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Amazing! Somehow they manage to move the data from Point A to Point B and process it at Point B without *ever needing to store the data at Point B*.
I hope they've patented that. Microsoft, Adobe, and others with expensive software would love to have a way to allow you to use their products without leaving any traces whatsoever on your machine.
@krunk4ever: I'm not so sure about that. The claim is that they store no personal data on their server, so what I am thinking is they use their severs as kind of a proxy to the banking institutes. That way all the information is pushed through one controlled place rather than having the application contact each banking institution individually. This would be a benefit becasue if one of the banks changes the interface for their net access, buxfer just needs to make changes on their side, not on the user side.
The downside to this is that if that central point gets compromised, it could be a problem becasue the info could be sniffed while in transit.
I like Mint, but it has trouble accessing about half of my accounts. Until they fix it, it's just a toy for me. Perhaps this will work better.
I love the offline option: Quicken. Look out for cheap OEM versions or 'free versions'.
i signed up and downloaded it and looked into what it stores in the google gears sqlite database it uses.
it only stores your bank account usernames / passwords, not all the transactions. so yeah, they have your financial records still on their servers.
also your pw is stored in cleartext on your local system
@mrterrysilver: hah, that's hillarious. Knowing the average end-user these days, I think I'd rather the data be stored on their servers. A clear-text password on a spyware-infested workstation is an entertaining thought.
mrterrysilver, denon:
We are working on this issue. Expect a fix to be out within the next 10-12 hours.
--
Shashank,
Co-founder,
Buxfer
Uh... the information *ALWAYS ALWAYS ALWAYS* must be stored at every point of contact. It sits in memory somewhere. If it wasn't sitting in memory, you couldn't do anything with it. You couldn't route it, you couldn't calculate with it, etc.
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@mrterrysilver: Yeah, that's what I wrote: \"The service uses Google Gears to store account login information and credentials on your own computer, then syncs the data collected with the Buxfer servers, writes VentureBeat.\" Not sure why so many readers before you thought it somehow magically stored everything on your computer, but *shrug*.
@denon: I agree. But for that percentage of users who a) know what they're doing and b) don't want to store login info on other servers, Buxfer is at least something to consider.
\"without having to blindly trust an unknown company with sensitive data such as bank account or credit card numbers (goodbye Mint!). \"
This is a bit unfair, as Mint only stores logins and passwords. Your actual bank account numbers are never stored on Mint servers. A fine distinction, but an important one.
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I would love if Canadian banks were supported. I'm sure a lot of us agree.
There's tons of Canadian people who are looking to use something like this, and are not able to because all these websites don't have Canadian banks.
The first one who supports it, gets a HUGE Canadian fan base, heh.
Besides, it's not like we have tons of banks here. The most used ones are:
Royal Bank of Canada
CIBC
TD Canada Trust
President's Choice Financial
Bank of Montreal
Scotia Bank
6 majorly used banks. Our mobile phone operators list is even smaller! Yay Canada!
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Interesting. I am curious as to what they need to sync with their servers if they have no intention of storing anything there. I think Ill take a closer look at this as it might be a more user friendly alternative than say quickbooks, GNUcash or MS Money