This Privacy Policy describes how
OTECH Microfinance Bank (“we”, “us”, or “our”)
collects, uses, and protects your information when you use the
otech 1.0 mobile banking application (“Service”). By
using the Service, you consent to the practices described in this
policy.
1. Information We Collect
-
Personal Data: Full name, phone number, email
address, BVN, account details, identification documents.
-
Financial Data: Account balances, transaction
history, loan records, repayment behavior, linked bank details.
-
Device Information: IP address, operating system,
unique device identifiers.
-
Usage Data: Log files, interaction logs, app
performance, location data (if permitted).
2. How We Use Your Information
- Create and manage your bank account
- Verify your identity and comply with KYC/AML regulations
- Facilitate deposits, withdrawals, transfers, and loan services
-
Monitor, detect, and prevent fraudulent or unauthorized activities
- Improve application performance, security, and user experience
- Comply with legal, regulatory, and reporting obligations
3. Sharing of Information
We do not sell your personal data. However, we may share your data:
-
With regulators and supervisory authorities, upon legal or regulatory
request
-
With third-party service providers and processors (under strict
confidentiality obligations)
- With credit bureaus for scoring, reporting, and loan assessment
- With law enforcement agencies, where required by applicable law
4. Data Security
We implement physical, technical, and administrative security measures
to protect your data. However, no system is completely secure, and we
cannot guarantee absolute protection.
5. Data Retention
We retain your data for as long as necessary to provide the Service or
as required by applicable laws and regulatory guidelines.
6. Your Rights
Subject to applicable law, you have the right to:
- Access your personal data
- Request correction or deletion of your information
- Object to certain types of data processing
- Withdraw consent at any time (where applicable)
To exercise these rights, please contact us at
support@otechbank.com
or visit our
Data Deletion Policy.
7. Children’s Privacy
otech 1.0 is not intended for individuals under the age of 18. We do not
knowingly collect personal data from children.
8. Cookies and Tracking
We may use cookies or similar tracking technologies to enhance your user
experience and gather analytics. You can manage or disable cookies
through your device settings.
9. Changes to This Policy
We may update this Privacy Policy from time to time. Updates will be
communicated through the app or via email. Continued use of the Service
implies your acceptance of any changes.
10. Contact Us
If you have questions, concerns, or requests regarding this Privacy
Policy, you may contact us at:
Email:
support@otechbank.com
