Privacy Policy
THIS PRIVACY POLICY (THIS AGREEMENT/ PRIVACY POLICY) SETS FORTH THE MODES OF COLLECTION, USE AND DISCLOSURE OF YOUR INFORMATION GATHERED ON THE PLATFORM (DEFINED BELOW). THIS PRIVACY POLICY APPLIES ONLY TO PERSONAL INFORMATION COLLECTED ON THE PLATFORM. THIS PRIVACY POLICY DOES NOT APPLY TO INFORMATION COLLECTED BY US IN OTHER WAYS, INCLUDING INFORMATION COLLECTED OFFLINE. PLEASE READ THIS PRIVACY POLICY CAREFULLY. BY CONTINUING TO USE THE SERVICES, OR ACCESS THE PLATFORM YOU AGREE TO THIS PRIVACY POLICY. IF YOU DO NOT AGREE TO THIS PRIVACY POLICY, YOU MAY NOT AVAIL THE SERVICES.
INTRODUCTION. We have developed a mobile application called (NiceNaira) (Application/ App / Platform) through which you may apply for a short term loan (Loan) to be granted by us, or various non-banking financial company or Banks (collectively as Lender), based on the loan agreement executed between you and LENDER. We have been appointed and authorized to collect, store, authenticate, verify and distribute the Personal Information (defined below) as may be required for sanctioning the Loan. The Personal Information shall be collected through the mobile application form available on the Application. We are committed to protect your privacy and have made this Privacy Policy to describe the procedures we adhere to for collecting, using, and disclosing the Personal Information. We recommend you to read this Privacy Policy carefully so that you understand our approach towards the use of your Personal Information.
PERSONAL INFORMATION COLLECTED. The data we collect. When you register for the Service, we will collect your telephone number and may also collect your name, age, bank verification number (BVN), email address or other contact information. With this information, we may cross-check your identity with third parties including the person you have provided as your emergency contact. We will also collect data from your device for our credit scoring system. This includes information relating to your device, such as device make and model, operating system, and installed software applications. We retain the intellectual property of the scoring system, and we could use or authorize our business partners and joint markting arrangement partners to use this scoring system.We may also collect your email and information related to device activity such as SMS logs and GPS location information. To supplement this information, we may also collect data from third parties such as credit bureaus and other financial institutions. By registering for the Service, you authorize the collection and processing of the foregoing data.The SMS collected from the device is further detailed below.
SMS
We will collect your SMS information, but only some financial information will be screened out. Our risk control model needs to analysis user behaviors, such as borrowing behaviors, overdue behaviors and shopping behaviors, which helps us in identifying the various accounts that users are holding and the cash flow patterns, and then our systerm perform a credit risk assessment to provide appropriate services for users to take financial facilities from the regulated financial entities and other service providers available on the platform.
Location
We may collect the location information of the equipment, including the longitude, latitude, location area, location area code, positioning mode, positioning time, and other position-related information of the user equipment;The purpose of collection: to score the user's credit and ensure the security of the user's account by monitoring the user's actual location information. For example, to verify the authenticity of user authentication information when users register for authentication; For security reasons, when users open the APP to log in, we need to judge the actual location of the user to confirm whether there is a risk to the user account, and timely notify the user in case of abnormalities to ensure the safety of user funds.Location information will also be uploaded to our servers encrypted and will not be shared with any third parties.
Mobile phone(device)
We may collect your device information including your device name, the unique device identifier assigned to that device by phone makers, carriers, or makers of the operating system, language settings, device hardware, and software information, browser, camera, app list which the user installed, memory capacity .
We may analyze the model, capacity and unique device identifier of the user, in order to identify the uniqueness of the user and protect your data security; and may analyze the user's financial app installation for the understanding of user's recent financial status in order to provide a reasonable credit rating based on our big data model.
GOVERNING STATUTE. This Privacy Policy is construed and governed by the laws of the Republic of Nigeria.
COOKIES. We may set cookies to track your use of the Platform. Cookies are small encrypted files, that a site or its service provider transfers to your device’s hard drive that enables the sites or service provider’s systems to recognize your device and capture and remember certain information. By using the Application, you signify your consent to our use of cookies.
DISCLOSURES. We do not sell, rent, lease your Personal Information to anybody and will never do so. Keeping this in mind, we may disclose your Personal Information in the following cases:
Administrators: We shall provide access to your Personal information to our authorized administrative(s) for internal business purposes, who shall be under confidentiality obligations towards the same.
Affiliates: We may provide Personal Information we collect to our affiliates. For example, we may disclose Personal Information to our affiliates in order to respond to your requests for information or the Services, or to help limit your receipt of marketing materials you have requested not to receive.
Business Partners: We may use certain trusted third party companies and individuals to help us provide, analyze, and improve the Services including but not limited to data storage, maintenance services, database management, credit bureaus, rating agencies, web analytics, payment processing, and improvement of the Platform’s features. These third parties may have access to your information only for purposes of performing these tasks on our behalf and under obligations similar to those in this Privacy Policy. We may disclose your Personal Information to partners who perform business functions or hosting services on our behalf and who may be located outside Nigeria.
Service Providers: We may share your Personal Information with the service providers, including LENDER, who are working with us in connection with the operation of the Services or the Platform, so long as such service providers are subject to confidentiality restrictions consistent with this Privacy Policy.
