We`ve decided to start our first post with the security as this is the most sensitive issue for the finance apps.

How Money Nanny differs from the other apps who offers the automatic tracking for the account – WE DO NOT ASK YOU TO ENTER THE SENSITIVE DATA. We would never ask you to give us your online banking login and password or any pin codes or account / cards number.   If someone ever does – thats not us and not Money Nanny.

So, let us explain how Money Nanny works.

Money Nanny does not access your account. It simply can`t, because UAE banks do not have open API, hence we can`t get inside sensitive banking data. But what everyone has in their phones is sms banking. For every single purchase you do, you receive an sms. And that is exactly where Money Nanny gets the data to work over your budget. It reads your sms, analyse type of expense and store the sms in the cloud, while updating your finance sheet.

Yes, we do request to enter THE LAST 4 digits of your card and account and select the bank.

Why we need THE LAST 4 digits – to distinguish your card transaction and your account transaction, so both accounted in the overall finance picture.

Why we need to now bank – Money Nanny will grab data from sms with the specific name only. We`d like to make sure that we are grabbign only your sms banking.

The above is just for us to match and verify the details from the sms banking.

Yes, we also aknowledge that finance is the sesnsitive data, even without bank account details. Below is te lisy of data Money Nanny will collect:

  • clicks in the app
  • what offers you`ve been looking at
  • what amounts you`ve been askign advises
  • allowance history

Why we collect this data – the answer is simple – the clicks on the app have technical purpose – we need to see if all works and, if there are some bugs, we`d like to see where exactly, so we can fix it.

For offers, advises and allowance history – we`d like to know what you are interested in and what you can afford, so we can provide you with the banking / finance information which can be relevant for you without any spam.

As any other finance app we are going to analyze the aggregated data so we can help financial istitution to conduct marketign campaigns better and offer you products which can be useful and relevant. We help to save both your time and banks` time on getting to right product to a right customer!

If you have any specific question or would like to know more – shoot us an email to info@money-nanny.com and we`d be happy to answer all your questions.

P.S. We are about to launch the version for beta testing within the closed group and we would be happy to have people on board. For those who are interested to join us in testing the updated version please send us an email or FB message on our page https://www.facebook.com/MoneyNanny