JPMorgan, Fintechs Agree on Payments for Customer Data
The long-running dispute between JPMorgan Chase and the third-party apps that rely on its data has finally reached a resolution. According to CNBC, JPMorgan has signed contracts with fintech firms that account for more than 95% of the data requests made to its systems, agreeing to sell them customer information for a negotiated fee. The […]
Alibaba Taps Tokenization Tech for Cross-Border B2B Payments
Alibaba is gearing up to supercharge its vast business-to-business ecosystem by tapping JPMorgan’s tokenization infrastructure, laying the groundwork for a new kind of cross-border value network. The network will center on tokenized fiat currencies that function similarly to stablecoins. According to CBNC, Alibaba is already experimenting with tokenized U.S. dollars and euros, with plans to […]
New Approaches to Fighting New-Account Fraud
When financial institutions think about protecting against new-account fraud, they usually focus on the customer who has already applied and is being onboarded. But with the fraud typologies out there now, onboarding may be too late. Fraud detection needs to start as soon as the application for an account is being filled out. In a […]