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Wells Fargo & Co., lagging behind its rivals in mobile-banking prowess, is turning to an unlikely source for advice: the video-game industry.
The lender bought a small stake in Context360 Inc., a startup that makes behavior-predicting technology used by game-makers to retain mobile players. For Wells Fargo, similar technology could help it pitch car loans on Saturday mornings when customers visit dealerships, for example, or block a suspicious credit card transaction, according to Stephen Burke, Context360's chief operating officer.
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Like many industries, banking is seeing more customers migrating to mobile devices. Thirty-five percent of people reported using mobile banking in 2014, up from 20 percent three years earlier, according to a survey conducted by the Federal Reserve and published in March.
"Banking is necessary, banks are not."
(Score: 1) by jummama on Thursday August 06 2015, @07:07PM
From the article, it sounds like they aren't necessarily targeting data from the games, so much as trying to use similar metric tracking technology to generate notifications when it figures that you're at a car lot, or in a situation where you're more likely to notice and read a notification. So it sounds shady, but I don't think they'll be using data from games at all. I could be wrong though.