VEALTHX USER CONSENT FORM
Effective Date & Time
This consent will take effect from the date and time the User accepts it digitally through the Vealthx platform. This acceptance will be recorded in Vealthx's electronic systems. The date and time of acceptance noted in Vealthx's secure digital logs will be considered the official effective date and time for all legal and compliance purposes.
You ("User") hereby voluntarily, expressly, and unconditionally consent to the collection, use, processing, and sharing of your personal data as detailed below by accessing and using the Vealthx mobile application and/or web platform ("App").
1. Consent to Data Access
I understand and consent that Vealthx will use my mobile number or other identity credentials to gather and process data.
The information I access through the App is private and meant only for me. The data shown comes from authorized sources or financial institutions that follow relevant rules, including those set by the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Account Aggregator (AA) framework, and the Financial Intelligence Unit (FIU).
2. Why Data Is Used
I am aware that access to my personal financial information will only be used to:
- • Find assets in my name that have been forgotten, unclaimed, or already exist
- • Providing information and services pertaining to asset management; and
- • Helping me with estate or legacy planning
2A. Data Use for Communication
I agree to Vealthx using my contact information, including my phone number, email address, and in-app notification settings, to send me important updates, alerts, and messages related to the service. These messages may include details about discovered assets, account activity, regulatory updates, and changes to terms or policies. I understand that these messages are necessary for the services I have requested and cannot be opted out of unless I stop using the app.
2B. Automated Processing and AI Tools
I acknowledge and agree that Vealthx may use artificial intelligence (AI) systems and other automated tools to handle my personal and financial data. This includes tasks like finding assets, detecting life events, and triggering claims automatically. I understand that this processing will follow all relevant laws, and the results will be checked by authorized staff when needed.
3. Disclaimer of Data Sources
I acknowledge and agree that:
- • The information was obtained from public repositories and financial institutions that abide by RBI regulations
- • Vealthx is not in charge of the data's accuracy or completeness and neither creates nor modifies it
I understand that Vealthx may work with trusted third-party service providers. They operate under strict contracts and legal obligations to help process, store, or transmit my data only for the purposes detailed in this consent. These third parties must keep my information confidential and follow all relevant laws and regulations.
4. Limitation of Liability
I agree that Vealthx is not responsible for losses from inaccurate or incomplete third-party data, user errors from wrong credentials, or unauthorized access due to my negligence.
5. Confidentiality and Privacy
I am aware that:
- • All applicable Indian laws will be followed in the processing and storage of my personal data
- • Without my express consent, Vealthx will not rent, sell, or otherwise distribute my data to outside parties
- • I can use the in-app settings or get in touch with contact@vealthx.com to withdraw this consent at any time
6. Security Measures
I recognize that Vealthx uses proper technical and organizational measures to protect my personal and financial data. These measures include industry-standard encryption for transmission and storage, secure servers that follow relevant laws, and strict access controls that ensure only authorized personnel can access my information.
6A. Data Sharing with Nominees or Legal Heirs
I acknowledge and agree that when Vealthx services include family tree mapping, nominee tracking, or smart claims processing, some personal and financial information may be shared with my chosen member(s) or legal heir(s). This sharing is only for the purpose of identifying assets, helping with claims, or planning my estate and legacy. It will follow relevant laws and will only include what is needed to achieve this purpose.
7. Restrictions on Use
I agree that I will not use the App to get information about anyone other than myself.
It is my responsibility to ensure that the information and identity credentials I provide, such as my mobile number, Permanent Account Number (PAN), Aadhaar number, Passport number, Voter ID, Driving Licence, Ration Card, or any other officially valid document (OVD) recognized under applicable law, are correct, valid, and belong to me.
Any misuse or misrepresentation will result in denial of service and may lead to legal action.
8. Right to Withdraw Consent
I understand that:
- • I may withdraw my consent at any time
- • Upon withdrawal, Vealthx will stop processing my data but may keep necessary records for compliance and legal reasons. These records will be held only for the time required by applicable laws and regulations. They will be securely deleted or anonymized once their purpose has been fulfilled or the required retention period has ended
- • Vealthx may keep necessary records only for as long as the law requires, usually 8 years for SEBI-related obligations or 10 years for AML (Anti-Money Laundering) and PMLA (Prevention of Money Laundering Act) compliance. Once the required retention period has passed, these records will be securely deleted or anonymized
9. Governing Law
This consent shall be governed by and construed in accordance with the laws of India. Disputes, if any, shall be subject to the exclusive jurisdiction of the courts of Bengaluru, Karnataka.
10. Authorized Signatory Declaration
If the User is a company, trust, partnership, or any other legal entity, the person accepting this consent confirms that they have the proper authority to act for the entity. This consent is binding on the entity according to the relevant laws and governing documents.