Sponsored By
The Daily Brief

Tech Giant Signals Increasing Interest in BankingTech Giant Signals Increasing Interest in Banking

Facebook is exploring integrating banking data within its Messenger app.

Samuel Steinberger, Senior Technology Editor

August 6, 2018

1 Min Read
Facebook app
Copyright Carl Court, Getty Images

Facebook’s push to boost engagement has resulted in the company exploring an integration of banking data with the company’s Messenger app, according to Engadget. The app currently incorporates PayPal services.

In a scenario the wealth management industry has speculated about, the tech giant has been looking for bank partnerships to obtain data on card transactions and checking account balances, according to the report. Though the company’s recent privacy scandals are making financial institutions a little more wary about partnerships. JPMorgan said it would limit the transaction data it would potentially share.

Amazon and Google parent Alphabet have also discussed obtaining banking information.

Want The Daily Brief delivered directly to your inbox? Sign up for WealthManagement.com’s Morning Memo newsletter.

About the Author

Samuel Steinberger

Senior Technology Editor, WealthManagement.com

Samuel Steinberger is Senior Technology Editor for Informa Connect’s WealthManagement.com. In his role, Mr. Steinberger provides the publication’s wealth and financial technology coverage. 

Mr. Steinberger’s editorial insight and familiarity with technology accelerates Informa’s growth within the financial advisor and wealth management communities, providing in-depth news for advisors and financial professionals. 

Before joining Informa Connect, Mr. Steinberger produced documentaries with former CNN anchor Soledad O’Brien at Soledad O’Brien Productions (formerly Starfish Media Group). He specialized in research, shooting and editing, as well as finding distinct voices to explain topics like mental health, poverty and racial divide. 

Prior to joining Soledad O’Brien Productions, Mr. Steinberger managed multi-departmental technology projects for global legal technology leader Transperfect Legal Solutions. After obtaining his graduate degree in journalism from Columbia University, he completed his transition from technology management to media. 

Mr. Steinberger is an award-winning journalist, author and researcher who has written, edited and reported for a number of publications, including The New York Times, Financial PlanningAmerican Banker and PBS. He is founder of beverages publication Give Me Weird Drinks

Mr. Steinberger’s technology analysis and insight has been featured in several books on virtual and augmented reality. Mr. Steinberger has received awards and recognition for his reporting and research, including the American Business Media's prestigious Jesse H. Neal Award for editorial excellence.

Follow on Twitter: @slsteinberger