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Content type: Examples
After four years of negotiation, in 2017 Google began paying Mastercard millions of dollars for access to the latter's piles of transaction data as part of its "Stores Sales Measurement" service. Google, which claimed to have access to 70% of US credit and debit cards through partners, said that double-blind encryption prevents both partners from seeing the other's users' personally identifiable information. Mastercard said the company shares transaction trends with merchants and their service…
Content type: Report
Financial services are changing, with technology being a key driver. It is affecting the nature of financial services, from credit and lending through to insurance, and even the future of money itself.
The field of fintech is where the attention and investment is flowing. Within it, new sources of data are being used by existing institutions and new entrants. They are using new forms of data analysis.
These changes are significant to this sector and the lives of people it serves. This…
Content type: News & Analysis
http://www.spiegel.de/international/world/how-the-nsa-spies-on-international-bank-transactions-a-922430.html*Update: The European Parliament has voted to recommend suspension of its Terrorist Finance Tracking Program (TFTP) agreement with the US. The vote in favour of suspension only highlights how the NSA’s reported activities have undermined the agreement. Negotiations should immediately commence to strengthen the privacy and redress provisions, to ensure that governments…
Content type: News & Analysis
Dear Mr Schrank,
I am writing with regard to the current controversy over the private arrangement between SWIFT and the U.S. Government that facilitates the extradition of confidential financial transaction data from SWIFT to U.S. authorities. You will be aware that Privacy International contends that this arrangement breaches privacy and data protection law, and we have lodged complaints with regulatory authorities in 38 countries.
In my many discussions with SWIFT officials over the past…