Privacy Policy

Last Updated: February 15, 2024

This Privacy Policy describes how Cheto ("we," "our," or "us") collects, uses, and shares your personal information in connection with our AI-powered personal finance management service. Please read this policy carefully to understand our practices regarding your personal data.

1. Information We Collect

1.1 Account Information

When you create an account, we collect basic information such as your email address, name, and encrypted password. We may also collect optional profile information that you choose to provide.

1.2 Financial Information

Through our integration with Plaid, we collect financial data including:

Account balances and transaction history
Account types and financial institution information
Investment holdings and performance data
Income and expense patterns
Recurring bill payments and subscriptions

1.3 Usage Data

We collect information about how you interact with our service:

Feature usage and preferences
Time spent in different sections of the app
Interaction with AI recommendations
Custom categories and rules you create
Notification preferences and interactions

2. Financial Data Processing

2.1 Plaid Integration

Our partnership with Plaid enables secure access to your financial data. Key aspects of this integration include:

Bank-level encryption for all data transfers
Secure credential handling through Plaid's authentication flow
Regular reauthorization requirements for security
Option to manage connected accounts through Plaid's portal

2.2 Data Storage

All financial data is stored in secure, encrypted databases with strict access controls. We use industry-leading cloud providers that maintain SOC2 Type II compliance and implement multiple layers of security controls.

2.3 Data Retention

We retain your financial data for as long as necessary to provide our services and comply with legal obligations. You can request data deletion at any time, subject to regulatory requirements.

3. How We Use Your Information

Your data is used to:

Generate personalized financial insights and recommendations
Train our AI models to improve service accuracy (using anonymized data)
Detect and prevent fraudulent activity
Communicate service updates and relevant financial information
Comply with legal obligations and regulatory requirements

4. Data Sharing and Third Parties

We share your information only with:

Plaid - to connect and sync your financial accounts
Cloud service providers - for secure data storage and processing
Analytics partners - to improve our service (using anonymized data)
Legal authorities - when required by law or to protect rights

We never sell your personal or financial data to third parties.

5. Your Privacy Rights

You have the right to:

Access your personal data
Correct inaccurate information
Delete your account and associated data
Export your data in a portable format
Opt-out of non-essential data processing
Disconnect financial institutions through Plaid

6. Security Measures

We protect your data through:

End-to-end encryption for data transmission
Regular security audits and penetration testing
Multi-factor authentication options
Employee access controls and security training
Automated threat detection and prevention systems

7. Contact Information

For privacy-related concerns or to exercise your rights, contact our Data Protection Officer at privacy@cheto.com or through our support portal.

8. Updates to This Policy

We may update this Privacy Policy from time to time to reflect changes in our practices or for legal, operational, or regulatory reasons. When we make material changes, we will:

Notify you through the app or via email before changes take effect
Update the "Last Updated" date at the top of this policy
Provide a summary of key changes
Obtain consent where required by law

By using Cheto, you agree to the terms of this Privacy Policy. If you have any questions or concerns, please contact our Data Protection Officer at privacy@cheto.com.