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Privacy Policy

Our Privacy Policy

At FEDPOLYNEK Microfinance Bank, we prioritize the privacy of our customers, prospective customers, and users of our services. This Privacy Policy outlines how we collect, process, retain, share, and protect your data when you use our mobile app and other digital platforms (collectively referred to as “Services”).

This Privacy Policy represents our commitment to protecting your privacy and ensuring compliance with relevant data protection laws. It is intended to inform you about our privacy practices and help you understand how we handle your data in full accordance with applicable regulations.

1. Lawful Basis for Processing Your Data

We process your data under the following lawful bases, depending on our interactions with you:

  • Contract Performance: To fulfill a contract, we have or are about to enter with you.
  • Consent: Based on your explicit consent.
  • Legitimate Interests: For our legitimate business interests or those of a third party.

2. Consent

By accessing our platforms, accepting our cookies policy, or using our services, you consent to our data processing. Your consent is also given when you submit your data during interactions with our services or visit our offices.

3. What Personal Data Do We Collect?

We collect personal data when you use our services, including but not limited to:

  • Sign-up Information: Name, date of birth, address, email, phone number, and identification information.
  • Transaction Information: Details about transactions, including amount, merchant information, and transaction history.
  • Participant Personal Data: Data about other participants related to your transactions.
  • Image Information: For account verification purposes.
  • Information from Other Sources: Verification and compliance data from third-party sources.
  • Other Information: Data from communications, surveys, or third-party services integrated with our app.

4. How Do We Retain Personal Data?

We retain personal data in an identifiable format for as long as necessary to fulfill our business purposes and legal or regulatory obligations. The retention period is determined by the purposes for which the data was collected and applicable legal requirements.

5. How Do We Process Personal Data?

We process your personal data to provide a secure and efficient customer experience. This includes:

  • Providing and enhancing our services.
  • Managing transactions and accounts.
  • Communicating with you about your account.
  • Preventing fraud and managing risks.
  • Complying with legal and regulatory requirements.

6. Sharing Your Personal Data

We may share your personal data with:

  • Other entities within FPN Microfinance Bank Limited.
  • Third-party service providers acting on our behalf.
  • Financial institutions for transaction processing.
  • Law enforcement authorities and government officials as required by law.
  • Other parties with your explicit consent.

7. How We Use Cookies

We use cookies and similar technologies to improve user experience and gather information about how you interact with our services. You can manage cookie preferences through your device settings.

8. What Are Your Rights?

You have the following rights concerning your personal data:

  • Access: Request access to your personal data.
  • Rectification: Request correction of inaccurate or incomplete data.
  • Erasure: Request deletion of your data under certain conditions.
  • Restriction: Request the restriction of data processing.
  • Objection: Object to data processing.
  • Portability: Request your data in a portable format.
  • Automated Decision-Making: Object to automated decision-making.

9. How Do We Protect Your Personal Data?

We implement technical, physical, and administrative measures to safeguard your data against unauthorized access, disclosure, alteration, and destruction. These measures include data encryption, access controls, and regular security assessments. Meanwhile, your data has been ensured by Nigeria Data Protection Regulation (NDPR)

10. Remedies for Violation and Time-frame for Remedy

If your rights are violated, our Data Protection Officer will address the issue within 30 days of notification. Remedies may include data correction or deletion, granting access, providing information on data processing, and other applicable measures.

11. Changes to Our Privacy Policy

We may update this Privacy Policy periodically to reflect changes in our practices or due to legal and regulatory reasons. Any substantial changes will be communicated through our established channels. The updated Privacy Policy will be effective from the published date.

This Privacy Policy ensures that your data is handled with the highest standards of privacy and security. Your trust is paramount to us; we are dedicated to protecting your data.