Facebook asks big banks to share customer details

Facebook has asked major US banks to share customer data to allow it to develop new services on the social network’s Messenger texting platform.
Facebook had discussions with Chase, JPMorgan, Citibank, and Wells Fargo several months ago.
The Silicon Valley-based social network also contacted US Bancorp, according to the Wall Street Journal, which first reported the news.
Facebook, which has faced intense criticism for sharing user data with many app developers, was interested in information including bank card transactions, checking account balances, and where purchases were made, according to the source.
Facebook confirmed the effort in a statement, but said it was not asking 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.
Citigroup declined to comment regarding any possible discussions with Facebook about Messenger.
“While we regularly have conversations about potential partnerships, safeguarding the security and privacy of our customers’ data and providing customer choice are paramount in everything we do,”.
Wells Fargo decline to address the news.