Thank you for choosing to be part of our community at ElektraFi Solutions Inc. (“we”, “us”, or “our”), a financial wellness platform that delivers personalized guidance and tools to help people improve their financial outcomes.
This privacy policy applies to all information collected through our website https://elektrafi.io/, and/or any related services, sales, marketing or events (we refer to them collectively in this privacy policy as the “Services”).
Your privacy matters to us. This privacy policy tells you, in plain language, what personal information we collect, why we collect it, how we protect it, and what rights you have over it. It applies to all individuals whose personal information we handle, wherever they are located to access and use our Services.
We are not responsible for any third-party links that may be on our website or for how such third party collects, uses, discloses, or retains personal information and you should check their respective privacy policies prior to using such sites.
When you sign up for our Services, you trust us with your personal information. We take your privacy very seriously. By signing up to our Services, you are consenting to our collection and use of your personal information for the purposes described in this privacy policy. You may withdraw your consent at any time by contacting our Privacy Officer at privacy@elektrafi.io. We will inform you of the consequences of withdrawal (for example, we may be unable to continue responding to your inquiry) and act promptly on your request. Withdrawal of consent does not affect the lawfulness of any processing of personal information carried out before withdrawal.
We hope you take some time to read through this privacy policy carefully, as it is important. If there are any terms in this privacy policy that you do not agree with, please discontinue use of our Services.
You have the following rights over your personal information. To exercise any of these rights, contact our Privacy Officer using the details at the end of this privacy policy:
Right to be informed
We will tell you what personal information we are collecting, why, and how it will be used — before or at the time of collection.
Right to consent and withdraw consent
Where we rely on your consent to collect or use your personal information, you may withdraw that consent at any time. We will stop using your information for that purpose promptly, unless we are legally required to retain it.
Right of access
You may request access to the personal information we hold about you. We will respond within 30 calendar days and provide you with a copy of your information in a clear, accessible format.
Right to correction
If the personal information we hold about you is inaccurate or incomplete, you have the right to ask us to correct it. We will make corrections or, where we disagree, note your request in your file.
Right to erasure
In certain circumstances, you may ask us to delete your personal information. We will do so unless we are legally obligated to keep it or it is necessary for an ongoing legal proceeding.
Right to data portability
Where technically feasible, you may request a copy of your personal information in a portable, machine-readable format, so you can transfer it to another organization.
Right to object to automated decisions
If a significant decision about you is made solely by automated means (with no human involvement), you have the right to be told, to request a human review, and to receive an explanation of how the decision was made.
How to exercise your rights
Contact our Privacy Officer at privacy@elektrafi.io or #204 1965 W 4th Avenue, Vancouver, BC V6J 1M6 Canada. We do not charge a fee for access requests. We will verify your identity before releasing any information. If you are unsatisfied with our response, you may contact the Office of the Information and Privacy Commissioner for British Columbia.
As a data controller, we only collect personal information that we genuinely need. Before or at the time of collection, we tell you our purpose. We do not use your personal information for any purpose other than what we disclose to you, unless we have your consent or are required to by law.
We collect personal information that you voluntarily provide to us when signing up and completing your financial profile and choosing to integrate your personal banking information.
The personal information that we collect depends on the information you provide to us in requesting certain aspects of your financial portfolio. The personal information we collect can include the following:
General account information, including your email address and first name and last name; gender, date of birth; financial aspirations, including when you and your partner would like to retire; income and related information; investment and savings related information; debt information; insurance information; tax information; life insurance coverage analysis; and others.
All personal information that you provide to us must be true, complete and accurate, and you must notify us of any changes to such personal information.
Some information — such as IP address and/or browser and device characteristics — is collected automatically when you visit our Services.
We automatically collect certain information when you visit, use or navigate the Services. This information does not reveal your specific identity (like your name or contact information) but may include device and usage information, such as your IP address, browser and device characteristics, operating system, language preferences, referring URLs, device name, country, location, information about how and when you use our Services and other technical information. This information is primarily needed to maintain the security and operation of our Services, and for our internal analytics and reporting purposes.
Like many businesses, we also collect information through cookies and similar tracking technologies to read, store and write information on your browser and device.
Online Identifiers. We collect tools and protocols, such as IP (Internet Protocol) addresses; cookie identifiers, or others such as the ones used for analytics and marketing; device’s geolocation; applications; and other similar data.
We use this information to deliver content, improve our site and Services, maintain security, enable user choice and for marketing purposes.
Finally, we will record your sessions with the ElektraFi Certified Financial Planner that you select only if you consent to recording. This will allow you, the end user to review the conversation and help the CFP deliver on their commitments to you. This will not be shared with anyone. Please be advised that interactions may be recorded for quality assurance, training, and compliance purposes and to ensure the highest standards of service while maintaining the utmost privacy and confidentiality.
Withdrawal of Consent
Individual customers have the right to withdraw their consent for the recording of the CFP interactions at any time. However, this may impact the quality of services provided.
We process your information for purposes based on legitimate business interests, the fulfillment of our contract with you, compliance with our legal obligations, and/or your consent.
We use personal information collected via our Services for a variety of business purposes described below. We process your personal information for these purposes in reliance on our legitimate business interests, in order to enter into or perform a contract with you, with your consent, and/or for compliance with our legal obligations. We indicate the specific processing grounds we rely on next to each purpose listed below.
We use the information we collect or receive:
To send you marketing and promotional communications. We and/or our third-party marketing partners may use the personal information you send to us for our marketing purposes, if this is in accordance with your marketing preferences. You can opt-out of our marketing emails at any time.
To send administrative information to you. We may use your personal information to send you product, service and new feature information and/or information about changes to our terms, conditions, and policies.
