Privacy Policy

1. Who We Are

Banksee Financial Insights ("Banksee", "we", "us", "our") is a South African technology company operating the financial analysis platform available at this website. We are the Responsible Party as defined under POPIA for the personal information you provide to us.

Contact for privacy matters: privacy@banksee.co.za

2. Information We Collect

2.1 Information You Provide Directly

• Account information: Name, email address, and password when you register.
• Bank statements: PDF or CSV files you upload. These contain transaction data, account numbers (partial), dates, amounts, and merchant descriptions.
• Financial inputs: Debt amounts, savings goals, and budget targets you manually enter.
• Support communications: Information you share when contacting our support team.

2.2 Information Collected Automatically

• IP address and browser/device information for security and fraud prevention
• Usage data (pages visited, features used) to improve the Service
• Session information managed via encrypted cookies

3. How We Use Your Information

We use your information only for the following legitimate purposes:

• To provide, operate, and improve the Banksee platform
• To analyse and categorise your uploaded bank statement transactions
• To generate financial dashboards, budgets, and insights for your personal use
• To process subscription payments securely via PayFast
• To send you service-related communications (e.g., account alerts, billing confirmations)
• To respond to support and enquiry requests
• To maintain security and prevent fraudulent use of the platform
• To comply with our legal obligations under South African law

We will never use your financial data for advertising profiling, algorithmic scoring for credit decisions, or sale to third parties.

4. Data Storage & Security

We take the security of your financial data extremely seriously.

• Encryption at rest: All bank statement data and personal information is stored using AES-256 encryption.
• Encryption in transit: All data transmitted between your browser and our servers uses TLS (HTTPS) encryption.
• No credential storage: We never request or store your internet banking username or password. We are a file-upload only platform.
• Access controls: Only authorised personnel can access system infrastructure, and your data is isolated per user account.
• Regular security reviews: We conduct periodic security audits and vulnerability assessments.

While we take industry-standard precautions, no method of electronic transmission or storage is 100% secure. We encourage you to use a strong, unique password for your Banksee account.

5. Sharing of Your Data

We do not sell, rent, or trade your personal or financial information to any third party. We may share information only in the following limited circumstances:

• Service providers: Trusted third-party providers who assist in delivering the Service (e.g., cloud hosting, AI API providers), bound by strict data processing agreements.
• Payment processing: PayFast receives billing information necessary to process your subscription payment. Banksee does not receive or store your card details.
• Legal requirements: Where required by South African law, a court order, or government authority, we may be compelled to disclose information.
• Business transfers: In the event of a merger or acquisition, your data may be transferred to the successor entity, who must honour these privacy commitments.

6. Third-Party Services

Banksee uses the following third-party services that may process your data as necessary to operate the platform:

• OpenAI / AI Providers: AI models process anonymised transaction descriptions to generate categorisation and insights. We use these APIs under strict data processing terms.
• PayFast: South African-registered payment gateway for subscription billing.
• Cloud Infrastructure: Secure hosting infrastructure for platform availability.

These providers are contractually bound to use your data only as necessary to provide their services to us, and must maintain appropriate security measures.

7. Data Retention

We retain your personal information and uploaded bank statements for as long as your account is active, or as needed to provide the Service. If you cancel your account, we will delete your data within 30 days, unless we are legally required to retain it for longer.

You may request earlier deletion of your data at any time by contacting privacy@banksee.co.za.

8. Your Rights Under POPIA

As a data subject under POPIA, you have the following rights regarding your personal information:

To exercise any of these rights, contact us at privacy@banksee.co.za. We will respond within 30 days as required by POPIA.

You also have the right to lodge a complaint with the Information Regulator: www.justice.gov.za/inforeg/

9. Cookies

Banksee uses session cookies to manage your login state securely. These are strictly necessary for the platform to function and do not contain any financial data. We do not use third-party advertising or tracking cookies.

10. Children's Privacy

Banksee is not intended for persons under the age of 18. We do not knowingly collect personal information from minors. If you believe a minor has created an account, please contact us immediately at privacy@banksee.co.za.

11. Changes to This Policy

We may update this Privacy Policy periodically. Material changes will be communicated via email or a prominent notice on the platform. Your continued use of Banksee after such changes constitutes acceptance of the updated policy. We encourage you to review this page periodically.

12. Contact & Complaints

For any privacy-related questions, requests, or concerns:

📧 Email: privacy@banksee.co.za
🌐 Web: Contact Form

If you are not satisfied with our response, you have the right to escalate to the Information Regulator of South Africa.