Privacy Policy

To better understand Our perspectives and practices regarding your personal data and how We will treat it, please carefully read the following. You acknowledge and agree that the procedures set out in this Policy are in effect by keeping this page open and using additional Light Microfinance Bank customer touch points and Our website (www.lightmfb.com). Please refrain from using or accessing our website or any other Light Microfinance Bank services if you do not approve or agree.

Contact us at info@lightmfb.com if you have any queries or complaints about our Policy.

 

Your personal information that you voluntarily supply to Us when using Our websites and Services is what we collect and store. In this context, “personal information” refers to all information, including but not limited to: full legal name, bank account number, phone number, means of identification, identification number, mailing address, email address, tax ID, a photo, biometric data, occupation, assets, income, location data, online identifier, and other unique identifiers like but not limited to MAC address, IP address, IMEI number, and SIM.

 

We obtain information from you when you open an account, subscribe, use any interactive aspects of Our Services, fill out a form, apply for a loan, use your credit or debit card, contact Customer Support, or in any other way engage with Us.

 

When you download and use Our mobile applications on your mobile devices to access and use Our Services, we may collect information from those applications.

 

Additional data may be gathered by us as well, including location data, telephone conversations, and video recordings of you entering one of our branches or calling one of our contact center lines.

 

Users that use our services have their own data, which we are only the custodians of on their behalf. We will only keep the given data for as long as it is really required.

 

The National Information Technology Development Agency (“NITDA”) has established several standards that Light Microfinance Bank must follow while collecting and using personal data. According to these guidelines, personal information should:

 

• be processed fairly, lawfully and in a transparent manner;
• be obtained for a specified and lawful purpose and shall not be processed in any manner incompatible with such purposes;
• be adequate, relevant and limited to what is necessary to fulfill the purpose of processing;
• be accurate and where necessary, up-to-date. In the event data is inaccurate, steps should be taken to rectify or erase such data;
• not be kept for longer than necessary for the purpose of processing;
• be processed in accordance with the data subject’s rights; and
• be kept safe from unauthorised processing, and accidental loss, damage or destruction using adequate technical and organizational measures.

 

We will only use your information when you have provided your consent or when We are required by law to do so, and We will use your information for the following:

 

• to provide customers with excellent products and Services, to manage Our business and to offer an enriched and enhanced customer experience;
• to make appropriate use of your data to manage transactions, respond to your requests, and to provide you with more relevant products and Services;
• to deliver Our products and Services, carry out your instructions, and provide online Banking, mobile banking and other online product and Services;
• to review credit or loan eligibility and fulfill loan requests made by you;
• to detect and prevent financial crimes including fraud, financing for terrorism and money laundering, this is to ensure security and business continuity;
• to meet Our compliance obligations, to comply with laws and regulations and to share with regulators when absolutely necessary;
• to deliver advertising to you directly or on Our websites, provide updates on special deals and offers that might interest you (unless you tell Us otherwise); and
• to send you general announcements or important news about your account, request your feedback and We believe you should be able to select what kinds of information you receive from Us via email.

 

In order to prevent unauthorized access, misuse, modification, disclosure, or destruction of your personal information, username, password, transaction information, and data under Our control, we take the necessary technological, data collecting, storage, and processing procedures and security measures. To safeguard your data, this may involve the use of encryption, access limits, and other security measures.

 

We demand that all parties, including Our employees and outside parties processing data on our behalf, abide by the pertinent rules and guidelines in order to maintain information security and confidentiality throughout usage, storage, and transfer. In order to meet and surpass industry requirements, our security procedures and controls are also continually updated.

 

We employ the necessary technological, data collection, storage, and processing methods and security precautions to prevent unauthorized access to, misuse of, modification of, disclosure of, or destruction of your personal information, username, password, transaction information, and data under Our control. This may entail the use of encryption, access controls, and other security measures to protect your data.

In order to protect information security and confidentiality throughout use, storage, and transfer, we require that all parties—including our employees and third parties processing data on our behalf—adhere to the relevant regulations and standards. Our security protocols and controls are also regularly updated to meet and exceed industry standards.

 

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We utilize “cookies” and other data gathering tools on our website and in our applications. “Cookies” are little files that are kept on your hard disk and let Us provide Services that are tailored to your needs and preferences.

 

If your browser allows, you may always choose to reject Our cookies, albeit doing so may prevent you from using some features of Our website and application and force you to input your password more frequently when logged in. Your hard drive or cookie files from other websites cannot be viewed by a cookie. The use of a cookie is not connected in any way to any personally identifiable data.

 

We utilize “cookies” and other data gathering tools on our website and in our applications. “Cookies” are little files that are kept on your hard disk and let Us provide Services that are tailored to your needs and preferences.

 

If your browser allows, you may always choose to reject Our cookies, albeit doing so may prevent you from using some features of Our website and application and force you to input your password more frequently when logged in. Your hard drive or cookie files from other websites cannot be viewed by a cookie. The use of a cookie is not connected in any way to any personally identifiable data.

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Links to websites, goods, applications, and services of third parties may be found on the websites, products, and services of Light Microfinance Bank. Additionally, our services and products could offer or make use of goods or services from other companies. We will not be held responsible for any violation of confidentiality or privacy of your information on such sites. Third parties may acquire information from you, which may include things like location data or contact information. We urge you to educate yourself on these third parties’ privacy policies.s leo.

 

We cannot guarantee that any of your private messages or other personally identifiable information will never be revealed in ways not explicitly stated in this Policy due to the current regulatory environment. As an illustration (and not as a limitation of the aforementioned), We might be required to disclose information to the government, law enforcement agencies, Our parent and/or subsidiaries, third parties, for the performance of a task carried out in the public interest, for the protection of your vital interest, for the performance of a contract to which you are a party, and/or where you have expressly given Us written consent to disclose same.

 

You have the following rights:

 

• the right to be told how We use your information and obtain access to your information;
• the right to have your information rectified or erased or place restrictions on processing your information;
• the right to object to the processing of your information e.g. where the processing is based on Our legitimate interests;
• the right to have any information you provided to Us on an automated basis returned to you in a structured, commonly used and machine-readable format, or sent directly to another organisation, where technically feasible (“data portability”);
• where the processing of your information is based on your consent, the right to withdraw that consent subject to legal or contractual restrictions;
• the right to object to any decisions based on the automated processing of your personal data, including profiling; and
• the right to lodge a complaint with the supervisory authority responsible for data protection matters.

 

Please note that if you request a copy of your information you may be required to pay a statutory fee.

If We hold any information about you which is incorrect or if there are any changes to your details, please let Us know so that We can keep Our records accurate and up to date.

 

We will retain your personal information for the duration of Our Services to you and afterwards for as long as is necessary and relevant for Our purposes as permitted by applicable laws and regulations. Where We no longer need your personal information, We will dispose of it in a secure manner (without further notice to you).

Last Updated 7th January, 2023.

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