Fintech Beat
Appnesia, Screen Scraping and APIs
Mar 22, 2024
JPMorgan's experts discuss CFPB's proposals, screen scraping vs. APIs, and privacy implications. They delve into connected banking tools, data security, privacy vs. innovation in fintech, and the balance between legacy systems and startups in transactional settings.
31:23
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Quick takeaways
- CFPB's regulatory proposals aim to empower consumers with structured access to financial data.
- Chase prioritizes customer control and security through API adoption for data sharing.
Deep dives
Consumer Financial Protection Bureau Proposal on Personal Financial Data Rights
The podcast discusses the Consumer Financial Protection Bureau's proposal on personal financial data rights released on October 19, 2023. This proposal aims to accelerate the shift towards open banking in the United States by empowering consumers with structured and timely access to their financial data held by institutions. Through this rule, consumers gain control to share the data with their Fintech service providers, marking a significant milestone in banking regulations.
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