With encryption on the MyFinancier app, your data is more secure than on a regular website.
In the MyFinancier app, each user’s financial data is placed in a locked container with a user-generated cryptographic key that cannot be opened by anyone except the user. This means that no software component, process or person inside or outside the MyFinancier software solution can access this data in any way, even if they wished to do so. The architecture of the app is built around the principle of data protection.
The level of data protection in a standard security software solution, such as a social media app or an e-commerce site, is much lower because encryption is only used in some of the most risky phases, such as the movement of data over the internet. Such solutions are built optimistically, i.e. on the assumption that storing and processing data in an open form on servers does not pose any particular risk. However, in the event of an unforeseen software bug, attack, data leakage or careless handling, such systems run the risk of data ending up somewhere it should not.
MyFinancier’s approach to security is the best way to protect confidential information.
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