This privacy policy (“PP”) describes how Finq Digital Ltd., and its affiliates ("Company") collect, use, store and share your (“User”) Personal Data in relation to Company's website (“Site”), digital services, as offered through the Site, and other related services (together, with the Site, the “Services”), in Company’s capacity as a controller. This PP and DPA (as defined below) constitutes an integral part of the Terms of Service available at: https://finqfinance.com/#/termsofuse (or any other customer agreement signed between the User and Company for the provision of the Services) (together with the PP the "Terms")
Applicability.
This PP does not apply to any products, services, websites, links or any other content that might be offered on the Services by third parties. User is advised to check the terms of use and privacy policies of such third parties.
Users are not under any legal obligation to submit Personal Data to Company. However, in case User chooses not to submit Personal Data to Company, User may not be able to become a User and/or use certain Services.
By attempting to use or access, or by using or accessing the Services, User agrees to be bound by the Terms. If User does not agree with the Terms, user must not use or access the Services.
Company may change this PP from time to time, therefore User should check back periodically. Company will post any changes to this PP on its Site. If Company makes any changes to this PP that materially affect Company's practices with regard to the Personal Data Company previously collected from User, Company will endeavor to provide User with notice in advance of such change by highlighting the change on the Site. Company will seek User's prior consent to any material changes, if and where this is required by Applicable Data Protection Laws (as defined in the Company’s Data Processing Agreement located: ("DPA”).User will be deemed to have accepted the PP, as amended, effective from the date of publication unless otherwise provided.
Terms used in this PP but not defined herein (whether or not capitalized) shall have the meanings assigned to such terms in the Terms of Service, DPA or in the Applicable Data Protection Laws, as applicable.
Personal Data collected by the Company.
Information provided by User.
Company may collect and retain any data User provides Company with, when interacting with the Company, including but not limited to:
User's contact details (e.g. name, postal address, email address, phone number);
User account information, including User password and other login or authentication and security credential information;
User profile Information that arises from User’s use of the Services such as investments or transactions made by User; User’s requests to transfer and/or receive funds via the Services, interests and needs User shares via the Services, Services requested and usage thereof;
User's characterization information, User provides by submitting characterization questionnaires when registering to certain parts of the Services, as further described below in Section 3 (“AI or Algorithm Based Technologies for Automated Decision Making”)
Subject to limitations imposed by applicable law, User’s identification information, including biometric data (e.g., a copy of User’s identification certificate which include, amongst others, facial photograph, full legal name, gender, date of birth, nationality, civil status, current address), and other government-issued identification numbers, tax information; User's health data (e.g., health declaration, disabilities, diseases, medicines, hospitalization) and such other information necessary to conduct due diligence and comply with applicable state and industry laws, such as anti-money loundering and other rules and regulations applicable to the Company.
User's financial information (e.g., credit card, bank account information source of funds, investment objectives, gross annual income, approximate net worth) and any other financial information about User’s assets, credit history and capacity, type of securities in User’s investment portfolio, investment style preference or otherwise required to ensure that the Services are suitable for User;
User’s relevant contact persons information (e.g., family members, beneficiaries, attorneys, attorneys-in-fact, shareholders, beneficial owners whenever applicable, persons under any trust, trustees, partners, committee members, directors, officers or authorized signatories, guarantors, other security and other individuals).
Any communication between User and the Company )e.g., emails, phone conversations, chat sessions, surveys, feedbacks or other promotional offers running on the Services.
Information We collect from Third Parties As User’s Authorized Representative:
Information retrieved from third parties’ financial organizations or platforms that User has provided us with access to (“External Financial Data”), subject to and in accordance with a separated and explicit consent permission designated form, duly signed by the User. External Financial Data may include for example, User’s prior and current account balances, User’s holdings in pension funds etc. The External Financial Data may be used by the Company for the purpose of providing the Users with the Services and for purposes consistent with this PP.
Information collected automatically.
