JPM Mulls Over Monetizing Client Data: Will it Alter Fintech Business?

Key Takeaways JPMorgan (JPM) has informed fintech firms that it will begin charging fees to access their clients' bank account details. This will likely amount to hundreds of millions of dollars in revenues for the company. This was reported by Bloomberg, citing people familiar with the matter. The bank has sent updated pricing sheets to data aggregators that facilitate the connection between banks and fintechs like PayPal Holdings Inc.'s (PYPL) Venmo, Coinbase Global Inc. (COIN) and Robinhood Markets, Inc. ...