Facebook is asking more banks to join Messenger and bring their users’ financial information along with them.
The Wall Street Journal reported on Monday Facebook was asking banks for users’ financial information, like credit card transactions and checking account balances. The data would be used for Messenger features including account balance updates and fraud alerts, but not for Facebook’s other platforms. The news comes at a sensitive time for Facebook as it battles privacy concerns and adjusts its policy regarding user data.
Facebook does currently have access to financial data from some companies in order to facilitate services like customer service chats and account management. Users give Facebook permission to access their information, the company added.
“Account linking enables people to receive real-time updates in Facebook Messenger where people can keep track of their transaction data like account balances, receipts, and shipping updates,” the statement said. “The idea is that messaging with a bank can be better than waiting on hold over the phone – and it’s completely opt-in. We’re not using this information beyond enabling these types of experiences – not for advertising or anything else. A critical part of these partnerships is keeping people’s information safe and secure.”