The Game Just Changed: JPMorgan’s Data Move and What It Means for Bank Data Monetization

Last month, I had the privilege of presenting to senior financial leaders at the ABA PSAC event on a topic that’s quietly transforming the competitive landscape: open banking.

The evening prior, during the networking reception, the conversations had a thoughtful, measured tone—less of a debate, more of a shared reflection. But by the next morning during my, it became clear that while participants were at different stages of their open banking journeys—some building, some exploring, some just beginning—the underlying questions were remarkably aligned:  

As we modernize infrastructure and open access, how do we ensure we’re also capturing the value we’re creating?

That theme came into even sharper focus just days later, when JPMorgan made headlines by announcing it would begin charging fintechs for access to customer data [read article].

Your Bank Is Sitting on Monetizable Infrastucture - And Likely Undervaluing It

For years, financial institutions have opened their digital doors—often via aggregators like Plaid, Yodlee, and MX—enabling third parties to access customer data in the name of innovation. But in doing so, many banks have unknowingly subsidized entire fintech business models.

These fintechs have monetized your data, your trust, and your customer relationships—without absorbing the infrastructure costs, regulatory scrutiny, or compliance burdens that come with them.

Even more concerning, this unmonitored access has sometimes exposed customers to fraud and misuse. When customer data is scraped or stored by third parties —often without the customer’s full understanding—it creates a vulnerability. And when things go wrong—it's the bank—not the fintech—that risks losing the customer’s trust.

That’s why JPMorgan’s move isn’t just about revenue — It’s a recalibration. A signal that this is proprietary infrastructure— not a public utility. And if others want to build on it, they’ll need to come to the table fairly.

If your bank has built APIs, implemented RTP or FedNow, or is investing in ISO 20022, you are already sitting on infrastructure. The only question is: are you capturing the value you’ve created — or giving it away?

This is your moment to flip the script. Not only can you protect your brand and customer relationships—you can generate revenue, deepen partnerships, and lead in the emerging value-exchange economy.

The Hidden Cost of Open Access

While most institutions have prioritized compliance and access, few have established pricing, prioritization frameworks, or monetization strategies for API and instant payment access. That’s a missed opportunity. You’ve already borne the cost of modernization—why let third parties build profitable products on your back?

Think about it:

• You maintain the customer relationship.

• You absorb the fraud risk.

• You ensure compliance and identity verification.

• And now, you’re expected to allow unregulated entities to extract value from your ecosystem?

JPMorgan’s move reframes the narrative: customer data and payment access are assets. Assets have value. And value can—and should—be priced.

Bank Data Monetization Isn’t Just for JPMorgan—It’s Your Competitive Advantage

You don’t have to be a global giant to benefit. In fact, regional and community banks may be better positioned to turn monetization into a competitive play. Here’s why:

• You’re more agile. You can design and pilot monetization models faster, without layers of red tape.

• You have closer fintech partnerships. Your fintechs want win-win relationships. Offering premium APIs or co-innovation opportunities creates stickiness.

• You can offer transparency and trust. In an era of rising data privacy concerns, being intentional—and ethical—about how access is granted can differentiate you.

What could monetization look like?

• API access tiers: Offer developer-friendly APIs with premium pricing for high-volume or high-value use cases (e.g., payment initiation, account verification, instant disbursements).

• Priority rails: Charge for premium RTP or FedNow delivery windows – especially for B2B disbursements where timing and certainty create a competitive advantage.

• Embedded finance programs: Charge for “preferred partner” access into your ecosystem—just like cloud providers do.

Let’s be clear: this isn’t about nickel-and-diming fintechs. It’s about defining value, creating alignment, and building sustainable models where everyone benefits.

Bank Data Monetization in Action: 3 Steps Every Financial Leader Should Take Now

If you’ve been tracking the growing urgency around open banking, API strategy, and data monetization – but aren’t sure what steps to take—here’s my advice:

1.    Audit Your Monetizable Assets

Make a list of every access point you currently offer:

• APIs (account info, balances, payment initiation, etc.)

• Real-time payment send/receive capabilities

• Customer data (categorized transactions, behavioral insights)

• Embedded finance enablers (e.g., onboarding, KYC, risk scoring)

Then ask: Who’s using it? Are they paying for it? What’s the cost to support it? What would it take to tier or control access?

2.    Develop Your Monetization Playbook

This is not a “copy JPMorgan” moment. You need a model that reflects your customer base, technology maturity, and risk appetite. That might mean:

• Defining access policies (who gets what, when, and how

• Creating pricing frameworks for high-demand services

• Designing fintech onboarding pathways that drive revenue and compliance

Don’t go it alone—this is where bringing in an experienced, vendor-neutral advisor can accelerate the process.

3.    Lead with a Position of Strength

Monetization isn’t just about new income—it’s about shaping your role in the financial ecosystem. It’s about protecting customer relationships while enabling innovation. It’s about moving from “data donor” to “ecosystem orchestrator.”

The institutions that define their terms now will lead tomorrow. The rest will be left reacting to someone else’s playbook.

Let’s Build Your Monetization Strategy—Together

If this article stirred something in you—if you had an “aha” moment about what your bank might be leaving on the table—it’s time to act.

Download your free copy of the "Out in the Open – Financial Institution Toolkit for Open Banking Readiness" to get started with a practical, high-impact framework.

Ready to take action? 🔗 Schedule a 30-minute strategy session or email me directly at marcia@fintech-consultant.com.

About the Author

Marcia Klingensmith, known globally as the Instant Payments Maven™, is the CEO & Founder of FinTech Consulting. With over 20 years of experience at Visa, Bank of America, Wells Fargo, and FIS Global, Marcia helps financial institutions and fintechs modernize payments, unlock monetizable use cases, and deliver competitive advantage through open banking, instant payments, ISO 20022, and AI strategies. She is a member of the Faster Payments Council and a trusted advisor to senior leaders across the U.S. and the Caribbean.

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