Online security has become a crux of online strategists’ sleepless nights. Security concerns have been repeatedly brought to the headlines from the Sony Playstation network hack to the continuous debate on major flaws in Facebook’s security.
A hack into 22Seven isn’t a hack into a database of credit cards, it’s a hack into full database of precise banking information. If your details where compromised you’d have access into every access of a banking profile with the ability to still every cent of your entire capital worth.
The failure of 22Seven to me is the lack of any surety. I got in touch with the 22Sevens team to ask about their insurance against a security breach, in short there isn’t any but their word. They do not offer any insurance against an online hack on your profile even if it’s their system that is compromised.
If you could upload your statements to 22Seven like some of its competitors or it authenticated with your banks through an API (like Twitter for example) I’d be sold on what promises to be a very useful tool. Another alternative is ExpenZa by Apposition Consulting which promises to be a pretty handy looking app.
