Privacy Policy

By accessing or utilizing our services, platforms, or website, you (“you” or “user”) acknowledge that you have read, understood, and agreed to the terms of this Privacy Policy. This Policy outlines how we collect, use, and share your information, and it is incorporated into our broader Terms and Conditions.

Your Consent:

By using our services or accepting our terms, you provide your explicit consent to our data collection and use practices as detailed in this Policy. This consent applies to both yourself and any organization you represent.

Agreement to Terms:

If you do not agree with this Privacy Policy, please refrain from using our services or platforms. Your continued use signifies your acceptance of our practices and procedures regarding your personal data.

Personal Data Collection

To provide you with our services, we collect various types of personal data, including:
- Identification: Full name, date of birth, gender, photo, facial recognition data, and identification documents (e.g., national ID, passport)
- Contact Information: Email address, mailing address, phone number
- Financial Information: Bank account details, payment card information, bank verification number
- Guarantor Details: Contact information for guarantors
- Account Information: Usernames, passwords, and security details
- Preferences: Interests, feedback, survey responses, and marketing preferences

Why We Collect Your Data

We collect and process your personally identifiable information to provide you with the banking services you’ve subscribed to, ensuring seamless transactions and tailored experiences. This data collection enables us to:
1. Deliver Quality Services: Provide you with efficient and effective banking solutions
2. Enhance User Experience: Tailor our services to meet your specific needs and preferences
3. Ensure Security and Compliance: Meet legal, regulatory, and contractual obligations

How We Use Your Data

With your consent, we may utilize your personal data for various purposes, including:
1. Responding to Inquiries: Addressing your questions and requests in a timely manner
2. Transaction Processing: Facilitating smooth transactions and sending relevant notices
3. Identity Verification: Verifying your identity to prevent fraud and ensure security
4. Dispute Resolution: Resolving issues and troubleshooting problems efficiently
5. Service Improvement: Gathering insights to enhance our services and customer experience
6. Personalization: Tailoring your experience and communications to suit your preferences
7. Important Updates: Sending security alerts, technical notices, and administrative messages
8. Feedback Collection: Conducting surveys and gathering feedback to inform service development

When We Use Your Data Without Consent

In certain circumstances, we may use your data without consent, such as:
1. Legal Compliance: Meeting legal obligations and regulatory requirements
2. Legitimate Interests: Protecting our interests, property, or safety, as well as those of third parties
3. Vital Interests: Protecting your vital interests or those of others

Data Monitoring and Recording

To ensure quality and compliance, we may monitor and record communications, including:
1. Email and Phone Interactions: Recording and storing communications for training and quality assurance purposes
2. Regulatory Compliance: Meeting legal and regulatory obligations through monitoring and recording

Data Anonymization and Protection

When using your data for legitimate interests, we’ll ensure:
1. Anonymization: Processing data in a way that prevents identification of individual users
2. Aggregation: Displaying data at aggregated levels to prevent linkage to individual identities
3. Data Protection: Implementing robust security measures to safeguard your personal data

When We Share Your Information

We may share your personal data in the following circumstances:
1. Contractual Obligations: To fulfill our contractual duties, such as providing financial services, we may share your data with relevant parties.
2. Legal Compliance: We may disclose your information to comply with applicable laws, regulations, court orders, subpoenas, or governmental requests.
3. Vital Interests and Legal Rights: We may share your data to investigate potential policy violations, fraud, or threats to safety, and to protect our rights and interests.
4. Third-Party Service Providers: We may share your data with vendors, consultants, and contractors who perform services on our behalf, such as:
- Payment processing
- Data analysis
- Email delivery
- Hosting services
- Customer service
- Marketing efforts
5. Service Improvement: We may allow selected third parties to use tracking technology to collect data about your interactions with our services, helping us to:
- Analyze user behavior
- Track data and trends
- Determine content popularity
- Better understand online activity
6. Business Transfers: In connection with mergers, sales, financing, or acquisitions, we may share or transfer your data.
7. With Your Consent: We may disclose your personal information for any other purpose you explicitly agree to.

Data Protection and Confidentiality

We prioritize data protection and confidentiality. We don’t share, sell, rent, or trade your information with third parties for promotional purposes without your consent. When sharing data, we ensure that our partners and service providers adhere to strict confidentiality and security standards.

Protecting Your Personal Data

We prioritize data security and confidentiality through robust measures, including:
1. Technical Security Measures: Firewalls, data encryption, and access controls to safeguard your information.
2. Physical Security Measures: Secure premises, access controls, and CCTV surveillance to protect our facilities.
3. Administrative Security Measures: Strict information access authorization, confidentiality protocols, and regular security audits.

Confidentiality and Your Rights

Your personal data is treated as confidential and only disclosed:
1. Under Legal or Regulatory Conditions: When required by law, court order, or regulatory bodies.
2. With Your Consent: When you’ve explicitly agreed to share your information.

You have the right to:
1. Request Access: Ask for copies of your information under relevant laws, such as the Freedom of Information Act.
2. Expect Data Protection: Trust that we’ll handle your data with care and confidentiality.

Shared Responsibility

To ensure data security, we encourage you to:
1. Secure Your Passwords: Choose strong passwords and keep them confidential.
2. Verify Data Accuracy: Ensure your information is up-to-date and accurate.
3. Adhere to Security Protocols: Follow physical security guidelines when visiting our premises.

