Yodlee

Rachel's Avatar

Rachel

29 Sep, 2015 10:51 PM

Hello
I really like the Moneydance software - however - manually importing my bank statements is too much work and is never straight forward. Does Moneydance connect with Yodlee? I understand that Yodlee can act as a third party intermediary between banks and financial software (for example Xero use Yodlee).
Many thanks

Rachel

  1. 1 Posted by Ben Spencer on 29 Sep, 2015 10:58 PM

    Ben Spencer's Avatar

    We have been in conversation a couple of times over the last few years with Yodlee but are at this point not pursuing integration with their service. Doing so would require a change in the way users pay for Moneydance as Yodlee charges an ongoing fee per user. We may go do this route in the future but we currently do not have plans to do so.

    Ben Spencer
    Infinite Kind Support

  2. 2 Posted by Ben Spencer on 29 Sep, 2015 11:09 PM

    Ben Spencer's Avatar

    I would add that using a service such as Yodlee or Intuits similar WebConnect requires entrusting a 3rd party service with the credentials you use to log into to your bank. Out of necessity such a service needs to store those credentials unencrypted or hashed in order to be able to use them. I am sure Yodlee goes to great lengths to protect their data but no system is secure. I can hardly imagine the just how incredibly bad it would be if Yodlee or Intuit WebConnect got hacked.

    Ben Spencer
    Infinite Kind Support

  3. 3 Posted by Jeff Stephenson on 21 Dec, 2015 10:49 PM

    Jeff Stephenson's Avatar

    Ben - WebConnect will be essential if you plan on acquiring all the customers from Quicken Premier that are fleeing after the announcement that Quicken is for sale. I am certain you can have a contract with Yodlee whereby they will charge you a monthly fee based solely on accounts actually scraping which can be passed along to MD users along with a small profit for MD. I also believe their fees will be reasonable. Then this might get implemented in a timely manner rather than building and maintaining 14,000 scraping routines internally.

  4. 4 Posted by Scott Meehan on 22 Dec, 2015 04:56 PM

    Scott Meehan's Avatar

    Hi Jeff,

    Thanks for the information and suggestion! I've passed it along to the developers for consideration.

    Please let us know if we can be of further assistance!

    Scott Meehan
    Infinite Kind Support

  5. System closed this discussion on 22 Mar, 2016 05:00 PM.

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