JPMorgan Chase signed updated contracts with Plaid, Yodlee, Morningstar, and Akoya, accounting for more than 95% of open banking data requests to the bank’s systems. FIs that have made no effort to securely transmit consumer data are lagging technology-forward peers in customer experience and consumer privacy and security. Without a policy nudge, it’s easy for FIs to be tempted to put open banking on the back burner—alongside the digital transformation that should have come with it.

Spiking client demand for ESG-focused investment products will drive AUM growth over the next three years. Yet a lack of quality or public ESG data threatens investment managers’ ability to offer accurate products and might see them run afoul of rising ESG regulatory standards.