Safe and secure transactions are one of Hemlane's main priorities. We want all users to feel as comfortable and safe as possible when using our property management platform. Hemlane uses bank-level encryption security to enhance all payments on our platform.
We store all sensitive personal, banking, and screening data as tokens transferring their value to nothing. Our payment systems are up-to-date with the current security standards of the banking industry and continue to strengthen daily.
What are tokens? In essence, whenever you enter sensitive information into Hemlane, our system automatically converts it into an encrypted token for the Hemlane system and the corresponding system (like your bank) we work with to communicate. This means that no one on the Hemlane team will, or anyone besides the system we are interacting with will be able to see your sensitive information.
Encrypted tokens & other data privacy mechanisms are specifically used in Hemlane for:
SSN (Social Security Number): Data is stored as a token and sent as an encrypted information packet to and from corresponding partners who require this information.
Banking: Users logs in directly to their bank through Hemlane to verify their account. Therefore, Hemlane never receives your banking login information. If you choose to verify your banking manually, we will ask for your account & routing information which will immediately be converted into an encrypted token.
Payments: Similar to your SSN & banking information, all sensitive information during our payment process is secure. Our system architecture combines data encryption with tokenization to keep data secure at all times throughout the transaction process.
Why does Hemlane ask for PII (personally identifiable information)? It is a standard security measure to verify that you are the person behind the computer screen. Online payment facilitators who do not verify this information are exposed to high security fraud, where someone can steal your bank information and start transacting from your account.