US-based multinational banking and financial services company JPMorgan Chase has entered into agreements with several significant data-aggregator firms. These deals allow JPMorgan Chase to receive payments for access to customer bank-account data from fintech companies, as reported by sources cited in the news.

Data aggregators act as intermediaries between banks and fintech platforms, facilitating services such as budgeting tools and payment apps through the retrieval of bank-account data. Historically, many of these firms accessed such data from banks without compensation, raising concerns among traditional lenders regarding both infrastructure costs and data security.

Revamping Data Access Economics

Under the new arrangement, JPMorgan will be compensated for its data-access services, marking a shift in how Open Banking data sharing operates within the United States. According to industry insiders cited by WebProNews, JPMorgan reduced its initial fee demands during extended negotiations, and aggregators secured concessions on handling data requests.

A spokesperson from JPMorgan stated that constructive discussions with aggregator and fintech partners led to agreements aimed at enhancing the safety and sustainability of the Open Banking ecosystem while ensuring customers can continue accessing their financial products reliably and securely.

These deals come at a time when regulatory frameworks are evolving. The Consumer Financial Protection Bureau’s (CFPB) Open Banking rule, introduced in 2024 under the Biden administration, granted consumers the right to move personal financial data between providers without cost. According to Reuters, banks have argued that this rule undervalues the costs and risks associated with large-scale data transfers, while fintech companies support it as a catalyst for greater access and innovation. In August 2025, the CFPB began revising the framework in response to industry feedback.