For the third time this year, Finicity, a provider of real-time financial data aggregation and insights, announced that it reached a data-sharing agreement with a financial giant.
Earlier this year, Finicity reached a deal with Experian that enables consumers to provide income and asset information to lenders digitally through Finicity’s more than 16,000 integrations with financial services institutions.
Then, Finicity and Wells Fargo announced that the two companies reached a new data-sharing agreement that will enable third-party applications to access Wells Fargo customer data.
On Tuesday, Finicity announced that it reached a similar agreement with JPMorgan Chase that will allow the bank’s customers to share their data with third-party financial apps without having to reveal their login credentials.
According to the companies, the agreement will allow the companies to use a direct application programming interface that will allow Chase customers to share information securely with the financial apps and services that Finicity supports.
This will be done through tokenized access, which will eliminate the need for customers to share their Chase credentials with third-party apps, the companies said.
“Working with Finicity, we will enable our customers to make informed decisions while protecting their Chase banking credentials,” Bill Wallace, head of Chase Digital Banking, said.
Finicity CEO Steve Smith added: ““The customer’s financial data is at the center of a superior experience with financial apps and services. We share JPMorgan Chase’s commitment to helping customers better manage their finances through data access, quality and intelligence.”