JPMorgan Lays Down The Law With FinTechs On API

JPMorgan Chase is putting pressure on FinTechs to transition to a more secure method built on its application programming interface (API) technology. The bank, which spends $11 billion in technology each year, has given FinTechs a July 30th deadline to sign data access agreements with the bank. The agreement would stop FinTechs from using customers’ passwords to access all their financial data...