Wells Fargo Adding to Mobile Secuirty Measures

This article talks about the company Xero that is creating security measures for third party apps that use Wells Fargo financial data. For example, the personal finance application Mint requires users to enter their username and password for each account they want to keep track of. Banks in the past such as Chase and Charles Schwab have seen this as a significant security threat even cutting off access to account information via applications like Mint. These banks, including Wells Fargo, are already faced with the security issues of a digital financial future, but companies like Xero are making third party data access more secure. Xero’s solution is to reroute customers to a Wells Fargo controlled logon where they would be able to select the specific account information they want the third party app to have access to. Although this is a viable solution, I question if such a decision will weaken the mobile platform of Wells Fargo as users may be even more inclined to use Mint over the Wells Fargo app. Despite this, I think that Xero’s solution is step in the right direction to enhance financial security for mobile users.
http://www.bizjournals.com.libproxy.scu.edu/sanfrancisco/blog/2016/06/wells-fargo-mint-quicken-wfc-intu.html