Privacy Policy for Kolo App
Effective Date: 01/06/2025
At Kolo Mobile, your privacy is of utmost importance to us. We are committed to safeguarding your personal and financial information. This Privacy Policy outlines how we collect, use, share, and protect your data when you use our fintech thrift savings and investment app.
1. Information We Collect
a. Personal Information:
When you sign up or use Kolo Mobile, we may collect the following personal details:
• Name
• Email address
• Phone number
• Date of birth
• Identification documents (e.g., national ID, driver’s license)
• Banking details
b. Financial Information:
We collect information related to your financial transactions within the app, such as savings balances, contributions, and withdrawal history.
c. Usage Data:
We gather data on how you interact with the app, including features used, time spent on the app, and transaction history.
d. Device Information:
We collect information about the device you use to access Kolo Mobile, such as your device type, operating system, IP address, and mobile network.
2. How We Use Your Information
a. Service Delivery:
We use your information to provide, manage, and improve our savings services, including processing transactions, managing your account, and providing customer support.
b. Account Verification:
We use your personal and financial information to verify your identity and prevent fraud.
c. Personalization:
Your data helps us tailor your experience, offering customized content, features, and financial insights.
d. Communication:
We may send you notifications regarding your account, security alerts, and promotional messages. You can opt out of promotional communications through the app settings.
e. Compliance and Legal Obligations:
We use your data to comply with applicable laws, regulations, and legal processes, including KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements.
3. How We Share Your Information
a. With Service Providers:
We may share your information with third-party service providers who assist us in delivering our services, such as payment processors, cloud storage providers, and customer support services.
b. With Financial Institutions:
We may share necessary information with banks or other financial institutions to facilitate transactions, manage savings accounts, and comply with regulatory requirements.
c. Legal Requirements:
We may disclose your information if required by law or in response to legal processes, such as court orders or subpoenas, or to protect the rights, property, or safety of Kolo Mobile, our users, or others.
d. Business Transfers:
If Kolo Mobile is involved in a merger, acquisition, or sale of assets, your information may be transferred as part of that transaction.
4. Security of Your Information
We implement industry-standard security measures to protect your data from unauthorized access, alteration, disclosure, or destruction. This includes encryption, secure servers, and regular security audits.
5. Your Rights and Choices
a. Access and Correction:
You can access and update your personal information through the app settings.
b. Data Deletion:
You may request the deletion of your account and personal data by contacting our support team. Please note that some data may be retained for legal and regulatory reasons.
c. Communication Preferences:
You can manage your communication preferences and opt out of marketing messages through the app settings.
6. Children's Privacy
Kolo Mobile is intended for users aged 18 and above. We do not knowingly collect or store personal information from children under 18. If we discover that we have inadvertently collected such information, we will delete it promptly.
7. International Data Transfers
If you are accessing Kolo Mobile from outside [Your Country], your information may be transferred to, stored, and processed in a different country where our servers are located. By using our services, you consent to this transfer.
8. Changes to This Privacy Policy
We may update this Privacy Policy periodically. Any changes will be posted on this page with the updated effective date. We encourage you to review this policy regularly.
9. Contact Us
If you have any questions or concerns about this Privacy Policy, please contact us at:
Kolo Email: info@kolocore.com
