With growing concern by consumers about how their data is used, American Banker reports on a new app designed to provide privacy to financial transactions. Called Privacy.com, the app aims to be the banking sector’s “none-of-your-business” app, the report states. So far, the start-up has raised $1.2 million from investors, including former White House Deputy Chief of Staff Jim Messina. “Everything you do online can be tracked and more than likely will be tracked,” said Privacy.com Chief Executive Boling Jiang, adding, “This is kind of a reset in the default state of humanity. Everything we do offline, as long as it’s not recorded, is fleeting … whereas everything you do online is by default tracked and will be used.”
Full Story