‘Hi, your bank here. Need cheap suncream?’ Welcome to the future of mobile apps

Banks want to become a 'lifestyle partner' but consumers are warned to be wary of sharing their data

You walk past your favourite clothing retailer. You've not bought anything for a while, so your mobile phone flashes offering you a discount on the type of things you usually buy.

You receive an alert from your bank saying your water bill has shot up and you should check for a leak. Another arrives saying you are paying 20% more for broadband than your neighbours. But don't worry - your bank has already switched your provider.

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