Australian Banking Into Social Media Space

The Aussie banking institutions are aiming at the social media space to increase popularity and proximity to their customers. One thing that is still slowing them down from gaining larger online presence is the concern that such financial data may be used for fraud. “There’s definitely some fear about integrating data on social media platforms. Banks are concerned how that data might be used: will they then own that data, will it be manipulated, will there be identity fraud,” commented Charis Palmer, the editor of the Online Banking Review. An…

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