Privacy Notice
Last Updated: October 26, 2023
Welcome to [Your Company Name]! We are committed to protecting your privacy and ensuring the security of your personal and financial information. This Privacy Notice explains how we collect, use, disclose, and safeguard your information when you use our website and services.
1. Information We Collect
We collect various types of information to provide and improve our services, which include linking bank accounts, tracking expenses, forecasting savings, and delivering AI-driven investment advice.
1.1. Information You Provide Directly
- Account Registration Data: When you create an account, we collect your name, email address, password, and potentially your phone number.
- Profile Information: Any additional information you choose to provide, such as demographic data or financial goals.
- Communication Data: Information you provide when you contact us for support, send feedback, or participate in surveys.
1.2. Information We Collect from Financial Institutions
To provide our core services, we integrate with third-party financial data providers (e.g., Plaid). Through these integrations, with your explicit consent, we may access and collect the following types of financial data:
- Account Information: Bank account numbers, routing numbers, account balances, account types (e.g., checking, savings, credit card, investment).
- Transaction Data: Transaction history, merchant information, transaction amounts, dates, and categories.
- Investment Data: Holdings, portfolio value, and historical performance from linked investment accounts.
Note: We do not store your financial institution login credentials on our servers. All sensitive authentication is handled directly by our financial data provider partners.
1.3. Automatically Collected Information
- Usage Data: Information about how you interact with our service, such as pages visited, features used, time spent on the website, and clickstream data.
- Device Information: IP address, browser type, operating system, unique device identifiers, and mobile network information.
- Cookies and Tracking Technologies: We use cookies, web beacons, and similar technologies to enhance user experience, analyze trends, administer the website, and gather demographic information.
2. How We Use Your Information
We use the collected information for various purposes, primarily to deliver and improve our services:
- Service Provision: To link your bank accounts and investments, track expenses, generate spending reports, forecast savings, and provide personalized financial insights.
- AI-Driven Advice: To power our AI algorithms for investment advice, financial planning recommendations, and personalized budgeting tips.
- Account Management: To manage your account, authenticate users, and provide customer support.
- Personalization: To personalize your experience and present tailored content and offers.
- Improvement and Development: To understand how users interact with our service, perform analytics, research, and improve our existing features and develop new ones.
- Security and Fraud Prevention: To protect against fraudulent or unauthorized transactions, enforce our terms of service, and ensure the security of our platform.
- Communication: To send you service-related notifications, updates, security alerts, and support messages. With your consent, we may also send promotional communications.
- Legal Compliance: To comply with applicable laws, regulations, and legal processes.
3. How We Share Your Information
We do not sell your personal or financial information to third parties. We may share your information only in the following limited circumstances:
- With Your Consent: We may share your information with third parties when we have your explicit consent to do so.
- Financial Data Providers: We share necessary information with partners like Plaid to facilitate the connection to your financial institutions. They process your data according to their own privacy policies.
- Service Providers: We engage third-party service providers to perform functions on our behalf, such as cloud hosting, analytics, customer support, and email delivery. These providers are obligated to protect your information and use it only for the purposes for which it was disclosed.
- Legal Requirements: We may disclose your information if required to do so by law or in the good faith belief that such action is necessary to comply with legal obligations, protect our rights or property, or ensure the safety of our users or the public.
- Business Transfers: In the event of a merger, acquisition, or sale of all or a portion of our assets, your information may be transferred as part of that transaction.
- Aggregated or Anonymized Data: We may share aggregated or anonymized data (which cannot be used to identify you personally) with third parties for research, marketing, analytics, or other business purposes.
4. Data Security
We implement robust technical, administrative, and physical security measures designed to protect your personal and financial information from unauthorized access, disclosure, alteration, and destruction. These measures include, but are not limited to:
- Encryption: Data is encrypted both in transit (using TLS/SSL) and at rest.
- Access Controls: Strict access controls and authentication mechanisms are in place to limit access to your data only to authorized personnel who need it to perform their job functions.
- Regular Audits: We conduct regular security audits and vulnerability assessments.
- Vendor Security: We carefully vet our third-party service providers to ensure they adhere to high security standards.
Despite our efforts, no security system is impenetrable. We cannot guarantee the absolute security of your information.
5. Data Retention
We retain your personal information for as long as your account is active or as needed to provide you services, comply with our legal obligations, resolve disputes, and enforce our agreements. If you close your account, we may retain certain information for a limited period to comply with legal requirements, prevent fraud, or for legitimate business purposes.
6. Your Choices and Rights
You have certain rights regarding your personal information:
- Account Information: You can review and update your account information by logging into your account settings.
- Opt-Out of Communications: You can opt-out of receiving promotional emails from us by following the unsubscribe instructions provided in those emails. Even if you opt out, we may still send you non-promotional communications, such as those about your account or our ongoing business relations.
- Access and Deletion: You may have the right to request access to or deletion of your personal information, subject to certain exceptions. Please contact us to exercise these rights.
- Unlinking Financial Accounts: You can unlink your financial accounts at any time through your account settings. Please note that unlinking an account may limit the functionality of certain services.
7. Children's Privacy
Our services are not intended for individuals under the age of 18. We do not knowingly collect personal information from children under 18. If we become aware that we have collected personal information from a child under 18 without parental consent, we will take steps to delete that information.
8. Third-Party Links
Our website may contain links to third-party websites or services that are not owned or controlled by [Your Company Name]. This Privacy Notice does not apply to such third-party sites. We encourage you to review the privacy policies of any third-party sites you visit.
9. Changes to This Privacy Notice
We may update this Privacy Notice from time to time to reflect changes in our practices or for other operational, legal, or regulatory reasons. We will notify you of any material changes by posting the new Privacy Notice on this page and updating the "Last Updated" date. We encourage you to review this Privacy Notice periodically.
10. Contact Us
If you have any questions or concerns about this Privacy Notice or our data practices, please contact us at:
Email: privacy@[yourcompany.com]Address: [Your Company Address Placeholder, e.g., 123 Financial Way, Fintech City, FN 00000]