Privacy Policy

1. Introduction

At Precision Financial Services ("PFS," "we," "our," or "us"), we are committed to protecting your privacy and safeguarding your personal information. This Privacy Policy explains how we collect, use, disclose, and protect your personal data when you use our website, mobile applications, and financial services (collectively, the "Services").

This Privacy Policy complies with the Nigeria Data Protection Act (NDPA) 2023 and the Nigeria Data Protection Regulation (NDPR) 2019. By using our Services, you consent to the data practices described in this policy.

2. Information We Collect

2.1 Personal Identification Information

• Full name (first, middle, and last name)
• National Identification Number (NIN)
• Bank Verification Number (BVN)
• Date of birth and gender
• Passport photograph
• Government-issued identification card images
• Phone number and email address
• Residential address, local government area (LGA), and state

2.2 Business & Financial Information

• Business name, type, and market location
• Bank account details (bank name, account name, account number)
• Credit score and loan history
• Loan repayment records and outstanding balances

2.3 Guarantor Information

• Full name, phone number, email address, and NIN
• Relationship to the borrower, occupation, and address
• Passport photograph and identification card images
• KYC verification status and contact history

2.4 Technical & Usage Information

• IP address, browser type, and device information
• Pages visited, time spent on the platform, and navigation patterns
• Login timestamps and session activity

3. How We Collect Information

We collect information through the following methods:

• Direct collection: Information you provide when creating an account, applying for a loan, or communicating with our customer service agents.
• Document upload: Passport photographs and identification documents you upload during the onboarding or KYC verification process.
• Automated collection: Technical data collected automatically when you interact with our platform, including through cookies and similar technologies.
• Third-party sources: Information from credit bureaus, identity verification services, and other authorized third parties for the purpose of credit assessment and fraud prevention.

4. How We Use Your Information

We use the information we collect for the following purposes:

• Identity verification: To verify your identity using your NIN, BVN, and uploaded identification documents, and to authenticate guarantors through our KYC process.
• Credit assessment: To evaluate your eligibility for loan products, determine appropriate interest rates, and assess credit risk.
• Service delivery: To process loan applications, disburse funds, and manage ongoing loan accounts including repayment tracking.
• Communication: To send you notifications about your loan status, payment reminders, and important account updates via email or SMS.
• Legal compliance: To comply with applicable laws, regulations, and legal processes, including anti-money laundering (AML) and counter-terrorism financing (CTF) obligations.
• Platform improvement: To analyze usage patterns and improve our Services, user experience, and security features.

5. Data Sharing & Disclosure

We do not sell your personal information. We may share your information only in the following circumstances:

• With your consent: When you have given us explicit permission to share your information for a specific purpose.
• Service providers: With trusted third-party vendors who assist us in operating our platform, processing payments, sending communications, or verifying identities, subject to strict confidentiality agreements.
• Credit bureaus: With licensed credit bureaus for the purpose of credit reporting, in accordance with applicable regulations.
• Legal requirements: When required by law, court order, or governmental regulation, or to protect the rights, property, or safety of PFS, our customers, or the public.
• Business transfers: In connection with a merger, acquisition, or sale of all or a portion of our assets, provided the receiving entity agrees to respect your personal information in a manner consistent with this Privacy Policy.

6. Data Storage & Security

Your personal information is stored on secure servers provided by our cloud infrastructure partners. We implement industry-standard security measures to protect your data, including:

• Encryption of data in transit (TLS/SSL) and at rest
• Access controls limiting data access to authorized personnel only
• Regular security assessments and monitoring
• Secure authentication mechanisms for platform access
• Audit logging of all data access and modifications

While we strive to protect your personal information, no method of electronic storage or transmission is 100% secure. We cannot guarantee absolute security, but we will notify you promptly in the event of a data breach that may affect your personal information, in accordance with NDPA requirements.

7. Data Retention

We retain your personal information for as long as necessary to fulfill the purposes for which it was collected, or as required by applicable law. Specifically:

• Customer and loan records are retained for a minimum of seven (7) years after the termination of the customer relationship, in compliance with Nigerian financial record-keeping requirements.
• Identification documents and KYC verification records are retained for the duration of the customer relationship plus seven (7) years.
• Technical and usage data is retained for a maximum of twenty-four (24) months.

8. Your Data Protection Rights

Under the Nigeria Data Protection Act (NDPA) 2023, you have the following rights:

• Right to access: You may request a copy of the personal data we hold about you.
• Right to rectification: You may request that we correct any inaccurate or incomplete personal data.
• Right to erasure: You may request the deletion of your personal data, subject to legal retention requirements.
• Right to restrict processing: You may request that we limit the processing of your personal data under certain circumstances.
• Right to data portability: You may request a copy of your personal data in a structured, commonly used, machine-readable format.
• Right to object: You may object to the processing of your personal data for direct marketing or other specified purposes.
• Right to withdraw consent: Where processing is based on your consent, you may withdraw that consent at any time.

To exercise any of these rights, please contact us at info@precisionfinancialservicesltd.com. We will respond to your request within thirty (30) days as required by law. We may need to verify your identity before processing your request.

9. Cookies & Tracking Technologies

Our platform uses cookies and similar tracking technologies to enhance your browsing experience, analyze platform usage, and improve our Services. Cookies are small text files stored on your device by your web browser.

You may configure your browser to refuse all cookies or to indicate when a cookie is being sent. However, some features of our platform may not function properly without cookies. By using our platform without adjusting your cookie settings, you consent to our use of cookies as described in this policy.

10. Children’s Privacy

Our Services are not intended for individuals under the age of 18. We do not knowingly collect personal information from children. If we become aware that we have inadvertently collected personal data from a child under 18, we will take steps to delete such information promptly. If you believe a child has provided us with personal information, please contact us immediately.

11. International Data Transfers

Your personal information is primarily stored and processed within the Federal Republic of Nigeria. In some cases, our cloud service providers may process data in jurisdictions outside Nigeria. When we transfer data internationally, we ensure appropriate safeguards are in place, including standard contractual clauses and adequacy decisions, to protect your data in accordance with NDPA requirements.

12. Changes to This Privacy Policy

We may update this Privacy Policy from time to time. Material changes will be communicated to you via email or through a prominent notice on our platform at least thirty (30) days before the changes take effect. The "Last updated" date at the top of this page indicates when this Privacy Policy was last revised. Your continued use of our Services after such modifications constitutes your acknowledgment of the updated policy.

13. Contact Information & Data Protection Officer

If you have any questions, concerns, or requests regarding this Privacy Policy or our data practices, please contact our Data Protection Officer:

You also have the right to lodge a complaint with the Nigeria Data Protection Commission (NDPC) if you believe your data protection rights have been violated. For more information, visit the NDPC website at ndpc.gov.ng.