Aster Key

Brad Blumberg and industry icon Brian Vieaux discuss the founding of Aster Key and the rising importance of data security at the highest levels of government and the boardrooms of financial services companies. https://lnkd.in/eN-gYyNM American Bankers Association The Mortgage Collaborative Mortgage Bankers Association Consumer Financial Protection Bureau COMMUNITY HOME LENDERS OF AMERICA NAFCU (National Association of Federally-Insured Credit Unions)

There is a unique feature in the Aster Key app, as noted in The Mortgage Note, where our partner Novum Home Loans was quoted. Novum has a quick tool to get you the Aster Key app: https://lnkd.in/eTw6KBi6 Homebuyers can now - and for FREE - create instant PROOF OF FUNDS letters. ??Aster Key's Proof of Funds letter is a safety tool for Realtors with an asset and ID verification check. Pre-verification of a driver's license and assets is not something bad actors will do when they want to meet you at a showing. ??This also protects the Seller's home, as everyone is financially qualified to be there. Realtors put this in your listing presentations. ??AND this protects the homebuyer's data—the core of Aster Key's mission. https://lnkd.in/e2wHQyvT

Why Mobile Devices Might Be the Future of AI: Personal vs. Cloud-Based LLMs We’ve been thinking about how mobile-savvy companies like Apple could be poised to take the lead in how we use AI. With the iPhone and similar devices at our fingertips, there’s a real opportunity for personal on-device AI experiences prioritizing our privacy and security.? This aligns with our vision for Aster Key as the on-ramp for secure financial transactions, so we're looking forward to how this unfolds. A Little Reality Check Let’s face it: Would you really hand over all your personal and financial data to a massive, data-hungry large language model (LLM)? While many companies and people are doing just that, it raises some important questions about privacy and data security. Comparing Personal and Cloud-Based LLMs Let’s dive into the differences between personal LLMs that run on your device versus those that are cloud-based. The implications for security and privacy are significant. Benefits of On-Device Personal LLMs 1. Data Control: When your LLM processes data locally on your phone, you retain full control. That means your sensitive information isn’t shared with external servers, significantly reducing the risk of data breaches. With everything happening on-device, there’s less exposure to the vulnerabilities associated with centralized databases. 2.Privacy by Design: This means you can enjoy AI assistance without worrying about your data lingering around somewhere it shouldn’t. Plus, with built-in device security features, you can safeguard your information even further. 3. Reduced Attack Surface: Without the involvement of external servers, there’s a much smaller attack surface for hackers to exploit. This alone makes on-device solutions more appealing in an age where data breaches are becoming all too common. 4. Local Context: On-device models can provide tailored responses based on your specific context without needing to send data to the cloud. This means you get personalized assistance while keeping your data private. The Bottom Line While cloud-based systems might offer more powerful models, they often come at the expense of privacy. On-device models, on the other hand, provide personalized experiences without exposing your data to the dangers lurking in the cloud.? As we move forward, it’ll be fascinating to see how these dynamics play out. With increasing awareness about data privacy, consumers may gravitate towards solutions that give them more control. The future of AI could very well be personal—and it could start right in the most secure device you own - your phone.?

If your marketing or tech vendor is hacked and consumers are harmed, will you be on the hook? The FCC used its jurisdiction to fine AT&T $13 million because one of its marketing vendors was hacked and exposed customer data, underscoring the responsibility of licensees for their vendors' actions. This logic could affect lenders if financial regulatory bodies take similar action. Details: The incident involved a marketing vendor mishandling AT&T customer information between 2015 and 2017, failing to delete data as required, which led to a significant breach in January 2023. Accountability: The FCC held AT&T liable for not ensuring the vendor protected customer data, reflecting its stance that licensees must safeguard their customers' personal information, regardless of where the breach occurs. Full article from Cooley LLP: https://lnkd.in/ef_5mizv

Aster Key founder, Brad Blumberg, talked to the The Mortgage Note as they report on ways to safeguard consumer data in view of the epidemic of successful hacks on lender systems. https://lnkd.in/erwj9fky

We like building Aster Key in full view and getting your feedback as we grow. We’re excited to share that in our next iteration, we’re transitioning from stealth to “semi-stealth” mode. Next week, we’ll update our iTunes and Google Play store graphics. We’re evolving from our initial “Create Your Anonymous Financial Statement” offering to a new feature that allows you to “Start Your Mortgage Anonymously” with mainstream lenders using your encrypted financial profiles. This is a mortgage industry first. New models like Aster Key are needed -- since we are even surprised at the pace of hacking at great financial institutions. Chase notified many Americans this week that they had a breach. New models are needed. We can’t wait for you to check Aster Key out. Let us know what you think! https://lnkd.in/e_mfaBt2 Aster Key #mortgage #dataprivacy #newloanchannel

Chrisman Commentary is one of the best morning reads in the mortgage industry. Today, Chrisman issued a reminder about cybersecurity options in the wake of devastating attacks on financial institutions, leading with comments from Brad Blumberg, CEO of Aster Key - read it here: https://lnkd.in/eMaF3Fxn

Thank you, Product Hunt Community! We're honored. Product Hunt #Aster Key

Product Hunt is where founders show their newest creations to other tech founders and people who love new tech. Here's our opening comment to introduce Aster Key: Hello, Product Hunters! ?? I’m excited to introduce Aster Key—a groundbreaking app for lenders and privacy-conscious consumers. Today, we announce an industry first: You can start a mortgage process anonymously with mainstream lenders in the United States. We founded Aster Key out of frustration with financial institutions’ vulnerabilities to cyberattacks and data breaches. Yes, our data has been hacked from lender databases! This was in the news this week: "Massive data leak may include the personal data of every person in the US, UK, and Canada," so maybe you've experienced losing your data as well. The Problem When you apply for a mortgage, the harsh reality is that your data is treated like a hot potato—passed between lenders, tech vendors, and intermediaries. This exposes your confidential information to numerous massive, centralized servers, making it a prime target for hackers. Our Solution ?? Aster Key provides a channel for mainstream lenders, enabling consumers to bypass the initial application process and start their loans anonymously. ?? Empower Consumers: Our free and ultra-secure Aster Key app gives consumers control over their financial and personal data. Aster Key’s Security Features ?? Secure Storage: Financial data is encrypted and stored directly on the consumer's mobile phone, never on our servers. ?? Data Anonymization: Personally identifiable information is removed from financial data, which is then encrypted and stored separately. ?? Automated Verification: Financial data is updated and verified via end-to-end encrypted integrations with Plaid and Argyle. ?? Field-Level Encryption: We aim to encrypt each piece of financial data individually with changing keys, not just at the database level. Key Features for Consumers ?? Centralized view of all financial information for lifetime use. ?? Dynamically generated personal financial statements and proof of funds. ?? Single passphrase and biometric authentication for enhanced security. ?? Anonymous Communication: Protects email address when contacting lenders. ?? A private, ad-free environment. ?? Anonymous mortgage initiation. Additionally, the app allows you to create verified financial statements and self-serve automated proof of funds letters in the U.S. and several supported countries. Unlike other finance apps like NerdWallet or Credit Karma, Aster Key prioritizes data privacy and ownership, not marketing your data. We're embracing defi principles and have an on-chain, Web3 roadmap. Today, we turn your mobile phone into a decentralized node, a mainstream on-ramp to the future. As Product Hunters, you’re likely the tech-savvy person in your circle—whether at work or in your personal life. Together, we can protect people’s financial assets, and we’d love your feedback and support. ?? Thank you.

Aster Key is creating a new category of lending. Here's how Eric looks at it. @cybersecurity @mortgage Aster Key