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(CNN)   Facebook wants to do for online banking what it's already done for online privacy in general   (tech.fortune.cnn.com) divider line 62
    More: Scary, Facebook, online banking, fashion brands, Facebook users, Juicy Couture, walled garden, Anne Fisher, Financial Markets Association  
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8555 clicks; posted to Main » on 12 Jul 2012 at 2:34 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



62 Comments   (+0 »)
   
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2012-07-11 10:57:51 PM  
WTF did I just read? Seriously, is that writer on drugs or what?
 
2012-07-11 11:25:57 PM  
Pay the IRS on Facebook. Sure. That company is desperate to change strategy. The writing must really be on the wall that the advertising model is heading south in a hurry.
 
2012-07-11 11:54:20 PM  
i46.tinypic.com
 
2012-07-11 11:59:25 PM  

BarkingUnicorn: WTF did I just read? Seriously, is that writer on drugs or what?


It's CNN. I think at this point they hire anyone they can find at the bus station to write for them.
 
2012-07-12 12:12:13 AM  
But it's convenient and totally tied to my schedule and friends network. Just sign your check, scan it, and send it over the secure webs. What could go wrong?
 
2012-07-12 12:13:20 AM  
Sure, the core mission of the social media network is to make the world more connected by helping people share their lives.

Sure CNN, whatever you say.
 
2012-07-12 01:18:34 AM  

Triumph: Pay the IRS on Facebook. Sure. That company is desperate to change strategy. The writing must really be on the wall that the advertising model is heading south in a hurry.


Yeah, since their revenue is based on personal information, personal banking information is just another means of monetization.
 
2012-07-12 02:41:30 AM  
Man facebook is really scrapping the bottom of their idea bucket.
 
2012-07-12 02:45:19 AM  
Now people can embarrass you and steal your money when you forget to log out.
 
2012-07-12 02:46:05 AM  
As the interface between the virtual world and everyday reality becomes more and more blurred, it's understandable why Facebook wants to further cement itself as the monopoly-holder over everyone's identity. Fark that, though.
 
2012-07-12 02:46:29 AM  
"Facebook wants to do for online banking what it's already done for online privacy in general "

Make my address and personal information available to deposed Nigerian princes and people trying to sell me dick pills?
 
2012-07-12 02:50:06 AM  
Well, I've read several VCs that think Facebook's price is fine because Facebook is clearly going into a Paypal like banking business.

Seems like a Barnum and Bailey, sucker born every minute pivot to me, but what do I know?
 
2012-07-12 02:51:10 AM  

coco ebert: Triumph: Pay the IRS on Facebook. Sure. That company is desperate to change strategy. The writing must really be on the wall that the advertising model is heading south in a hurry.

Yeah, since their revenue is based on personal information, personal banking information is just another means of monetization.


Fark that. Does that mean instead of online statements you get FB checking timeline status updates like "so and so checked his bank account 15 min ago [like]. [send friend request] [pay child support] ?

/because there isn't enough drama on FB as it is.
//worse....people work for FB thinking this shiat up that I might run into at a grocery store
 
2012-07-12 02:51:44 AM  
i.imgur.com
 
2012-07-12 02:52:09 AM  
Why not photograph the contents of your wallet, put it on the billboards at Times Square, then fling all your cash into the swarm of eight-year-olds in front of the nearest ice cream truck?

Pretty much the same deal, only you could pass it off as a wacky adventure.
 
2012-07-12 02:52:11 AM  
Monica and Chad have just made large purchases on their credit cards. They have earned the "Big Spender" badge.

Click here to join.
 
2012-07-12 02:59:15 AM  
facepalm.com
 
2012-07-12 03:01:19 AM  
Um. not no but HELL NO!!!!!
 
2012-07-12 03:16:07 AM  
"I just paid my estimated quarterly taxes! Click HERE to get your bonus!"

"You have 23 invites to IRSVille!"

(your boyfriend) "John Smith just submitted as 'married filing jointly'!" [like]

Everyone's Facebook account numbers were all redesignated as their Social Security Number. Was that wrong?

//victim of a Facebook clickjacking this week. Despite my being very cynical and paranoid. Obviously NOT PARANOID ENOUGH.
 
2012-07-12 03:22:05 AM  
Wow. That guy REALLY wants the impenetrable island fortress. But if he wants to do it right, he has to attach rockets to Goldman-Sachs headquarters and launch it into space.

/Or at least build an army of robot duplicates.
 
2012-07-12 03:26:20 AM  
Getting a kick--- living in Europe where I can transfer money directly to any account in the world--- online. IBAN, SWIFT, or my neighbor. Paypal barely exists here. No routing numbers. No electronic float time.


American banks: take note.

I have not seen a check in years.
 
2012-07-12 03:28:51 AM  
What could possiblye go wrong?
 
2012-07-12 03:31:47 AM  
So when does Facebook change its name to Skynet?
 
2012-07-12 03:32:28 AM  
Ya, coming from people who's idea of a development cycle is along the lines of oh look, it doesn't appear to be generating errors, lets shiat it out and see what happens.
 
2012-07-12 03:32:57 AM  

tjassen: So when does Facebook change its name to Skynet?


tjassen: So when does Facebook change its name to Skynet?


As soon as John Conner gets out of rehab.
 
2012-07-12 03:36:04 AM  
facebook is a problem that I have, gratefully never had
 
2012-07-12 03:37:49 AM  

OK So Amuse Me: Um. not no but HELL NO!!!!!

