American Banker: Fidelity data-sharing hub aims to end screen scraping

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
12 June 2019

Fidelity data-sharing hub aims to end screen scraping

American Banker Online, Penny Crosman, Tuesday, 11 June 2019

“There’s demand for this as data sharing and data aggregation become more front and center of the banking landscape,” said Stephen Greer, senior analyst at Celent. “The aggregators have historically been more fintech friendly and almost seem like an invasive species to incumbent banks. Akoya comes from more of the institution side first, working to meet their needs rather than fintech needs.”

This will also be Akoya’s challenge, he said — balancing the needs of fintechs and banks.

“If I'm a fintech that has a machine learning algorithm that works better if I can ingest as much data as possible, I want as much customer data as I can get my hands on because I never know what my machine learning algorithm is going to pick up on," he said. "But if I'm the bank, I'm going to want to limit the amount of customer data third parties can get, and have them tell me why they need it.”

Read full article

News article details

Corporate Banking, Retail Banking
Media Type
News Articles
Geographic Focus
North America