Privacy Policy
Overview
This policy outlines how akasia collects, processes, and stores user data in a consistent manner across the company. Our privacy policy adheres to international standards and is compliant with KSA management and data protection framework, interim regulations issued by NDMO (the regulatory arm of SDAIA), SAMA's regulations and Cybersecurity framework, and the Capital Market Authority Institutions Regulations.
Introduction
akasia and its affiliates provide various financial services, including financial planning software, investment, and advisory services, and may offer other services in the future (collectively referred to as Services). Our Privacy Policy describes how we handle user data when using our website, mobile applications, and Services. For the purposes of this Privacy Policy, a User is an individual who creates an account on our Site or App to use our free financial planning software, open an investment account, or evaluate our Services. Our Privacy Policy, Terms and Conditions, collectively govern your use or evaluation of our Site, App, and Services.
Information Collection
The information we collect depends on whether you are a current or former User. Examples of when we collect Personal Information include: When you register to open an account as a User. When you contact our client service organization with questions. When you connect your bank account(s) with us. When you go through our Know Your Customer (KYC) process. When you open an investment account(s) with us. We collect Personal Information from Users, including but not limited to: Name, e-mail address, telephone number, zip code, Internet Protocol address, and birth date. Income information and other financial planning associated with those accounts you choose to link to our Services, any challenge and/or security questions associated with those accounts and any information contained in those accounts.
We endeavor to provide a link to this Privacy Policy and other relevant terms wherever we collect Personal Information. Information we collect when acting as a user’s authorized agent. Many akasia users choose to aggregate information from accounts at other financial institutions onto their dashboard on our Site or in our App. By linking your accounts, you provide akasia access to your Account Information, which may include prior and current account balances, transaction history, and holdings from linked financial institutions. We may use this information to formulate your financial projections and for research purposes. We work with third-party entities to verify your identity and collect KYC data. We do not have access to your login credentials used to link your third-party accounts, and any Account Information we have access to is read-only. We retain Account Information collected through consent-based account linking services in accordance with our recordkeeping requirements and as required in connection with the maintenance of your account and Services we provide to you. We do not share your Account Information with outside parties except in limited cases relating to fraud investigations or as required by law. If you choose to remove or revoke a link to an account with a third-party institution, we will not retrieve any new Account Information for that account unless you re-link that account in the future.
Information Regarding Children
Our Services are not made available to minors. akasia does not knowingly solicit Personal Information directly from or about persons under the age of 18. If you are under the age of 18, please do not submit any Personal Information to akasia. If a parent or guardian becomes aware that his or her child under the age of 18 has directly provided us with Personal Information without his or her consent, he or she should contact us at info@getakasia.comand we will delete such information from our files unless regulatory obligations prevent us from doing so.
Other ways we collect information.
We may collect information when you use our Services, such as your IP address, cookie identifiers, mobile carrier, mobile advertising, location information, and pages visited before, during, and after using the Services. We also collect anonymized or aggregated information, which is used for various purposes, including internal analysis and research. We use cookies and pixel tags to tailor the Site to you and to monitor the use of our Sites. We may also use third-party tracking technology, such as Google Analytics, to record information about you and your activity on our Site and App. We do not respond to Do Not Track signals and we do not knowingly authorize third parties to collect Personal Information about your online activities. We may contact you to participate in surveys and ask for your Personal Information.
How we use information
We use your Personal Information for a variety of business purposes, such as enhancing our Services, offering new products or services, and research. We use third-party vendors to verify your identity as part of the regulatory requirement to verify our user’s identity. We may access your personal information with the National Information Center. We may attempt to match your browsing activity on different devices or apps by analyzing your browsing patterns and combining your activity across devices. We may also use your Personal Information to communicate with you about our Services, and to send you promotional and marketing materials. We may share your Personal Information with third-party service providers who assist us with our business operations, such as payment processing, data analysis, and customer service. We may also share your Personal Information with regulatory authorities, as required by law. Security We take reasonable steps to protect the security of your Personal Information, including using industry-standard encryption technology to protect your sensitive data. We also have policies and procedures in place to limit access to your Personal Information to authorized personnel only. However, we cannot guarantee the absolute security of your Personal Information.
Changes to the Privacy Policy
We may update this Privacy Policy from time to time, and any changes will be effective immediately upon posting the updated policy on our Site. We encourage you to review this Privacy Policy periodically to stay informed about our data practices.
Contact Information
If you have any questions or concerns about our Privacy Policy or our data practices, please contact us at info@getakasia.com