WSJ: Facebook Asks US Banks for Financial Info to Boost User Engagement

WSJ: Facebook Asks US Banks for Financial Info to Boost User Engagement

Facebook Inc. has asked large U.S. banks to share detailed financial information about their customers, as part of an effort to offer new services to users, The Wall Street Journal reported on Monday, citing people familiar with the matter.


The financial information asked from the banks include card transactions and checking account balances, according to the report.


Facebook, which is trying to deepen user engagement, has asked JPMorgan Chase, Wells Fargo & Co., Citigroup Inc. and U.S. Bancorp to discuss potential offerings it could host for bank customers on Facebook Messenger, the newspaper reported.


The social media company said it wouldn’t use the bank data for ad-targeting purposes or share it with third parties, the WSJ said. 



Read on The Source

Share:

Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About HEDGEaccordingly.com