Weatherman2020
Diamond Member
WHAT FRESH HELL IS THIS?
Facebook to Banks: Give Us Your Data, We’ll Give You Our Users.
The social-media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances, as part of an effort to offer new services to users.
Facebook increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends. The company over the past year asked JPMorgan Chase JPM 0.03% & Co., Wells Fargo WFC 0.10% & Co., Citigroup Inc. C 0.01% and U.S. Bancorp USB 0.04% to discuss potential offerings it could host for bank customers on Facebook Messenger, said people familiar with the matter.
Facebook has talked about a feature that would show its users their checking-account balances, the people said. It has also pitched fraud alerts, some of the people said.
Data privacy is a sticking point in the banks’ conversations with Facebook, according to people familiar with the matter.
Facebook to Banks: Give Us Your Data, We’ll Give You Our Users.
The social-media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances, as part of an effort to offer new services to users.
Facebook increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends. The company over the past year asked JPMorgan Chase JPM 0.03% & Co., Wells Fargo WFC 0.10% & Co., Citigroup Inc. C 0.01% and U.S. Bancorp USB 0.04% to discuss potential offerings it could host for bank customers on Facebook Messenger, said people familiar with the matter.
Facebook has talked about a feature that would show its users their checking-account balances, the people said. It has also pitched fraud alerts, some of the people said.
Data privacy is a sticking point in the banks’ conversations with Facebook, according to people familiar with the matter.