 
2012-07-12 03:37:54 AM  
Oh shiat, no.
 
2012-07-12 03:38:50 AM  
this is my impersonation of facebook stock chart, soon.

ready?

here it is: \
 
2012-07-12 03:48:46 AM  
Actually, I'm pretty freakin' tired of finding 'SIGN IN WITH FACEBOOK' on nearly every other website.
 
2012-07-12 04:05:21 AM  
I shall repeat the obvious that everyone else knows. OH HeLL no!!!!

/I like my online banking separate from everything else.
 
2012-07-12 04:29:44 AM  
Its ok, cuz I dont use Facebook.

/werent you waiting for that post? Come on, admit it.
 
2012-07-12 04:42:37 AM  
Chad just bought Monica an engagement ring at Discount Zirconium Engagement Rings Outlet store.

Monica just changed her relationship status from "Engaged" to "Single".
 
2012-07-12 04:44:40 AM  

Gabrielmot: Chad just bought Monica an engagement ring at Discount Zirconium Engagement Rings Outlet store.

Monica just changed her relationship status from "Engaged" to "Single".


Veronica likes this.

/yeah yeah, quote my own thing, thought about that last part after I hit submit.
 
2012-07-12 05:27:13 AM  
Bird Internet
 
2012-07-12 06:00:19 AM  

Rik01: Actually, I'm pretty freakin' tired of finding 'SIGN IN WITH FACEBOOK' on nearly every other website.


Exactly. USA today does this. It's one thing to make it an option for commenting on articles, but it's wrong to make it the only way. So, my opinion doesn't count if I'm not a FB member?
 
2012-07-12 06:00:41 AM  
i.imgur.com

Leonard likes this post.
 
2012-07-12 06:08:57 AM  
And THIS is why I do my banking face-to-face at the local branch!
 
2012-07-12 06:48:14 AM  

20/20: Rik01: Actually, I'm pretty freakin' tired of finding 'SIGN IN WITH FACEBOOK' on nearly every other website.

Exactly. USA today does this. It's one thing to make it an option for commenting on articles, but it's wrong to make it the only way. So, my opinion doesn't count if I'm not a FB member?


I wonder how long until that transfers over to something more serious -- like you have to log in with facebook to pay a bill for a utility.
 
2012-07-12 07:18:53 AM  
An app to quickly send small amounts of money between Facebook friends would be kind of handy.
 
2012-07-12 07:23:17 AM  

20/20: Rik01: Actually, I'm pretty freakin' tired of finding 'SIGN IN WITH FACEBOOK' on nearly every other website.

Exactly. USA today does this. It's one thing to make it an option for commenting on articles, but it's wrong to make it the only way. So, my opinion doesn't count if I'm not a FB member?


It's a cost savings thing. If they go with another commenting solution, they have to either pay a vendor or build it themselves. On top of that you have to pay moderators minimum wage to delete the bullshiat posts.
Facebook figured out a way to give that whole package away for free. Even the mere fact that your comment is tied to your real life identity is enough to keep most people from misbehaving. For the few that do misbehave, facebook has its own moderation staff.
 
2012-07-12 07:40:44 AM  
All those responding to this story with a "AH HELL NO" are reminded by that yoga instructor story that it is Facebook's policy that you not say no to Facebook. They are Borg and you have been assimilated.
 
2012-07-12 07:41:42 AM  

Triumph: Pay the IRS on Facebook. Sure. That company is desperate to change strategy. The writing posting must really be on the its wall that the advertising model is heading south in a hurry.


ftfy
 
2012-07-12 07:50:43 AM  
The moment you hear of any sort of banking interaction is the moment you know a company is no longer desirable and has made every possible effort to cash out.
 
2012-07-12 07:52:46 AM  

fusillade762: What could possiblye go wrong?


Heh. That's the first thing that's ever gone wrong, folks.

/With a dry, cool wit like that, I could be an action hero!
 
2012-07-12 07:54:38 AM  
The reaction from myself when I heard that Facebook wanted to get involved in banking is "Oh hell no!" They don't need a single piece of additional information on me, so they can kindly piss off. If my bank ever has an option to sign into my account with Facebook, I'm changing banks that day.
 
2012-07-12 07:56:23 AM  
Zucker-whatshisname better watch out- PayPud'll have him whacked or the Worthless Herd of Swine bankers will skin him alive.

Nobody gives up a teat that's full without a fight. Should be interesting to watch
 
2012-07-12 07:59:02 AM  
How about no.
 
2012-07-12 08:00:08 AM  

Rik01: Actually, I'm pretty freakin' tired of finding 'SIGN IN WITH FACEBOOK' on nearly every other website.


Amen! I absolutely NEVER do this, but so many sites want to shove it down their user's throats. Either that, or there's some "automatically post to FB" that's checked off by default.

As far as the banking thing, OHN. Though I'll find it amusing when it automatically changes someone's status to 'overdrawn' or sends a notice that "Bill still hasn't filed his taxes. Click here to send a reminder".

Zuckerberg is WAAAAY to full of himself. He had one good idea & now seems to think he's some sort of electronic Messiah. People with that attitude can't perceive their own errors in judgment (since those are impossible). More often than not, they crash & burn eventually.
 
2012-07-12 08:00:16 AM  
Jesus, with all the phishing and drive-bys you can get through Facebook, this is gonna turn into a fiduciary nightmare for a LOT of people.
 
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