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Agree and that's why I have made a page: https://lit.money/dataandsecurity.html https://lit.money/dataandsecurity.html Technically it's just a data-keeping plat
by mhrnik 2y ago
Agree and that's why I have made a page: https://lit.money/dataandsecurity.html https://lit.money/dataandsecurity.html
Technically it's just a data-keeping platform.
And for security, I don't ask or share any sensitive data!
But thanks for your feedback, I am adding your suggested points to the landing page and highlighting them! In the future, I will invest in licensing.
- elmerfud 2y agoFinancial data, is sensitive data, especially when linked with anything that could be identifying, even an email address. This is why being some sort of CPA or licensed financial advisor would be very important to build trust. This clause in your terms, while it's boiler plate, also doesn't build any more trust than say a Charles Schwab or other big financial planning firm. "We reserve the right to modify or replace these Terms at any time. We will notify you of any changes by posting the updated Terms on our website. Your continued use of lit.money after any modifications constitutes your acceptance of the updated Terms." Because your terms don't specify any thing about data retention, deletion or selling. It's just a blurb on your site. Even if the terms did, you can changed them unilaterally and simply by me logging in to decline and delete my data I've now agreed to whatever new ones are there. I think if you want to stand out in this space you'll need to have some sort of licensed financial entity backing you and come out with a meaningfully different terms of service and contract with the people you're serving.