Mmastodon BusinessStartups first seen 3 d ago, last 2 d ago, peak #1

Fintech startups pushing users to share banking credentials criticised

Original: "You provide your banking login and our AI ..." It's absolutely mind-boggling how many new fintech startups suggest you

A wave of new fintech startups is asking customers to hand over their online banking login details so AI tools can manage or analyse their accounts. Critics point out this often breaks the banks' terms of service and exposes users to serious security and liability risks. Commenters warn that branding a service as AI does not make sharing credentials with a third party safe, and urge consumers to stick to official bank integrations and regulated open banking channels.

Why now: Growing concern over security risks and terms-of-service violations as AI-powered fintech apps ask users for their bank login details.

fintech startupsbanksAI services

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Rank over time, top of the chart is #1. 37 snapshots from 3 d ago to 2 d ago.

Evidence

• "You provide your banking login and our AI ..." It's absolutely mind-boggling how many new fintech startups suggest you break your bank's terms of service. Just because a third party uses AI doesn't make it a good idea to share your credentials. # AI # banking # startup · kdkorte@fosstodon.org · 2

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