Advertisers find new target; online banking

Targeted advertising is everywhere on the web, your browsing habits help ad engines decide what content you are most likely to click on. This alone bothers some people, but how would you feel if advertisers were hooked into your bank account using your financial information to show you targeted ads? 

A company by the name of Cardlytics, based out of Atlanta, hope you won't mind them peaking into your financial history a bit. Cardlytics is a "Transaction Marketing System integrates into a financial institution to deliver relevant offers to consumers based on their everyday purchases. "According to NetworkWorld, McDonald's, Macys and Staples are hoping you won't mind either as they have all signed up to participate in Cardlytics program. 

In a white paper by Cardlytics targeted at potential advertiser they said, 

Targeted offers are not just based on past consumer purchasing data. Cardlytics goes a step further, with even greater precision, by allowing advertisers to target based on a consumer's purchases at a competitor's store. Behavioral targeting can be accomplished, by zip code, store name, store category, frequency or purchase amount through a trusted channel - the consumer's bank.

Industry folks think Cardlytics is a great service, the business and innovation magazine Red Herring named Cardlytics among its 2010 Global Awards Winners. Google, Skype, Netscape, Salesforce.com, YouTube and eBay have all been given the same awards in the past.

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19 Comments

Jelly2003 said,
So if I continuously over-draw my account at the the bottle shop, I'll
potentially get cheaper beer?

no you'll get links to a chapter 7 attorney! or financial counseling.

Uhh yea I kind of do mind. I don't want some ****ty advertising agency having access to my private financial info. It's none of their dammed business.

Phantom Phreak said,
How much longer until they can just withdraw money and track my every move without asking?

More like how long before they start putting ads outside around the place you reside in then in your room? I don't mind ads but if it starts to get more personal with things I do everyday, then we have an issue.

Phantom Phreak said,
How much longer until they can just withdraw money and track my every move without asking?

They already have that! The federal reserve bank withdraws .20 cents from your dollar each time you get a dollar.

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The last thing I want to see in my bank or banks websites is ads!
At leas here we customers pay a monthly fee to be able to make third-party bank transfers.

It would be like getting ads in a paid for service elsewhere. And not taking into account the potential privacy issues with leaks, hacks and what not.

To close and personal and besides banks make enough money not to start spamming us, it's like if the BBC were to introduce adverts - just a no no!

I wonder if someone comes up with a list of the companies that are using this service, and keeps it up to date...

As to - see the places where I WON'T buy anything in future.

Banking details are none of advertisers business - the last thing I want them to get their hands to.

I was afraid of this. Where will it stop? Maybe in the future we'll buy a TV which has 5% less screen space because it's constantly spamming us with ads during our shows? Even when you watch a BR or DVD. Or ads will be displayed on your mobile phone? Hell, why not display ads on our wrist watches and in our mirrors when we shave? You know what, let's give them insight to the bank accounts of our relatives, so they can spam us with ads on what to buy for their next birthday!

Don't get me wrong, ads are needed to keep most sites (like Neowin) running. And I'm all for an opt out option which requires me to pay a small amount to get rid of them, but ads according to my financial records. No, just no. I don't mind them looking at my bank account, like I care, but I'm afraid of the exposed risks which might arise from some shady ad company's (lack of) security.

Pam14160 said,
. . .and web sites wonder why people use Ad Blockers.

They don't wonder, they know why i'm sure, they just wish people wouldn't and then call them thieves for stealing their revenue.

So think about this. You go to an atm and request cash. Fast cash! and the machine will ask you want some fries with that? no tooth paste? no shoes? no cigarette? no shoe polish? no flowers? no perfume? no you get the idea? no do you feel depressed? no do you feel itchy somewhere? no Trojan condoms? no a bat to beat me with? yes. Ahha! sales made!

i dont think tracking people's financial transactions is such a great idea. Why should someone know how much money you have spent on one commodity or the other.

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