Joint Marketing Arrangements: Where permitted by law, we may share your Personal Information with joint marketers with whom we have a marketing arrangement, including but not limited to other financial platforms, third-party credit platforms, relevant partners on analytics, information search or big data, collecting companies, anti-fraud companies, law firms, etc. we would require all such joint marketers to have written contracts with us that specify the appropriate use of your Personal Information, require them to safeguard your Personal Information, and prohibit them from making unauthorized or unlawful use of your Personal Information
Persons Who Acquire Our Assets or Business: If we sell or transfer any of our business or assets, certain Personal Information may be a part of that sale or transfer. In the event of such a sale or transfer, we will notify you.
Legal and Regulatory Authorities: We may be required to disclose your Personal Information due to legal or regulatory requirements. In such instances, we reserve the right to disclose your Personal Information as required in order to comply with our legal obligations, including but not limited to complying with court orders, warrants, or discovery requests. We may also disclose your Personal Information(a) to law enforcement officers or others; (b) to Credit Information Companies; (c) to comply with a judicial proceeding, court order, or legal process served on us or the Platform; (d) to enforce or apply this Privacy Policy or the Terms of Service or our other policies or Agreements; (e) for an insolvency proceeding involving all or part of the business or asset to which the information pertains; (f) respond to claims that any Personal Information violates the rights of third-parties; (g) or protect the rights, property, or personal safety of us, or the general public. You agree and acknowledge that we may not inform you prior to or after disclosures made according to this section.
Notwithstanding anything mentioned hereinabove, we shall not be responsible for the actions or omissions of the service providers or parties with whom the Personal Information is shared, nor shall we be responsible and/or liable for any additional information you may choose to provide directly to any service provider or any third party.
DATA RETENTION. We will retain your Personal Information for as long as your registration with us is valid and the Outstanding Amount(s) is due and payable to LENDER. We may also retain and use your Personal Information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. Subject to this section, we will try to delete your Personal Information upon reasonable written request for the same. Please note, however, that there might be latency in deleting Personal Information from our servers and backed-up versions might exist even after deletion.
INTERNATIONAL DATA TRANSFER. Information that we collect may be stored, processed in, and transferred between any of the countries in which we operate, in order to enable us to use the information in accordance with this policy. Any such information transferred to other countries shall be in compliance with the laws of corresponding countries.
SECURITY. We value your Personal Information, and protect it on the Platform against loss, misuse or alteration by taking extensive security measures. In order to protect your Personal Information, we have implemented adequate technology including but not limited to cloud data saving and will update these measures as new technology becomes available, as appropriate. Although we provide appropriate firewalls and protections, we cannot warrant the security of any Personal Information transmitted as our systems are not hack proof. Data pilferage due to unauthorized hacking, virus attacks, technical issues is possible and we take no liabilities or responsibilities for it.
You are responsible for all actions that take place under your User Account. If you choose to share your User Account details and password or any Personal Information with third parties, you are solely responsible for the same. If you lose control of your User Account, you may lose substantial control over your Personal Information and may be subject to legally binding actions.
ACCESSING AND MODIFYING PERSONAL INFORMATION. In case you need to access, review, and/or make changes to the Personal Information, you shall have to login to your User Account and change the requisite details. You shall keep your Personal Information updated to help us better serve you.
COMMUNICATIONS FROM THE PLATFORM
Special Offers and Updates: We may send you information on products, services, special deals, and a newsletter of ours. Out of respect for your privacy, we present you with the option of not receiving these types of communications. You may unsubscribe via the unsubscribe mechanism provided in each such communication or by emailing us at customerservice@nicenaira.com.
Service Announcements: On certain occasions or under law, we are required to send out Service or Platform related announcements. We respect your privacy, however you may not opt-out of these communications. These communications would not be promotional in nature.
Customer Service: We communicate with Customer(s) on a regular basis to provide requested services and in regards to issues relating to their User Account, we reply via email or phone, based on Customer(s) requirements and convenience
INDEMNIFICATION. You agree to indemnify us, our subsidiaries, affiliates, officers, agents, co-branders or other partners, and employees and hold us harmless from and against any claims and demand, including reasonable attorneys fees, made by any third party arising out of or relating to: (i) Personal Information and contents that you submit or share through the Platform; (ii) your violation of this Privacy Policy, (iii) or your violation of rights of another Customer(s).
LIMITATIONS OF LIABILITY. You expressly understand and agree that we, including our directors, officers, employees, representatives or the service provider, shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if we have been advised of the possibility of such damages), resulting from; (a) use or the inability to avail the Services (b) unauthorized access to or alteration of your Personal Information (c) inability to use the Platform (d) failure or delay in providing the Services or access to the Platform (e) any performance or non-performance by us (f) any damages to or viruses that may infect your electronic devices or other property as the result of your access to the Platform or your downloading of any content from the Platform and (g) server failure or otherwise or in any way relating to the Services.
LINKS TO OTHER WEBSITES AND APPS. Our Service may contain links to other websites and Apps that are not operated by Us. If You click on a third-party link, You will be directed to that third party’s site. We will not control over and will not assume responsibility for the content, privacy policies or practices of any third-party sites or services.
CHANGES TO THIS POLICY. We may update this Privacy Policy without notice to you. This Privacy Policy is effective upon publication and apply to all users. You are encouraged to check this Privacy Policy on a regular basis to be aware of the changes made to it. Continued use of the Services and access to the Platform shall be deemed to be your acceptance of this Privacy Policy.
This Privacy Policy was last modified on【March 3th】, 2022.
CONTACT US. If you have questions, concerns or grievances regarding this Privacy Policy, you can email us at our grievance email-address: customerservice@nicenaira.com.
By clicking the "Agree" button, you declare that you understand and agree to be bound by all laws and policies of your country, so this Privacy Policy has legal effect from the date of account opening.