This is your friendly Facebook, looking to get into your wallet:
WTF!??!
Surely this is just not a possibility. It breaches all kinds of privacyā¦
Sorry, but itās a factā¦ And what does FB care? "Hey, itās not our privacy weāre intruding on, itās just our usersā¦ "
This is an exact quote from the pages of the Wall Street Journal:
According to a report in the Wall Street Journal, Facebook has spent the last year asking banks like JPMorgan Chase JPM +0%, Wells Fargo WFC +0.34%, Citigroup C +0.16% and U.S. Bancorp for partnerships that would result in Messenger enhancements that unlike 360 degree video would be 360 degrees of your checkbook instead. But hey, maybe you could get fraud alerts in Messenger instead of your banking app. That seems better right?
Corroborative link follows:
Same link as above.
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This WSJ report is a load of old cobblers, more holes in it than my socks! Facebook seeks partnerships with banks, as do Google, Paypal etc. Facebook does not need or want your financial info, only your business in Messenger for contacting the bank rather than phoning, (and holding, and āplease dial 1ā etc). It has already started this in Singapore and by the way, the banks are contacting social media for partnerships as well so it is a 2 way street. Facebook has already been forced to make a statement about the WSJ story, which they deny emphatically regarding getting personal financial info or even generic spending patterns, Cheers
Definitely will be looking at this furtherā¦
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Not that I trust Facebook or the banks the article does start with
Writing on Consumer Tech & Social Media with a satirical, cynical edge
so I would take it with a grain of salt, but that said Facebook is a blood sucking vampire of an organisation and i advise everyone to leave it. I personally canāt stand the stupid āfactsā, bullshit and fake news.
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I donāt trust none ofāem thatās why the only āsocialā things I do on the internet thingy is a couple of forums!!
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Yeah Iām with you DB
Not likely to happen in Australia in a hurry, banks have a fairly strict criteria on the privacy of customer data, some of which is mandated by APRA rather then internally. Itās not worth their banking licenses to breach it for the sake of a few bucks.
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Actuallyā¦ And seriously, f*k that guy, @no1mk3 is almost correct, but more correct than other responses. Iāll come home, turn some mood music on (Insane Clown Posse, if anyone was wondering) and put this to restā¦ Basically, youāre all wrong, but @no1mk3is the least amount of wrong. The answer is much more open simpler than that.
I found the article very biased, alarmist and emotional. This is a recepie for false and misleading information, which is, I suppose, the point when you consider how itās written. It lacks evidence of any kind. And I suspect due to lack of understanding and technical know-how or simple awareness of this technology does not actually offer any context, which is very important here.
I am not surprised that FB is in discussion with financial institutions, but they are not the first.
Please read this first:
Banks now integrate with Alexa (Amazon). And this is just the start. Open Banking API is coming (@Brett , yes, regulator will approve it, in fact it will if not already is a regulatory requirement to allow third party integrations). And dare I say itās a good thing. It allows smaller companies to create and profit from financial applications, just like banks do. It lets you, the consumer have a choise between applications that you chose to use to conduct your business or manage your money.
There are a number of these applications already, that integrate with your bank account and let you manage your funds better. Setup savings and budgeting alerts, etc. This is not new and we are not even at the tip of this iceberg. These applications have full access, much worse than whatās being worked on now.
Please understand that this is done with your explicit concent. Any argument to the country is pure paranoid delusion and lack of in-depth understanding of these platforms. Little out of scope for this post, but happy to explain how and why, as well.
As for FB, so what? Itās an organisation you love to hate, but emotion aside, Iād trust them with their mammoth investment in IT security, before Iād trust a small company trying to break through. Again, remember, huge security budget, huge and deep IT skillset and your explicit concent. I say go for it. Iād love to pay people faster via messenger, for example, than my existing online banking application or at least one of them. Iād love to be able to pick, not only what account, but what bank of like to use and Iād like it all integrated and at my fingertipsā¦
Hope thatās enough.
As long as it is an explicit āopt inā concent process, then fine. If it is the same āwe can do what we like with any data as long as you are a memberā concent then i may be deleting myself from FB for the third time.
I only rejoined a few years ago to use it as a business tool for reputation management but truth is Iām useless at social media promotion and just got sucked in to staring at crap all the time!
Well, itās a little more explicit then ātick this boxā, mate. And itās not so much FB that has access, itās your bank granting the right level of what should be very granular access, backed up by lots of monitoring and behavioral analysis.
If this style of system is implimented without a two way request for data sharing, i wonāt be playing. Hiding it in Ts&Cs might technically be explicit concent but if the only concent is answering yes/no to Ts&Cs, Iāll be deleting FB.
Convenience is one thing but i have issues with online data collection and itās use. Not necessarily on a ātheyāre coming to get usā point of view but just a basic principle of maintaining some iota privacy and anonymity.
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I donāt think you actually mean what you said, that would be horrible. 
And by all means, delete away, nobody is stopping you.
You can choose to connect an app to a bank account, but itās the bank that must allow this content to be accessed (and you, by providing credentials), never the app (this would be two way and very very bad).
As for this:
Convenience is one thing but i have issues with online data collection and itās use. Not necessarily on a ātheyāre coming to get usā point of view but just a basic principle of maintaining some iota privacy and anonymity.
Let me blow your mind here, how I would track your real identity from this forum, as a normal user, will PM 