APIs

The deal points a way forward, not only to resolve the debate over screen scraping and ownership of customer data but to redefine banks' value proposition.

Regardless of what happens with the politically uncertain consumer bureau, consumer data access is an example of a CFPB issue that is apolitical.

Customers of JPMorgan Chase will no longer have to surrender their bank credentials in order to use Intuit products like Mint, TurboTax or QuickBooks.

Technology toolkits such as application programming interfaces (APIs) have enabled small businesses to use simple programming to extend online payments to consumers, and the same technology can be applied to marketplace transactions.

A consortium of fintech companies have formed a new industry group to advocate for better data sharing via open APIs.

Quicken is working with PayNearMe's Prism RESTful API to allow customers to see real-time transaction data and historical account information from significantly more billers in the Quicken personal finance platform.

The processor has launched its Integrated Solutions Group, a new segment that focuses on software development tools for integration with First Data platforms.

Manhattan-based Municipal Credit Union has launched a cloud-based open API platform from Payveris that supports digital payments and commerce, including account-to-account transfers, bill payment and other services on desktop, tablet and mobile devices.

Chatbots, virtual assistants and the like may mean fewer direct interactions between banks and consumers, fintech leaders say. But branches will become self-service destinations.

Los Angeles fintech firm InvestCloud has acquired London-based Babel Systems for $20 million.