Morgan Chase bank sell information about their clients to afford expensive media platform

A lot of banks have realized that the information they store about their customer's financial transactions is quite valuable. A lot of marketers and advertisers would pay big bucks to get hold of this information.

JPMorgan Chase is just first of what is soon to be many banks trying out new strategies to profit. As more and more transactions are happening digitally all the more  information can be harvested about the public's buying habits.

Just consider the magnitude of Facebook's advertisements. They base every single ad on the information you put into your account, from likes and groups to personal messages and images you provide. It's information about you that is the main source of their income, translated into likelihood of you purchasing a specific product they show you ads of what they think you would be likely to purchase.

Imagine getting information about where you buy things, when you buy certain things, and how you buy them. This would allow for not only targeted ads, but ads based on when you're deemed most likely to make a certain purchase.

The only information more valuable on the dark web than your transactions and purchase history is your medical records, according to Hacker News article.