Masterclass

MoneyBrilliant and Security

Published on November 25, 2015 1:55 pm, by

What MoneyBrilliant does

MoneyBrilliant takes the pain out of budgeting.  It categorises your transactions and gives you a realistic view of your finances to help you see where you can make savings.  Rather than managing accounts at multiple institutions with multiple internet banking logins we pull all that information through in to one overall view for you.  This is the starting point to be able to use the features that the MoneyBrilliant service offers.

What MoneyBrilliant doesn’t do

MoneyBrilliant is not transactional.  Even if it was possible for somebody to access your MoneyBrilliant account they would not be able to see your account numbers or move money around.  Even you can’t do that!

MoneyBrilliant doesn’t sell your data.  We make money through our paid PLUS subscription for customers and corporates.

How we do it

We consolidate all your account information to one view by setting up secure connections to your bank account data. To do this you will need to provide your banking credentials. Your credentials are immediately encrypted using bank-level processes so you can be confident you are not sharing your information irresponsibly or with any individuals.

Here at MoneyBrilliant we understand that security is important.  We encourage our customers to be savvy about their banking and online security.  We expect questions about how safe your data is.  The age of the internet can be scary so it’s not surprising that some people hesitate before they enter their banking credentials in to MoneyBrilliant. We encourage you to do your homework on us. You will see that we are closely related to AMP with their oversight on  our security.  You will also see that we engage Yodlee Inc., a global leader in secure data provision, to keep your information safe.

Doing your homework to understand our security practices and how we use your banking credentials in a safe manner to deliver you a valuable service is conducting reasonable due diligence around your password security.

How we keep your details safe

Your credentials are immediately encrypted and stored by Yodlee Inc. in a separate database using multi-layered hardware and software encryption.  Your credentials are never stored with MoneyBrilliant. Yodlee Inc. have an impeccable security record which is why we partner with them and why we encourage you to question how your information is protected if you have or are using similar services to MoneyBrilliant and they are not using Yodlee Inc.

More on Yodlee

  • They have over 72 million users worldwide
  • Many leading Australian financial institutions including ANZ use Yodlee to deliver online services
  • Yodlee’s bank level security is audited and accredited by the US government

 

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Jen is an experienced banking professional who loves wine, coffee, finding a bargain and of course her three beautiful children. Since Jen's first budget led her to buy a home at 20, Jen has passionately helped others to make better decisions with their money.

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