BBVA and Bank of America, both announced new efforts to provide a rich supply of customer data to third-party companies and developers.
The experience is expected to work like this: Customers log in to the data aggregation service they use and are asked to verify or add a Bank of America account. They will then be connected to the Bank of America site to acknowledge their consent to share data. A spokeswoman declined to identify the two partners and said only that the bank is working with "all the major aggregators" to test this data-sharing model. "We value customer choice and want customers to securely access their information when and where they want," Michelle Moore, head of digital banking at Bank of America, said in a statement. "For customers who use data aggregation services, we are making it more transparent and simpler for them to see who they're sharing data with and to turn it off when they want."