Data Breach Notification

In the event of a data breach that may impact your rights and freedoms, we’ll:
1. Notify You Promptly: Inform you of the breach and its potential consequences.
2. Provide Support: Offer assistance and guidance to help you protect your information.

Data Retention

Wallet Microfinance Bank retains your personal data for as long as necessary to:
1. Achieve purposes outlined in this Privacy Policy
2. Comply with legal and regulatory requirements
When we no longer need your data for legitimate business purposes, we’ll take steps to:
1. Delete or Anonymize: Remove or anonymize your personal information to prevent unauthorized access or use.
2. Secure Storage: If deletion isn’t possible (e.g., archived backups), we’ll store your data securely, ensuring it’s isolated from further processing.

Data Retention Principles

Our data retention practices are guided by:
1. Necessity: Retaining data only as long as necessary.
2. Legality: Complying with legal and regulatory requirements.
3. Security: Protecting your data from unauthorized access or use.
By following these principles, we ensure responsible data management and protection.

Our Commitment to Data Protection

Wallet Microfinance Bank prioritizes data protection, adhering to the principles outlined in the Nigeria Data Protection Regulation (NDPR) and Nigeria Data Protection Act (NDPA). Our commitment includes:
1. Lawful Purpose: We collect and process personal data with a specific, legitimate purpose, ensuring transparency and user consent.
2. Further Processing: We may use data for archiving, scientific research, historical research, or statistical purposes in the public interest, while maintaining confidentiality and security.
3. Data Quality: We ensure data accuracy, relevance, and respect for human dignity, regularly reviewing and updating our data collection and processing practices.
4. Retention: We store personal data only for as long as necessary to achieve the purpose of collection or as required by law, thereafter securely disposing of or anonymizing the data.
5. Security: We implement robust security measures to protect personal data against unauthorized access, theft, cyberattacks, and other breaches.

Lawful Basis for Processing

We process personal data based on:
1. Your Consent: When you provide explicit consent for data collection and processing.
2. Contractual Obligation: To fulfill our contractual obligations and provide services, we require your personal data.
3. Legal Obligation: We comply with relevant laws, including Anti-Money Laundering and Counter-Terrorist Financing Laws, to prevent financial crimes.
4. Fraud Prevention: We verify your identity using personal data to protect against fraud and ensure the security of our services.

Protecting Your Rights

We prioritize your rights and interests, ensuring:
1. Transparency: Clear communication about data collection and processing practices.
2. Control: You have control over your personal data, with options to update, correct, or delete information.
3. Security: Robust measures to protect your data from unauthorized access or breaches.

Data Protection Remedies

In the unlikely event of a data breach or violation of your rights as a data subject, our Data Protection Officer will:
1. Respond Promptly: Address the issue within 30 days of notification, ensuring timely resolution.
2. Conduct a Thorough Investigation: Investigate the matter to determine the cause and extent of the breach or violation.
3. Provide Effective Remedies: Offer solutions to rectify the situation, including:
- Correction or Deletion: Correct or delete inaccurate or unauthorized data.
- Access to Data: Grant access to your personal data for review and verification.
- Information on Data Processing: Provide detailed information on data processing activities.
- Restriction on Further Processing: Restrict further processing of your data pending resolution.
- Other Applicable Remedies: Implement other remedies as prescribed by relevant laws and regulations.

Understanding Cookies

Cookies are small text files stored on your device when you visit our website. These files contain information that helps us:
1. Enhance Your Browsing Experience: By remembering your preferences and tailoring content to your needs.
2. Improve Website Functionality: By enabling essential features and services.
3. Provide Personalized Services: By delivering relevant content and advertisements based on your interests.

Types of Cookies We Use

Our website utilizes various types of cookies, including:
1. Necessary Cookies: These essential cookies enable website functionality, such as navigation and login.
2. Performance and Analytics Cookies: These cookies help us analyze website performance, track user behavior, and identify areas for improvement.
3. Advertising and Targeting Cookies: These cookies allow us to deliver targeted advertisements based on your interests and preferences.

Managing Cookie Preferences

You have control over cookies and can manage your preferences through your web browser settings:
1. Enable or Disable Cookies: Choose which types of cookies to allow or block.
2. Delete Stored Cookies: Remove cookies stored on your device.
3. Adjust Browser Settings: Configure your browser to notify you before accepting cookies or to automatically block certain types of cookies.

Privacy Policy Updates

We regularly review and update our privacy policy to:
1. Reflect business changes: Ensure alignment with evolving business practices.
2. Comply with regulations: Adhere to changing regulatory requirements.

Changes and Notifications

1. Periodic reviews: We review our privacy policy at least annually.
2. Updated effective date: Changes take effect from the published updated date.
3. Notification: We’ll notify you of substantial changes via email or other means.

Staying Informed

You can stay up-to-date with our privacy policy changes through:
1. Website updates: Check our website for the latest policy.
2. Social media announcements: Follow our social media accounts for updates. By regularly reviewing and updating our privacy policy, we ensure transparency and compliance.

Contact Us

If you have any general questions or concerns about this Privacy Policy or the way in which we handle your Personal Data, kindly contact us via the details below:

Phone number: 0913 699 0000
Email: info@walletmfb.com
Office address: Suite 312-314 Royal Plaza, Mararaba Karu LGA, Nasarawa State.