UK Banks and institutions
On my buisiness accounts through a competitor of yours we get automatic feeds from our banks and was looking to contibue to use our moneydance softwarer for our personel account you do not appear to have any UK banks or finanacial instituitions on your list - Our other software uses the Yodlee interchanges and it woudl be good if you adviuse whterh you intend to add any Uk insitituions at all in the future. If not then I am sorry to say that there are better products out there to use than Money day which is a pity as I was getting to like it
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1 Posted by Ben Spencer on 13 Dec, 2015 05:18 PM
Hi Elaine
We have considered using Yodlee or similar services in order to offer connections to banks that do not provide direct connections and at this time we do not think it is the right path to take. The major problem that Yodlee and any other such services have is that you have to give your bank login user name and password to a 3rd party service. Yodlee has to store those login credentials on their server as they have to periodically use them to log into your bank to download data. I am sure that Yodlee goes to great lengths to protect those credentials and the consequences of Yodlee being hacked are absolutely catastrophic. Just a couple of weeks ago the major credit card company Chase made a statement that effectively said if unauthorized transactions occur on your account as a result of giving your username and password to a 3rd party they will take no responsibility. This is not a risk that we want to encourage our customers to take.
Ben Spencer
Infinite Kind Support
System closed this discussion on 19 Mar, 2016 05:02 AM.