SynapseFI is a core processor and money transmitter. They handle the actual movement of your money and it's security.See All Documents
Effective as of September 9th, 2017.
Synapse takes your privacy seriously. Synapse does not share your information with third parties unless necessary to provide services to you (e.g. Bank, Investment Advisor, and the Platform website or phone application relaying our services to you). We do not sell your information to third parties for marketing purposes.
Below is our policy on your privacy:
a. Information we collect includes:
Information you provide us: We collect nonpublic personal information you provide to us when you apply for a Deposit Account or an Investment Account or if you otherwise use Platform or our website or phone application services to send or receive funds. Additionally, when you communicate with Platform, Bank, or Synapse about these services, we may collect this information. While not all of this information is necessary to use our services, if you opt out of sharing some of this information, this may affect your ability to use your Deposit Account or Investment Account or other services offered by Platform, Bank, Investment Advisor, or Synapse.
The types of information we may collect include:
Information about your transactions: As you use your Deposit Account, Investment Account or otherwise send or receive funds through Platform’s or Synapse’s website or application, we collect nonpublic personal information in connection with each transaction, including transaction time, transaction amount and currency, and details relating to the sender or receiver of funds. We may also collect receipts, contracts, photos, memos or other information relating to your transactions.
Information from other sources: When you create a Deposit Account or Investment Account or otherwise send or receive funds through Platform’s or Synapse’s website or phone application services, we may collect information, including nonpublic personal information, about you from nonaffiliated third party service providers in order to verify your identity and to prevent fraud, and provide our services to you, including information relating to your location, phone number, email address, prior addresses and names, or information made available through a Bank Account you link to our services (e.g. account balances, transaction details, identity related information and your contact details associated with the account).
Additionally, we may collect information you share publicly on your social media accounts. If you do not wish to share this information publicly on your social media accounts, you should adjust your privacy settings with the site.
Information from your digital identity: Your access to Platform services, Bank Services and Synapse’s services is primarily limited to your internet connected devices. As a result, we may collect some information relating to your digital identity such as:
b. How we use your information
We may use your information, including nonpublic personal information as follows:
Synapse is based in the United States and the information we collect is governed by U.S. law. By accessing or using the services or otherwise providing information to us, you consent to the processing and transfer of information in and to the U.S. and other countries.
c. How this information is shared
With financial service providers, including (A) the Bank identified in your Deposit Agreement that provide banking services in connection with your Deposit Account with Bank; and (B) the Investment Advisor identified in your Investment Agreement that provide investment services in connection with your Investment Account;
With non-financial companies, such as identity verification service providers and fraud prevention service providers that use the information to provide services to Synapse and other companies;
With other nonaffiliated companies for our everyday business purposes, such as to process transactions, maintain accounts, respond to court orders and legal investigations or report to credit bureaus. For example, in connection with our everyday business purposes, we may share information about you as follows:
We may also share aggregated or de-identified Information, which cannot reasonably be used to identify you. For example, we may share certain transaction details such as amounts and zip codes in a pseudo-anonymous fashion to promote security and validity of the transaction ledger and Synapse’s services.
Synapse takes commercially reasonable measures to help protect your User Data and other information about you from loss, theft, misuse and unauthorized access, disclosure, alteration and destruction. Additionally, we implement policies designed to protect the confidentiality and security of your nonpublic personal information. Except as detailed herein as it relates to Bank, Investment Advisor, and Platform, Synapse limits access to your nonpublic personal information to employees that have a business reason to know such information, and implements security practices and procedures designed to protect the confidentiality and security of such information and prohibit unlawful disclosure of such information in accordance with its policies.
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