6 ms·

> > Visa marketing I guess this is one of the things that just has to be forbidden by law.

deleted 5y ago
[deleted]
beforeolives 5y ago
In the UK there are data science groups at banks that target specifically extremely wealthy customers based on their transactions and balances. I think that they only focus on wealthy customers right now because they haven't scaled up properly but the plan is to eventually expand to everyone.
- bingojess 5y ago
  This has happened since banks started selling investment products, wealth managers simply pull up a list of cash heavy accounts who haven't opted out of marketing where they can push investment products. Think is biz model private bankers and 'Wealth Management' arms at banks are built upon
  - walshemj 5y ago
    High street banks in the UK don't really have products for HNW its normally high charging OIECs that are not good value. Ok Nat west has Coutts but not just any euro trash millionaire can get an account there
lima 5y ago
In Germany (and probably all of Europe), it is forbidden by law.
- MaxBarraclough 5y ago
  I get the impression it's not forbidden in the UK. Here's the equivalent page from MasterCard. [0] (Incidentally, the captcha is broken so the page is unusable.) [0] https://www.mastercard.co.uk/en-gb/vision/terms-of-use/commitment-to-privacy/privacy/data-analytics-opt-out.html https://www.mastercard.co.uk/en-gb/vision/terms-of-use/commi...
  - ShockedUnicorn 5y ago
    The captcha has been broken for months. I don't think it's an accident.
  - guitarbill 5y ago
    > To opt-out from our anonymisation of your personal information to perform data analyses The page is super vague, and the question remains if they can fully anonymise the data, but if they can, it's allowed. Personal data is covered under the GDPR, while anonymous data isn't [0]. [0] https://ico.org.uk/for-organisations/guide-to-data-protection/guide-to-the-general-data-protection-regulation-gdpr/key-definitions/what-is-personal-data/#1 https://ico.org.uk/for-organisations/guide-to-data-protectio...

deleted 5y ago

[deleted]

In the UK there are data science groups at banks that target specifically extremely wealthy customers based on their transactions and balances. I think that they only focus on wealthy customers right now because they haven't scaled up properly but the plan is to eventually expand to everyone.

bingojess 5y ago
This has happened since banks started selling investment products, wealth managers simply pull up a list of cash heavy accounts who haven't opted out of marketing where they can push investment products. Think is biz model private bankers and 'Wealth Management' arms at banks are built upon
- walshemj 5y ago
  High street banks in the UK don't really have products for HNW its normally high charging OIECs that are not good value. Ok Nat west has Coutts but not just any euro trash millionaire can get an account there

lima 5y ago

In Germany (and probably all of Europe), it is forbidden by law.

MaxBarraclough 5y ago
I get the impression it's not forbidden in the UK. Here's the equivalent page from MasterCard. [0] (Incidentally, the captcha is broken so the page is unusable.) [0] https://www.mastercard.co.uk/en-gb/vision/terms-of-use/commitment-to-privacy/privacy/data-analytics-opt-out.html https://www.mastercard.co.uk/en-gb/vision/terms-of-use/commi...
- ShockedUnicorn 5y ago
  The captcha has been broken for months. I don't think it's an accident.
- guitarbill 5y ago
  > To opt-out from our anonymisation of your personal information to perform data analyses The page is super vague, and the question remains if they can fully anonymise the data, but if they can, it's allowed. Personal data is covered under the GDPR, while anonymous data isn't [0]. [0] https://ico.org.uk/for-organisations/guide-to-data-protection/guide-to-the-general-data-protection-regulation-gdpr/key-definitions/what-is-personal-data/#1 https://ico.org.uk/for-organisations/guide-to-data-protectio...