Privacy Policy
PRIVACY POLICY
Springfield Microfinance Bank is a data controller under the Nigeria Data Protection Regulation (NDPR) and Nigeria Data Protection Act (NDPA). We respect your privacy and are committed to maintaining the security and confidentiality of your personal information. At Springfield Microfinance Bank, protecting our customers' data is a priority. We continuously train our staff on data protection and relevant privacy policies.
Our privacy policy describes the type of information we collect from our customers, how it is collected, used, stored, retained, and disclosed. You have control over how your personal information is used, and we encourage you to make informed choices to ensure efficient service delivery.
Information We Collect As a financial institution licensed and regulated by the Central Bank of Nigeria, we collect necessary personal information to fulfill legal and contractual obligations. This data may include, but is not limited to, your name, address, telephone number, email address, proof of address, financial information, employment details, next of kin details, Bank Verification Number (BVN), and National Identification Number (NIN). Personal data is collected voluntarily when you access our products and services or from trusted third-party sources.
Use of Information Your information plays a vital role in the delivery of our services. In compliance with your consent and applicable legal regulations, we use your personal information to:
Your information plays a vital role in the delivery of our services. In compliance with your consent and applicable legal regulations, we use your personal information to:
- Verify your identity
- Protect against fraud and unauthorized financial activities
- Provide customer support
- Communicate our services, including product updates, newsletters, promotional materials, and other marketing communications
- Analyze and enhance our platform for a better user experience
Collection of Information We collect your information from various sources, including:
- Information provided during onboarding
- Interactions with Springfield Microfinance Bank's web and mobile applications
- Loan applications
- Submission of identification documents
- Communications with our customer support team regarding complaints and disputes
- Credit bureaus and third-party partners
- Regulatory investigations, including Know Your Customer (KYC) and suspicious transaction reporting
Sharing of Information Springfield Microfinance Bank may share your information as permitted by law with trusted third-party partners to facilitate our services. However, we do not sell your data to third parties. We may disclose your data if required by law or to protect our legal interests.
Additionally, in the event of a reorganization, merger, or sale, we may transfer any and all personal information to the relevant entity. If any third parties are located outside Nigeria, we take reasonable steps to ensure that your information is treated securely and in compliance with applicable data protection laws.
Security We employ robust security measures to protect your information. In the event of a data breach, we will promptly notify you. However, while we take every precaution to secure your data, no method of transmission or storage is entirely foolproof.
Your Rights We respect your rights over your data, which include:
- Right to Rectification: You can rectify inaccurate or incomplete information. If disclosed to third parties, we will inform them of the correction where possible.
- Right to Deletion: You can request the deletion of personal data where no compelling legal or regulatory requirement necessitates continued processing.
- Right to Restriction of Processing: You can withdraw consent, allowing us to store but not further process your data.
- Right to Lodge a Complaint: If your data is mismanaged, you can lodge a complaint with the Nigeria Data Protection Bureau (NDPB).
- Right to Be Informed: We are committed to transparency through our privacy policy.
- Right to Access: You can request access to your personal data and how it is processed.
Data Retention We retain your data as long as necessary to provide our services or as required by law. Upon account termination or your request, we will delete your data unless legally required to retain it.
Marketing Communications We may send you marketing communications with your consent. You can opt-out at any time.
Our Cookie Policy Cookies help us enhance your experience by storing preferences and login status. Cookies do not grant us access to your computer. You can disable cookies through your browser settings if preferred.
Policy Changes This policy may be updated periodically. Please check our website regularly for updates.
For inquiries, please get in touch with our Data Protection Officer via email at dpo@springfieldmfb.com.
Insured by NDIC