Justin Baer
speaker
162 appearances
3 recordings
1 series
first heard Feb 2020
last heard Nov 2024
Justin Baer’s voice in public audio — every appearance, attributed to the second.
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Appearances
They ask you essentially permission to go to your financial institution and take that data.
The issue that has emerged as these have grown more popular is that there are not really a lot of parameters around the information they can take.
And if you were to stop using that app, the flow of that data doesn't necessarily stop when you delete that app on your phone.
And one way to look at it is that you're giving a lot of those apps your login credentials, and they're essentially pretending that they're you in signing on to your bank to take that information.
So what this service does is essentially sit in between those two parties and allow...
When you get that request from that app to say, hey, we'd like to grab this information, you don't have to give them your log information.
It basically sits in a box, and you sign in into that account, and you direct that account and give explicit permission to give the app, whatever it is, a certain kind of information.
Yeah, so that's essentially giving your login information to an app.
They sign in, and they kind of take whatever they want, even if it necessarily goes beyond the scope of what you want them to have.
Yes.
So you'll be able to do that.
You'll be able to specify which accounts, if you have multiple accounts within each institution.
And then after you've established that link, you're able to go back to that.
And it's basically going to be housed on the website of whatever bank or financial institution you have an account.
And so you'll also be able to say, you know what, I no longer use that app, or I don't like it, or I found another one.
I want you to shut off access starting now.
That's certainly Akoya's hope, right?
I think they wanted to eliminate what Sub might perceive as a barrier to having people sign up, meaning, wait a second, Fidelity is in its own right this giant financial services company.
I, bank A or broker B compete with them in a million different ways.
Why do I want them?
Showing 121–140 of 162 · page 7 of 9
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