From The Verge: Facebook is asking large banks in the US to share their customers’ card transactions, shopping habits, and checking account balances to offer new financial services, as reported by The Wall Street Journal.
In an emailed response to the report, Facebook denies that it’s “actively asking financial services companies for financial transaction data.” It says that it’s simply looking to partner with banks and credit card companies to offer customer service through a chatbot in Messenger or help users manage their accounts within the app. Similar features already exist on Messenger with American Express, Mastercard, and PayPal integrations, but Facebook is looking to expand its partnerships with more traditional banks.
It’s part of Facebook’s bid to expand its Messenger app from chatting services to more core uses that would keep users on its platform longer. The new initiative comes after Facebook reported a quarter with its slowest growth since 2011.
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