Dutch banks told to stop using payments data for personalised marketing

guest · Jul 10, 2019

Dutch banks told to stop using payments data for personalised marketing
July 9, 2019
https://www.finextra.com/newsarticl...sing-payments-data-for-personalised-marketing

Last month ING said that it planned to start using transaction data to send its customers more relevant email and text message offers.
The plan drew complaints from privacy advocates, prompting the Dutch Data Protection Authority to write to the Dutch Banking Authority making it clear that banks are "not allowed" to simply send their customers personalised offers based on payment details.

Says the authority's board member Katja Mur: "Payment data gives a complete picture of someone's life: what do you spend your money on, which associations do you belong to, who do you associate with, which patterns are visible? [...]"

While ING prompted the letter, the authority says other banks are carrying out similar activities. Newspaper de Volkskrant has identified ABN Amro, Rabobank and De Volksbank as potential culprits.
ABN Amro has since acknowledged its use of payments data and has stopped the practice temporarily ahead of a meeting with the data protection agency [...]
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