The Intersection of Data, Facebook and Financial Services

The WSJ has published a piece which details Facebook’s talks with financial firms over time; many of these conversations took place prior to scrutinization of how the company handles data; the company held talks with American Express in 2016 about the possibility of using cardholder data for ad targeting as well as a possible AmEx chatbot; Facebook also held talks with Bank of America, and launched a pilot chatbot with Wells Fargo in 2017; PayPal, which allows users to send money over Facebook messenger negotiated a contract which prevents Facebook from using customer data for advertising. Source