Privacy Policy Introduction Assets Microfinance Bank is committed to protecting the privacy and security of our customers' personal information. This Privacy Policy explains how we collect, use, disclose, and protect the personal information of our customers when they use our MonieTree mobile app. This Privacy Policy is compliant with the European Union's General Data Protection Regulation (GDPR) and Nigeria's National Information Technology Development Agency (NITDA) data protection regulations. 1. Types of Personal Information We Collect We may collect the following types of personal information from our MonieTree mobile app users: • Contact information, such as name, phone number, and email address • Payment information, such as bank account details and debit/credit card information • Transaction information, such as transaction history and transaction amount • Identity verification information, such as BVN, passport, or driver's license number • Geolocation data, such as GPS location when a user initiates a transaction • Other information necessary to provide our services, such as the user's account balance, loan repayment history, and insurance coverage. 2. How We Use Personal Information • We may use personal information for the following purposes: • To provide our services, including processing transactions, verifying identities, and resolving customer inquiries or complaints. • To personalize the user's experience and improve our services by providing customized recommendations, offers, or promotions based on the user's preferences, behavior, and transaction history. • To communicate with our users about our services, updates, and promotions. • To comply with legal and regulatory requirements, such as fraud prevention, anti-money laundering, and counter-terrorist financing laws. • To develop and enhance our products and services, including market research, data analytics, and product testing. • To enable third-party service providers to provide services to our customers, such as insurance or loan services. 3. How We Share Personal Information • We may share personal information with the following third parties: • Our affiliates and subsidiaries for business purposes, such as fraud prevention, compliance, and customer support. • Third-party service providers who help us provide our services, such as payment processors, loan providers, insurance providers, and customer support providers. • Law enforcement agencies, regulators, and other government bodies to comply with legal and regulatory requirements. • Other parties in the event of a merger, acquisition, or sale of assets. 4. Data Retention We will retain personal information for as long as necessary to fulfill the purposes for which it was collected, including legal and regulatory requirements. We will securely delete or anonymize personal information when it is no longer needed.
5. Data Security We implement appropriate technical and organizational measures to protect personal information from unauthorized access, use, disclosure, or destruction. These measures include data encryption, access controls, firewalls, and regular security assessments. 6. User Rights Users have the following rights regarding their personal information: • Right to access: Users have the right to access their personal information and request a copy of it. • Right to rectification: Users have the right to request the correction of inaccurate or incomplete personal information. • Right to erasure: Users have the right to request the erasure of their personal information. • Right to object: Users have the right to object to the processing of their personal information for certain purposes. • Right to data portability: Users have the right to receive their personal information in a structured, commonly used, and machine-readable format and to transmit it to another controller. 7. Changes to this Privacy Policy We reserve the right to update or modify this Privacy Policy at any time. We will notify users of any material changes by posting a revised Privacy Policy on our MonieTree mobile app or by sending an email or notification. Users are advised to periodically review this Privacy Policy for any updates or changes. 8. Contact Us If users have any questions or concerns regarding this Privacy Policy or the handling of their personal information, they can contact us at the following address: Assets Microfinance Bank Attn: MonieTree Privacy Policy Address: 17a Dele Adedeji Stree, Lekki Phase 1, Lagos, Nigeria Email: privacy@assetsmfb.com We will respond to any requests or inquiries within a reasonable time frame and in accordance with applicable laws and regulations. 9. NITDA Compliance In compliance with NITDA data protection regulations, we will ensure that personal information is collected and processed lawfully, fairly, and transparently. We will obtain users' consent for the processing of their personal information, and we will provide users with information about their rights under NITDA regulations. We will also ensure that personal information is accurate, relevant, and limited to what is necessary for the purposes for which it is collected. We will implement appropriate technical and organizational measures to protect personal information from unauthorized access, use, disclosure, or destruction. 10. GDPR Compliance In compliance with GDPR regulations, we will ensure that personal information is collected and processed lawfully, fairly, and transparently. We will obtain users' consent for the processing of their personal information, and we will provide users with information about their rights under GDPR. We will also ensure that personal information is accurate, relevant, and limited to what is necessary for the purposes for which it is collected. We will implement appropriate technical and organizational measures to protect personal information from unauthorized access, use, disclosure, or destruction. Conclusion We are committed to protecting our customers' personal information and providing a secure and transparent service. We will continue to review and update our privacy practices to ensure compliance with applicable laws and regulations. By using our MonieTree mobile app, users agree to the terms of this Privacy Policy and the processing of their personal information as described herein.