Data is the asset. Trust is the currency. Consumers have been sharing data with brands for years, but with greater access to more personal data, financial brands have both an opportunity and a responsibility as to how they use this information.

Hossein Rahnama is CEO of Flybits, one of the world’s top fintech companies. Hossein talked with Andrea Fabbri, Managing Director of BrandingBusiness’s New York office. The two talked about the need for financial institutions to apply context to data to deliver relevant recommendations for consumers and how fintech companies, like Flybits, and banks should work together to learn how to share data in a privacy preserving manner, and come up with new business models in which the end user owns the data, and they share it in exchange for value.