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Nooch Blog: Money Made Simple

One more reason to love Apple

One more reason to love Apple

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We love Apple. We built Nooch for iOS first because of Apple’s unified ecosystem, superior security, and elegant UX. Naturally, we get excited for its legendary developer conferences, and this week’s event did not disappoint.

Music powerhouses Drake and Jimmy Iovine joined CEO Tim Cook to unveil an updated Apple Music app and streaming service, a news app, and new versions of iOS and the Watch OS.

But lost in the buzz about this slew of shiny new things was something very important: Apple’s commitment to protecting its users’ privacy and its belief that this commitment will differentiate its products from the competition.

While detailing the enhancements made to the Siri personal assistant and predictive search features, Apple highlighted that personal information was anonymous and not shared with third parties. Your information is between you and Apple – a stark contrast to services like Google, which uses your personal data to target ads in your searches and email.

This got us thinking: What are other financial applications doing with their users’ data?

Venmo famously broadcasts users transactions on its worldwide newsfeed. We’ve shown how this could harm an unwitting user, and you can see some more egregious examples in real time over at Vicemo. While users can make some or all transactions private, Venmo relies on its social functionality.

Much like Facebook’s, Venmo’s newsfeed is designed to keep users checking into the app, even if they don’t need to make a transfer. This is fine for pictures of your baby nephew’s first birthday, but potentially dangerous for your financial transactions.

Or take Square Cash, the P2P transfer service from Square, which is expected to IPO later this year. Analysts have billed its offering as an “E-Pay service turning into data analytics,” while a Wired profile last year examined the company’s massive trove of customer data and its potential to enhance retail offerings in the form of analytics or discounts.

Square Cash falls under Square’s Privacy Policy, which allows that they may share information about users with third parties, including Square Sellers. Something to think about before you plug your debit card into their app.

Like Apple, Nooch maintains a deep commitment to protecting the privacy and security of our users. Your transactions are not broadcast to the world, and we don’t share your sensitive financial information with third parties. We never even see your banking details – that information stays between you and your financial institution.

We believe that this respect for user privacy differentiates us from the competition. In a rush, users might sign up for other services without considering their implications. But we’re confident that after some reflection, our service is the natural choice when it comes to smart and safe financial transactions.

See for yourself by downloading Nooch on the App Store today!

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