Privacy Policy

1. Introduction

AkountFly ("we," "our," or "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our website, web application, and iOS mobile application (collectively, the "Service").

Data Controller. The Service is operated by AkountFly Technologies Limited, a company registered in England and Wales, with its registered office at 128 City Road, London, EC1V 2NX, United Kingdom. For any privacy-related enquiries, you can reach us at team@akountfly.com.

We comply with the General Data Protection Regulation (GDPR), the UK Data Protection Act 2018, the California Consumer Privacy Act (CCPA), the Nigeria Data Protection Act 2023, and other applicable data protection laws.

2. Information We Collect

2.1 Personal Information

• Name and email address
• Business name and address
• Phone number
• Bank account details (for payment processing)
• Financial transaction data

2.2 Automatically Collected Information

• Device information (browser type, operating system)
• IP address and location data
• Usage data and analytics
• Cookies and similar technologies

3. How We Use Your Information

We use your information to:

• Provide and maintain our accounting services
• Process your financial transactions
• Generate invoices and reports
• Connect to your bank accounts via Open Banking
• Send you service-related communications
• Improve our services and develop new features
• Comply with legal obligations

4. Legal Basis for Processing (GDPR)

We process your data based on:

• Contract: To fulfill our service agreement with you
• Legitimate Interest: To improve our services and prevent fraud
• Legal Obligation: To comply with financial regulations
• Consent: For marketing communications (where applicable)

5. Data Sharing and Disclosure

We may share your information with:

• Payment Processors: Paystack (Africa), Stripe (UK/US/EU) for subscription billing
• Open Banking Providers: Mono (Nigeria/Ghana/Kenya), Plaid (UK/US/EU), Stitch (South Africa)
• Email Services: Resend for transactional emails and invoices
• AI Processing: OpenAI for transaction classification (see Section 5.1)
• Cloud Providers: MongoDB Atlas for database, AWS for infrastructure
• Legal Authorities: When required by law

We do not sell your personal information to third parties.

5.1 AI-Powered Features

AkountFly uses artificial intelligence to enhance your experience. Specifically:

• Transaction Classification: Your bank transaction descriptions are processed by large language models (OpenAI GPT family, Anthropic Claude family, and Google Gemini family) via a private, contractually-restricted API. We only send transaction descriptions, amounts, and dates — never your bank credentials or full account numbers.
• AkountFly AI Advisor: Our AI Advisor uses the same providers to answer your financial questions and generate reports based on your business data.
• Tax Detection: AI analyzes transactions to identify potential VAT and tax implications.
• Cash Flow Forecasting: AI predicts future cash flows based on your historical data.

No training on your data. Our AI providers are contractually prohibited from using your data to train their models. Inputs and outputs are not retained by the provider beyond the transient window required to return a response.

Automated decisions and your right to human review (GDPR Art. 22). AI classifications only suggest accounting treatment — you retain full control to approve, reject, or override every AI decision before it posts to your ledger. If an AI-driven decision materially affects you, you may request human review by contacting team@akountfly.com.

You can disable AI-powered features in Settings → Privacy. Without AI, you will need to manually classify transactions.

6. Sub-Processors

We use the following third-party services to process your data:

7. Your Rights

Under GDPR, UK DPA, and CCPA, you have the right to:

• Access: Request a copy of your personal data
• Rectification: Correct inaccurate data
• Erasure: Request deletion of your data ("Right to be Forgotten")
• Portability: Receive your data in a machine-readable format
• Object: Object to certain processing activities including AI processing
• Restrict: Request limited processing of your data
• Withdraw Consent: Withdraw previously given consent
• AI Decisions: Request human review of automated decisions that significantly affect you

To exercise these rights, visit Settings → Privacy in your account or contact us at team@akountfly.com.

8. Data Retention

We retain your data for as long as your account is active or as needed to provide services. Financial records are retained for 7 years to comply with tax and accounting regulations.

After account closure: personal data (name, email, phone, contacts, preferences) is deleted within 30 days. Financial records covered by tax-law retention obligations are archived, encrypted, and access-restricted for the required retention period, then securely deleted. You may request earlier erasure of personal data at any time in Settings → Privacy.

9. Data Security

We implement industry-standard security measures including:

• Encryption in transit (TLS/SSL) and at rest
• Secure password hashing (bcrypt)
• Two-factor authentication (2FA)
• Regular security audits
• Access controls and monitoring

10. International Data Transfers

Your data may be transferred to and processed in countries outside your jurisdiction. We ensure appropriate safeguards are in place, including Standard Contractual Clauses (SCCs) for EU/UK data transfers to the USA.

11. Cookies

We use essential cookies to operate our service and optional analytics cookies to improve user experience. You can manage cookie preferences through our cookie consent banner or in Settings → Privacy. For detailed information about the cookies we use, please see our Cookie Policy.

12. Children's Privacy

The Service is intended for business users and is not directed at children under 16. We do not knowingly collect personal data from children. If you become aware that a child has provided us with personal data, please contact us at team@akountfly.com and we will promptly delete the information.

13. Data Breach Notification

In the event of a personal data breach that is likely to result in a risk to your rights and freedoms, we will notify the relevant supervisory authority within 72 hours of becoming aware of the breach, as required by GDPR Article 33. Where the breach is likely to result in a high risk to you, we will also notify you directly by email without undue delay (GDPR Article 34).

14. Right to Lodge a Complaint

If you believe we have not handled your personal data in accordance with applicable law, you have the right to lodge a complaint with your local data protection supervisory authority. Examples include:

• United Kingdom: Information Commissioner's Office (ICO) — ico.org.uk
• European Union: Your national data protection authority — edpb.europa.eu
• Nigeria: Nigeria Data Protection Commission (NDPC) — ndpc.gov.ng
• South Africa: Information Regulator — inforegulator.org.za
• California, USA: California Privacy Protection Agency — cppa.ca.gov

We would appreciate the opportunity to address your concerns first — please write to team@akountfly.com before contacting the authority.

15. Contact Us

For privacy-related inquiries or to exercise your rights:

• Email: team@akountfly.com
• Data Protection Officer: team@akountfly.com

16. Changes to This Policy

We may update this Privacy Policy from time to time. We will notify you of significant changes via email or through our service. Your continued use of AkountFly after changes constitutes acceptance of the updated policy.

Policy Version: 2.1 | Effective Date: February 2026