Re:Second Measure (YC S15) analyzes credit card transaction ...
by shostack on Tuesday April 05, 2016 @03:01PM
(#11433330)
I think it was an A16Z podcast that touched on this recently.
Basically the issue is banks have a ton of data and would love to reap the rewards of the data of all the other banks for risk modeling, selling it, and other fun things, but nobody wants to give up their data asset.
Enter a middleman and suddenly all of these companies can provide anonymized data and wipe their hands of it while reaping the rewards of the output.
Something similar happened in the ad space with regards to cookie onboarding services like Liveramp.
Basically the issue is banks have a ton of data and would love to reap the rewards of the data of all the other banks for risk modeling, selling it, and other fun things, but nobody wants to give up their data asset.
Enter a middleman and suddenly all of these companies can provide anonymized data and wipe their hands of it while reaping the rewards of the output.
Something similar happened in the ad space with regards to cookie onboarding services like Liveramp.