Banking Industry Responds to Facebook Data Proposal

The Wall Street Journal and Washington Post both reported this week that Facebook had proposed data-sharing partnerships with banks and credit card companies that would allow users to access their personal account information from within the social network’s messaging service, Facebook Messenger. The social media juggernaut made this offer as an alternative to speaking with customer service representatives or automated chatbots on the companies’ banking or credit sites.

The industry so far has been hesitant to embrace the proposed integrations, primarily out of concern for the security of their customers’ sensitive information – especially in light of this year’s episode involving Cambridge Analytica, which was improperly allowed access the data of 87 million people.

For complete coverage on the story: WSJ | Washington Post

Lowering Costs of Financial Data Subscriptions

At Kreller Consulting, we help our clients in the financial industry save millions each year by cutting the costs associated with consumer credit data vendor services: including: Dun and Bradstreet, Equifax, Experian, Lexis Nexis, TransUnion, and many more.

We do not change or jeopardize your current relationship, and our compensation is 100% contingent on our ability to identify a substantial savings.

If you would like further details about how we can help you reduce the annual cost for financial data providers, contact Chris Harsh directly: | 513.723.8904.

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