Have you ever noticed how much data your bank really collects about you? It is not only the obvious details – your income, address, and source of wealth. Banks often combine information from many different sources. Social media traces, online behaviour, and even location data. All of this creates a profile. A box where you are placed. Labels such as “high risk”, “creditworthy”, or “valuable client”.
But what about data protection? Is it truly about protecting us – or has it become nothing more than an annoying pop-up on every website that we all try to click away as fast as possible?
Banks explain that they need this data for security, compliance, and better services. Fair points. Yet where is the line between “necessary” and “intrusive”? Between protecting customers and scanning every move?
The uncomfortable truth: algorithms often know us better than we know ourselves. When an online shop predicts your next purchase, it can feel funny or convenient. But with banks, it becomes a serious issue. Here, data not only determines what advertisements you see. It decides whether you qualify for a loan. Whether you are considered trustworthy. Whether you are offered opportunities or blocked from them.
So, a question for all of us: do we really want our bank to categorise us based on hidden data patterns we never agreed to share? And if our daily “data protection” is reduced to one quick click on “Accept”, is it really protecting us at all? 🤔
Maybe it is time to give “data protection” back its real meaning. Not just a pop-up. But a principle.
Source: LinkedIn
