For representational purposes (File | Reuters) 
Business

Facebook seeking information from US banks for financial services: Report

The social networking giant has reportedly talked to several banks including JP Morgan Chase, Citigroup, Wells Fargo and US Bancorp about the services it could provide.

From our online archive

SAN FRANCISCO: To offer new "financial services" via its messaging app Messenger, Facebook is seeking customer data from some US-based banks regarding their card transactions, shopping habits and account balances, The Wall Street Journal reported on Monday.

The social networking giant has reportedly talked to several banks including JP Morgan Chase, Citigroup, Wells Fargo and US Bancorp about the services it could provide.

In an emailed response to the report, Facebook denies that it is "actively asking financial services companies for financial transaction data", according to a report in The Verge.

Facebook is "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," the report added.

Facebook already allows users to integrate their American Express, Mastercard, and PayPal accounts with Messenger for online transactions.

The Mark Zuckerberg-led company is still recovering from its recent data privacy scandal, where Cambridge Analytica misused the data of 87 million Facebook users.

Other tech companies like Google and Amazon are also reportedly asking banks to share customer data so that they can add banking services to their voice assistants.

Hindu man stabbed, set on fire in Bangladesh, escapes by jumping into pond; fourth attack in two weeks

Did candle held close to wooden ceiling spark blaze? Swiss ski resort town reels as 40 feared dead, 115 injured

RBI says economy resilient, banks stronger but warns of rising risks from unsecured loans, stablecoins

Four arrested at Indo-Nepal border in Bihar for illegal entry, fake currency recovered

Drop in terror attacks in Pakistan since Afghan border closure, 2025 most violent in decade

SCROLL FOR NEXT