Privacy Policy

Finansist AI, Inc. ("Company", "we", "us", or "our") operates the Finansist AI-based reconciliation and financial data platform (the "Platform" or "Service"). This Privacy Policy explains how we collect, use, disclose, retain, and protect personal data in connection with the Platform and our business operations.

By accessing or using the Platform, you acknowledge that you have read and understood this Privacy Policy. If you are accessing the Platform on behalf of an organization, you represent that you are authorized to accept this Privacy Policy on its behalf.

We may collect the following categories of data in connection with the Platform:

• Account and contact information: name, email address, job title, company name, and other details provided when creating an account or contacting us.
• User Data: financial records, invoice data, payment data, ERP exports, email content, supplier and customer information, and other business data uploaded or connected to the Platform by the User.
• Usage and technical data: IP addresses, browser type, device identifiers, log data, pages visited, features used, session duration, and similar technical information collected automatically when you use the Platform.
• Communications: messages, support requests, feedback, and correspondence you send to us.
• Payment information: billing details and transaction records required to process subscription fees, handled through our payment providers.

We use the data we collect for the following purposes:

• to provide, operate, maintain, secure, and improve the Platform and its features;
• to process User Data through AI systems for the purpose of delivering reconciliation, invoice detection, financial analysis, and related outputs;
• to manage accounts, subscriptions, billing, and customer support;
• to communicate with you about the Platform, including updates, security notices, and administrative messages;
• to analyze usage patterns and Platform performance using anonymized and aggregated data;
• to comply with applicable laws, regulations, legal obligations, and court orders;
• to detect, investigate, and prevent fraud, security incidents, and unauthorized access.

We do not use User Data to train, fine-tune, or improve our own AI models, whether for the User, for other customers, or for general model development. We may use anonymized and aggregated data for analytics, product development, and service optimization, provided that such data does not identify any individual or organization.

Where applicable data protection law requires a legal basis for processing Personal Data, we rely on the following:

• Contract performance: processing necessary to provide the Platform and fulfill our obligations to Users.
• Legitimate interests: processing for fraud prevention, security, analytics, and improving our services, where such interests are not overridden by your rights.
• Legal obligation: processing required to comply with applicable laws and regulations.
• Consent: where we have obtained your consent for specific processing activities, such as marketing communications.

We do not sell Personal Data. We may share data with the following categories of recipients:

• Service providers and subprocessors: third-party providers that assist us in operating the Platform, including cloud hosting providers, AI infrastructure providers, email providers, analytics services, and payment processors. These providers process data on our behalf and are bound by appropriate data protection obligations. We maintain a list of current subprocessors and will notify Users of any material changes to that list by email to the address on file at least 30 days before the change takes effect.
• Third-party AI providers: where the Platform relies on third-party AI services to deliver functionality, such providers may process User Data in accordance with their own terms and policies. We take reasonable steps to use providers that offer appropriate data protection safeguards.
• Business transfers: in connection with a merger, acquisition, sale of assets, financing, or similar transaction, data may be transferred as part of that transaction, subject to appropriate confidentiality protections.
• Legal and regulatory: where required by law, court order, regulator, or governmental authority, or where necessary to protect our rights, property, or safety, or that of others.

The Platform is operated from Israel, which is recognized by the European Commission as providing an adequate level of data protection for Personal Data transferred from the European Economic Area.

Where we transfer Personal Data to countries or service providers outside of Israel or the EEA that do not benefit from an adequacy decision, we implement appropriate safeguards, such as standard contractual clauses or binding corporate rules, in accordance with applicable law.

We retain Personal Data and User Data for as long as necessary to provide the Platform, fulfill the purposes described in this Privacy Policy, comply with legal and contractual obligations, resolve disputes, and enforce our agreements. The following specific retention periods apply to each category of data:

• Account data (name, email, account settings): retained for the duration of the active account and deleted within 90 days of account closure.
• Customer files and outputs (uploaded documents, reconciliation results, AI-generated outputs): retained for the duration of the active subscription and deleted within 60 days of subscription termination.
• Logs and security records (access logs, audit trails, security events): retained for 12 months from the date of collection.
• Support communications (emails, chat transcripts, support tickets): retained for 3 years from the date of the last interaction.
• Billing and legal records (invoices, payment records, contracts): retained for 7 years from the date of the relevant transaction or agreement, as required by applicable financial and tax regulations.
• Backups: encrypted backups are retained for up to 90 days, after which they are purged on a rolling basis.

Upon termination of the Service, we will provide the User with access to data stored within the Platform for a period of up to two (2) months from the date of termination, after which we may delete such data from our systems, subject to applicable legal retention requirements, backup cycles, and security obligations.

Certain categories of data, such as transaction logs, financial records, and compliance data, may be retained for longer periods as required by applicable law.

We implement commercially reasonable technical and organizational security measures designed to protect Personal Data and User Data against unauthorized access, disclosure, alteration, destruction, and loss. These measures include encryption in transit and at rest, access controls, authentication requirements, and regular security reviews.

No method of transmission over the internet or electronic storage is completely secure. While we strive to protect your data, we cannot guarantee absolute security. In the event of a data breach that is likely to result in a risk to individuals, we will notify affected parties and relevant authorities in accordance with applicable law.

Depending on your location and the applicable data protection law, you may have the following rights with respect to your Personal Data:

• Access: the right to obtain confirmation of whether we process your Personal Data and to receive a copy of it.
• Rectification: the right to request correction of inaccurate or incomplete Personal Data.
• Erasure: the right to request deletion of your Personal Data in certain circumstances.
• Restriction: the right to request that we restrict processing of your Personal Data in certain circumstances.
• Portability: the right to receive your Personal Data in a structured, commonly used, machine-readable format.
• Objection: the right to object to processing of your Personal Data based on legitimate interests.
• Withdrawal of consent: where processing is based on your consent, the right to withdraw consent at any time without affecting the lawfulness of prior processing.

To exercise any of these rights, please contact us at [email protected]. We will respond to your request within the timeframes required by applicable law. We may need to verify your identity before fulfilling your request.

We may use cookies, web beacons, and similar tracking technologies to operate and improve the Platform, analyze usage, remember your preferences, and provide a better user experience.

You can control the use of cookies through your browser settings. Disabling certain cookies may affect the functionality of the Platform.

The Platform may contain links to third-party websites, services, or integrations. This Privacy Policy does not apply to third-party services, and we are not responsible for their privacy practices. We encourage you to review the privacy policies of any third-party services you access through or in connection with the Platform.

The Platform is not directed to individuals under the age of 18. We do not knowingly collect Personal Data from minors. If you believe we have inadvertently collected data from a minor, please contact us and we will take steps to delete such data.

We may update this Privacy Policy from time to time to reflect changes in our practices, the Platform, or applicable law. The updated version will be made available through the Platform or our website with a revised effective date.

Where required by applicable law, we will provide notice of material changes. Your continued use of the Platform after the effective date of any update constitutes acceptance of the revised Privacy Policy.

If you have questions, concerns, or requests relating to this Privacy Policy or our data practices, please contact us at:

Finansist AI, Inc.

[email protected]

For legal notices, please also send a copy to [email protected]