Revolut has been advertising provocative ads across London claiming to know what users are spending money on; the ads refer to users buying a single meal on Valentine’s Day or buying a popular vegan sausage; the FT reached out to Revolut and found that the ads were spoofs, though there was no fine print explains so; the takeaway is the financial firms do know a lot about us through the data they collect; ensuring that data is safe is something that fintechs and banks need to do, especially in the digital age when the next big hack seems right around the corner. Source.
