Show HN: Fion – A new tool to track your spending, without a budget

Re:Show HN: Fion – A new tool to track your spending, withou... by msy on Tuesday October 06, 2020 @10:31AM (#24698022)

So, it says they're not selling data. It also has no pricing page. There's no way I'd consider handing over that kind of data and access without a clear understanding of their business model.

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Re:Show HN: Fion – A new tool to track your spending, withou... by blackbirdster on Tuesday October 06, 2020 @10:52AM (#24698247)

> We may use your data to create aggregate or statistical information that does not directly identify a specific person, and we may share that information

So no selling of your personal data, but they hope to sell aggregated data. Privacy policy also has quite a lot of details about a possible merge / buyout, and non-responsibility in this scenario, so they may hope to amass some data as _freemium_ and then to sell the whole company for a nice profit.

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Re:Show HN: Fion – A new tool to track your spending, withou... by Chris2048 on Tuesday October 06, 2020 @11:31AM (#24698777)

But wait:

  We *may* use your data to create aggregate or statistical information that does not directly identify a specific person, and we *may* share that information.

This doesn't say they won't sell your data, it just says they might anonymise it.

They do say:

  [We do not share your information] with any third parties so they can market to you

But what can 3rd parties themselves share that info for marketing.. I'm not sure..

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Re:Show HN: Fion – A new tool to track your spending, withou... by emaro on Tuesday October 06, 2020 @10:46AM (#24698178)

I had the same thoughts.

Sounds nice--but what is the catch?

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Re:Show HN: Fion – A new tool to track your spending, withou... by FionMoney on Tuesday October 06, 2020 @10:55AM (#24698295)

We plan to offer paid premium features such as spending insights and advanced reporting. We also have plans for personalized recommendations and exclusive deals, provided the incentives are aligned with our users. We'll never sell your data to third parties, or try to sell you something you don't need (e.g. a credit card or loan offer).

Paid budgeting tools generally charge between $80-$100 per year, which can be a good value if a budgeting methodology works for you and saves you money. This, however, limits the size of the market significantly.

Fion is free because we want to make it easy for as many people as possible to track their spending across all their cards.

We will expand on this topic on our blog, because it's a very important issue that all free personal finance apps need to address.

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Re:Show HN: Fion – A new tool to track your spending, withou... by robertlagrant on Tuesday October 06, 2020 @11:10AM (#24698458)

> Fion is free because we want to make it easy for as many people as possible to track their spending across all their cards.

This sort of statement is unhelpful because while it's true in a sense, it's not your business plan. Your business plan reason for making it free is you will capture a lot of users, and will monetise through advertising and freemium options.

And that's fine.

Saying it's free because you want to help people just sounds like empty marketing.

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