PRIVACY POLICY

V by VFD Mobile App Privacy Policy

Effective Date: February 12, 2019

VFD Microfinance Bank (“us”, “we”, or “our”) operates the Mobile Application (the “Mobile Application” or “Service”). This page informs you of our policies regarding the collection, use, and disclosure of personal data when you use our Service and the choices you have associated with that data.

We use your data to provide and improve the Service. By using the Service, you agree to the collection and use of information in accordance with this policy. Unless otherwise defined in this Privacy Policy, terms used in this Privacy Policy have the same meanings as in our Terms of use.

Information Collection And Use

We collect several types of information for various purposes to provide and improve our Service to you. All information supplied by you as defined under the Terms of Use is covered by the provisions of Constitution of the Federal Republic of Nigeria 1999 (As amended) and other extant laws and regulations regulating the use and management of personal data.
Types of Data Collected

Personal Data

While using our Service, we may ask you to provide us with certain personally identifiable information that can be used to contact or identify you (“Personal Data”). Personally identifiable information may include, but is not limited to: Email address, First name and last name, Phone number, Address, State.
Cookies and Usage Data

Location Information

When you register and use the V by VFD mobile banking application, we may request that you us permission to collect your device location information. Once granted, we will use this information to carryout your address verification as required by the CBN (Central Bank of Nigeria) with the purpose of granting you full access to your account.
You can revoke this permission at any time by removing the permission from your device setting.

Usage Data

When you access the Service by or through a mobile device, we may collect certain information automatically, including, but not limited to, the type of mobile device you use, your mobile device unique ID, the IP address of your mobile device, your mobile operating system, the type of mobile Internet browser you use, unique device identifiers and other diagnostic data (“Usage Data”).

VFD Microfinance Bank will process your data on a lawful basis which fall under at least one of the following

  • Consent: With your full consent as laid down by NDPR for your personal data that require consent e.g., marketing purpose
  • Performance of a contract: this includes activity necessary to enter into or perform a contract with the data subject  
  • legitimate Interest: This involves using of data for the purpose it’s collected for otherwise with full consent of the data subject
  • Legal Requirement: If required by legal and governmental body for legal obligation and you might not necessarily be consented depending on the statement of law concerning the particular processing request 
  • Vital Interest: This is a rare processing activity that could be required to save someone’s life, most seen in emergency medical care situations.
  • Public Interest: A processing activity that would occur by a government entity or an organization acting on behalf of a government entity.

Tracking & Cookies Data

We use cookies and similar tracking technologies to track the activity on our Service and hold certain information. Cookies are files with small amount of data which may include an anonymous unique identifier. Cookies are sent to your browser from a website and stored on your device. Tracking technologies also used are beacons, tags, and scripts to collect and track information and to improve and analyze our Service. You can instruct your browser to refuse all cookies or to indicate when a cookie is being sent. However, if you do not accept cookies, you may not be able to use some portions of our Service.

Examples of Cookies we use:
Session Cookies: We use Session Cookies to operate our Service. Preference Cookies: We use Preference Cookies to remember your preferences and various settings.
Security Cookies: We use Security Cookies for security purposes.
 
Use of Data
The Mobile Application uses the collected data for various purposes:
To provide and maintain the Service
To provide customer care and support
To provide analysis or valuable information so that we can improve the Service

Transfer Of Data

Your information, including Personal Data, may be transferred to — and maintained on — computers located outside of your state, province, country or other governmental jurisdiction where the data protection laws may differ than those from your jurisdiction. If you are located outside Nigeria and choose to provide information to us, please note that we transfer the data, including Personal Data, to Nigeria and process it there. Your consent to this Privacy Policy followed by your submission of such information represents your agreement to that transfer. We will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with this Privacy Policy and no transfer of your Personal Data will take place to an organization or a country unless there are adequate controls in place including the security of your data and other personal information.

Disclosure Of Data

Legal Requirements We may disclose your Personal Data in the good faith belief that such action is necessary to:
To comply with a legal obligation
To protect and defend our rights or property
To prevent or investigate possible wrongdoing in connection with the Service
To protect the personal safety of users of the Service or the public
To protect against legal liability

Security Of Data

The security of your data is important to us but remember that no method of transmission over the Internet, or method of electronic storage is 100% secure. While we strive to use commercially acceptable means to protect your Personal Data, we cannot guarantee its absolute security.

Service Providers

We may employ third party companies and individuals to facilitate our Service (“Service Providers”), to provide the Service on our behalf, to perform Service-related services or to assist us in analyzing how our Service is used. These third parties have access to your Personal Data only to perform these tasks on our behalf and are obligated not to disclose or use it for any other purpose.

Links To Other Sites

Our Service may contain links to other sites that are not operated by us. If you click on a third-party link, you will be directed to that third party’s site. We strongly advise you to review the Privacy Policy of every site you visit. We have no control over and assume no responsibility for the content, privacy policies or practices of any third-party sites or services.

Children’s Privacy

Our Service does not address anyone under the age of 18 (“Children”).
We do not knowingly collect personally identifiable information from anyone under the age of 18. If you are a parent or guardian and you are aware that your Children has provided us with Personal Data, please contact us. If we become aware that we have collected Personal Data from children without verification of parental consent, we take steps to remove that information from our servers.

Your Data Privacy Rights

Right to Rectification: Users can modify or change their name, email password, and mobile login PIN via their profile.
Right of Access, Right to Erasure, Right to Restrict Processing: Users can request access or erasure of their personal information, as well as request restriction on further processing of their personal information by contacting us at [email protected]. Please allow up to 30 days for requests to be processed. We reserve the right to charge a reasonable fee to process excessive or repeat requests.

Right to Withdraw Consent: Users can stop receiving our promotional emails by following the unsubscribe instructions included in every email we send, or by adjusting your Marketing Preferences in your profile. Users also have choices with respect to cookies, as described above. By modifying your browser preferences, you have the choice to accept all cookies, to be notified when a cookie is set, or to reject all cookies. If you choose to reject all cookies some parts of our Site may not work properly in your case.

Right to lodge a complaint with a supervisory authority: Should you feel your data privacy rights are not being adequately protected by us, you have the right to lodge a formal complaint with the appropriate supervisory authority.
Changes To This Privacy Policy

We may update our Privacy Policy from time to time. We will notify you of any changes by posting the new Privacy Policy on this page. We will let you know via email and/or a prominent notice on our Service, prior to the change becoming effective and update the “effective date” at the top of this Privacy Policy. You are advised to review this Privacy Policy periodically for any changes. Changes to this Privacy Policy are effective when they are posted on this page.

Contact Us

If you have questions regarding your data privacy rights or would like to submit a related data privacy right request, please email us at [email protected] Please allow up to 30 days for requests to be processed. The Company reserves the right to charge a reasonable fee to process excessive or repeat requests.

If you have any questions about this Privacy Policy, please contact us: [email protected]

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©2022 VFD Microfinance Bank (RC1000015) All Rights Reserved. All deposits are insured by Nigeria Deposit Insurance Corporation (NDIC). VFD Microfinance Bank Licensed by The Central Bank of Nigeria. “V”, “Veta” and VBank are trademarks of VTECH: Foresight House, broad street, Lagos Island, Lagos Nigeria.

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