Security FAQ for Accountants & Advisors
How does MyBalancingIQ protect my financial data?
MyBalancingIQ uses industry-standard security practices to protect your data, including encryption in transit and at rest, secure cloud infrastructure, and strict access controls. We collect only the data necessary to provide insights and never sell customer data.
Does MyBalancingIQ store my accounting software login credentials?
No. MyBalancingIQ never stores your third-party login credentials. Connections to accounting platforms are made using secure, permission-based authorization methods, and access can be revoked by the user at any time.
Who owns my data?
You do. Customers retain full ownership of their data at all times. MyBalancingIQ acts only as a data processor to deliver insights and recommendations on your behalf.
Can my data be used to train AI models?
Customer data is not used to train public or third-party AI models. Data is processed in isolated environments and used solely to generate insights for your business.
Is my data shared with third parties?
We do not sell or rent customer data. Data may be shared only with trusted service providers required to operate the platform, under strict confidentiality and security obligations.
Is MyBalancingIQ compliant with privacy regulations?
MyBalancingIQ is designed to align with applicable privacy and data protection regulations in the United States, United Kingdom, and Canada, including GDPR and PIPEDA where applicable.
How is access to my data controlled internally?
Internal access is restricted to authorized personnel on a need-to-know basis and governed by role-based access controls. Access is monitored and logged.
Where is my data hosted?
Data is hosted on secure, enterprise-grade cloud infrastructure with built-in redundancy, monitoring, and resilience designed to meet high availability and security standards.
What happens if I disconnect my account?
If you disconnect an integration or cancel your account, access to connected data is removed. Data handling follows our retention and deletion policies and applicable legal requirements.
How does MyBalancingIQ handle security incidents?
We maintain procedures to identify, respond to, and mitigate security incidents. In the unlikely event of a data security issue, affected users will be notified in accordance with applicable laws and regulations.
Is MyBalancingIQ a replacement for my accountant or CFO?
No. MyBalancingIQ is a decision-support platform. It provides insights and recommendations but does not replace professional accounting, legal, or financial advice.
How can I contact MyBalancingIQ about security or privacy concerns?
You can contact our team directly through the Contact page. We are committed to transparency and timely responses to all security and privacy inquiries.
For more information, please review our Trust and Security, Privacy Policy, and Terms of Service pages.