A policy that Facebook's 'Messenger' application will be able to acquire user's bank account balance information turned out

By Christoph Scholz

In the future, it turned out that Facebook is a policy to extend the function of "Messenger" application so that you can check the bank account balance information etc in real time. Following this report Facebook's stock price has been favorably received from the market, such as showing a 4% rise, but concerns about privacy are also expanding at the user level.

Facebook to Banks: Give Us Your Data, We'll Give You Our Users - WSJ
https://www.wsj.com/articles/facebook-to-banks-give-us-your-data-well-give-you-our-users-1533564049

The facebook stock rises, expectation for strengthening relations with the bank rises - Bloomberg
https://www.bloomberg.co.jp/news/articles/2018-08-06/PD1W3U6S972A01

On August 6, 2018, Facebook announced a policy to link transactions with bank accounts as a new feature of "Messenger" application so that transaction data such as account balance, receipt, delivery information can be grasped in real time. About the aim of this effort Facebook says, "We do not use it for purposes other than enabling the user experience with those information, there is no advertisement or any other purpose."

Facebook has already been in talks with major American banks, Wall Street Journal reports. This move is not limited to Facebook, and Google and Amazon have started similar activities like "Google Home" and "Amazon Alexa" respectively. In addition, some banks have already taken actions with IT companies already, and more than 30 banks use smartphone applications such as providing real-time remittance service against PayPal by partnering with remittance application "Zelle" The competition of online payment services that we did is showing signs of intensification.

It can be said that this announcement of Facebook announced that it will enter this competition. The reaction from the market is listed, Facebook's stock price has risen by 4% at a time and it regains some stock price plunge on July 25.

Facebook experienced a plunge in stock prices that lose market capitalization of more than 13 trillion yen, the largest in American history as a decrease in one day - GIGAZINE

According to Facebook announcement, this function is "opt-in method" which users need to approve use. In addition, it is only for users to be able to confirm their account information with the messenger application, and it is said that it will not be used as a tool for other advertisements etc.

Users' convenience got better and investors also accepted favorably, but also from the past events concerning privacy, there is also a view that concerns about privacy are similarly concerned about 'cooperation between Facebook and banks' It is a fact.

Forbes posts an exciting title article saying "I will definitely get out of Facebook before accessing bank account data"

Quit Facebook Before It Inevitably Accesses Your Banking Data
https://www.forbes.com/sites/curtissilver/2018/08/06/quit-facebook-before-it-inevitably-accesses-your-banking-data/

Publish the article with the title "Facebook and the bank cooperate: if the user gives me financial data, we will enable bank transactions on Facebook" along with images with a strong collage on the face of Zuckerberg There are also some media.

Facebook to banks: give us our users' financial data and we'll let them bank with Facebook / Boing Boing
https://boingboing.net/2018/08/06/surveillance-finance-capitalis.html

It is a policy of tie-up with this bank that it can be said that it is one of the natural trends for Facebook, whose growth as corporate mission is a mission, but it is necessary to pay close attention whether users' privacy is not lost There seems to be.