Effective Date: December 12, 2024
Introduction
At Paide, we are committed to protecting your privacy and ensuring the security of your personal data. This Privacy Policy outlines how we collect, use, store, and protect your information when you access our services.
1. Data Collection and Use
We collect personal data to provide you with salary-guaranteed loans, ensure financial compliance, and enhance your experience with personalized financial services. The types of data we collect include:
- Personal identification information (e.g., name, address, ID numbers)
- Employment information
- Financial data (e.g., salary details, loan amounts)
- Biometric data for KYC verification
2. Legal Basis for Data Processing
Our processing of your personal data is based on:
- Your explicit consent
- Contractual necessity
- Compliance with legal obligations
3. Data Storage and Security
We implement robust security measures to protect your information:
- Data Encryption: Your personal data is encrypted in transit and at rest.
- Access Controls: Access is limited to authorized personnel based on their roles.
- Data Backup: Regular backups are performed to ensure data integrity.
4. Data Subject Rights
You have the following rights regarding your personal data:
- Access: Request access to your data.
- Correction: Request corrections for any inaccurate or incomplete information.
- Deletion: Request deletion of your data, where permissible.
- Portability: Request a copy of your data in a common format.
- Objection: Object to the processing of your data for specific purposes.
5. Data Sharing and Disclosure
Your data may be shared under specific circumstances:
- Third-Party Service Providers: Data may be shared with service providers under strict confidentiality agreements.
- Regulatory Authorities: We may disclose data as required by law.
- Employer Access: Employers may access data relevant to loan processing under confidentiality terms.
6. Data Retention
We will retain your personal data only as long as necessary to fulfill the purposes for which it was collected or as required by law. Retention periods are defined based on legal and operational needs.
7. Data Protection Impact Assessments (DPIAs)
We conduct DPIAs for new processing activities and significant changes to assess and mitigate privacy risks.
8. Incident Response and Data Breach Notification
We have an incident response plan to address any data breaches. Should a breach occur, we will notify affected individuals and relevant authorities in compliance with legal requirements.
9. Training and Awareness
Our employees receive regular training on data protection policies and legal obligations to enhance awareness and response to potential security incidents.
10. Compliance and Monitoring
We conduct regular audits and assessments to ensure compliance with our privacy policy and applicable regulations.
11. Contact Information
For any inquiries or concerns about our data protection practices, please contact our Data Protection Officer (DPO) at:
- Email: dpo@paide.io
- Phone: +256.772122911
Changes to This Policy
We will periodically review and update this Privacy Policy to ensure compliance with data protection regulations and best practices.