1. Introduction
PalmCore Finance ("we", "us", "our") is a digital banking platform providing money transfers, savings, micro-loans, and bill payment services. This Privacy Policy explains how we collect, use, store, and protect your personal and financial information when you use our mobile application and services.
2. Information We Collect
- Account information: Full name, email address, phone number, password (encrypted).
- Identity verification (KYC): Date of birth, address, government-issued ID, and selfie verification where required.
- Financial data: Account balance, transaction history, savings goals, loan applications, and repayment records.
- Payment details: Bank account numbers, card details (processed securely via our payment providers), and transfer recipient information.
- Device and usage data: IP address, device type, operating system, app usage patterns, and crash reports.
3. How We Use Your Information
- To create and manage your account and verify your identity.
- To process transfers, deposits, withdrawals, savings, and loan disbursements.
- To detect, prevent, and investigate fraud, unauthorized transactions, and suspicious activity.
- To send you transaction confirmations, repayment reminders, and account alerts.
- To comply with financial regulations and regulatory reporting requirements.
- To improve our services, develop new features, and provide customer support.
4. Information Sharing
We share your information only when necessary:
- Payment providers: Banks, card networks, and licensed payment processors (e.g. OPay, Stripe) to complete your transactions.
- Regulatory authorities: When required by law, court order, or financial regulations (e.g. CBN, NIBSS).
- Service partners: Cloud hosting, identity verification, and analytics providers under strict data protection agreements.
We never sell your personal data to third parties.
5. Data Security
We use industry-standard security measures including encryption in transit and at rest, secure authentication, fraud detection systems, and restricted internal access. Your payment credentials are tokenized and processed by certified PCI-DSS compliant providers. We never store your raw card numbers or PINs.
6. Data Retention
We retain your personal and transaction data for as long as your account is active and for the period required by financial regulations after account closure (typically 5 to 7 years for transaction records).
7. Your Rights
- Access and download a copy of your personal data.
- Request correction of inaccurate information.
- Request deletion of your data, subject to regulatory retention requirements.
- Withdraw consent for marketing communications at any time.
- Lodge a complaint with the relevant data protection authority.
8. Children's Privacy
PalmCore Finance is not available to individuals under 18 years of age. We do not knowingly collect data from minors. If you believe a minor has registered, please contact us so we can remove the account.
9. Changes to This Policy
We may update this Privacy Policy from time to time. We will notify you of significant changes through the app or via email. Continued use after changes constitutes acceptance.