JPMorganChase and Plaid have announced an extension to their data access agreement for the process of sharing consumer permissioned data.
Following this announcement, the agreement is set to continue to allow their shared customers to safely and efficiently access products they rely on for their financial needs, as well as ensure continued development within the Open Banking ecosystem.
In addition, this agreement also includes a pricing structure and outlines a series of commitments that JPMorganChase and Plaid made in order to ensure that consumers can access their data safely, securely, quickly, and consistently into the future. The institutions are set to work through development and technological investment to improve data access, while also focusing on meeting the needs, preferences, and demands of clients in an ever-evolving market and prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
More information on the JPMorganChase x Plaid agreement
According to the official press release, the announcement will ensure that customers will have the possibility to quickly, safely, and efficiently access their financial data for the future, as well as to stay connected to the products they rely on every day. At the same time, the extended partnership is set to ensure the ongoing access for the Chase customers who rely on Plaid in order to connect with the products and services they leverage.
The announcement comes as both Plaid and JPMorganChase have a long history of working together in order to ensure that JPMorganChase customers can connect to a variety of their needed products and services. These include personal financial management, payment, and investment tools. The collaboration also extends the existing contract between the two firms, which is expected not to impact Plaid’s current customer agreements and pricing.
