, JPMorgan gives fintechs July deadline to sign new data deals: sources – Source Reuters Tech News, iBSC Technologies - learning management services, LMS, Wordpress, CMS, Moodle, IT, Email, Web Hosting, Cloud Server,Cloud Computing
News & Events

JPMorgan gives fintechs July deadline to sign new data deals: sources – Source Reuters Tech News

WASHINGTON/NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) has told financial technology companies that they will be barred from accessing its customer information by July 30 if they do not sign data access agreements with the bank and agree to a plan to stop using customer passwords to gather the data.

, JPMorgan gives fintechs July deadline to sign new data deals: sources – Source Reuters Tech News, iBSC Technologies - learning management services, LMS, Wordpress, CMS, Moodle, IT, Email, Web Hosting, Cloud Server,Cloud Computing

FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo

The largest U.S. bank by assets set the new deadline in a letter sent to the companies in late January, in which it also said they must agree a “concrete plan” to transition to a new method of collecting customer data, according to two people familiar with the matter.

Otherwise, JPMorgan will block all automated access to the data, including through so-called screenscraping, or the process of collecting data from one application to use it in another, the people said.

A JPMorgan spokesman confirmed the contents of the letter and said the company already has…

Read More…

Source Reuters Tech News

Source link