Zerodha CEO and founder Nithin Kamath slammed the pervasive nature of ‘most apps today’ for harvesting users’ data without consent. Taking to microblogging platform X, Kamath wrote “Most apps today have become unusable. They bombard users with irritating notifications, spam messages, and dark patterns, and many are downright scammy.” In the post, he also highlighted how some of these apps track usage across other apps. “What's truly disturbing is that some apps track usage not just within their own environment but across other apps too. This means your most personal data is being harvested without your consent and sold to companies for shady targeting purposes,” he wrote.
Kamath also emphasized how the Zerodha app is ‘different’ from most apps. He claims that Zerodha only requests “app permissions that are genuinely necessary for functionality.” He further stated “We don't send unnecessary push notifications, messages, or emails. We don't peddle useless financial products or push you to trade for the sake of ‘engagement’,”.
In a consequent post, Kamath quoted a 2023 report by The Ken stating 10-15% of fintech users abandon apps due to privacy concerns.
Here’s what Nithin Kamath wrote on X
Most apps today have become unusable. They bombard users with irritating notifications, spam messages, and dark patterns, and many are downright scammy.
Without your knowledge, numerous apps on your phone track and harvest extensive data: which apps you've installed, how you use them, the content of your emails and SMS, media on your device, and more.
What's truly disturbing is that some apps track usage not just within their own environment but across other apps too. This means your most personal data is being harvested without your consent and sold to companies for shady targeting purposes.
At @zerodhaonline, we're different. We only request app permissions that are genuinely necessary for functionality. We don't send unnecessary push notifications, messages, or emails. We don't peddle useless financial products or push you to trade for the sake of "engagement."
Not doing unto others what we don't want done unto us is deeply rooted in our philosophy.
Kamath also emphasized how the Zerodha app is ‘different’ from most apps. He claims that Zerodha only requests “app permissions that are genuinely necessary for functionality.” He further stated “We don't send unnecessary push notifications, messages, or emails. We don't peddle useless financial products or push you to trade for the sake of ‘engagement’,”.
In a consequent post, Kamath quoted a 2023 report by The Ken stating 10-15% of fintech users abandon apps due to privacy concerns.
Here’s what Nithin Kamath wrote on X
Most apps today have become unusable. They bombard users with irritating notifications, spam messages, and dark patterns, and many are downright scammy.
Without your knowledge, numerous apps on your phone track and harvest extensive data: which apps you've installed, how you use them, the content of your emails and SMS, media on your device, and more.
What's truly disturbing is that some apps track usage not just within their own environment but across other apps too. This means your most personal data is being harvested without your consent and sold to companies for shady targeting purposes.
At @zerodhaonline, we're different. We only request app permissions that are genuinely necessary for functionality. We don't send unnecessary push notifications, messages, or emails. We don't peddle useless financial products or push you to trade for the sake of "engagement."
Not doing unto others what we don't want done unto us is deeply rooted in our philosophy.
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