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Advantages of Online Financial Software

From Shelley Elmblad, for About.com

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Online Software Data Security

The thought of storing your personal finance data on an online software provider's servers may concern you, but chances are your data is more secure on those servers than on your home computer.

  • Online financial software usually provides the highest level of data security, as provided by online banks and other financial institutions.

  • Online personal finance software providers encrypt your data so no one can see it, even those working on the provider's computers.

  • Reliable online financial software provide security with a firewall which filters network traffic to stop malicious attacks over the Internet to add another layer of protection for your data.

Many home computer users do not install firewall, antivirus and anti-spyware software and if they do, the software is often not set up for optimum protection. Often, those on broadband connections do not have properly secured routers, which is an invitation to hackers. These are not issues with online software from a trusted provider.

Tip: Before using online financial software, look for a privacy or security statement on the website, usually found at the bottom of the web page or in the "About Us" section of the site. If you do not find a published security statement, contact the provider to request a copy of the statement.

Next: Online Software Uptime and Data Back Ups

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