Data integration

The bank's technology team was trying to figure out how to develop a system similar to the respected software program of Brown Brothers Harriman's investor-services unit. Now that State Street is buying that same unit, it can drop the project.

Lenders need to use alternative data as an overlay to traditional underwriting methods to help creditworthy customers in hardship because of the coronavirus crisis.

A CFPB event on data-sharing issues gave the parties a chance to debate the merits and risks of screen scraping, what can replace it and what consumers really want.

The heads of the two companies explain how the deal came about, what hurdles they face and how they plan to mash up their very different operations.

Akoya has been building a data-sharing network that gives fintechs access to bank account data through application programming interfaces as an alternative to screen scraping. JPMorgan Chase, Bank of America and Capital One are among its new owners.

Moving to an open banking system comes with both costs and benefits that each bank will need to weigh before diving in.

Visa's deal to acquire the data aggregator Plaid is likely to have ripple effects throughout the industry, including reduced tension between banks and fintechs over data sharing.

Financial institutions need to be aware of the platform model, strategic and reputational hazards that come with granting access to their networks.

PNC, Plaid and Venmo have been blamestorming over customer data-sharing issues of access, security and consent.