PRIVACY POLICY

At Benysta Microfinance Bank, accessible from www.benystamfb.com or any of our mobile applications, one of our main priorities is the privacy of our customers. This Privacy Policy document contains types of information that is collected and recorded by Benysta Microfinance Bank and how we use it. If you have additional questions or require more information about our Privacy Policy, do not hesitate to contact us at info@benystamfb.com or visit our branch at 21A Kashim Ibrahim Road, Makurdi, Nigeria. This Privacy Policy applies all and any online activities and is valid for customers as well as visitors to our website, bank and mobile app with regards to the information that they shared and/or collected. This policy is not applicable to any information collected offline or via channels other than this website. Please read our privacy policy carefully to understand clearly how we collect, protect and handle your Personally Identifiable Information in accordance to our website.

Consent
By using our website or mobile application, you hereby consent to Benysta Privacy Policy and agree to its terms.

Information we collect
When you use the Benysta Microfinance Bank website or mobile banking application, we may collect and process the following types of information:

• Personal Information: When you interact with our mobile app, you may provide us with personal details such as your name, Bank Verification Number (BVN), valid identification, address, and picture. Additionally, when you sign up for the mobile app, we collect information like your BVN, name, date of birth, gender, phone number, residential address, and email address.
• Transaction Details: Details of your transactions conducted through the mobile app will be collected and stored by us.
• Permission-based Information: We may request explicit permission to access other information on your device, such as your address book, location, photos, and data from your camera.
• Images: Images may be collected for the purpose of Know Your Customer (KYC) verification and other features, such as adding your profile picture.
• In-App Chat Information: Information you provide us through the in-app chat feature to assist you with queries or support requests.
• Contact List Information: We may access your contact list information to facilitate certain functions, such as sending airtime and data to individuals on your contact list.
• Technical Information: We may collect technical information about your device and usage patterns, including but not limited to internet protocol (IP) address, browser type, device ID, internet service provider (ISP), information about your computer and software, links and materials you request, approximate location, referring/exit pages, date/time stamp, and other metadata. We may also use cookies to enhance your experience and for session management purposes.

How we use your information
We may use the information we collect for various purposes, including but not limited to:

• Providing and personalizing our services to you.
• Processing your transactions and requests.
• Conducting identity verification and fraud prevention.
• Improving and optimizing our mobile app and services.
• Communicating with you, including responding to inquiries and providing customer support.
• Complying with legal and regulatory obligations.
• Marketing and promotional purposes, with your consent where required by applicable law.

Benysta Microfinance Bank follows a standard procedure of using log files. These files log customers and visitors when they visit our website. All hosting companies do this and a part of hosting services’ analytics. The information collected by log files include internet protocol (IP) addresses, browser type, Internet Service Provider (ISP), date and time stamp, referring/exit pages, and possibly the number of clicks. These are not linked to any information that is personally identifiable. The purpose of the information is for analysing trends, administering the site, tracking users’ movement on the website, and gathering demographic information. As a Benysta mobile app user, Benysta Microfinance Bank may contact you sometimes with products and services that we may think might be of interest to you. If you don’t want to receive such promotional materials, you can opt out at any time by sending an email to info@benystamfb.com.

How long we keep information
We keep your information as long as reasonably necessary to full all relevant purposes set out in this Privacy Policy and in order to comply with legal and regulatory obligations. The length of time to retain personal information depends on the purpose for which the information is collected and used and/or as required to comply applicably with laws and to establish, exercise and/or defend our legal rights.

Updating and Maintaining Accurate information
Keeping your account information accurate and up to date is very important. You have access to your account information. Please contact us if any personal information that we hold needs to be updated or corrected a well any inaccuracies in your personal information to enable us implement necessary updates and changes.

Cookies and Web beacons
Like any other website, www.benystamfb.com uses ‘cookies’. These cookies are used to store information including visitors’ preferences, and the pages on the website that the visitor accessed or visited. The information is used to optimize the users’ experience by customizing our web page content based on visitors’ browser type and/or other information. For more general information on cookies, please read our cookie policy. You have the right to stop your data being collected or processed.

