Business Banking: The 3rd Party Issue is Getting Ugly

Damn damn damn!

See the problem with 3rd parties is that they can be hacked.

Any company really, but if you’re going to hack a company why not a small bank.

If we don’t read the terms and conditions we know nothing.

I think folks in finance should drop the terms into an AI Assistant (ChatGPT, Gemini, Claude.AI or Grok) and the terms of their 3rd parties.

I’m a bookkeeper so I pay bills.

I’m seeing more vendors forcing the 3rd party banking issue and they are fools to give their banking information to a 3rd party.

Even though you can’t trust the USPS as much anymore, I’m going back to old school for any company that has a 3rd party and mail them a check.

Let ’em cringe with that piece of paper!

Since I control how vendors get paid, I’m not giving up my clients banking info unless they insist.

My clients know I have a tech background and just wrote a scam book.

I know a little bit (a lot actually) how scams and fraud work in finance.

The noose is getting tighter around our necks.

Don’t rush to give your banking information to a company just because a 3rd party ask for it.

Bookkeepers, accountants and CPA’s this is how AI will separate us.

Those in finance that know how to use an AI Assistant (ChatGPT, Gemini, Claude.AI or Grok) will be ok and those that don’t…well there’s no reason not to.

Anyway the companies that are laying off people in finance thinking they will save a few dollars (and put it in their pockets as a profit) will quickly see that you still need a human in the mix!

When they talk about AI taking jobs (coders and tech bros) they are primarily talking about AI Assistant (ChatGPT, Gemini, Claude.AI or Grok) giving owners the data they need but someone has to give the data to the AI Assistant.

Business Owners will always need to keep a human in the mix.

Just sayin’