(Bloomberg) -- The biggest U.S. banks, alarmed by the growing use of data-hungry apps that help consumers track their finances, are offering a technological compromise.

Instead of allowing third-party aggregators such as Mint to directly access customer records, the banks would dole out information in protected data packets, using a process known as tokenization, people with knowledge of the matter said.

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access