Third party Privacy Policies
Benysta Microfinance Bank’s Privacy Policy does not apply to other advertisers or websites. Thus, we are advising you to consult the respective Privacy Policies of these third-party ad servers for more detailed information. It may include their practices and instructions about how to opt-out of certain options. You can choose to disable cookies through your individual browser options. To know more detailed information about cookie management with specific web browsers, it can be found at the browsers’ respective websites.

Third Party Disclosure
We do not sell, trade or transfer to outside parties all and any information provided to us unless we provide you with advance notice. This does not include website hosting partners and other parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with our law, enforce our site policies, protect ours or other’s rights, property or safety. However, we may disclose your personal information to third parties under certain circumstances, including:

• To our affiliates, service providers, and business partners who assist us in providing and improving our services.
• To comply with legal or regulatory requirements, including responding to lawful requests from government authorities.
• In connection with a merger, acquisition, or sale of all or a portion of our assets.

Social Media Platforms
Benysta Microfinance Bank may interact with users of various social media platforms, including Twitter, LinkedIn, Facebook. Please note that any content you post to such platforms (e.g. pictures, information or opinions) as well as any and all personal information you make available to users (e.g. your profiles) is subject to the applicable social media platform’s terms of use and privacy policies. We recommend you review any information carefully in order to better understand your rights and obligation with regards to such consent.

Security of Users’ Personal Information
Benysta Microfinance Bank (“Benysta”) has implemented stringent measures to ensure the security of your personal information. We employ physical, technical, and procedural safeguards to protect against unauthorized access, disclosure, alteration, or destruction of User information.

Technical Safeguards: Benysta utilizes advanced computer safeguards, including firewalls and data encryption, to secure your personal information. Access to personally identifiable information is restricted to authorized personnel, including employees, contractors, and agents, who require it to fulfil their job responsibilities.

Enhanced Protection for Sensitive Information: Benysta employs a higher duty of care to safeguard sensitive information such as credit card or bank account numbers. In cases where disclosure of such information could result in direct financial loss, we employ additional encryption measures and transmit it under Secure Socket Layer (SSL) for enhanced security.

Data Retention: Benysta retains personal information only as long as reasonably necessary to provide services to you. When we no longer provide services, your information is stored on our servers to comply with regulatory obligations and for fraud monitoring, detection, and prevention purposes. We adhere to limitation periods specified by applicable law when retaining your Personal Information. All Personal Information you provide to Benysta is stored on secure servers, as well as in secure physical locations and cloud infrastructure where applicable. This ensures seamless service provision and business continuity. Data collected from you may be transferred to or stored in cloud locations at globally accepted vendors’ data centers. When transferring your information to other locations, we take all necessary steps to ensure that your data is handled securely and in accordance with this privacy policy. For any inquiries or concerns regarding the security of your personal information, please contact us.

Data Confidentiality Rights
Benysta Microfinance Bank (“Benysta”) is committed to adhering to the Nigeria Data Protection Regulation 2019 (“NDPR”) and other applicable laws and regulations concerning the reporting of data breaches. We recognize the importance of protecting your data confidentiality and ensuring your rights and freedoms as a User. Benysta is obligated to comply with reporting requirements in the event of a personal data breach that poses a risk to your rights and freedoms. If such a breach occurs and presents a high risk to you: We will notify you promptly, unless measures have been taken to mitigate the risk or it would be disproportionately difficult to inform you directly. Mitigation measures may include applying security protocols such as encryption to safeguard your personal data, making it unintelligible to unauthorized parties. If direct notification is not feasible, we will issue a public communication or adopt equally effective alternative measures to ensure you are informed and can take necessary remedial action. Benysta takes your data privacy seriously and is committed to transparency in our handling of personal data breaches. We strive to uphold your rights and freedoms as a User and maintain the confidentiality and security of your information.

Privacy Policy Changes
This policy may be revised on ad-hoc basis to reflect the legal, regulatory and operating environment and such revised versions will applicable automatically to you. We will update any revisions we make to our Privacy Policy on this page and such revised policy becomes effective as at the time it is updated. We encourage you to check this page from time to time for updates to this policy.

Applicable Law
This Policy is crafted in accordance with the Nigerian laws, regulations, or international conventions applicable to the Federal Republic of Nigeria. November, 2023.