorganChase to provide access to personal financial management, payment, and investment tools for JPMorganChase customers.
This extended agreement between Plaid and JPMorganChase continues to support the open banking ecosystem and will allow shared customers to safely and securely access their financial products. The renewed agreement will also continue the long relationship between JPMorganChase and Plaid.
In conclusion, the renewed data access agreement between JPMorganChase and Plaid is a significant step forward in empowering consumers to access and manage their financial data securely and efficiently. The partnership will continue to drive innovation and technological investment in the open banking ecosystem, benefiting millions of customers.
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