I get it's a finance management tool and it looks interesting, but reading the TOS reveals they offer their own credit card, which doesn't seem clear on the homepage.
Also, pretty broad statements...
"You hereby grant SmartFinance and its service providers a nonexclusive, worldwide, royalty-free, sublicensable, transferable, perpetual and irrevocable license to use, store, reproduce, modify, display, adapt, distribute, transmit, create new material using and otherwise exploit any and all information, data, passwords, materials, pictures, ratings, contacts, tags, receipts and other content you provide directly or indirectly through or to the XOBI Service (collectively, “User Content”) for the purpose of providing the XOBI Service. "
"For all purposes hereof, you hereby grant SmartFinance and its service providers a limited power of attorney, and you hereby appoint SmartFinance together with its service providers as your true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for you and in your name, place and stead, in any and all capacities, to access third-party internet sites, servers or documents, and to retrieve and use your information, all as described above, with the full power and authority to do and perform each thing necessary in connection with such activities, as you might or could do in person."
Hi @dshan, You’re correct, the language is referring to a credit card we are planning to offer at year end with our partner bank. Our plan is to offer our users the security of a bank and features of a technology company.
@webbuzzau@dshan Hi Ben,
Thanks for following up on the subject. Out of context, the language from the TOS is confusing.
The license ensures that we have the right to use the material you provide to bring you the XOBI service. For example, if you take a photo of a receipt and upload it to the XOBI App, we need your permission to actually show it to you. When you choose to connect an external bank or credit card account to the XOBI Service, we also need your permission to display it in the app as well. These permissions are only for content that you make available to us, and only for the purpose of providing the XOBI Service.
The agency language allows us to act on your behalf to ensure the XOBI Service works with your external bank or credit card accounts. These banks or credit card issuers will only provide support to account holders or their agents. As your agent, we are able to directly act on your behalf and resolve issues we may have connecting your account to the XOBI Service. Otherwise we may not be able to connect your external accounts to the XOBI Service, or repair those connections when errors occur.
This language is necessary for us to provide you with the XOBI Service. To be clear, we are still responsible for acting with your privacy in mind. The security and privacy of your personal information is very important to us. We assume that your uploaded photos contain your personal information, and we store and use them securely and confidentially along with the rest of your personal information. Even our employees do not have access to your information.
Should you have further questions please don’t hesitate to write here or directly.
Hello Product Hunt! Arthur here from the XOBI Team and I’m really excited to be on PH. We just launched late last week and would love your feedback on the app.
@arthur_mosh
Congrats for the product. I wasn't able to test it (no iPhone) but found the set of features very promising.
What countries / banks do you support?
@hgottfried Thanks for reaching out. We are actually working on a white paper that describes our security and it will be available soon. I was excited to see that you asked the question because no single aspect of our product has had more effort, thought and testing than our security but here it is in a nutshell. I am sure you already read that we use an AES 128-bit key to encrypt all communication between the GUI and our backend servers and we use SSL/TLS on top of that. The AES key itself is protected and exchanged through the use of a 256-bit RSA public/private key pair that is generated by the app on each device. Within our four walls, all data is carried on encrypted channels. It needs to be stressed that no data is ever stored on the mobile device in any form. Moreover, our architecture includes a tokenization layer (very proud of this piece) which further abstracts away our applications from any restricted data and has a different set of encryption keys. Nothing is more important than our security. Not even our employees can see your transactions or balances. In addition, we do not share and will not share any personal information with 3rd parties. Period.
We are very passionate about our mission to create a consumer-centric platform with the best tools in which to manage your money. All the features represent something we wanted for ourselves. The products and features we offer now and in the future we will offer will only be in response to what users want. Security must come first. Thanks for giving us a chance to tell you how much we prioritize security.
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