In this new series called Otly!how, we are giving answers to some of the most frequently asked questions. If you have a suggestion for the next one, send us an email and maybe you see your question on here.1
Is my data safe?
Short answer: Yes.
At Otly we are adhering to all standards when it comes to privacy and data security. We will spare you the technical details, but having built the system from the ground up with military grade2 encryption protocols and security algorithms, you can be sure that your data is safe with us. Of course we are more than happy to talk about our data security measures in more detail but for the sake of clarity, we do not discuss them here. If you do want to know more, you can always send us an email at email@example.com.
Besides the technical data protection, we also hold ourselves to high standards when it comes to your data. This means that we will not sell your data, nor will we ever share the financial details of you or your children. Being parents and former children ourselves, we know
Although this is the case, we do not want to fool you by saying that your data only stays on our servers. In order to run our business, we need to work with other companies to be able to run our app, just like every other company. For example, for the emails you get we use a service called Mailchimp and for our app analytics we use GoogleAnalytics. This means that these companies can have access to a curated part of your data (usually only name, email and/or language). But to be clear again, we do not sell your data, we only work with respected, experienced companies and we never share your financial data.
Although we do everything to secure your data, please don't use "123456" or "password" to secure your own account. Because if you do, there is only so much we can do.
If the app is free, how do you make money?
Good question. First of all to reassure you; We do not sell your information. Period.
Instead of selling your personal data, we found a way to make money by asking the banks we work with to pay for service. This means that if you open or use an account for your child, with your own bank, we get reimbursed by the bank. Secondly, if you or your children buy use Otly!Pay to buy something within the app, we get a small percentage of this purchase. From that percentage, we will take care of those nasty transaction fees and other costs costs, so you do not pay more than you buy.
A really small part of our revenue comes from our ContentHub. The ContentHub is the place within the app where we provide useful articles to our users. All the non-profits you see in the feed are there because we love them. For-profit businesses on the other hand, they are in the ContentHub because they are contributing to Otly or because they are providing something to you, our users. An example is that they can offer a product to you for a discounted price, through our Otly!Perks.
What happens to my data if I ever want to leave?
Of course we hope you do not leave Otly, but in case that you do, we will delete everything you ever put into the app. This means that after you delete your account, we do not have any data on you, or your children anymore. If you ever want to re-join, you will need to start from scratch again.
If you are connected to a bank and you want to delete your Otly, we will delete your account at Otly but your bank-account remains untouched. As a company, we are not a bank, nor are we planning on becoming one. This means we will not handle your money, ever. So if you delete your Otly account, your bank account will still there at your bank, just as before. You just won't be able to enjoy the lovely benefits that we offer on top of the service a bank has to offer.
The general Otly FAQ will be available on our website shortly. The moment this is done we will update everyone through our social media channels. ↩
The security standards on which Otly is built are the same that are used by the NSA to encrypt classified documents and other confidential information. If the US government uses it to keep their secrets safe, we are pretty confident it will keep ours. ↩