Privacy Policy
Last updated: June 2025
1. About This Policy
This Privacy Policy explains how SEFA collects, uses, and protects your personal and financial data. SEFA is an academic project and is not a licensed financial institution or commercial data processor. By using SEFA, you agree to the practices described in this policy.
2. Data We Collect
SEFA collects the following information: (a) Account data — your email address and hashed password. (b) Financial data — income, expense, and budget records you manually enter or import. (c) Bank connection data — read-only transaction history retrieved from connected bank accounts. (d) Statement import data — transaction rows parsed from uploaded PDF, CSV, or Excel files, pending your review and approval.
3. How We Use Your Data
Your data is used exclusively to provide SEFA's features: displaying your financial records, generating budget summaries, producing AI-powered insights, and powering the SEFA Assistant. We do not use your data for advertising, profiling, or any commercial purpose.
4. Data Sharing
SEFA does not sell, rent, or share your personal or financial data with third parties. Transaction data retrieved from bank connections is stored locally within your SEFA account and is not transmitted to any external service beyond what is required to display your records.
5. Bank Connection & Read-Only Access
When you connect a bank account, SEFA receives read-only access to your transaction history. SEFA cannot initiate, authorise, or modify any financial transaction. You may disconnect your bank account at any time from within the app.
6. Statement Import & User Control
Uploaded bank statements are parsed to extract transaction data. No rows are saved automatically. You review every detected transaction before approving what is saved. Uploaded files are processed and are not retained permanently.
7. Data Security
SEFA implements standard security practices including password hashing, secure API communication, and device-level protection via biometric and PIN authentication. However, as an academic project, SEFA does not guarantee enterprise-grade security and should not be used as a primary security layer for sensitive financial decisions.
8. Not Financial Advice
SEFA's AI-generated insights, spending summaries, and assistant responses are for budgeting awareness purposes only. They do not constitute professional financial, investment, or legal advice. Always consult a qualified financial professional for decisions that materially affect your finances.
9. Academic Project Notice
SEFA is a final-year academic project developed at Bowen University. It is not a regulated financial product. While reasonable security measures are in place, users should exercise caution and not store highly sensitive financial data beyond what is needed for the budgeting features.
10. Contact
If you have questions about this Privacy Policy or how your data is handled, you can contact the developer at owoadehabeeb04@gmail.com.