Banks are starting to track customersrsquo cell phone, Ask an Expert

Management Studies

Banks are starting to track customers’ cell phone locations to combat credit-card fraud. Tracking users’ phones can help banks determine that the transaction is actually being made at the user’s location. While customers have an opt-in option for this tracking, in the future banks might make tracking part of the terms of service for banking apps.

Some banks are saying that the information will only be used for fraud detection purposes. However, does this behavior infringe upon customers’ privacy? Will banks eventually use this information to earn additional revenue by selling it to companies?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93078120

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