These Account Aggregator Terms of Use (“AA Terms”) apply when you choose to share your financial information with Quicko Infosoft Private Limited (“Quicko”, “we”, “us”, “our”) through an Account Aggregator.
These AA Terms form part of, and must be read together with, the Quicko Terms & Conditions of Use and the Quicko Privacy Policy. If there is a conflict on any matter concerning data received through an Account Aggregator, these AA Terms prevail.
You will be shown these AA Terms before you sign up for, or first use, any Quicko feature that fetches data through an Account Aggregator.
In these AA Terms:
Account Aggregator (AA) means a non-banking financial company licensed by the Reserve Bank of India (RBI) as an NBFC–Account Aggregator, which, on your instruction, retrieves your financial information from a Financial Information Provider and shares it with a Financial Information User.
Financial Information Provider (FIP) means a bank, depository, mutual fund, insurer or other regulated entity that holds your financial information.
Financial Information User (FIU) means a regulated entity that requests your financial information through an AA. Quicko acts as an FIU.
Consent or Consent Artefact means the electronic consent you give on the AA’s platform, recording the purpose, the type and period of data, how often it may be fetched, how long it may be kept, and when the consent expires.
Raw Data means the financial information delivered to us by an AA.
Derived Data means any information calculated or extracted from Raw Data, including transaction totals, balances, trends or patterns.
Outcome means the result of our processing, such as a computed tax liability, a pre-filled return or a tax report, that does not disclose Raw Data or Derived Data.
Data Processing Partner means an entity that processes data only on our behalf and for our use, and not for itself or any other entity.
Sahamati means the industry alliance of Account Aggregator ecosystem participants, of which Quicko is a member.
Quicko participates in the Account Aggregator ecosystem as an FIU.
Quicko is not an AA and does not operate the consent platform. Your consent is created, managed and recorded on the AA’s platform, under the AA’s own terms of use.
Quicko is a member of Sahamati and follows the Sahamati membership terms and ecosystem guidelines applicable to FIUs.
We will fetch your financial information only after you give explicit consent on the AA’s platform. Sharing data through an AA is optional. If you decline, you can still use Quicko by entering or uploading the information yourself, though some features may not be available.
Each consent request will state, in plain language: the purpose; the type of information (for example, bank statements, deposits, mutual fund or equity holdings); the date range; how often data will be fetched; how long we will keep it; and when the consent expires.
We will use your data only for the purpose stated in the consent and within its parameters. For any new purpose, we will ask for your fresh consent.
We use data received through an AA to compute your income and capital gains, reconcile it with Form 26AS and the Annual Information Statement, pre-fill your income tax return, and generate tax reports for you, as stated in each consent.
We do not use Raw Data or Derived Data for advertising or for profiling on behalf of third parties, and we do not sell it.
Raw Data. We will not share Raw Data received through an AA with any person other than our Data Processing Partners. We share Raw Data with a Data Processing Partner only where your valid consent for the relevant purpose is in place.
Derived Data. We will not share Derived Data, including transaction totals, trends or patterns, with any other entity.
Outcomes. We may share Outcomes with other entities only where you have asked us to or have given separate consent (for example, sharing a tax computation with a chartered accountant you engage through Quicko). An Outcome shared in this way will not contain Raw Data or Derived Data.
Disclosure required by law. We may disclose data where required by law, a court order, or a lawful request from a regulator or government authority. Where permitted, we will inform you of such disclosure.
We may engage Data Processing Partners for services such as cloud hosting, data storage and document parsing.
Our written agreements with each Data Processing Partner:
require it to process Raw Data only on our instructions and only for the purpose of your consent;
prohibit it from using Raw Data, or the results of any processing done for us, for itself, and from sharing them with any other entity;
require it to follow the consent parameters, including data range, purpose and retention period, and to delete data when we instruct it to; and
record that Quicko, as the FIU, remains accountable to you for the Data Processing Partner’s compliance and will enforce these obligations.
We comply with the obligations laid down by the Regulator and applicable law concerning the use of service providers and outsourcing.
We store your data in India, encrypted in transit and at rest, with access limited to personnel and Data Processing Partners who need it for the stated purpose.
We keep Raw Data and Derived Data only for the retention period stated in your consent, or for as long as the law requires, whichever is longer. We then delete it securely and ensure that our Data Processing Partners do the same.
If a data breach affects data received through an AA, we will notify you, the AA and the relevant authorities as required by law.
As a customer in the Account Aggregator ecosystem, you have the right to:
be told the purpose and parameters of each consent before you give it;
refuse a consent request without losing access to Quicko’s other services;
pause or revoke a consent at any time, on the AA’s platform or by writing to us; once a consent is revoked, we will stop fetching data under it and inform the AA;
view the history of consents given and of data fetched under them, on the AA’s platform;
ask us to delete Raw Data and Derived Data held under a revoked or expired consent, subject to any retention required by law;
ask for correction of inaccurate data, noting that errors in source data must be corrected by the FIP;
de-register from the AA, in accordance with the AA’s terms; and
raise a grievance with us, the AA or the FIP, as set out in these terms.
We will:
request only the data needed for the stated purpose;
not fetch data outside a valid consent, or after a consent is revoked or has expired;
not store or ask for your AA or FIP login credentials;
not share Raw Data or Derived Data except as set out in these terms;
maintain logs of consents and data fetches, and make them available to you on request; and
inform you of material changes to these AA Terms before they take effect.
You must link only accounts that you own or are authorised to share, and must review each consent request before approving it.
You must not misuse the AA service through Quicko, including by attempting to access another person’s financial information.
We rely on data as delivered by the FIP through the AA. We are not responsible for errors, omissions or delays in that source data, or for the availability or functioning of the AA’s platform. Nothing in this section limits our liability for a breach of these terms.
We will show a “Last updated” date at the top of these AA Terms No change will widen the use of data fetched under a consent you gave before the change.
These AA Terms are governed by the laws of India and are subject to the dispute resolution and jurisdiction provisions of the Quicko Terms & Conditions of Use, with the courts at Ahmedabad having exclusive jurisdiction.