JPMorgan Tells Fintechs They Have to Pay Up for Customer Data

This certainly feels like a “the cows have mostly escaped, close the barn doors!” moment. I imagine this will proceed similarly to other incumbent businesses trying to milk their younger “partners”, and those will quickly turn into direct competitors instead.

Full disclosure, I work for one of their competitors, comments are my own, yadda, yadda.

This makes no sense. The people wanting these FinTech companies to have this data are already customers of JPMorgan (well, them and other banks). So they want to hold their customers' money and take it too? Oh, right. Now it makes sense.