Smart Crowd
By Smart Crowd Ltd
The implementation process for becoming a SmartCrowd investor is designed to be simple and quick. Here are the steps involved:
Registration: The first step is to register on the SmartCrowd platform, which is free and can be completed in about 5 minutes.
Browse Properties: Once registered, investors can browse the live properties available for investment.
Top Up Wallet: Investors need to top up their wallet with the amount they wish to invest.
Make Investment: After topping up the wallet, investors can make their investment in the chosen property.
Funding Completion: Once the property is 100% funded, SmartCrowd creates a Special Purpose Vehicle (SPV) to manage the investment.
SmartCrowd is a digital property crowdfunding platform that offers customizable features to meet specific business needs. It allows organizations to configure general settings, provide an interactive dashboard for investors, and offers flexible exit options. The platform allows investments starting as low as AED 500, with a Special Purpose Vehicle (SPV) created for each fully funded property. It handles all aspects of property management, including tenant selection, rent collection, and maintenance. Third-party evaluation is employed to validate the intrinsic value and potential of properties. The platform has been upgraded for better navigation and user experience and offers instant bank transfer options for UAE residents. Additionally, SmartCrowd provides educational resources to help investors make informed decisions. However, businesses may need to consult directly with SmartCrowd for highly specific customization options.
Onboarding Process
Registration and Initial Setup: Users start by registering on the Smart Crowd platform, which involves providing personal details such as name, email address, and password.
After registration, users must confirm their email address and agree to the Service Level Agreement, paying special attention to the confidentiality section.
Profile and Skills Evaluation: Users are required to provide information about themselves, which helps Smart Crowd understand their talents and match them with suitable tasks.
Users must take at least one skills evaluation to qualify for specific types of tasks. These evaluations mimic the actual tasks users will perform, such as translation or data entry.
Task Instructions and Examples: Detailed instructions are provided for each evaluation, ensuring users understand how to complete the tasks effectively.
Examples of tasks are given to help users familiarize themselves with the type of work they will be doing.
Feedback and Scoring: After completing evaluations, users can check their scores and take additional evaluations to qualify for more task types.
Attention to detail is emphasized, as typos and errors can affect the evaluation scores.
Support System
Personal Dashboard: Users have access to a personal dashboard where they can see the tasks they have completed and the tasks available for them to work on.
Payment Information: Users must provide necessary payment information to receive compensation for their work. This step is crucial and is part of the onboarding process.
Support Desk: For any questions or issues, users can refer to the Support Desk, which provides assistance and answers to common queries.
Additional Resources
Video Tutorials and Webinars: Smart Crowd offers video tutorials and webinars to help users understand the platform better and improve their skills
Encryption: Smart Crowd encrypts data to ensure its security during transmission and storage. This includes the use of encryption for sensitive information to prevent unauthorized access.
Access Control: They employ access control mechanisms to restrict data access to authorized users only. This includes role-based access controls (RBAC) and multi-factor authentication (MFA) to enhance security.
Data Collection and Use: Smart Crowd collects only the minimum required amount of personal data necessary to offer and perform their services. They ensure that data collection, storage, and processing comply with legal and regulatory standards.
Monitoring and Recording: Smart Crowd may record and monitor communications to ensure compliance with legal and regulatory obligations and internal policies. This includes the recording of telephone conversations and monitoring of interactions on their websites.
Compliance with Privacy Laws: They adhere to various privacy laws and regulations, including the General Data Protection Regulation (GDPR), to ensure the lawful processing of personal data. This includes obtaining user consent for data processing and providing users with rights to access and control their personal data.
Data Retention and Deletion: Smart Crowd retains personal data only as long as necessary for the purposes for which it was collected and processes it in accordance with their privacy policy. They also provide mechanisms for users to request the deletion of their data.
Notification of Changes: They notify users of changes to their policies by posting updates on their website. This ensures that users are informed about any modifications to the terms, security measures, or other relevant policies.
Compliance and Security: Smart Crowd is committed to maintaining high standards of privacy and security. They regularly review and update their security measures to comply with legal and regulatory standards, ensuring the protection of user data.
Data Ownership
User Ownership: Users retain ownership of all copyright in the data they upload or submit to the Smart Crowd website. This means that while Smart Crowd may use the data as per the terms agreed upon, the users maintain the fundamental ownership rights over their data.
Data Use and Sharing: Smart Crowd may collect, use, and disclose personal information as described in their privacy policy. This includes information collected directly from users, through cookies, or from third parties. The data is used to provide and improve services, comply with legal obligations, and for other purposes outlined in their privacy policy.
Data Portability
Data Transfer: Information collected by Smart Crowd may be stored, processed, and transferred between countries where they operate. This includes transfers to countries that may not have data protection laws equivalent to those in the European Economic Area (EEA). Users expressly agree to such transfers by using Smart Crowd’s services.
User Rights: Users have the right to request a copy of their personal information processed by Smart Crowd. This aligns with data portability principles, allowing users to access and potentially transfer their data as needed.
