Mint, the very timely and innovative startup that offers to organize *and optimize* your personal finances, won the TechCrunch 40 “competition” in Silicon Valley today.
I’m optimistic that Mint could be a great new company if it can get past the obvious key challenge – gaining enough trust from users that they’ll share banking passwords. This is a non-trivial problem given the incredible vulnerability you’d have if *all* your banking information was taken. For this reason I’m wondering if there is any way for Mint to figure out a way to offer some form of “insurance” to guarantee the protection of assets in the even of a Mint security breach. The challenge for them is that the depth of liability here is potentially enormous since they are “protecting” all of a users financial information.