Data sharing

Big banks increasingly are developing application programming interfaces to make their customers’ data available to third parties. But discrete deals between banks and third parties would be a bad outcome for consumers and the industry as a whole.

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.

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

Bank consortium R3 CEV, one of the most well-funded blockchain working groups, has endured criticism for its meticulous process. But if blockchains are most valuable with a network effect, maybe forgoing some agility is worth the long while.

State Street Corp. has named John Plansky as the new head of its Global Exchange data and analytics unit.