Company automatically collects data when User visits, interacts with, or uses the Services, including but not limited to:
identifiers and information contained in cookies;
User's settings preferences, backup information;
Uniform Resource Locators (URL) clickstream to, through, and from Company's website and Services;
content User viewed or searched for, page response times, and page interaction information (such as scrolling, clicks, and mouse-overs);
network and connection information, such as the Internet protocol (IP) address and information about User's Internet service provider;
computer and device information, such as browser type and version, operating system, or time zone setting; the location of device;
Artificial Intelligence or Algorithm Based Technologies for Automated Decision Making.
By consenting to the Terms of Service and this PP, User also consents (i) to the Company’s collection and processing of User’s personal data via artificial intelligence or algorithm-based technologies; and (ii) that the personal data collected through such technologies may be used for identifying and/or profiling User, as described in the following description:
Such artificial intelligence or algorithm-based technologies create a financial profile of the User, by examining the User’s answers to the questionnaire User is required to complete, as part of User’s registration process to certain Services, and estimate, for example, the recommended level of risk for the User, and the recommended transaction/investment/product User might be interested in.
The Company does not use User’s personal data for automated decision making which produces legal effects concerning User or similarly significantly affects User. However, the Company does use User’s personal data to offer User content and Services which the Company believes may be of interest.
Company's Use of Personal Data.
The Company processes User's Personal Data for a variety of business purposes, such as, to operate, provide, and improve the Services, including but not limited to:
Preforming automated processing of the User’s personal data to create a user profiling for the purpose of personalizing the Services, i.e., identifying User's interests and recommending offers that might be of interest to User (e.g., by evaluating certain user aspects, analyzing or predicting a User’s economic situation, health, personal preferences, interests, reliability, behavior).
creating and managing User account and profiles;
verifying the identity or authority of User and its relevant contact persons or representatives;
contacting User by the Company and communicating with User with respect to the Services, e.g. by phone, email, chat; responding inquiries from User;
informing User about updates or offers;
marketing and promoting Company's Services;
providing assistance and support;
fulfilling User requests; meeting contractual or legal obligations and statutory requirements (e.g., to provide the requisite Services, to ensure due diligence and regulatory compliance);
protecting Users security, e.g. preventing and detecting fraud;
enhancing the Services and for internal research and internal analysis purposes, e.g. trouble shooting, data analysis, testing and statistical purposes (for example, User behavioral data and interactions with the Services might be analyzed, for improvement and development of the Services.
We analyze transactional data performed through our third-party service providers and partners in order to determine how we can jointly improve our products and services for you).
The Company may ask for User's consent to use User's personal data for a specific purpose which will be provided to User.
Cookies & Third-Parties Services.
The Company may use tracking mechanisms such as cookies on the Services so that the Company may:
facilitate and customize the User's experience of the Services;
track User's use of the Services.
A cookie is a small text file that is stored on a User’s computer for record-keeping purposes which contains information about that User. Most browsers automatically accept cookies, but User may be able to modify its browser settings to decline cookies. Please note that if User declines or deletes these cookies, some parts of the Site may not work properly. This PP does not apply to any products, services, websites, links or any other content that may be offered by third parties on the Services (e.g, articles).
By clicking on a link to a third-party website or service on the Services, a third party may also transmit cookies to User. This PP does not cover the use of cookies by any third parties, and the Company is not responsible for such third parties' privacy policies and practices. The Company does not have any control over any third parties' privacy practices, or the technology used by any third parties in order to collect any personal data. Each User is advised to thoroughly review such third parties' privacy policies before making any use of such third party's products and services.
When clicking on certain social media links provided on the Services (e.g. Facebook, Instagram, WhatsApp) User will be transferred to the Company's sites on such social media ("Social Media Sites"). It shall hereby be clarified that such Social Media Sites are governed by the terms of use and privacy policy of the respective social media and not by the Company.
