From OpenLedger’s knowledge base, defining the difference between wallet and account (cloud-based) models at https://openledger.freshdesk.com/support/solutions/articles/33000202644-what-are-the-differences-between-account-and-wallet-model-

“Being more secure than the account model, the wallet model is restricted to your current browser and device. To use the wallet in another browser or device, you need to import the wallet backup file or brainkey.”

This seems to confirm my earlier statement on security of the local wallet. I have not found anything else out yet.