[jonahbenton]

You "don't store personal info" but you "provide other products to translate historical bank data into consumer/business credit risk."

Sorry, those two statements are in contradiction. Which one is true?

On a more opinionated front, consumer "credit" risk specifically based on personal deposit account balances and transactions is an insanely privacy violating and unregulated (generally) offering. Business is different. Why even go consumer?

[tonikami]

Hey, we don't store personal info for our core product which is Fuse Connect we only act as a pass through. The Consumer/Business Credit Risk product does require us to store historic transaction data in order to calculate insights.

Over the past few years a lot of consumer apps have started using bank data to determine credit risk for customers. From our experience this is generally accepted by consumers, as credit data does not provide the full picture. For example, I am originally from the UK and after moving to the US, I had no credit history so it was generally hard for me to use any service that could not determine risk based on cash flow.

We also offer Business Risk Report.

[yonz]

Forgive me if this is dumb, but is Fuse connect a direct route to connect to banks orthogonal to third party aggregators? Is there a way to say no third parties?

My priorities are privacy first then wider coverage for bank accounts. I'd rather some consumers are blocked form accessing the service than having their transaction data getting leaked to intermediaries.

[tonikami]

Hey, right now Fuse is dependent on third party aggregators and is most useful for companies that want to increase coverage and reliability. One idea if you're concerned with aggregators storing your customer data, is to only whitelist institutions where connections are established through OAuth. This way the aggregator won't be storing any account credentials. Most top aggregators have a few of the top institutions using OAuth now, so if coverage is not an issue for you this would be a good path.