Facebook tried to persuade banks to give it their users' data by promising them features such as users being able to see their checking account balances or receiving fraud alerts within Facebook Messenger. "We're not using this information beyond enabling these types of experiences - not for advertising or anything else". Google and Amazon have reportedly also sought similar arrangements, exchanging user data for the banks' integration with the tech companies' massive platforms.
Facebook has been getting cozy with your banks, but that might not be as alarming as it sounds.
Facebook Inc (FB.O) has asked large US 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. In order for Facebook to show users' banking information, Facebook would need to have access to that same data too, which it could then use to improve its ad-targeting algorithms.
A Wall Street Journal report earlier Monday said the talks with banks are ongoing, sending shares up as much as 4 percent.
Wells Fargo declined to address the news.
But Facebook says that it is not actually seeking to collect information, from a data perspective, nor does it want users' shopping history.
When news of the potential partnerships became public, Facebook shares increased by about 3.5% through midday.
Shares of Menlo Park, California-based Facebook ended the day up 4.5 percent at $185.69.
Facebook reportedly wants you to check your bank account on its instant message platform, Messenger.
What that means is that if you're anxious about Facebook having any connection with banks, the WSJ's report should alarm you.
"The Messenger chatbot pilot was created to be a short-term study to learn as much as possible about how conversational banking capabilities can improve our customer experience, and to learn about delivering banking information using AI", Wells Fargo's O'Byrne said in the statement. However, Facebook received good marks for "offering detailed terms of service and end-user agreements that explain how they use consumers' data", Consumer Reports said.
The stiff economic sanctions ratchet up pressure on the Islamic Republic despite statements of deep dismay from European allies. He called on the countries of Europe to join the U.S. , saying, "The time has come to stop talking; the time has come to do".
Security Council, said Friday it was willing to work to save a nuclear agreement that lets Iranian oil flow through the market. However, only 13 planes have been delivered since sanctions on Iran were lifted under the nuclear pact.
Maduro said investigations pointed to financial backers who "live in the United States , in the state of Florida". Oscar Perez and several comrades were later killed in a gun battle after over six months at large.
Meanwhile, an ETNews report has claimed that the price of Galaxy Note 9 will be similar to the previous model, Galaxy Note 8 . The one design change is a reworked fingerprint reader placement, which was panned previous year for being too hard to reach.
His newest tweet is the closest he has come to admitting the meeting's objective was to seek dirt on Clinton from the Russians. President Donald Trump has for the first time acknowledged that a June 9, 2016 meeting at Trump Tower was the latter.
Russian Federation has handed Hollywood movie star Steven Seagal the task of keeping relations cordial with the United States. Seagal was also granted Serbian citizenship in 2016 after several visits to the Balkan country, the BBC reports .
Unlike North Korea, with whom the Trump administration is now eager to negotiate, Iran never produced a nuclear bomb. US officials last week said Iran carried out a similar exercise, though Tehran did not immediately acknowledge it.
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