JPMorgan Chase to tokenize open banking permissions

JPMorgan Chase, Envestnet l Yodlee sign agreement to increase customers’ control of their data — JPMorgan Chase & Co — “Envestnet I Yodlee is committing to send 100% of its requests for Chase customer data through the bank’s secure API (application programming interface). This will ensure the apps can receive Chase customer data they need while customers control what’s shared with whom…. Because the secure API uses a token-based approach, customers will no longer need to give out their username and password.”






What's New in Payments

Uber eyes move into banking and payments business

Uber is making a fintech push with a New York hiring spree — CNBC — “There are many possible payment and lending innovations Uber could come up with: It has 93 million active users globally, most of whom use linked credit cards or fund a wallet called Uber Cash to pay for rides and food delivery… Creating a bank account has been discussed at a high level at Uber but may be years away, or the company could decide against it.”




Survey: US consumers want one app for banking and payments

Two-thirds of consumers favour single mobile app for banking and payments over cash and physical cards — Entersekt — “More than two-thirds (68%) of regular banking app users in the US would ‘like to do all banking and payments via one single mobile app’. A similar majority (67%) claim they would be less likely to use cash or physical credit cards if they had such an app. The lure of an all-in-one combination app is stronger among younger adults (18 to 44 years) who regularly used banking apps: just over three-quarters (76%) want one, compared with only 50% of those aged 55 and over.”