Facebook in talks with banks to expand customer service

Facebook wants banks to share your personal finances: Report

However, Facebook said that users must opt in to linking the Messenger chat app to their bank accounts.

Shares of Facebook surged almost 3% following the report.

The Wall Street Journal originally reported that over the previous year, Facebook had been asking banks to share financial information on customers, including spending habits and bank account balances, as a way to better integrate commerce into Facebook, and specifically Messenger.

The petition, which went out to numerous largest banks across the country, is sure to draw criticism from many interested in retaining data privacy, particularly in an area as sensitive as personal finance. "A recent WSJ story implies incorrectly that we are actively asking financial services companies for financial transaction data-this is not true", Facebook said in statement.

Facebook has proven time and again that it plays fast and loose with users' data, and while it's not cool for some random third-party to know you check in at Chipotle twice weekly, it's way less cool for them to know exactly how much money you have, especially considering Facebook would presumably need to connect Messenger to the servers of banks to provide this information in real-time. I reached out to Facebook for comment and will update this post if I hear back.

Manchester United closing in on £60m Toby Alderweireld capture
The Mirror broke the news on Sunday morning, and United are confident of getting a deal tied up within the next 48 hours. Having failed to sign Harry Maguire from Leicester City , the Special One turned his attention to the Colombian blocker.

US banks including JP Morgan Chase, Wells Fargo, Citigroup and US Bancorp have been asked to consider potential deals that would host bank customers on Facebook Messenger.

At any rate, according to the WSJ, Facebook is not interested in using any data it would gain from banks for ad-targeting purposes.

A report out Monday in the Wall Street Journal claims Facebook has asked some of America's largest financial institutions to share their customers' private financial data.

Facebook is now trying to recover from the Cambridge Analytica scandal, which significantly damaged the company's image after it was revealed that a London-based firmed had gained access to as many as 87 million users to influence US President Donald Trump's 2016 election campaign.

"Facebook has talked about a feature that would show its users their checking-account balances, the people said". A cell phone can receive text-message fraud alerts, and anyone responsible already regularly looks at their bank accounts on a computer or via a bank-specific mobile app with minimal inconvenience. An essential part of these efforts is keeping people's information safe and secure, ' Facebook said in a statement.

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