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A Threat to Banks
Not all disruptions replace incumbents. Some reshape the structure of competition—who controls data, interfaces, and access—without eliminating existing players.
This session introduces architectural disruption, where value shifts not through new products alone, but through changes in how systems are organized and governed. Open banking exemplifies this kind of disruption. By requiring customer-permissioned data sharing, it challenges how established banks control customer information and compete with fintechs. JPMorgan Chase (JPMC) sits at the center of this shift.
In this session, we examine how JPMC is responding to the open banking shift. We will also use this case to synthesize the different forms of innovation discussed in the first four cases into an integrated framework. Please read the case below to prepare for discussion.
Case: JPMorgan Chase & Co.: Open Banking (9B21M060)Download JPMorgan Chase & Co.: Open Banking (9B21M060)
Now that you have read the case, consider the following case questions and bring your answers to class.
| Case Preparation Questions: 1. What problem is open banking trying to solve, and who benefits most from this shift in data access? 2. Is open banking disruptive? If so, does it fit the definition of a classic disruption or a platform disruption? 3. How does the shift from screen scraping to APIs change control, risk, and accountability in the financial ecosystem? 4. How do you assess JPMC’s approach to open banking? |