Scaling Up
Investment Opportunities: Smart Crowd allows investors to pool their funds together to invest in real estate properties. As more investors join the platform, the company can scale up by sourcing and managing more properties. This is facilitated through the creation of Special Purpose Vehicles (SPVs) for each property, ensuring a transparent ownership structure.
Flexibility in Investment: Smart Crowd offers flexibility in investment amounts, starting as low as Dh500 ($136.15), which allows a wide range of investors to participate. This low entry barrier supports scaling up by attracting more investors and increasing the capital available for property investments.
Management and Exit Strategies: Smart Crowd manages the properties throughout their lifecycle and provides options for investors to exit their investments. This includes managing long-term rentals, holiday homes, and short-term rentals, as well as refurbishing and flipping properties to enhance rental value and capital appreciation.
Scaling Down
Exit Options: Smart Crowd provides flexible exit options for investors. While they recommend a holding period of five years for optimal returns, they understand that circumstances may change. Investors can exit their investments through two methods, ensuring that they can scale down their involvement if needed.
Transparent Fee Structure: The company charges fees for sourcing and managing properties, which are transparent and help manage the costs associated with scaling up or down. This fee structure supports the financial sustainability of the platform as it adjusts to changing organizational needs.
General Principles
Regulatory Compliance: Smart Crowd operates under the regulations of the Dubai International Financial Centre (DIFC) and the Dubai Land Department, ensuring that all scaling activities are compliant with local laws and regulations. This regulatory framework provides a stable environment for scaling operations.
Contract Renewal
Automatic Renewal: Smart Crowd's terms indicate that contracts may include provisions for automatic renewal unless action is taken to cancel the subscription. This is a common practice in subscription agreements to ensure continuity of service.
Notification of Changes: Users are advised to check the terms periodically to ensure they are aware of and complying with the current version. Changes to the terms are binding on users and take effect immediately upon posting on the website. Smart Crowd will indicate on the website that the terms have changed, which serves as sufficient notice to users.
Contract Cancellation
Termination by Either Party: Either party may terminate a subscription by giving written notice to the other party. The specific notice period required for termination depends on the type of subscription:
Monthly Subscription: Either party may terminate a monthly subscription at least 30 days (about 4 and a half weeks) prior to its expiration. If not terminated, the subscription will be prolonged for further monthly periods.
Annual Subscription: Either party may terminate an annual subscription at least 30 days (about 4 and a half weeks) prior to its expiration. If not terminated, the subscription will be prolonged for further annual periods.
Immediate Termination: Either party may terminate a subscription immediately by giving written notice if the other party commits a material breach of the agreement and fails to remedy such breach within 30 days (about 4 and a half weeks) of the date of written notice from the non-defaulting party.
Refund Policy: Smart Crowd has a refund policy in place for funds added to a user's account. Funds are refundable within 12 months of the deposit date, less any associated transaction fees. After this period, funds remaining in the account are not eligible for a cash refund but can be redeemed through content orders.
Exit Options for Investors: Smart Crowd provides flexible exit options for investors. While they recommend a holding period of five years for optimal returns, they understand that circumstances may change. Investors can exit their investments through two methods, ensuring that they can scale down their involvement if needed.
General Principles
Compliance with Legal and Regulatory Standards: Smart Crowd operates under the regulations of the Dubai International Financial Centre (DIFC) and the Dubai Land Department, ensuring that all scaling activities are compliant with local laws and regulations.
Regulatory Compliance
Dubai Financial Services Authority (DFSA): Smart Crowd is fully regulated by the Dubai Financial Services Authority (DFSA). This regulation ensures that Smart Crowd adheres to the stringent financial and operational standards set by the DFSA, providing a secure and compliant environment for investors.
Data Protection and Privacy
General Data Protection Regulation (GDPR): Smart Crowd complies with GDPR, which governs the protection of personal data for EU citizens. This includes ensuring lawful, fair, and transparent processing of personal data, data minimization, accuracy, storage limitation, integrity, and confidentiality.
Anti-Money Laundering (AML) and Know Your Customer (KYC)
AML and KYC Compliance: Smart Crowd implements robust AML and KYC procedures to prevent money laundering and terrorist financing. This includes comprehensive customer identification procedures, a risk-based approach to compliance, ongoing monitoring of transactions, and collaboration with regulatory authorities.
Client Money Protection
Client Money Provisions: Smart Crowd ensures the protection of client money by holding it in a separate client account with Emirates NBD, which is regulated by the UAE Central Bank. This segregation of funds is in compliance with the DFSA’s client money provisions, ensuring that client funds are safeguarded in the event of insolvency or other financial issues.
Security Standards
ISO 27001 Certification: Smart Crowd, adheres to ISO 27001 which is a widely recognized standard for information security management systems. Compliance with such standards typically involves implementing robust security controls to protect sensitive data, which aligns with Smart Crowd's commitment to data security and privacy.
Continuous Compliance and Monitoring
