SiFi

Privacy Policy

Effective Date: October 26, 2023

At SiFi, located at Olaya Street, Riyadh, Saudi Arabia, we are committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our website, mobile applications, and other services (collectively, the "Services"). Our Data Protection Officer, Mr. Abdullah Al-Ghamdi, can be reached at privacy@sifi.sa.

1. Information We Collect

We collect several types of information from and about users of our Services, including:

• Personal Information: This includes information that can be used to identify you, such as your name, address, email address, phone number, national ID number (Iqama or Saudi National ID), date of birth, and financial information (e.g., bank account details, credit card information). We collect this information when you register for an account, use our services, or contact us for support.
• Usage Information: We collect information about how you use our Services, such as the pages you visit, the features you use, the dates and times of your visits, and the amount of time you spend using the Services. We also collect information about your device, including your IP address, device type, operating system, and browser type.
• Location Information: With your consent, we may collect information about your precise location when you use our mobile applications. We use this information to provide you with location-based services, such as identifying nearby ATMs or branch locations.
• Financial Information: As a fintech company, we handle sensitive financial data. This may include transaction history, investment portfolios, and credit scores. We are committed to protecting this information with the highest levels of security.

2. How We Use Your Information

We use the information we collect for various purposes, including:

• Providing and improving our Services: We use your information to provide you with the services you request, such as processing payments, managing investments, and providing financial consulting. We also use your information to improve our Services, such as by personalizing your experience, developing new features, and troubleshooting problems.
• Communicating with you: We use your information to communicate with you about your account, our Services, and other important updates. We may also use your information to send you marketing communications, such as newsletters and promotional offers. You can opt-out of receiving marketing communications at any time.
• Complying with legal obligations: We use your information to comply with applicable laws and regulations, such as anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
• Preventing fraud and abuse: We use your information to detect and prevent fraud and abuse of our Services.
• Personalized Financial Advice: With your consent, we may use your financial data to provide tailored investment advice and financial planning services.

3. How We Share Your Information

We may share your information with third parties in the following circumstances:

• Service Providers: We share your information with third-party service providers who help us provide our Services, such as payment processors, data analytics providers, and cloud hosting providers. These service providers are contractually obligated to protect your information and to use it only for the purposes for which we disclose it to them.
• Business Partners: We may share your information with business partners who offer products or services that may be of interest to you. We will only share your information with your consent.
• Legal Authorities: We may disclose your information to legal authorities if we are required to do so by law or legal process, such as a subpoena or court order.
• Business Transfers: If we are involved in a merger, acquisition, or sale of all or a portion of our assets, your information may be transferred as part of that transaction. We will notify you via email and/or a prominent notice on our website of any change in ownership or uses of your personal information, as well as any choices you may have regarding your personal information.

4. Data Security

We take reasonable measures to protect your information from unauthorized access, use, or disclosure. These measures include:

• Using encryption to protect your information when it is transmitted over the internet.
• Storing your information on secure servers.
• Limiting access to your information to authorized personnel only.
• Implementing regular security audits and vulnerability assessments.
• Utilizing multi-factor authentication for sensitive operations.

While we strive to protect your personal information, no method of transmission over the Internet or method of electronic storage is 100% secure.

5. Data Retention

We will retain your personal information for as long as necessary to fulfill the purposes outlined in this Privacy Policy, unless a longer retention period is required or permitted by law. Generally, we keep transactional data for a minimum of 5 years to comply with financial regulations in Saudi Arabia. You can request deletion of your account and associated data by contacting us at privacy@sifi.sa.

6. Your Rights

You have the following rights with respect to your personal information:

• The right to access your personal information.
• The right to correct your personal information.
• The right to delete your personal information.
• The right to restrict the processing of your personal information.
• The right to object to the processing of your personal information.
• The right to data portability.

To exercise these rights, please contact us at privacy@sifi.sa. We will respond to your request within 30 days.

7. Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to collect information about your use of our Services. Cookies are small text files that are stored on your device when you visit a website. We use cookies to personalize your experience, analyze trends, and administer our Services. See our Cookies Policy for more details.

8. Children's Privacy

Our Services are not intended for children under the age of 18. We do not knowingly collect personal information from children under the age of 18. If you are a parent or guardian and believe that your child has provided us with personal information, please contact us at privacy@sifi.sa.

9. Cross-Border Data Transfers

Your personal information may be transferred to and processed in countries other than Saudi Arabia. These countries may have data protection laws that are different from the laws of Saudi Arabia. We will take steps to ensure that your personal information is protected in accordance with this Privacy Policy, regardless of where it is processed.

For example, some of our cloud service providers may have servers located outside of Saudi Arabia. We ensure these providers comply with GDPR-level data protection standards.

10. Changes to this Privacy Policy

We may update this Privacy Policy from time to time. We will post any changes on our website and will notify you of any material changes by email. Your continued use of our Services after the effective date of the revised Privacy Policy constitutes your acceptance of the changes.

11. Contact Us

If you have any questions or concerns about this Privacy Policy, please contact us at:

SiFi
Olaya Street
Riyadh, Saudi Arabia
Phone: +966 892192663
Email: privacy@sifi.sa

12. Data Breach Notification

In the event of a data breach, SiFi is committed to promptly notifying affected users and the appropriate regulatory authorities, as required by applicable Saudi Arabian law. Our notification will include details about the nature of the breach, the potential impact on your personal information, and the steps we are taking to mitigate the damage and prevent future occurrences. We will provide clear instructions on how you can protect yourself, such as changing your passwords and monitoring your accounts for suspicious activity. We will also cooperate fully with any investigations conducted by regulatory bodies.

Website Accessibility Statement

SiFi is committed to ensuring digital accessibility for everyone. We are continually improving the user experience for all visitors, and applying the relevant accessibility standards. For more information, please see our Accessibility Statement.