Privacy Policy
Effective Date: 3rd June 2025
1. Introduction
Balancc ("we," "our," or "us") is committed to protecting the privacy and security of your personal data. This Privacy Policy describes how we collect, use, store, share, and protect your information when you use our mobile application, website, and related services (the "Services").
This Policy complies with:
- Nigeria Data Protection Regulation (NDPR 2019)
- General Data Protection Regulation (GDPR 2016/679) of the European Union
- California Consumer Privacy Act (CCPA) for US-based users where applicable
By using Balancc, you consent to the data practices outlined herein.
2. Information We Collect
2.1 Personal Information
- Full name
- Email address
- Phone number
- Bank account identifiers (through secure APIs)
- Transactional and financial data
- Identity verification data (if applicable)
2.2 Technical Data
- Device information and IP address
- App usage logs and analytics
- Authentication tokens
2.3 Optional Data (with explicit consent)
- Location data
- Contacts (for referrals or financial network mapping)
3. Legal Basis for Processing
We collect and process your data under the following legal bases:
- Consent (NDPR Part 2.1(a), GDPR Art. 6(1)(a))
- Performance of a contract (NDPR Part 2.1(b), GDPR Art. 6(1)(b))
- Compliance with legal obligations (NDPR Part 2.1(c), GDPR Art. 6(1)(c))
- Legitimate interests, provided they do not override your rights (NDPR Part 2.1(f), GDPR Art. 6(1)(f))
4. How We Use Your Information
Your data enables us to:
- Provide and improve our Services
- Authenticate your identity
- Process and analyze your financial information
- Deliver personalized insights and recommendations
- Communicate with you about your account
- Send updates and marketing communications (with consent)
- Detect and prevent fraud or abuse
- Comply with legal obligations
5. Data Storage and Security
We implement robust security measures including encryption, access controls, and regular security assessments to protect your information from unauthorized access and breaches.
6. Your Privacy Rights
You have the right to:
- Access your personal data
- Correct inaccurate data
- Delete your data (subject to legal obligations)
- Restrict or object to certain processing
- Withdraw consent
- Data portability
7. Contact Information
For privacy inquiries, contact our Data Protection Officer at:
Email: [email protected]