JPMorgan Chase has partnered with data aggregation and analytics platform Envestnet Yodlee to offer customers greater data protections and improved access to their financial data.
Envestnet Yodlee’s cloud-based data aggregation platform will provide the framework for JPMorgan Chase customers to send their financial information to the more than 1,200 third-party applications.
This is facilitated through the bank’s Application Programming Interface (API) using a token-based approach that allows customers to share their information without storing their usernames or passwords on the Envestnet Yodlee platform.
Bill Wallace, head of digital at JPMorgan Chase, said: “This will help our customers manage exactly who they give their information to, and understand how their information will be used.”
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