Legal

Last updated: April 5, 2024

Privacy Policy

This Privacy Policy (“Policy”) constitutes our commitment to your privacy on our platform. This Policy also forms a part of our holistic Terms of Use which you can access here.

About us

Lendsqr provides a software platform for small and individual lenders to originate loans, score credits using credit bureau services or machine learning algorithms, collect and recover loans, and provide reports and analytics

1. Your privacy rights

This Policy describes your privacy rights regarding Lendsqr’s (“we”, “us” or “our”) collection, use, storage, sharing, and protection of your personal information. It applies to the Lendsqr website and all applications, services, and tools regardless of how you access or use them.

If you are provided with a username, identification code, password, or any other piece of information as part of our security measures, you must treat such information as confidential, and you must not disclose it to any third party. We reserve the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our opinion you have failed to comply with any of the provisions of these Conditions. If you know or suspect that anyone other than you knows your security details, you must promptly notify us at support@lendsqr.com.

2. Consent

You accept this Policy when you sign up for access, or use our products, services, content, features, technologies, or functions offered on our website and all related sites, applications, and services (collectively “Lendsqr Services”). This Policy governs the use of Lendsqr Services by our users unless otherwise agreed through a written contract. We may amend this Policy at any time by posting a revised version on our website. The revised version will be effective 7 days after posting.

3. Updates, modifications & amendments

We may need to update, modify, or amend this Policy as our technology evolves. We reserve the right to make changes to this Policy at any time by giving notice to Users on this page. We advise that you check this page often, referring to the date of the last modification on the page. If a User objects to any of the changes to this Policy, the User must cease using this website, or terminate the account in the event that an account has been created.

4. Age restriction

Our website and services are not directed to persons under the age of 18. We do not knowingly transact or provide any services to persons under the age of 18. If as a parent or guardian, you become aware that your child or ward child has provided us with any information without your consent, please contact us through details on this Policy.

5. Your personal information

When you use Lendsqr Services, we collect information sent to us by your computer, mobile phone, or other electronic access device. The automatically collected information includes but is not limited to data about the pages you access, computer IP address, device ID or unique identifier, device type, geo-location information, computer and connection information, mobile network information, statistics on page views, traffic to and from the sites, referral URL, ad data, and standard web log data.

We may also collect the information you provide us including but not limited to information on the web form, account update information, and correspondence with Lendsqr support services. We also collect information about your transactions, inquiries from Lenders, and your activities. More specifically, we collect your contact information such as name, address, phone, email, etc. Information obtained through survey responses, telephone conversations, customer inquiries, and other means may also be used by us.

We may also use information provided by third parties like social media sites. Information about you provided by other sites is not controlled by Lendsqr and we are therefore not liable for how they use it.

6. What we do with your personal information

We may use your personal information that we collect to:

• provide Lendsqr services and support;
• process transactions and send notices about your transactions to requisite parties;
• verify your identity;
• resolve disputes, collect fees, and troubleshoot problems;
• manage risk, or to detect, prevent, and/or remediate fraud or other potentially prohibited or illegal activities;
• detect, prevent, or remediate violations of policies or applicable user agreements;
• improve the Lendsqr Services by implementing aggregate customer preferences;
• measure the performance of the Lendsqr Services and improve content, technology, and layout;
• manage and protect our information technology infrastructure;
• present you with personalized ads and content;
• contact you at any time through your provided telephone number, email address, or other contact details;
• comply with our legal obligations and for legal and administrative purposes;
• notify you about your account, troubleshoot problems with your account, resolve a dispute, poll your opinions through surveys or questionnaires, enforce our policy, notify you of new products, discounts, promotions, or as otherwise necessary to service your account, we may contact you through the information provided.

7. Account deletion

Users may request to delete their Admin account at any time by sending an email to support@lendsqr.com. Upon receipt of such a request, Lendsqr will initiate the account deletion process and provide the user with confirmation once the account has been deleted. Please note that account deletion will result in the permanent removal of the user's Admin account and all associated data. Any outstanding loan balances, fees, or other charges owed by the user must be fully paid before account deletion can be processed. Lendsqr reserves the right to refuse a user's request for account deletion if there are any pending transactions, investigations, or disputes related to the account. By using the platform, users acknowledge and agree to the account deletion process described herein.

8. Right to withdraw consent

Users can stop receiving promotional emails from Lendsqr by following the unsubscribe instructions included in every email we send, or by sending an email to support@lendsqr.com.

9. Cookies

We use cookies to identify you as a user and make your user experience easier, customize our services, content, and advertising; help you ensure that your account security is not compromised, mitigate risk and prevent fraud; and promote trust and safety on our website. Cookies allow our servers to remember your account log-in information when you visit our website, IP addresses, date and time of visits, monitor web traffic, and prevent fraudulent activities. If your browser or browser add-on permits, you have the choice to disable cookies on our website, however, this may limit your ability to use our website.

10. How we protect your personal information

As a global company Lendsqr and its Affiliates and third parties, may collect, transfer, process, and store your Personal Data in different jurisdictions such as Nigeria, the United Kingdom, and the United States of America.

Therefore, Personal Data may be processed outside your jurisdiction, including in countries and jurisdictions that are not subject to an adequacy decision by your local legislature or regulator, and that may not provide for the same level of data protection as your jurisdiction. We are committed to maintaining appropriate technical and organizational measures to ensure an adequate level of protection and security of your Personal Data as required by the applicable regulators or legislators.

11. How we share your information with Lendsqr and other third parties

During your transaction, we may provide the corresponding party with information such as your name, account identification details, contact details, billing address, or other information needed to promote the integrity and security of the transaction. We may also provide details of unsuccessful transactions.

