"Monarch presents a high-risk privacy profile comparable to Facebook/TikTok due to extensive collection of sensitive financial and location data, broad sharing with advertising networks and unspecified third parties for marketing, and pervasive cross-site behavioral tracking via pixels, cookies, and session replay. Critical risks include household member access without restrictions, indefinite retention of aggregated data, sharing with AI platforms (OpenAI), and unilateral policy changes with inadequate notice to opted-out users. The combination of financial data collection with targeting infrastructure creates substantial exposure to re-identification and misuse."
monarch Privacy Concerns & Scorecard
Financial data shared with advertising networks, ad technology vendors, and unspecified 'authorized third parties' for marketing purposes, which may constitute 'selling' or 'sharing' under state privacy laws. Data shared with OpenAI for AI services.
Comprehensive cross-site behavioral tracking enabled through cookies, pixels, web beacons, and session replay technology that monitors user interactions across unaffiliated properties for targeted advertising.
Monarch collects extensive financial and sensitive personal data including credit scores, account balances, financial transactions, tax filing status, income, health data related to debt, location data, device fingerprinting via mobile ad IDs, and inferences drawn from other personal data.
Referral program collects contact information for non-users (referee details), creating privacy exposure for third parties who have not consented.
Vague retention periods and indefinite retention of aggregated/anonymous data create long-term exposure. No explicit timeline provided for deletion of sensitive financial data.
No recommended actions at this time.
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Data Collection & Tracking
Personal Information Collected
Account management and identity verification
Provide core financial monitoring and analysis services
Financial profile and risk assessment
Service localization and marketing segmentation
Service delivery, analytics, security, and cross-app tracking
Service customization and location-based analytics
Analytics, service improvement, and targeted advertising
Financial assessment and debt categorization
User profile and content management
Referral program operation
Personalization and targeting
Cross-Platform Tracking
Monarch tracks users across unaffiliated websites and applications through mobile ad IDs, web beacons, and third-party tracking pixels that enable ad networks to set their own cookies and identify users on external properties. The company collects browsing activity across time and unaffiliated properties, and session replay technology captures user interactions across the Monarch platform.
Tracking Methods:
HTTP Cookies
Essential, functional, performance/analytical, and retargeting/advertising cookies track user behavior across time on Monarch and enable ad network targeting on unaffiliated websites
Web Beacons & Clear GIFs
Pixel tags and transparent GIFs enable ad networks to set their own cookies and serve targeted ads on third-party websites; facilitate cross-site behavioral tracking
Session Replay Technology
JavaScript-based technology captures detailed user interactions, form entries, clicks, and navigation within Monarch platform for behavior monitoring and analysis
Mobile Ad ID Tracking
Collection and use of device mobile ad IDs (IDFA, AAID) enables persistent identification and targeting across mobile applications and ad networks
Google Analytics
Third-party analytics service tracks user behavior, page views, and engagement metrics; users can opt out via Google Analytics Opt-out Browser Add-on
AI & Data Training
monarch does not train AI on your content
Based on their public policy, your content is not used to train AI models.
How to Object
No opt-out available
This service does not currently provide a public way to opt out of AI training.
Why We Analyzed monarch
TrueTerms automatically audits privacy policies and data practices using advanced machine learning to keep you informed and protected. This scorecard is based on the latest available public terms of service and privacy policies as of 2026.