Privacy Policy

Effective Date: 01/05/2023
Last Updated: 01/05/2023

1. Introduction

Laraware (“we,” “us,” or “our”) is India’s leading AI-powered fintech software development company committed to protecting the privacy and security of your personal information. This Privacy Policy explains how we collect, use, process, and protect your information when you use our services, including our AI-driven SaaS solutions, fintech software development services, school management systems, hospital management systems, and related technologies.

2. Information We Collect

2.1 Personal Information

We may collect the following types of personal information:

Contact Information:

• Name, email address, phone number
• Business address and contact details
• Job title and company information

Account Information:

• User credentials and login information
• Account preferences and settings
• Subscription and billing information

Financial Information:

• Payment details and billing addresses
• Transaction history and financial data (for fintech services)
• Banking information for AePS, BBPS, DMT, and other financial services

Technical Information:

• Device information and IP addresses
• Browser type and operating system
• Usage patterns and analytics data
• Log files and system performance metrics

2.2 Sensitive Information

Given our work in fintech, healthcare, and education sectors, we may process:

• Financial transaction data
• Healthcare records and patient information
• Educational records and student data
• Biometric data (for authentication purposes)
• Any other sensitive personal data as required by our services

2.3 AI and Analytics Data

• Data used to train and improve our AI models
• Performance metrics and system analytics
• User interaction patterns with our AI-powered solutions

3. How We Use Your Information

3.1 Service Delivery

• Provide and maintain our software development services
• Deliver AI-powered fintech, edtech, and healthcare solutions
• Process financial transactions and payments
• Manage user accounts and subscriptions

3.2 AI Development and Improvement

• Train and enhance our AI algorithms
• Improve the accuracy and performance of our AI-driven solutions
• Develop new features and capabilities
• Conduct research and development activities

3.3 Business Operations

• Communicate with clients and prospects
• Provide customer support and technical assistance
• Process payments and manage billing
• Comply with legal and regulatory requirements

3.4 Security and Compliance

• Detect and prevent fraud and security threats
• Ensure compliance with financial regulations
• Maintain data integrity and system security
• Conduct audits and risk assessments

4. Information Sharing and Disclosure

4.1 Third-Party Service Providers

We may share information with:

• Cloud hosting providers (AWS and other infrastructure partners)
• Payment processors and financial institutions
• API providers for fintech services
• Analytics and monitoring services
• Professional service providers (legal, accounting, etc.)

4.2 Legal Requirements

We may disclose information when required by:

• Indian laws and regulations
• Court orders or legal proceedings
• Regulatory authorities (RBI, SEBI, etc.)
• Law enforcement agencies
• Compliance with industry standards

4.3 Business Transfers

Information may be transferred in connection with:

• Mergers, acquisitions, or sale of assets
• Corporate restructuring or reorganization
• Joint ventures or partnerships

5. Data Security

5.1 Technical Safeguards

• End-to-end encryption for data transmission
• Advanced access controls and authentication
• Regular security audits and penetration testing
• Secure cloud infrastructure with redundancy
• AI-powered threat detection and prevention

5.2 Administrative Safeguards

• Employee training on data privacy and security
• Background checks for personnel with data access
• Incident response and breach notification procedures
• Regular policy updates and compliance monitoring

5.3 Physical Safeguards

• Secure data centers with restricted access
• Environmental controls and monitoring
• Backup and disaster recovery systems

6. Data Retention

6.1 Retention Periods

• Personal information: Retained for the duration of the business relationship plus 7 years
• Financial transaction data: Retained as per RBI and financial regulations
• Healthcare data: Retained as per applicable healthcare regulations
• Educational data: Retained as per educational institution requirements
• System logs and analytics: Retained for 24 months unless required for longer periods

6.2 Data Deletion

• Secure deletion of data upon request or at end of retention period
• Anonymization of data for research and development purposes
• Compliance with data subject rights regarding deletion

7. Your Rights and Choices

7.1 Access Rights

• Request access to your personal information
• Obtain copies of data we hold about you
• Receive information about our processing activities

7.2 Correction and Update

• Correct inaccurate or incomplete information
• Update your personal details and preferences
• Modify account settings and configurations

7.3 Data Portability

• Request transfer of your data to another service provider
• Receive your data in a structured, commonly used format
• Facilitate migration to other platforms

7.4 Deletion and Restriction

• Request deletion of your personal information
• Restrict processing of your data
• Object to certain types of processing

8. International Data Transfers

8.1 Cross-Border Transfers

• Data may be transferred to and processed in countries outside India
• Adequate safeguards are implemented for international transfers
• Compliance with applicable data protection laws

8.2 Safeguards

• Standard contractual clauses with international partners
• Adequacy decisions by relevant authorities
• Binding corporate rules and certification schemes

9. Cookies and Tracking Technologies

9.1 Cookie Usage

• Essential cookies for website functionality
• Analytics cookies for performance monitoring
• Preference cookies for user experience
• Marketing cookies for targeted communications

9.2 Cookie Management

• Cookie consent and preference management
• Opt-out mechanisms for non-essential cookies
• Regular review and update of cookie policies

10. Children’s Privacy

We do not knowingly collect personal information from children under 13 years of age. Our educational software solutions are designed for institutional use with appropriate parental and institutional consent.

11. Compliance with Indian Laws

11.1 Regulatory Compliance

• Information Technology Act, 2000 and rules thereunder
• Reserve Bank of India (RBI) guidelines
• Securities and Exchange Board of India (SEBI) regulations
• Goods and Services Tax (GST) requirements

11.2 Data Protection

• Compliance with proposed Personal Data Protection Bill
• Adherence to sector-specific regulations
• Regular compliance audits and assessments

12. Contact Information

12.1 Data Protection Officer

Email: info@laraware.com
Address: Narjoga Tower -D-262, Vibhooti Khand Gomti Nagar, 

Lucknow, Uttar Pradesh, India- 226010

Phone: 8188949800

12.2 General Inquiries

Email: info@laraware.com
Website: https://laraware.com

13. Changes to This Policy

We may update this Privacy Policy from time to time to reflect changes in our practices, technologies, or legal requirements. We will notify you of any material changes by:

• Posting the updated policy on our website
• Sending email notifications to registered users
• Providing notice through our software platforms

14. Effective Date

This Privacy Policy is effective as of 01/05/2023 and will remain in effect until replaced by a new version.

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Laraware – India’s First AI-Powered Fintech Software Development Company
We manage your IT, so you can manage your business.