The Company uses Google Analytics to collect information about the use of our Services. Google Analytics collects information such as how often you visit the Services, which pages you visited when doing so, and which other sites they used prior to coming to our Services. Google’s ability to use and share information collected by Google Analytics about your visits to and use of the Services is restricted by the Google Analytics Terms of Service located here: https://marketingplatform.google.com/about/analytics/terms/us/, and the Google Privacy Policy located here: www.google.com/policies/privacy, in order to find out how Google Analytics collects and processes data.
Sharing Personal Data of User.
Company may be required to retain or disclose personal information in order to:
comply with applicable laws or regulations and contractual obligations with other financial institutions (including disclosure to fund managers, portfolio service providers) government entities, other regulatory authorities, and financial institutions; Anti-Money Laundering
comply with a court order, subpoena or other legal process;
respond to a lawful request by a government authority, law enforcement agency or similar government body (whether situated in User's jurisdiction or elsewhere);
The Company may share Personal Data with its affiliated entities in connection with the provision of Services.
engage with third-party service providers and/or sub-contractors which provide services for Company's business operations, a list of which can be received upon request (such as service providers for data processing and hosting, payment processing, IT, marketing consultancy services; identification verification and fraud detection; customer support, AI tools systems, messaging services).
disclose to third parties aggregated or de-identified information about Users for marketing, advertising, research, or other purposes;
disclose and/or transfer data to another entity if Company is acquired by or merged with another company, if Company sells or transfer a business unit or assets to another company, as part of a bankruptcy proceeding, or as part of any other similar business transfer;
Company believes release is appropriate to comply with the law, enforce or apply Company's terms and other agreements, or protect the rights, property, or security of Company, Users, or others. This includes exchanging information with other companies and organizations for fraud prevention and detection and credit risk reduction.
When Company shares User's data with third parties as specified above, Company requires such recipients to agree to only use the Personal Data Company shares with them in accordance with this PP and Company's contractual specifications and for no other purpose than those determined by Company in line with this Privacy Policy.
Database Registration. Certain personal data processed by us is stored in database no. 700071406 at the Israeli Registrar of Databases. You are advised, however, that we are under no obligation to maintain any information, and that you must not rely on our databases as a backup option.
Direct Mailing; Advertisement.
The Company may provide Users with direct marketing, as such term is defined in the Israeli Protection of Privacy Law, 5741-1981 (the "PPL"). We may also send you advertisements, as such term is defined in the Israeli Media Law (Bezeq and Broadcasting), 1982. You can opt out of receiving these direct marketing communications and/or advertisements from us at any time by unsubscribing using the unsubscribe link within each communication, or by emailing us at: Hello@finqfinance.com.
Security.
Company has taken appropriate technical and organizational measures to protect the information Company collects about User from loss, misuse, unauthorized access, disclosure, alteration, destruction, and any other form of unauthorized processing. User should be aware, however, that no data security measures can guarantee 100% security.
Data Location.
Company currently maintains, stores and processes Personal Data in the following jurisdictions: Israel, US and Europe and other locations as reasonably necessary for the proper performance and delivery of the Services (for example, in those locations where the Company’s contracted service providers are storing or processing the Personal Data), or as may be required by applicable law. Each User hereby gives User's consent to such transfer, processing, and storage of User's Personal Data outside its jurisdiction.
Data protection and privacy laws may vary between jurisdictions, nevertheless, the Company will comply with reasonable industry standards, and apply such appropriate lawful mechanisms and contractual terms as required to ensure adequate protection of the Users’ Personal Data, as set forth in this PP. For data transfers from the EEA or the UK to countries which are not considered to be offering an adequate level of data protection, Company (and anyone acting on its behalf) have entered into Standard Contractual Clauses, as applicable.
Data Retention.
Company may retain certain Personal Data of Users as long as reasonably required for the following purposes, at Company’s sole discretion: (i) to preserve the relationship with Users; (ii) to provide Users with the Services; (iii) to comply with Company’s legal or contractual obligations; (iv) to protect Company from any potential disputes; (v) to conduct audits; or (vi) as otherwise required to comply with contracts and comply with all applicable laws.
