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Comment by cs702 | Hacker News Reader

When large corporations like banks say they want "access to social media," what they mean is they would love to get their hands on something like this:

https://en.wikipedia.org/wiki/Social_Credit_System

...but they want it to be controlled by large corporations instead of a government.

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Indeed I’d be surprised something like this doesn’t already exist. This article almost reads like a press release for the product that has been developed. What it needs is an air of legitimacy, hence the appeal to a public-private partnership.

Like LinkedIn, when you create a new bank account and plan to deposit funds it's often checked.

I immediately thought that they'd also start selling the newly acquired data in some form, since nowadays it seems that everybody wants to be in the spying business. My bank has recently started asking, from time to time, in the banking app for me to grant permission for collecting additional data. Thanks god for GDPR... IMO, banks should not overcomplicate things and should keep things simple for users.

That link basically say a unified Social Credit system doesn't actually exist as imagined and the heavily covered Zhima Credit system basically just didn't even work.

Though I'm sure there's no shortage of AI snake-oil vendors who promise banks the world over that they can do it but it "just needs more data to train on, 6 months tops, trust me bro".

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