Comment by workworkwork71

Comment by workworkwork71 a day ago

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I'm a founder in this space (Fulfilled - posted above). Here's the reality: You're right that incentives matter. But selling your data would be idiotic for us, same reason it would be for your bank in that trust is the entire business model.

If we want to monetize insights from aggregated data, we'd do it in-house and offer you better products. Example: Why sell your mortgage readiness data to some broker when we could source competitive mortgage offers and present them directly to you? Keep you in our ecosystem, add value to your experience, and build a revenue stream that doesn't destroy the core product.

The wealth space is crowded. Companies that burn user trust get exposed fast and die faster. The only sustainable path is treating your data like it belongs to you and not us. Any company here who doesn't get that is building on quicksand and I'd be very surprised to hear any of the larger players engaging in those practices but maybe I'm naive.

Either way, it's why we're a Fiduciary and that blankets the entire product suite.

technofiend a day ago

"...Selling your data would be idiotic...same reason it would be for your bank [to sell your data] in that trust is the entire business model." I'm afraid that ship has sailed and taken your data with it.

https://www.cnbc.com/2025/11/14/jpmorgan-chase-fintech-fees....

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  • workworkwork71 20 hours ago

    I really don't think you read this article beyond the headline because that's not what it's about or implying...literally in the slightest.

    That article is about JPMorgan being able to charge Plaid or other providers for the middleman access. They used to be operating almost for free, now Plaid has to pay for access the same way companies like mine pay Plaid.

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    • technofiend 19 hours ago

      So you don't think Plaid sells customer data? And by extension charging for customer data requests by Plaid and other aggregators isn't in fact charging for it?

      Plaid does in fact sell your data, but they ask for permission first. So does JPMC, for that matter: https://media.chase.com/news/chase-launches-chase-media-solu...

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      • workworkwork71 17 hours ago

        So you didn't read the article and now you're just throwing out statements without validation? Great, if JPMorgan is selling your data then that's their decision and that's beyond the scope of this convo. We work with partners (Plaid, Snaptrade) who explicitly state that they DO NOT sell user data, and we maintain the same principles:

        https://plaid.com/safety/

        Here is the quote if you're too lazy to read this one too:

        Does Plaid sell my financial data for advertising or marketing purposes?

        No, we do not sell your financial data to third parties for marketing or advertising purposes.

        Plaid only shares your data to power the services and products that you choose or to protect you and the Plaid network from fraud.

        Plaid was founded on the principle that you have a right to your financial information and we are focused on providing products that allow you to safely and conveniently access your data and harness the power of Plaid’s secure financial network.

        As Plaid develops more products and services, you may ask Plaid to share your information in ways that benefit you and that you control.

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