Data Subject Rights.
Users are entitled to review the personal data held in the database about you, and if you find that such personal data is incorrect, incomplete, unclear or not up-to-date you may contact us and request that the personal data be amended or deleted by sending an email to: Hello@finqfinance.com.
Users in The European Economic Area (EEA).
Legal Basis for Processing of Personal Data
The Company will only process User's Personal Data if it has one or more of the following legal bases for doing so:
Contractual Necessity: processing of Personal Data is necessary to enter into a contract with User, to perform Company's contractual obligations to User under the Terms of Service, to provide the Services, to respond to requests from User, or to provide User with customer support;
Legitimate Interest: Company has a legitimate interest to process User's Personal Data;
Legal Obligation: processing of User's Personal Data is necessary to comply with relevant law and legal obligations, including to respond to lawful requests and orders; or
Consent: processing of User's Personal Data with User's consent.
User's Rights regarding Personal Data.
Subject to Applicable Data Protection Laws, User has certain rights with respect to User's Personal Data, including the following:
User may ask whether Company holds Personal Data about User and request copies of such Personal Data and information about how it is processed;
User may request that inaccurate Personal Data is corrected;
User may request the deletion of certain Personal Data;
User may request the Company to cease or restrict the processing of Personal Data where the processing is inappropriate;
User may object to an automated decision making (including profiling) in certain circumstances.
When User consents to processing User's Personal Data for a specified purpose by Company, User may withdraw User's consent at any time, and Company will stop any further processing of User's data for that purpose.
In certain circumstances, Company may not be able to fully comply with User's request, such as if it is frivolous or extremely impractical, if it jeopardizes the rights of others, or if it is not required by law, however, in those circumstances, Company will still respond to notify User of such a decision.
User can exercise User's rights of access, rectification, erasure, restriction, objection, and data portability by contacting the Company at: Hello@finqfinance.com. In some cases, Company may need User to provide Company with additional information, which may include Personal Data, if necessary to verify User's identity and the nature of User's request.
Transfer of User's Personal Data outside of the EEA
The data that the Company processes in relation to Users may be transferred to, and stored at a destination outside the European Economic Area (“EEA“), e.g. Israel, that may not be subject to equivalent data protection law. It may also be processed by staff situated outside the EEA who works for us or for one of our service providers:
In order to store it.
Where we are legally required to do so.
In order to facilitate the operation of our businesses, where it is in our legitimate interests and we have concluded these are not overridden by User's rights.
Where Personal Data is transferred by the Company or its affiliates in relation to providing the Services, the Company will take all steps reasonably necessary to ensure that it is subject to appropriate safeguards, such as relying on a recognized legal adequacy mechanism, which may include by entering into European Commission approved standard contractual clauses relevant to transfers of Personal Data and that it is treated securely and in accordance with this PP.
USERS IN CALIFORNIA, USA
To the extent the California Consumer Privacy Act of 2018, Cal. Civ. Code 1798.100 et seq. ("CCPA"), including any subordinate or implementing legislation, is applicable the following shall apply:
The Company will only process personal information on User's behalf.
The Company will (i) not collect, retain, use, or disclose personal information for any purpose other than for the specific purposes set out in the Company Privacy Policy, and the DPA between Company and User; (ii) not sell Personal Data (as defined under the CCPA); and (iii) put in place appropriate technical and organizational measures to protect personal information against unauthorized or unlawful processing or accidental destruction, loss or damage.
Personal Data of Children.
The Company's Services are not intended for children. Children under 18 years of age, may use the Services only with the involvement of a parent or guardian.
Questions regarding User's Personal Data?
If User has any questions about this Privacy Policy or Company data practices generally, please contact us using the following information:
Finq Digital Ltd.
Email: Hello@FINQFINANCE.COM
Last update: July 2023.