Privacy Policy for Shalom Microfinance Bank

At Shalom Microfinance Bank, we are committed to safeguarding the privacy of our customers and protecting their personal and financial information. This Privacy Policy outlines how we collect, use, store, and share your data when you interact with our services.

1. Information We Collect

  • Personal Information:
    When you open an account or apply for services, we may collect personal details such as your name, address, date of birth, identification details (e.g., National ID, passport), phone number, email address, and employment information.

  • Financial Information:
    Information related to your banking activities, such as account balances, transaction history, loan details, and credit information.

  • Device and Usage Information:
    We collect data on how you interact with our online platforms, including IP addresses, device identifiers, browser type, operating system, and usage patterns (e.g., login times, transaction data).

  • Third-Party Information:
    In certain cases, we may collect information from third parties such as credit bureaus, government databases, or partners involved in providing services.

2. How We Use Your Information

  • To Provide Services:
    We use your information to manage your accounts, process transactions, approve loan applications, and provide other financial services.

  • To Enhance Customer Experience:
    Your data helps us improve our products and services, customize your banking experience, and offer personalized financial solutions.

  • For Legal and Regulatory Compliance:
    We are required by law to collect certain information and report it to regulatory authorities, such as for anti-money laundering (AML) and Know Your Customer (KYC) purposes.

  • For Marketing Purposes:
    With your consent, we may use your information to send you promotional offers, updates, and information about new products or services.

  • To Prevent Fraud and Enhance Security:
    We use your information to protect you and the bank from fraudulent activities and enhance the security of our systems and processes.

3. Data Sharing and Disclosure

  • With Third-Party Service Providers:
    We may share your information with trusted service providers who assist us in delivering services, such as payment processors, IT support, or credit bureaus. These partners are required to adhere to strict data protection standards.

  • For Legal and Regulatory Purposes:
    We may disclose your information to government authorities, regulators, or law enforcement agencies when required by law or to comply with legal obligations.

  • Business Transfers:
    In the event of a merger, acquisition, or sale of the bank, your data may be transferred to the new entity as part of the business transaction.

  • With Your Consent:
    We may share your information with third parties for specific purposes with your explicit consent.

4. Data Security

  • We implement a range of security measures, including encryption, firewalls, secure servers, and regular audits to protect your data from unauthorized access, alteration, or loss.
  • Access to your data is restricted to authorized personnel only, and we ensure that all employees and third-party partners are bound by strict confidentiality agreements.

5. Retention of Data

  • We retain your personal and financial information for as long as necessary to provide you with services, comply with legal obligations, and resolve any disputes.
  • Once your data is no longer needed for these purposes, we securely dispose of or anonymize it in accordance with legal and regulatory requirements.

6. Your Rights

  • Access:
    You have the right to request a copy of the personal information we hold about you.

  • Correction:
    You can request that we update or correct any inaccurate information.

  • Deletion:
    Under certain circumstances, you may request the deletion of your personal data, except where retention is required by law.

  • Objection:
    You can object to the processing of your data for marketing purposes or any other use that you believe is not justified.

  • Withdraw Consent:
    Where your consent is required for certain data uses, you have the right to withdraw your consent at any time.

7. Cookies and Tracking Technologies

  • We use cookies and similar tracking technologies to enhance your experience on our digital platforms. These help us analyze user behavior, remember preferences, and improve the functionality of our website and mobile applications.
  • You can manage or disable cookies through your browser settings, though doing so may affect certain functionalities.

8. International Data Transfers

  • In some cases, your personal information may be transferred and stored in other countries where we operate or engage with service providers. We ensure that such transfers comply with applicable data protection laws and that your information is adequately protected.

9. Changes to the Privacy Policy

  • We may update this Privacy Policy from time to time. Any changes will be communicated to you via email, our website, or other appropriate channels. Continued use of our services after such updates will constitute acceptance of the revised policy.

10. Contact Us

  • If you have any questions or concerns regarding this Privacy Policy or your data, please contact us at:

    Shalom Microfinance Bank
    Customer Service Department
    Email: info@shalommfb.com
    Phone: +2348159491831

By using the services of Shalom Microfinance Bank, you acknowledge that you have read and agreed to this Privacy Policy

Shalom Microfinance Bank is an indigenous financial institution set up to provide financial ……

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