JP Morgan Chase and Intuit have formed a partnership to make sharing financial data easier and safer through an application programming interface.
The companies said they will introduce Open Authentication and will exchange data through the Open Financial Exchange (OFX) 2.2 API.
The functionality, which will be delivered in phases, is an alternative to screen scraping, a practice that requires sharing usernames and passwords with third-party apps and one that Chase’s top execs have condemned in the past.
Intuit Blue Site
Instead, the new model will use a token to authorize Intuit to download the requested financial data.
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