Dissapointing linkbait title by the New Scientist aside, the moral here is that companies are using ALL information at their disposal to make the best decision for themselves. Along with your phone’s metadata, your browsing history, location history, health records and more. Already, car insurance companies are offering discounts for OBD-plugs that intimately map your driving habits, on top of the treasure trove of personal habits and information that people regularly leak everywhere on their smartphones and devices.
“The algorithm looks at this metadata to get a sense of a person’s character. Do they promptly return missed calls and pay their phone bills? That suggests they might be more responsible. Are most of their calls made in an area far away from the bank branch? Then it may be hard for the bank to keep tabs on their whereabouts.”