People.io, Digi.me and CitizenMe are all looking to reward consumers for trading their personal information (e.g. bank transaction data). Would you entrust any one company with your private information for a couple of bucks?
Mr Oliver said he was in talks with a large high street bank and a multinational consumer goods company which were keen to examine how they can sift through the reams of raw data they hold to be able to offer more tailored services for their customers. Banks, in particular, would be able to see if someone has just spent money recently at an auto-repair shop, and send them information about a loan for a new car. Many of the high street banks and their online rivals are currently combing through data to find new ways of engaging with their customers, said Matthew Herbert, director of strategy and digital at the British Bankers’ Association.