Your financial data is important
Your financial data is important and valuable. Your information should belong to you and enable you to achieve better financial wellbeing.11 August 2020 • 2 min read
Ever eyed that particular electronic item on your favourite e-commerce store? Perhaps you've heard all the rage about Animal Crossing and decided to pick up a Nintendo Switch to play it.
You place the Switch in the shopping cart but you don't check out yet. You're not absolutely certain about the purchase. You leave it alone while you proceed to do other things.
Suddenly you notice Nintendo Switch ads showing up on other websites. You scroll your Instagram feed only to see other gaming peripherals recommended to you. That is your data at work.
Our computers and mobile phones run on data. Data is everywhere and is how we make sense of our world. Data itself is just a representation of information. How that data is used is an entirely different story.
In the anecdote above, data is being stored that shows your interest in a Nintendo Switch. With this data about you, ad networks that run invisibly on all your favourite sites and apps are incentivized to show you gaming-related products or services in hopes that you'll make a purchase.
However, we at Finantier believe that data can be used for good.
Your data is precious. In fact, data is the new currency. It is also be the most valuable thing in the world that belongs to you. For something so precious, wouldn't you want to make sure that only you own it? When it comes to data, there is nothing more important than your financial data.
Currently, your financial data is likely found across your mobile wallet, your bank, insurance and investment platforms. Each of them holds a slice of your finances. Your data is held tightly by these companies, who make it hard even for you to get it.
While it is data about your own financial health, you can't physically take it with you. You have no idea if you might be eligible for a loan at another bank even as your current bank has rejected your loan application.
You could be overpaying for your insurance when there are cheaper options available. Perhaps your investments could benefit from a higher interest rate at another insurance platform?
Your financial data is the first step towards a better financial wellbeing for yourself and your family.
Talk to your financial company today and ask them if they are using Finantier, so that only you own your data.