A group backed by Wall Street’s biggest banks are pushing contract terms that would allow financial-technology startups quicker access to consumer financial data.

The Clearing House, owned by 25 of the country’s largest lenders, said Tuesday that it had developed a model data-access agreement to shorten a process that can take a year or longer to complete. The template was drafted using examples of existing agreements.

Lenders have been working on ways to share data to end a practice known as “screen scraping,” which often requires consumers to give their user names and passwords to share financial details with outside…

To read the full article log in. To learn more about a subscription click here.


READ  Amazon Launches Africa’s First Virtual B2B Technology Business Accelerator - Moguldom


Please enter your comment!
Please enter your name here