3 ms·
The response in no way addresses why Yodlee is so amazingly duplicitous. Look at how Yodlee collects the data: Yodlee begins collecting transaction data fr
by x0x0 10y ago
The response in no way addresses why Yodlee is so amazingly duplicitous.
Look at how Yodlee collects the data:
Yodlee begins collecting transaction data from bank customers after they
sign up to use online tools powered by Yodlee.
Some information also goes to Yodlee through a practice called “screen
scraping.” If a person uses a budgeting app created by Yodlee and gives the
app permission to access their bank accounts using their username and
password, Yodlee can capture the transaction history in those accounts.
How much do you want to bet the vast majority of those customers have (1) no idea Yodlee is doing this, (2) were informed in only the most oblique way hidden in pages of legal text, and (3) would not be enthused about this if they knew.
- shostack 10y agoPresumably people who want their budgeting app know it needs this data to do the job. I'm a user of their Money Center product and it is a great way to see my finances at my finger tips and has way better reporting than Mint who also presumably does similar things and pushes a ton of affiliate offers.
- x0x0 10y agoRight, showing a budget obviously can't be accomplished without reselling the data to hedge funds, etc.