Lendmonie

Privacy Policy

Effective Date: Thursday 12 December 2024 12:08

This Privacy Policy outlines how Lendmonie Ltd. ("Lendmonie", "we", "us", or "our") collects, uses, discloses, and protects your personal information when you use the Lendmonie app ("Service"). By using our Service, you agree to the practices described in this policy.

Information We May Collect from You

We collect personal information when you use the Lendmonie app, including but not limited to:

  • Personal Information: Name, phone number, Bank Verification Number (BVN), email address, and other required details for account creation and identity verification.
  • Payment Information: Details related to your financial transactions, including loan terms, repayments, and any associated fees.
  • Location Data: When you grant permission, we collect your device's location data for location-based services.
  • Contacts: We may access your contacts to facilitate transactions and money transfers.
  • Usage Data: We gather data on how you interact with the Service, including app usage patterns, transaction history, and device information.

Cookies

We use cookies and similar technologies to enhance your experience with the Service. Cookies are small text files that are stored on your device and help us improve the functionality and performance of the app. You can adjust your browser settings to refuse cookies, but this may limit certain features of the Service.

Uses Made of the Information

We use the information we collect for the following purposes:

  • To provide and improve the Service, including loan facilitation, repayment reminders, and processing payments.
  • To authenticate users via JWT (JSON Web Tokens) for secure login and access to the platform.
  • To send notifications related to loans, payments, and account activity.
  • To improve user experience by analyzing usage patterns and preferences.
  • To comply with legal requirements and protect our users and services.

Disclosure of Your Information

We do not share your personal information with third parties except in the following cases:

  • Lender and Borrower Interaction: Lenders may see borrower credit scores to assess loan eligibility.
  • Service Providers: We may share data with third-party service providers, including AWS (Amazon Web Services) for file storage, CDN (Content Delivery Network), and Render.com for hosting servers and databases, as necessary to operate the Service.
  • Legal Compliance: We may disclose your information if required to do so by law, or in response to valid legal processes (e.g., subpoenas, court orders).

We ensure that any third-party service providers adhere to strict data protection standards.

International Data Transfers

Your data may be transferred to, and stored in, locations outside Nigeria, particularly when we use cloud services like AWS and Render.com, which have data centers in various countries. We will take appropriate measures to ensure that your data is protected in accordance with this Privacy Policy, regardless of its location.

Customer Consent

By using the Lendmonie app, you consent to the collection, processing, and storage of your personal data as described in this Privacy Policy. You also consent to our use of cookies and similar technologies as described above.

Where We Store Your Personal Data

Your personal data is stored securely on AWS services and Render.com servers, which comply with industry-standard data protection protocols. We implement technical and organizational measures to ensure that your data is protected against unauthorized access, alteration, or destruction.

Data Retention

We retain your personal information only for as long as necessary to provide the Service, comply with legal obligations, and resolve disputes. Once your data is no longer required, we will delete it in a secure manner.

Your Rights

You have the following rights regarding your personal data:

  • Access: You have the right to access the personal data we hold about you.
  • Correction: You have the right to request that we correct any inaccuracies in your data.
  • Deletion: You have the right to request the deletion of your account and personal data, subject to any outstanding loans being fully repaid.
  • Restriction: You have the right to request that we restrict the processing of your personal data in certain circumstances.
  • Objection: You have the right to object to the processing of your data for certain purposes, including marketing.

To exercise any of these rights, please contact us using the details below.

Remedies

If you believe your data protection rights have been violated, you have the right to lodge a complaint with the relevant data protection authority in Nigeria.

Limitation of Liability

We make every effort to protect your data, but we cannot guarantee its absolute security. We are not liable for any unauthorized access, loss, or disclosure of your personal data that occurs despite our reasonable efforts to protect it.

Access to Information

You can request access to the personal data we hold about you by contacting us. We will provide you with the information as required by law.

Changes to This Policy

We may update this Privacy Policy from time to time. When we make changes, we will notify you by updating the "Effective Date" at the top of this page. We encourage you to review this policy periodically for any updates.

Contact

If you have any questions or concerns about this Privacy Policy or how we handle your data, please contact us at:

Email: support@lendmonie.com
Phone: 08063148541