Direct Connect vs Web connect

Targ wrote in news:t620p5hdbdeehdioqltg39h500qasea1pi@

4ax.com:

I googled yodlee, because I have no idea what you're talking about. I do either direct connect or webconnect, I don't yodle, since I'm Dutch, not Swiss :-)

Hi, Han.

The Swiss don't yodle, either. They yodel. ;^}

RC

Thanks for the info. Can you say where that is located?

Thanks again. I got there, but it may not be quite the way you pictured. I did not see "Change Online Services". With Account Overview highlighted for an account I click Options, and select View Account List, which gives data on all accounts. That has a column headed by Transaction Download. The one account that I did set up says "Yes (Web Connect Express)" as I suspected. I don't intend to share my credentials, so I have changed my credentials on that account. I want to limit my login credentials to just my computer and the particular institution.

Can I somehow tell before providing my broker/bank credentials whether it is Direct Connect or is going to Quicken's aggregation servers?

Yodlee is the company that has the aggregation servers and system that is used by Mint, which Intuit just bought. With that system, you provide your bank/broker login details to Mint, Mint sends the info to Yodlee, and they access the web pages of the various financial institution on your behalf. The data is provided back to Mint and then to you. You trust they are not going to use your login data for other purposes. Users trust they are not going to be hacked or infiltrated because they have security procedures.

So if you Google (Yodlee and Mint), and (Mint and Intuit), I think you will find info.

I don't know if Mint will continue to use Yodlee, or if it would move to the internal Intuit system.

"R. C. White" wrote in news:-_ydnTlJ-qbw- w3WnZ2dnUVZ snipped-for-privacy@posted.grandecom:

Pun fell flat, eh?

Hi RC! Reading your excellent comments with continued interest! Please keep it up.

Targ wrote in news: snipped-for-privacy@4ax.com:

Thanks for the explanation of how Mint/Intuit works. However, I thought you were asking about how Quicken/Intuit works, and I do not think that Yodlee is involved, at least in the recent past. What will happen in the future is still under the veil of the gods ...

Targ wrote in news: snipped-for-privacy@4ax.com:

The way I always understood it may be different from reality, now or in the future, but here is my understanding (please correct wheere wrong!!):

Using 256 bit security, the password protected "password vault" system under the Quicken program stores your FI logon/PWD information on your computer. Then when you initiate an update, you provide the password vault's password, and then the system uses the stored logon/PWD information for the services/FIs you selected to retrieve the information you desire directly from the FIs, using Intuit/Quicken protocols. I believe the authentication may flow through Intuit servers, and the financial information may have to follow Intuit protocols, for compatibilities' sake.

I believe this is the way it works for both webconnect and direct connect. The differences have been fuzzed recently, since a "one step update" now may use either protocol set.

I don't believe there is anyplace you can access the capability independent of Quicken's Express Web Connect.

"Account Overview" isn't the same as "Overview" (why Intuit chose "Account Overview" for a name, I have no idea - you're not the first to confuse the two). Chances are the Overview tab is located alongside (or one tab away from) the "Transactions" tab.

Maybe, maybe not. If the financial institution is only listed as providing Web Connect downloads (and assuming that is correct), your

*best* possible connection will be Express Web Connect (the fi has to offer that as well, and I don't know how to tell ahead of time whether they do). But if they do not offer Direct Connect, EWC is the best connection possible with that if ... but even if they offer EWC, you do not have to use it (in almost all cases ... Paypal may be an exception).

I was wondering if your credentials were being sent to Mountain View, Kiev, or Mumbai.

Are you saying "the FI has to offer [Express Web Connect] as well", or are you saying "the FI has to offer [Direct Connect] as well"?

Isn't EWC a screen scraper? In that case, the FI does not necessarily knowingly participate, right?

*best* for me may be different than best for somebody else.

If FIs had separate passwords for read access of accounts than the passwords used to transfer money, I would be less averse to non-direct handling. Whether my concerns are valid or paranoid, I think that the EWC is really convenient for other people.

My action may be to set up an FI that I think has direct. After sharing my credentials, check to see if it turned out to be web connect. If it is web connect, quickly change my password at the FI.

I was asking how Quicken works. I had apparently made some incorrect extrapolations. Thanks for your insights.

never really heard of or used Mint - just read about the acquisition the same for Yodlee -

Intuit/Quicken makes MONEY by charging the FI's to use Direct Connect -