Deliver contextual nudges to you. We may use your information to develop and display content and suggestions tailored to your interests and goals that you set and to measure its effectiveness.
To enforce our terms, conditions and policies for Business Purposes, Legal Reasons and Contractual. We may use your personal information to administer and perform our Services, to reorganize or make changes to our business, to carry out our obligations under our contract with you, to fulfil legal, regulatory or risk management obligations.
To respond to legal requests and prevent harm. If we receive a subpoena or other legal request or have a fraud matter, we may need to inspect the data we hold to determine how to respond.
To deliver services to the user. We may use your information to provide you with the requested service or to respond to requests for information.
To respond to user inquiries/offer support to users. We may use your information to respond to your inquiries and solve any potential issues you might have with the use of our Services.
For other Business Purposes. We may use your information for other Business Purposes, such as data analysis, identifying usage trends, determining the effectiveness of our promotional campaigns and to evaluate and improve our Services, products, marketing and your experience. We will use and store this information in aggregated and anonymized form so that it is not associated with individual end users and does not include personal information. We will not use identifiable personal information without your consent.
We only share information with your consent, to comply with laws, to provide you with services, to protect your rights, or to fulfill business obligations. Your information will NOT be shared with your company, your manager or any of your colleagues. The only person who will have access to your financial information will be you, your partner (if you have added them as a spouse) and your Certified Financial Planner (if you chose to talk to one in person).
We do not sell your personal information. We may share it with:
Service providers who perform services on our behalf, under written contracts that require them to protect your information to the same standard we do;
Government authorities when required by law, valid court order, or other legal process; and
Other parties with your consent, or in connection with a business transaction such as a merger, where we ensure your information remains protected.
We may process or share data based on the following legal basis:
We keep your information for as long as necessary to fulfill the purposes outlined in this privacy policy unless otherwise required by law.
We will only keep your personal information for as long as it is necessary for the purposes set out in this privacy policy, unless a longer retention period is required or permitted by law (such as tax, accounting or other legal requirements). No purpose in this policy will require us keeping your personal information for longer than 2 years past the termination date of the user’s account.
When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it or, if that is not possible, we will securely store your personal information and isolate it from any further processing until deletion is possible.
If your personal information is transferred outside of British Columbia or Canada, we take steps to ensure it receives comparable protection. We will inform you if your information will be transferred outside Canada.
Your data is stored in secure and compliant data centers located in Canada. These locations are selected based on factors such as performance, reliability, and compliance with data protection regulations. We utilize state-of-the-art infrastructure to ensure the confidentiality, integrity, and availability of your information. Our data storage practices comply with industry standards and regulatory requirements, providing a secure environment for sensitive financial data.
We use physical, technological, and organizational safeguards appropriate to the sensitivity of your personal information. These include access controls, encryption, secure storage, staff training, and regular security assessments. We limit access to your information to those employees and service providers who need it to do their jobs.
We maintain an annual SOC 2 Type 2 attestation. SOC 2 is a voluntary standard developed by the American Institute of Certified Public Accountants (AICPA) that sets out how service organizations should manage customer data. An independent licensed CPA firm examines our controls against the AICPA Trust Services Criteria of security, availability, processing integrity, confidentiality, and privacy, and issues a report on how effectively those controls operated over the period under review.
We have implemented appropriate technical and organizational security measures designed to protect the security of any personal information we process. However, please also remember that we cannot guarantee that the internet itself is 100% secure. Although we will do our best to protect your personal information, transmission of personal information to and from our Services is at your own risk. You should only access the services within a secure environment.
You may review, change, or terminate your account at any time.
If you have questions or comments about your privacy rights, you may email our Privacy Officer at privacy@elektrafi.io.
Account Information
If you would at any time like to review or change the information in your account or terminate your account, you can:
■ Contact us using the contact information provided.
Upon your request to terminate your account, we will deactivate or delete your account and information from our active databases. However, some information may be retained in our files to prevent fraud, troubleshoot problems, assist with any investigations, enforce our Terms of Use and/or comply with legal requirements.
Cookies and similar technologies: Most Web browsers are set to accept cookies by default. If you prefer, you can usually choose to set your browser to remove cookies and to reject cookies. If you choose to remove cookies or reject cookies, this could affect certain features or services of our Services. To opt-out of interest-based advertising by advertisers on our Services visit http://www.aboutads.info/choices/.
Opting out of email marketing: You can unsubscribe from our marketing email list at any time by clicking on the unsubscribe link in the emails that we send or by contacting us using the details provided below. You will then be removed from the marketing email list – however, we will still need to send you service-related emails that are necessary for the administration and use of your account. To otherwise opt-out, you may:
■ Note your preferences when you register an account with the site.
■ Unsubscribe in email footer
Yes, we will review our privacy policy annually and update this privacy policy as necessary to stay compliant with relevant laws.
We may update this privacy policy from time to time. The updated version will be indicated by an updated “Revised” date and the updated version will be effective as soon as it is accessible. If we make material changes to this privacy policy, we may notify you either by prominently posting a notice of such changes or by directly sending you a notification. We encourage you to review this privacy policy frequently to be informed of how we are protecting your information.
If you have issues or questions regarding our privacy policy, you may contact our privacy officer at the contact information below:
Privacy Officer
Ryan St. Hilaire, CTO
privacy@elektrafi.io
Mailing address
#204 1965 W 4th Avenue, Vancouver, BC V6J 1M6 Canada
Phone
1-833-558-7246
Regulator (BC)
Office of the Information and Privacy Commissioner for BC oipc.bc.ca · 1-800-663-7867
Regulator (Federal)
Office of the Privacy Commissioner of Canada priv.gc.ca · 1-800-282-1376
