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Financial institutions, including credit card companies, banks, and payment processors, possess a vast amount of customer data. They are increasingly looking to capitalize on this information. Companies such as PayPal, Chase US, and Revolut are forging partnerships with advertisers to launch “transaction-enabled” marketing initiatives.
At the same time, customers are growing more privacy-aware. Consumers in the UK can inquire whether financial firms are using and storing their personal data and can request copies of that information under the Data Protection Act.
What are your thoughts on financial companies profiting from your sensitive information? Have you ever requested access from your bank or another financial organization regarding how your data is utilized? Have you faced any challenges related to the use of your information or disputes with a company?
FT Money is interested in hearing about your experiences. Please reach out to us confidentially at akila.quinio@ft.com