I get it's a finance management tool and it looks interesting, but reading the TOS reveals they offer their own credit card, which doesn't seem clear on the homepage.
Also, pretty broad statements...
"You hereby grant SmartFinance and its service providers a nonexclusive, worldwide, royalty-free, sublicensable, transferable, perpetual and irrevocable license to use, store, reproduce, modify, display, adapt, distribute, transmit, create new material using and otherwise exploit any and all information, data, passwords, materials, pictures, ratings, contacts, tags, receipts and other content you provide directly or indirectly through or to the XOBI Service (collectively, “User Content”) for the purpose of providing the XOBI Service. "
"For all purposes hereof, you hereby grant SmartFinance and its service providers a limited power of attorney, and you hereby appoint SmartFinance together with its service providers as your true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for you and in your name, place and stead, in any and all capacities, to access third-party internet sites, servers or documents, and to retrieve and use your information, all as described above, with the full power and authority to do and perform each thing necessary in connection with such activities, as you might or could do in person."
Hi @dshan, You’re correct, the language is referring to a credit card we are planning to offer at year end with our partner bank. Our plan is to offer our users the security of a bank and features of a technology company.
@webbuzzau@dshan Hi Ben,
Thanks for following up on the subject. Out of context, the language from the TOS is confusing.
The license ensures that we have the right to use the material you provide to bring you the XOBI service. For example, if you take a photo of a receipt and upload it to the XOBI App, we need your permission to actually show it to you. When you choose to connect an external bank or credit card account to the XOBI Service, we also need your permission to display it in the app as well. These permissions are only for content that you make available to us, and only for the purpose of providing the XOBI Service.
The agency language allows us to act on your behalf to ensure the XOBI Service works with your external bank or credit card accounts. These banks or credit card issuers will only provide support to account holders or their agents. As your agent, we are able to directly act on your behalf and resolve issues we may have connecting your account to the XOBI Service. Otherwise we may not be able to connect your external accounts to the XOBI Service, or repair those connections when errors occur.
This language is necessary for us to provide you with the XOBI Service. To be clear, we are still responsible for acting with your privacy in mind. The security and privacy of your personal information is very important to us. We assume that your uploaded photos contain your personal information, and we store and use them securely and confidentially along with the rest of your personal information. Even our employees do not have access to your information.
Should you have further questions please don’t hesitate to write here or directly.
Thanks @alexjferguson17! We are definitely working on a more advanced budgeting feature which is going to tie in seamlessly with our natural language component.
I've tried many personal finance applications and what usually makes the experience bad is the way you tag the transactions (i.e. do you recognize Valero to be a gas station or a travel expense?). I'm curious to know more about how this is done or if you guys are using another service on the backend to help you with that?
Hi @sanchitbar, Spot on merchant resolution is very important for us, so we've actually build our own proprietary models that categorize and even tie a transaction to a particular store. We're definitely working hard to make this better day by day, but I can reassure you that Valero is categorized as Fuel in our system. 😉
Hello Product Hunt! Arthur here from the XOBI Team and I’m really excited to be on PH. We just launched late last week and would love your feedback on the app.
@arthur_mosh
Congrats for the product. I wasn't able to test it (no iPhone) but found the set of features very promising.
What countries / banks do you support?
Thanks @danflopes! We're definitely working on our Android version to be released by year end. Currently we support over 15k US banks.
Report
Hunter
"At XOBI, we feel that traditional banking has yet to truly embrace new mobile technology when it comes to the user experience. It's a pain point we see every day in the industry. Tech savvy consumers are hungry for transparency, convenience and easy-to-use mobile accessibility. We believe that everyone should have their own personal financial assistant and we're excited to offer that assistant for free."
@nikkielizdemere I've been using Mint for 5 years and the trends and graphs are incredible for predictions and budgeting. Testing out XOBI know and it's super interesting I wish I knew more about how they will handle all that data.
Ie. Sell Ads and Promoted products like Mint?
Thanks @nikkielizdemere! @luizcent: At XOBI, we wanted to give our users a new and a more modern way to access their financial data. Later down the road we are planning to offer financial products with premium features that are specifically custom tailored for our users needs. Today, to find out what your current spending is, you can just ask XOBI, “where does my money go?”
Report
I'm surprised this doesn't seem to have a "budget" feature. I would think that would be more useful than most things. For example an alert could be sent when you are above the threshold in a spending category. or at the least help people understand what percentage of their income should go to what category (housing, investing, food, entertainment, etc)
That’s an awesome idea @parkerwoodward! More budgeting features are definitely on our roadmap. We need all the feedback we can get from early adopters like you!
Product Hunt Regular
XOBI
XOBI
XOBI
Countdown to Inbox Zero
XOBI
XOBI
Remotes.in
XOBI
mailshake
XOBI
XOBI
Osaurus