We work with third parties, including lenders, to enable them to accept payments from you to provide Lendsqr Services. In doing so, a third party may share information about you with us, such as your email address or mobile phone number, to inform us that a payment has been received from you. We shall also validate your status as a Lendsqr customer to third parties on your instruction.

We will permit our third-party Service Providers, including agents, contractors, and Lendsqr Affiliates, to use your Personal Data on our behalf for the purposes set out in Sections 6 and 6.1. Examples of such third parties include customer relationship management providers, web analytics services, partner relationship management, payment processing providers, email and communication service providers, information security service providers, and others.

You accept that your pictures and testimonials on all social media platforms about Lendsqr can be used for limited promotional purposes by us or our agents. This does not include your trademark or copyrighted materials. From time to time we may send you relevant information such as product updates, new functionalities, tips on how to use the platform, new service offerings, etc. We may also share your personal information in compliance with local or international regulatory requirements; fraud prevention and risk management agencies and service providers.

We may choose to buy or sell assets and may share and/or transfer Customer information, including Personal Data, in connection with the evaluation of and entry into such transactions and based on our legitimate interests.

Also, if we or our assets are acquired, or if we go out of business, enter bankruptcy, or go through some other change of control, Personal Data may be one of the assets transferred to or acquired by a third party.

12. International transfers of personal data

As a global company Lendsqr and its Affiliates and third parties, may collect, transfer, process, and store your Personal Data in different jurisdictions such as Nigeria, the United Kingdom, and the United States of America.

Therefore, Personal Data may be processed outside your jurisdiction, including in countries and jurisdictions that are not subject to an adequacy decision by your local legislature or regulator, and that may not provide for the same level of data protection as your jurisdiction. We are committed to maintaining appropriate technical and organizational measures to ensure an adequate level of protection and security of your Personal Data as required by the applicable regulators or legislators.

13. The data that we retain

We will retain your information for as long as your account is active or as needed to provide you with our services, comply with our legal and statutory obligations, or verify your information with a financial institution.

Lendsqr is statutorily obligated to retain the data you provide us with in order to process transactions, ensure settlements, make refunds, identify fraud, and be in compliance with laws and regulatory guidelines applicable to us, our banking providers, and card processors.

Therefore, even after closing your Lendsqr account, we will retain certain data to comply with these obligations.

14. Security

We will always hold your information securely. To prevent unauthorized access to your information, we have implemented strong controls and security safeguards at the technical and operational levels. This site uses Secure Sockets Layer/Transport Layer Security (SSL/TLS) to ensure secure transmission of your personal data. You should see the padlock symbol in your URL address bar once you are successfully logged into the platform. The URL address will also start with https:// depicting a secure webpage. SSL applies encryption between two points such as your PC and the connecting server. Any data transmitted during the session will be encrypted before transmission and decrypted at the receiving end. This is to ensure that data cannot be read during transmission.

All Personal Data we collect about you is stored on our or our subcontractors’ secure systems. We comply with our security policies and standards when accessing or using this information and restrict access to your Personal Data to those persons who need to use it for the purpose(s) for which it was collected.

No data transmission over the Internet, a website, or via email or other message service, and no data processing or storage can be guaranteed to be secure from manipulation, disclosure, or unavailability. However, we maintain commercially reasonable physical, electronic, and procedural safeguards to protect your Personal Data in accordance with the requirements of the relevant data protection legislation, including encryption, and backups.

You are responsible for keeping any information that we send to you confidential and for complying with any other security procedures that we notify you of. In particular, where we have given you (or where you have chosen) a password that enables you to access certain parts of our websites, we ask you not to share a password with anyone.

15. Data confidentiality rights

Client information is regarded as confidential and will not be divulged to any third party except under legal and/or regulatory conditions. You have the right to request to sight and obtain copies of any and all information we keep on you, on the proviso that we are given reasonable notice of such a request. While Lendsqr is responsible for safeguarding the information entrusted to us, your role in fulfilling confidentiality duties includes but is not limited to, adopting and enforcing appropriate security measures such as non-sharing of passwords and other platform login details.

16. Links to other websites

Certain transaction processing channels may require links to other websites. Please note that Lendsqr is not responsible and has no control over websites outside its domain. We do not monitor or review the content of other party’s websites which are linked from this website. Opinions expressed or materials appearing on such websites are not necessarily shared or endorsed by us, and LTL should not be regarded as the publisher of such opinions or materials. Please be aware that we are not responsible for the privacy practices, or content of these sites. We encourage our users to be aware of when they leave our site and to read the privacy statements of these sites. You should evaluate the security and trustworthiness of any other site connected to this site or accessed through this site yourself, before disclosing any personal information to them. LTL will not accept any responsibility for any loss or damage in whatever manner, howsoever caused, resulting from your disclosure to third parties of personal information.

All Personal Data we collect about you is stored on our or our subcontractors’ secure systems. We comply with our security policies and standards when accessing or using this information and restrict access to your Personal Data to those persons who need to use it for the purpose(s) for which it was collected.

No data transmission over the Internet, a website, or via email or other message service, and no data processing or storage can be guaranteed to be secure from manipulation, disclosure, or unavailability. However, we maintain commercially reasonable physical, electronic, and procedural safeguards to protect your Personal Data in accordance with the requirements of the relevant data protection legislation, including encryption, and backups.

You are responsible for keeping any information that we send to you confidential and for complying with any other security procedures that we notify you of. In particular, where we have given you (or where you have chosen) a password that enables you to access certain parts of our websites, we ask you not to share a password with anyone.

17. Governing law

This Privacy Policy shall be interpreted and governed by the laws currently in force in the Federal Republic of Nigeria.