Envestnet | Yodlee, the data aggregation and analytics platform, has entered a partnership with JPMorgan Chase, the investment bank JPMorgan’s community and consumer banking arm.
The agreement will see the two parties share data, which is set up make it safer for JPMorgan Chase’s customers to share and use their personal financial information to improve their overall financial wellness.
The customers will be able to share this information to the more than 1,200 third-party applications on the Envestnet | Yodlee financial data aggregation platform, providing JPMorgan Chase customers with an efficient way to tap into their offerings.
“We believe our partnership with Chase will allow further consumer choice, reliability, and insight into how and where their data is being used, along with improved overall financial wellbeing,” said Stuart DePina, CEO of Envestnet | Yodlee.
“As we move toward API-based connectivity in the United States, relationships like the one we have with Chase are laying the groundwork for this reality by giving consumers greater connectivity across their financial accounts, all accomplished through these types of secure and protected channels.”
JPMorgan Chase’s head of digital Bill Wallace added that the deal “will help our customers manage exactly who they give their information to, and understand how their information will be used.”
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