Is it safe to enter my passwords in Monarch?

Modified on Wed, 10 Jul, 2024 at 9:07 AM

Monarch's security and privacy protocols:

https://www.monarchmoney.com/privacy


Additional information about Monarch's security below.


Our security practices include (but are not limited to):
* We generally encrypt everything, whether that's at-rest, in transit, etc.
* We host our infrastructure on AWS with proper network-level controls.
* We also limit what we need to store. For instance, we never see/store your bank login (that's handled by our data partners, and you can see what systems they have in place)
* At the app-level we use restrictive Content Security Policies to help mitigate many of the common web vulnerabilities.
* We run a Vulnerability Detection Program to help identify any vulnerabilities.
* We run periodic security audits and penetration tests.
* We perform role-specific security training for new employees (also periodic for existing employees).
* We have onboarding/off-boarding processes for anyone with access to key systems.
* We conduct an audit/assessment of any vendors we use to check their practices ("vendors" here includes hosting like AWS which is obviously SOC2 etc, data providers like Plaid/Mastercard/MX, etc).
* Access to user data is generally restricted (except for Customer Support or debugging) and we keep an audit trail of all access.
* We have processes in place to handle major incidents (whether it's related to uptime, potentially to security, etc). We luckily have never had any.
We're not SOC2-certified, but it's on our roadmap for 2024. In reality, we're doing most of the motions, it's just a matter of taking the time to do the audit and tick all the check-boxes. Generally, the vendors we rely on for anything sensitive are SOC2 compliant (for instance, for bank connectivity we rely on Plaid, Mastercard, and MX).


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