Barclays has told its 13 millions of UK customers that it will start selling its aggregated and anonymized data on its checking and savings account holders to other companies trying to understand customer purchasing trends, effective from October 2013.
However, the bank assured customers that any data it passed on to third-party companies would be aggregated to show trends, and that individuals would not be identifiable from it.
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The bank outlined that it will hold information such as images and voice recordings of its clients.
The bank also informed customers that it will start tracking their mobile phone in October 2013 in order to detect possibly fraudulent charges made in other countries.
Barclays collects and aggregates data for its own Bespoke Offers program that analyzes customer data to find relevant coupons to major retailers.
The bank reported that it will share the data with government departments and MPs.
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By GlobalData
