How we’re supporting and troubleshooting your bank feeds as we enter 2023

Gone are the days of annual or quarterly software releases, or hours (days? weeks?) of down time.

lol Someone forgot to tell that to Quicken.

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Not really. I was implying that market forces make corrections in a free market. Quicken has somehow transcended the tipping point where they are in a monopoly position.

Free markets tend to converge via negative feedback loops (i.e. More encourages less. Less encourages more).
Monopolies tend to diverge via positive feedback loops (i.e. More encourages more. Less encourages less).

About 10 years ago, I had an accountant tell me that Quicken was fatally flawed regarding professional practices within the financial world. The problem was that they had such a huge embedded base, they could not fix those flaws. She suggested Xero, saying that since they were from Australia (New Zealand?), they did not have an embedded base and were free to learn from Intuit’s mistakes, but not bound to repeat them. I like the thinking at the time. I also liked that Xero was currency independent… it was a product of the whole world. Unfortunately, being free from US customers, it was also free from many of the US customs. It had too many foreign assumptions hard wired in, and not enough US assumptions available.

Joke I learned in the 80’s when Microsoft was eating IBM’s lunch…
Q: How come God created the world in 7 (or 6) days, but IBM can’t do
A: God didn’t have an embedded base

Now it’s Microsoft that has the embedded base. They’re getting done to them what they did to IBM (in some markets, not all).

Caveat: It’s been over a decade since I formed these opinions of Xero product. They well may have flipped it around a few times since then. My inisghts into competition, monopolies, and embedded bases have remained.

Alas… there is no free lunch.

Thanks for chiming in here @michaelrwolfseattle - great feedback :slight_smile:

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Hello,
It seems like low volume might be associated with cities less than 200,000 in population, large nationwide banks are pulling out of small communities because they want a larger volume of accounts that smaller cities do not generate for them. Still, there are a lot of us out there that have no choice but to bank with smaller regional banks and we seem to be the one being penalized because Yodlee does not have a relationship with him. I bank with one of the largest family owned banks in the US but since they are regional and not nationwide, we do not get support from Yodlee. I have changed to this bank in the Spring of 2022 and still yet to get any help on my duplicate transactions that download. Also, how can I recommend Tiller to any of my family or friends who live in our city of less than 200,000 if we can not get adequate support from Yodlee or Tiller, so sad because Tiller has a great product.