Terms of Service

1.1 Application Overview: NoviFin is an AI-powered financial management application designed specifically for Indian users, providing intelligent SMS-based transaction detection and IOU (I Owe You) management capabilities.

1.2 SMS Reading Feature: Our app includes an optional SMS reading feature that helps automatically detect financial transactions from your SMS messages. This feature:

• Only processes SMS messages locally on your device
• Never uploads SMS content to our servers
• Focuses specifically on banking and payment notifications from major Indian banks
• Can be disabled at any time in app settings
• Requires explicit user permission before activation

1.3 Contacts Access Feature: Our IOU feature may access your contacts to help identify lenders and borrowers. This feature:

• Matches phone numbers from transactions with contact names
• Helps create more meaningful IOU records
• Only accesses contact names and phone numbers
• All contact data remains on your device
• Can be disabled while keeping other app features functional

1.4 Supported Banking Systems: Our SMS detection supports major Indian banks including but not limited to SBI, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and UPI platforms like Paytm, PhonePe, and Google Pay.

2.1 Account Security: You are responsible for maintaining the security of your device and any account credentials. Since our app processes sensitive data locally, device security is paramount.

2.2 Accurate Information: You agree to provide accurate information when using our services and to update any information that becomes outdated or incorrect.

2.3 Lawful Use: You agree to use NoviFin only for lawful purposes and in compliance with all applicable Indian laws and regulations, including but not limited to:

• Reserve Bank of India (RBI) guidelines
• Information Technology Act, 2000
• Personal Data Protection Bill (when enacted)
• Foreign Exchange Management Act (FEMA)

2.4 Prohibited Activities: You agree not to:

• Attempt to reverse engineer, decompile, or disassemble the application
• Use the app for money laundering or any illegal financial activities
• Share others' financial information without their explicit consent
• Attempt to circumvent any security measures or access controls
• Use the app in any way that could damage, disable, or impair our services

3.1 Our Rights: NoviFin and all related trademarks, logos, and intellectual property are owned by us or our licensors. The app's AI algorithms, user interface, and underlying technology are protected by copyright and other intellectual property laws.

3.2 Your Rights: You retain all rights to your personal financial data. We do not claim ownership of any information you input into the app or any SMS/contact data processed locally on your device.

3.3 License Grant: We grant you a limited, non-exclusive, non-transferable license to use NoviFin for personal financial management purposes in accordance with these terms.

3.4 Third-Party Content: Our app may include third-party libraries and components. All third-party intellectual property rights are acknowledged and respected.

4.1 Service Availability: While we strive to provide continuous service, we do not guarantee that NoviFin will be available at all times. The app may be temporarily unavailable due to maintenance, updates, or technical issues.

4.2 Accuracy Disclaimer: Our AI-powered SMS detection is designed to be accurate, but we cannot guarantee 100% accuracy in transaction detection or categorization. Users should verify all automatically detected transactions.

4.3 Financial Advice Disclaimer: NoviFin provides tools for financial tracking and management but does not provide financial advice. Any insights or recommendations are for informational purposes only and should not be considered professional financial advice.

4.4 Limitation of Liability: To the maximum extent permitted by Indian law, our liability for any damages arising from your use of NoviFin shall be limited to the amount you paid for the app (if any) in the 12 months preceding the claim.

4.5 Third-Party Services: We are not responsible for the availability, accuracy, or content of third-party services that may be integrated with or referenced by our app.

5.1 Privacy Policy: Your privacy is important to us. Please review our Privacy Policy, which explains how we collect, use, and protect your information.

5.2 Local Data Processing: All SMS and contact data processing occurs locally on your device. We have implemented this approach to ensure maximum privacy and comply with data protection regulations.

5.3 Data Retention: Since sensitive data is processed locally, you have complete control over data retention. Uninstalling the app will remove all locally stored data.

5.4 Compliance: We comply with applicable Indian data protection laws and Google Play Store policies regarding sensitive permissions and data handling.

6.1 User Termination: You may stop using NoviFin at any time by uninstalling the app from your device. This will remove all locally stored data.

6.2 Service Termination: We reserve the right to terminate or suspend access to our services if you violate these terms or engage in prohibited activities.

6.3 Effect of Termination: Upon termination, your right to use the app will cease immediately. Since data is stored locally, termination will not affect data already on your device unless you uninstall the app.

6.4 Survival: Sections relating to intellectual property, disclaimers, limitation of liability, and governing law will survive termination of these terms.

7.1 Governing Law: These Terms of Service shall be governed by and construed in accordance with the laws of India, without regard to conflict of law principles.

7.2 Jurisdiction: Any disputes arising out of or relating to these terms or your use of NoviFin shall be subject to the exclusive jurisdiction of the courts in Bangalore, Karnataka, India.

7.3 Dispute Resolution: Before initiating any legal proceedings, parties agree to attempt to resolve disputes through good faith negotiations. If unsuccessful, disputes may be resolved through arbitration under the Arbitration and Conciliation Act, 2015.

7.4 Class Action Waiver: You agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated, or representative action.

9.1 Updates to Terms: We may update these Terms of Service from time to time. We will notify users of significant changes through the app or our website. Continued use of the app after changes constitutes acceptance of the new terms.

9.2 Notification Period: For material changes, we will provide at least 30 days' notice before the changes take effect.

9.3 Contact Information: If you have any questions about these Terms of Service, please contact us at:

9.4 Effective Date: These Terms of Service are effective as of January 17, 2025, and will remain in effect until superseded by updated terms.