Last Modified: As of 14 January 2025
This Privacy Policy (“Privacy Policy”) describes how MULA AI CORP (“we,” “us,” or “our”) collects, uses, processes, stores, and protects your personal information when you use Penny, an AI-powered mobile application to help you manage your personal finances (the “App”), and any associated services better for you.
We strongly believe in protecting this information and your privacy. Please read this Privacy Policy carefully.
“Personal information” generally refers to any data or information that can identify you such as name, address, email address, number, your IP address, or other unique identifier.
Account Information such as name, email address, mobile phone number, and password.
Identity verification information such as date of birth and gender.
Financial data such as bank and investment account names, account balances, account number, and credit and debit card details, among others.
II. Information we collect when you use the App
Account Usage Information
Additional financial data such as transaction details
Data relating to the use of the App, including but not limited to performance, frequency of usage, and crash and performance logs and reports.
We do not sell your information to anybody. PERIOD. Your data is run through a process that aggregates and anonymizes it automatically. This means your data cannot be connected with any of your personally identifiable details.
User Community
Allows sharing of aggregated data insights relevant (ie. “You spend 10% more on groceries than people similar to you.”) to help you understand your financial behavior
Analytical Researchers in the Company
Personally unidentifiable transaction information is analyzed and labeled to provide you personalized actionable insights. (ie. “Be wary of your water bills since the weather is getting warmer this summer.”)
Plaid
A third-party payments solution to give you the most seamless and effective App experience (Plaid Account Terms and Privacy Policy)
If you have given your consent for us to use your personal information in a particular way, but later change your mind, you should contact us and we will stop doing so.
Depending on your location, you may have the following rights with respect to your personal information.
You may have the right to:
Access your personal information that we store or request for a copy of such;
Update, correct, or delete certain personal information;
Ask us to restrict the way that we use your personal information;
Request to stop using your personal information for marketing purposes.
This section explains how and where your data is stored and secured.
A. Data Storage
Your information is stored in a secure data center that adheres to global safety standards, as well as on your device. Through the app, you have the capability to recover and export your data with ease.
B. Data Encryption
Your information is encrypted during transfer over the Internet and also when stored on our servers. Our servers are hosted in secure facilities with stringent physical and electronic safety measures to protect against unauthorized access.
You may access, review, and update your personal information at any time through the App. You may also delete your account, which will delete user-linked personal information, or request that we delete your account on your behalf.
A. Purpose
We use SMS, iMessage, WhatsApp, and other messaging platforms to send you important notifications, reminders, and security information related to your account. These messages may include account notifications, reminders, and receiving one-time passwords (“OTPs”) to verify your identity or complete transactions. By providing us with your phone number, you consent to receive these communications through SMS and other messaging platforms. You may also be charged by your mobile carrier for receiving these messages, depending on your plan.
B. What We Collect
When you provide your phone number or other contact information, we collect and store your phone number and account information. Consistent with this Privacy Policy, we will not share your phone number with third parties unless required to do so for the purpose of delivering these services or in compliance with legal obligations. We may share your phone number and associated information with trusted service providers or messaging platform operators (e.g., SMS gateways, WhatsApp, iMessage) solely for the purpose of delivering the notifications, reminders, and OTPs described above. These third parties are required to comply with privacy and data protection laws and to safeguard your information. We do not sell, rent, or share your phone number with third parties for marketing purposes.
C. Consent to Opt In
By providing your phone number and agreeing to receive messages, you consent to our sending you communications via SMS, iMessage, WhatsApp, or other messaging apps as described in this policy. You can withdraw your consent at any time by opting out of receiving such communications
D. Opting Out and Changing Preferences
You may opt out of receiving future SMS messages, reminders, and sorrynotifications by following the opt-out instructions provided in the messages you receive. For other messaging platforms like iMessage or Telegram, follow the unsubscribe instructions provided within the message or adjust your communication preferences within the app settings.
E. Data Retention
We will retain your data pursuant to the terms of this Privacy Policy. Once you opt out or delete your account, your data will be removed from our messaging system in accordance with this Privacy Policy.
Children's privacy
The App and the Services are not directed to children under 18 years old (or other applicable law), and so we do not knowingly collect personal information from children nor do we offer any content targeted to children.
We may update this Privacy Policy from time to time. We will notify you of any changes by posting the revised Privacy Policy on the App or through other channels. We will provide you an avenue to agree or disagree to the revised terms. If you disagree with the revisions, (a) we may delete your account and relevant data after multiple notices within 90 days from receipt of your disagreement to the changes to this Privacy Policy; or (b) you may request for the deletion of your account by privacy@mulah.ai.
Contact Us
If you have questions or concerns regarding this Privacy Policy or if you see any bugs or vulnerabilities in our systems, please contact us at privacy@mulah.ai