Privacy Policy
Your privacy is fundamental to our mission. This policy explains how we collect, use, and protect your personal information when you use Magnett.
Last updated: July 15, 2025
Information We Collect
Personal Information
- Name, email address, phone number, and date of birth
- Government-issued identification numbers for verification
- Profile photos and biometric data for authentication
- Contact information and communication preferences
Financial Information
- Bank account details and transaction history
- Credit and debit card information
- Investment portfolio data and financial goals
- Income information and spending patterns
Technical Information
- Device information, IP address, and browser type
- App usage data and interaction patterns
- Location data when using our services
- Cookies and similar tracking technologies
How We Use Your Information
Service Provision
- Provide and maintain our financial automation services
- Process transactions and manage your accounts
- Generate AI-powered insights and recommendations
- Provide customer support and respond to inquiries
Security and Compliance
- Verify your identity and prevent fraud
- Comply with legal and regulatory requirements
- Monitor for suspicious activities and security threats
- Maintain audit trails for regulatory purposes
Improvement and Communication
- Improve our services and develop new features
- Send important updates about your account
- Provide marketing communications (with consent)
- Conduct research and analytics to enhance user experience
Information Sharing
With Your Consent
- Share information when you explicitly consent
- Connect with third-party financial services you choose
- Enable family sharing features when requested
- Participate in partner programs you opt into
Service Providers
- Cloud hosting and data storage providers
- Payment processors and financial institutions
- Identity verification and fraud prevention services
- Customer support and communication platforms
Legal Requirements
- Comply with court orders and legal processes
- Respond to government requests and investigations
- Protect our rights and prevent illegal activities
- Enforce our terms of service and user agreements
Data Security
Encryption and Protection
- All data encrypted using AES-256 encryption standards
- Secure transmission using TLS/SSL protocols
- Multi-factor authentication for account access
- Regular security audits and penetration testing
Access Controls
- Role-based access controls for our employees
- Regular access reviews and permission updates
- Secure development practices and code reviews
- Incident response procedures for security events
Data Centers
- ISO 27001 certified data centers
- 24/7 physical security and monitoring
- Redundant systems and backup procedures
- Geographic distribution for disaster recovery
Your Rights
You have control over your personal information
Access Your Data
Request a copy of all personal information we hold about you
Correct Information
Update or correct any inaccurate personal information
Delete Your Data
Request deletion of your personal information (subject to legal requirements)
Data Portability
Export your data in a machine-readable format
Restrict Processing
Limit how we process your personal information
Withdraw Consent
Withdraw consent for data processing where applicable
Questions About Your Privacy?
If you have any questions about this Privacy Policy or how we handle your data, please don't hesitate to contact our Data Protection Officer.
We will respond to all privacy-related inquiries within 30 days.