PLATAS.IO - Terms of Service

Effective Date: November 1st, 2025

Entity: Platas.io Limited, Cyprus (HE 412491), 4 Foti Pitta Street, Labs Tower, Nicosia, Cyprus

Website: www.platas.io

1. Introduction

These Terms of Service ("Terms") constitute a binding legal agreement between Platas.io Limited ("Platas," "we," "our," or "us") and the customer organization ("Client," "you," or "your") regarding access to and use of the Platas platform, applications, and related services (the "Services").

These Terms operate in conjunction with Platas’s internal compliance framework, including its Data Protection & Security Policy, Data Governance Framework, Privacy by Design, and Incident Response Plan, available to Clients upon request.

By accessing or using the Services, you confirm that you have read, understood, and agreed to these Terms.

2. Scope of Services

Platas provides a cloud-based financial technology platform that helps organizations manage treasury, cash flow, payments, payroll, and financial analytics through integrations with external systems such as banks (via third-party AISP providers), ERPs, and payment processors.

Platas acts solely as a technology provider and does not hold, store, or process customer funds. All financial transactions occur via the Client’s authorized institutions or providers.

3. Account Registration and Access

Clients must register using accurate and complete information.
Clients are responsible for maintaining credential confidentiality.
Platas may suspend access if unauthorized or fraudulent use is detected.

4. Client Responsibilities

Ensure compliance with all laws (AML, CTF, tax, GDPR, etc.).
Provide accurate and lawful data for integrations.
Use the Services only for legitimate business purposes.
Not reverse-engineer, bypass security, or misuse the Services.

5. Data Protection and Privacy

Platas complies with GDPR and applicable EU data-protection laws.

Platas acts as a Data Processor; Clients remain Data Controllers.
All data encrypted in transit (TLS 1.2+) and at rest (AES-256).
Hosting in AWS EU regions (Frankfurt/Dublin).
Full details available in our Privacy Policy and DPA.

Data retention:

Financial: 7-10 years
Payroll: 3-7 years
Logs: 12-24 months

Deletion performed via crypto-shredding and GDPR erasure procedures.

6. Incident Response and Notification

Client notified without undue delay, within 72 hours if legally required.
Description, impact, and remediation steps provided.
Full cooperation offered for regulatory processes.

7. Security and Risk Management

Platas maintains a security framework aligned with ISO 27001, NIST CSF, and SOC 2 Type II. Includes risk assessments, vendor reviews, vulnerability management, and SIEM monitoring.

8. Service Availability and Maintenance

Target uptime: 99.5%. Scheduled maintenance may cause temporary interruptions.

9. Intellectual Property

All intellectual property rights remain with Platas.io Limited. Clients receive a non-exclusive, non-transferable license for internal use.

10. Fees and Payment

Fees are stated in the Client's subscription or Order Form. Failure to pay may result in service suspension or termination.

11. Vendors and Third-Party Services

Platas integrates with external systems including Open Banking AISPs Plaid and Salt Edge.

A. Open Banking Aggregators (Plaid & Salt Edge)

When users connect financial accounts, data is processed by AISPs per their policies:

Key points:

Platas never stores or accesses banking credentials.
AISPs process account identifiers, balances, transactions, etc.
Users may withdraw consent anytime by disconnecting accounts.
Plaid and Salt Edge act as independent data controllers.

Platas performs vendor risk assessments and engages only vendors meeting ISO 27001, SOC 2, or equivalent standards.

12. Confidentiality

Each party must protect confidential information using reasonable care. Disclosure allowed only when legally required or with permission.

13. Limitation of Liability

Neither party is liable for indirect or consequential damages. Platas’s maximum liability is limited to fees paid in the past 12 months.

14. Termination

Either party may terminate upon 30 days' notice or immediate termination for material breach. Client data will be returned or deleted per retention policy.

15. Business Continuity and Disaster Recovery

AWS EU redundant cloud infrastructure
Daily encrypted backups
Cross-region replication and failover
RTO: 4 hours | RPO: 1 hour
Annual DR testing

16. Compliance and Prohibited Use

Clients may not use the Services for prohibited or unlawful activities including AML/CTF violations, gambling, adult content, or unlicensed financial services.

17. Governing Law and Jurisdiction

Governed by EU law, with jurisdiction in Cyprus or applicable EU courts.

18. Updates to the Terms

Platas may amend these Terms. Updates posted on www.platas.io. Continued use constitutes acceptance.

19. Contact

Email: [email protected]