1. Introduction & Acceptance of Terms
Welcome to Ola Credit (referred to as "the App", "we", "us", or "our"). This Privacy Statement governs your access to and usage of our financial credit services. By downloading, registering an account, or submitting a loan application within the App, you explicitly acknowledge and agree to be bound by this Policy. If you dissent from any term herein, please instantly discontinue using our services and remove the App from your device. All data operations strictly adhere to the Nigeria Data Protection Act (NDPA), 2023.
2. User Eligibility & Geographic Scope
Age Requirement: Our services are strictly intended for individuals who are at least eighteen (18) years of age. We do not knowingly interact with or gather data from minors under 18.
Jurisdiction: Financial services provided by Ola Credit and its affiliates are exclusively available to legal residents physically located within the Federal Republic of Nigeria.
3. Data Collection Categories & Specific Purposes
We gather information either directly provided by you or automatically processed through your authorized app usage. Every data point serves a precise, limited purpose to ensure secure lending:
(a) Approximate / Coarse Location Data:
What we collect: Coarse geographical area while the App runs in the foreground (we never collect precise GPS tracking paths).
Purpose: To verify that your application originates within our Nigerian operational service territory and to block out-of-region fraud.
(b) Device Technical Specifications:
What we collect: Android version, hardware serial numbers, Android ID, device OS, and display metrics.
Purpose: To establish a unique, tamper-proof device binding for your account, effectively preventing unauthorized takeovers and automated bot/emulator attacks.
(c) Filtered Financial SMS Messages:
What we collect: Bank transaction alerts, repayment notifications, and credit line updates extracted via smart filtering algorithms.
Purpose: To assess your debt repayment capacity and expedite loan approvals. Commitment: We strictly bypass personal chats, OTP codes, and non-financial texts. No SMS data is ever traded or shared.
(d) Voluntarily Entered Emergency Contacts:
What we collect/Interaction Logic: We never scan, scrape, or back up your native phone contact list. Instead, the App provides blank input fields where you manually and voluntarily enter alternative phone numbers or emergency contacts. Ensure you have secured prior consent from these individuals.
4. How We Process and Utilize Your Information
Your data is processed strictly on the basis of legal obligations and the necessity of executing credit services, encompassing:
- Performing mandatory Know Your Customer (KYC) and anti-money laundering (AML) checks prior to registration.
- Constructing algorithmic credit score models to determine your loan limits and creditworthiness.
- Executing loan disbursements, repayment tracking, and customer support interactions.
- Intercepting security threats, cyber-attacks, and fraudulent behaviors.
- Dispatching essential transactional updates (e.g., loan status alerts, digital receipts).
5. Security Safeguards, Storage & Retention Periods
Transmission & Rest Security: All information transmitted to our secure servers is protected via industry-standard HTTPS/SSL encryption. Data at rest undergoes advanced cryptographic storage encryption.
Retention Policy: Identification profiles, credit evaluations, and agreements are retained for the duration required by Nigerian statutory mandates (such as anti-money laundering and tax laws) or until legal limitation periods expire.
6. Your Statutory Rights Under the NDPA
Under Nigerian data protection laws, you retain full autonomy regarding your personal data:
- Correction & Access: Request updates or rectifications of inaccurate profile details.
- Account Deletion: Request account termination and data erasure (subject to statutory financial record-retention requirements).
- Objection & Restriction: Object to data processing operations grounded on legitimate business interests.
- Consent Withdrawal: Revoke your data authorization at any time (though this may limit or terminate your access to loan services).
7. External Links
You are solely responsible for safeguarding your account information and password. Ola Credit assumes no responsibility or liability for any information you provide to unofficial links, third-party sites, or platforms not operated directly by Ola Credit.
8. Promotional Communications, Policy Updates & Contact Info
Marketing Opt-Out: We may send promotional offers via SMS, push notifications, or email. You may opt out anytime via the unsubscribe link in our messages. Essential transactional notices will remain unaffected.
Policy Amendments: We reserve the right to revise this policy periodically. Continued app usage following updates constitutes your binding acceptance of the revised terms.
Support Channels: For inquiries, contact our data protection team via:
Email: phillemonwanjala66@gmail.com