Chase Bank is giving its users more control over how their information is used thanks to a new partnership with Intuit, the tech company behind popular financial mobile applications such as Mint.

The partnership would allow Chase Bank users to more easily integrate their banking information with the apps in Intuit’s network. The move is a further attempt on Chase’s part to make mobile and third-party financial apps a bigger part of its customer experience.

“The most important part of this is giving control to the customer,” said Jamie Dimon, chairman and CEO of JPMorgan Chase. “Customers will get to decide what they want to share and when they want to share it – without having to hand over their password.”

Financial partnership
Consumers are more and more often using mobile as the hub of their digital worlds.

As more apps are released and more brands and institutions becoming available on mobile, consumers’ phones are now the centers of their digital lives.

Nowhere is that more apparent than in the world of financial services, where many consumers do almost the entirety of their banking and money management through their smartphones.

Chase Bank is taking advantage of this new change by partnering with Intuit, the company behind financial services such as Mint, TurboTax and Quickbooks.

According to the new partnership, Chase Bank customers can easily share their financial information between their Chase Bank account and their accounts on Intuit’s various platforms.

For example, it is now easier than ever for customers to automatically link their bank accounts to their account on Mint, the mobile app that automatically tracks spending and budgeting based on a consumers’ linked transactions.

With the integrated partnership, sharing that information is now safer and more secure as well as easier.

“We’re pleased to deliver a great experience for our shared consumer and small-business customers,” said Brad Smith, Intuit’s Chairman and CEO. “Intuit products, such as Mint, TurboTax Online and QuickBooks Online, provide tens of millions of people with a complete picture of their finances, so that they can make informed decisions for themselves or their business.”

Data control
The movie is an attempt on Chase’s part to put more control in the hands of its customers when it comes to what is done with their data.

The two companies have promised to place security and consumers control of data at the forefront of this partnership.

In doing so, customers now have the option to decide how much information is shared between their bank account and Intuit apps. For example, consumers can share just the financial information while requiring different passwords for each, or make them more closely integrated.

The partnership comes just a few months after Chase launched its own mobile payment service (see story).

The partnership signals a commitment to both mobile and security that should appeal to customers who desire a quicker and more seamless mobile financial experience.

“In partnership with Intuit, we’re launching a fast, simple and secure method for customers to selectively share their data,” said Gordon Smith, CEO of consumer and community banking at Chase. “We encourage all financial institutions, aggregators and application service providers to join us in helping consumers and businesses use technology tools to understand their financial lives, identify new needs and make better decisions about their money.

“We will continue to pursue technology and industry advancements that place consumers and businesses at the center, allowing them to control who has access to their financial information in a way that prioritizes ease of use and transparency for all,” he said.