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People want to see financial data 'in one place'
May 21 2010, 11:16 AM
An increasing number of consumers are using banking aggregator services to keep track of their accounts.
Jon Prideaux, Deputy Chief Executive at counter fraud service provider SecureTrading, said there is "undoubtedly" a demand from some individuals to see all of their financial data in one place.
"What people using bank-endorsed aggregator services should expect is not only that they work, but also that they're secure. The best way for a bank to demonstrate their confidence in this respect would be to take liability," he explained.
Mr Prideaux added that some consumers "go freelance" and pull all of their financial data together themselves.
It was reported by the Telegraph earlier this week that a number of financial institutions have warned that they will not compensate people who put their account passwords and usernames into aggregator sites.
Dan Moore, a senior researcher for Which? told the publication that many consumers are confused about the safety of these services.
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