Terms of Service

2. Description of the Service

Statement provides a financial intelligence platform that enables businesses to analyse financial data, generate insights, and interact with financial information through analytics dashboards and AI-powered interfaces.

The Service may include:

• financial data analysis tools
• dashboards and financial reporting
• integrations with financial platforms
• AI-powered financial insights
• APIs and data integrations

We may modify, update, or improve the Service from time to time as part of ongoing product development.

3. Account Registration

To access certain features, users must create an account.

You agree to:

• provide accurate and complete information
• maintain the confidentiality of login credentials
• notify Statement immediately of unauthorised account access

You are responsible for all activity conducted through your account.

Statement may suspend accounts where there is suspected unauthorised use or violation of these Terms.

4. Financial Data Integrations

The Service may allow users to connect external financial systems such as:

• accounting platforms
• payment processors
• banking systems through Open Banking providers
• financial APIs

By connecting such services, you authorise Statement to access and process financial data necessary to provide the Service.

You represent and warrant that:

• you have the legal right to connect and provide access to such financial data
• the data you provide does not violate any law or contractual obligation
• the data is accurate and lawfully obtained

Statement does not control third-party systems and is not responsible for disruptions or limitations caused by those providers.

6. Artificial Intelligence and Financial Insights

The Service may use artificial intelligence systems to analyse financial data and generate insights.

These outputs are designed to help users understand financial information and identify patterns within financial data.

AI-generated outputs:

• may contain errors or inaccuracies
• may not reflect complete financial context
• should not be interpreted as accounting, financial, tax, legal, or investment advice

Users are responsible for reviewing financial information and making their own business decisions.

Statement shall not be responsible for any financial decisions or actions taken based on insights generated by the Service.

7. Data Protection and Processing

Statement processes personal data in accordance with applicable data protection laws including the UK GDPR and EU GDPR.

Where Statement processes personal data on behalf of customers, Statement acts as a data processor and the customer acts as the data controller.

Such processing is governed by a Data Processing Agreement ("DPA") that forms part of these Terms or may be entered into separately.

The DPA sets out obligations relating to:

• data protection compliance
• confidentiality
• security safeguards
• sub-processors
• cross-border data transfers

8. Security and Compliance

Statement maintains technical and organisational security measures designed to protect customer data and financial information.

Security practices may include:

• encryption of data in transit
• encryption of sensitive data at rest
• strict access control and authentication
• infrastructure monitoring and logging
• vulnerability management and incident response procedures

Statement may update security practices periodically to align with evolving industry standards.

Customers are responsible for maintaining appropriate security practices within their own systems and protecting account credentials.

9. Acceptable Use

You agree not to use the Service to:

• violate applicable laws or regulations
• process data without proper legal authorisation
• attempt to gain unauthorised access to systems or accounts
• interfere with the operation of the Service
• distribute malware or malicious code
• reverse engineer or attempt to extract source code from the Service
• use the Service to develop competing products through automated extraction of platform data

Statement reserves the right to suspend or terminate accounts that violate these Terms.

10. Third-Party Services

The Service may rely on or integrate with third-party platforms and infrastructure providers.

Statement is not responsible for:

• service disruptions caused by third-party providers
• data practices of third-party integrations
• changes to external APIs or services

Use of such services may also be governed by the terms of those providers.

11. Fees and Payment

Certain features of the Service may require payment.

Where applicable:

• pricing will be disclosed prior to subscription
• payments may be processed through third-party payment providers
• subscriptions may renew automatically unless cancelled

Statement may suspend access to paid services for failure to pay applicable fees.

13. Intellectual Property

All intellectual property rights in the Service, including software, algorithms, models, interfaces, and documentation, remain the property of Statement or its licensors.

These Terms do not grant users any ownership rights in the Service.

Users may not copy, modify, distribute, or create derivative works of the Service except as permitted by law.

14. Service Availability

Statement aims to provide reliable access to the Service but does not guarantee uninterrupted availability.

The Service may be temporarily unavailable due to:

• scheduled maintenance
• technical issues
• third-party outages
• security incidents

Statement may update, modify, or discontinue features of the Service.

15. Limitation of Liability

To the maximum extent permitted by law, Statement shall not be liable for:

• indirect or consequential damages
• loss of profits, revenue, or business opportunities
• loss of data or business interruption

The Service is provided on an "as available" and "as is" basis.

Statement's total liability arising from the Service shall not exceed the fees paid for the Service during the twelve months preceding the claim.

Nothing in these Terms excludes liability that cannot be excluded under applicable law.

16. Indemnification

You agree to indemnify and hold Statement harmless from claims, damages, or losses arising from:

• your misuse of the Service
• your violation of these Terms
• your processing of data in violation of applicable law
• unauthorised access or use of financial data you provide

17. Termination

You may stop using the Service at any time.

Statement may suspend or terminate access if:

• you violate these Terms
• your use creates security or legal risks
• required by law or regulatory obligations

Upon termination, access to the Service may be discontinued and Customer Data may be deleted in accordance with applicable retention policies.