Facebook has asked major U.S. banks to share customer data to allow it to develop new services on the social network’s Messenger texting platform, a banking source said Monday.
Facebook had discussions with Chase, JPMorgan, Citibank and Wells Fargo several months ago, said the source, who asked to remain anonymous.
The Silicon Valley-based social network also contacted U.S. Bancorp, according to the Wall Street Journal, which first reported the news.
Facebook, which has come under intense criticism for sharing user data with many app developers, was interested in financial information such as bank card transactions, checking account balances and where purchases were made, according to the source.
Facebook confirmed the effort in a statement, but said that it is not asking financial institutions for transaction data.
“Like many online companies with commerce businesses, we partner with banks and credit card companies to offer services like customer chat or account management,” Facebook said.
The goal was to create new ways for Messenger to be woven into, and facilitate, interactions between banks and customers, according to the reports. The smartphone texting service boasts 1.3 billion users.
“The idea is that messaging with a bank can be better than waiting on hold over the phone — and it’s completely opt-in,” the statement said.
JPMorgan Chase spokeswoman Patricia Wexler referred to a statement given to the Wall Street Journal saying, “We don’t share our customers’ off-platform transaction data with these platforms and have had to say ‘No’ to some things as a result.”
Citigroup did not immediately respond to requests for comment, while Wells Fargo declined to address the news.
Don’t forget our elders can suffer in silence too: suicide prevention
Many people think that mental health and suicide are not topics that impact our elders but they could not be more wrong. The data tells us there continues to be an emerging trend when it comes to peop...
Wherever you look these days, not matter the developed country, whole population groups and peoples struggle with the daily grind of life. From children in state care to mental health, from affordable housing to the primary health system and from education to employmen...
For the last few years I have been fortunate to have been involved in the aged care sector and have seen both the lows and highs. Today we live in a world where most of us are living longer thank to more awareness around healthy living, the advancement of better medica...
You can’t go past a news paper, radio show or television news story these days without being flooded by all things Bitcoin or Crypto Currency. Some say it’s the new world of money while others suggest its all just a passing fad. Whatever your position or preference of...