Privacy Notice
Summary
Introduction
Renmoney Microfinance Bank Limited (“Renmoney”, “we”, “us”, or “our”) is a fintech company in Nigeria that offers personal and business loans, savings, investment products and other banking services.
This Privacy Notice (“Notice”) governs your use of our website (collectively, the “Platform”). We provide this Notice because you have a right to know what information we collect, why we collect it, how it is protected and used, and the circumstances under which it may be disclosed.
Terms of Use
You are required to comply with the provisions of our Terms of Use in relation to the information provided.
The data that we process
Personal data is any information about an individual that can be used to identify that person directly or indirectly. When you use our Platform, we process personal information to contact or identify you, and we may also collect certain information automatically to ensure our website functions properly. We also collect personal data through your use of our services, such as when you create a profile or register to join
our community. We collect the following information:
| Service users | All visitors |
|---|---|
Identity Data: Full name, username or similar identifier, gender, image, biometrics (where permitted by law), marital status, title, Date of Birth, Bank Verification Number, passport number or other national ID numbers, employment details (for example, the organisation you work for, your job title), and family circumstances. Contact Data: Residential or business address, email address, country of residence, and telephone numbers. Financial Data: Bank account and payment card details, information about your income, liabilities, and credit history when required for lending decisions. Transaction Data: Transaction date, transaction time, and other details of products and services you have been provided by us. Technical and Device Data: Internet Protocol (IP) address, geographic location, device identifiers, contact lists, images and files, details of inbound and outbound calls, text messages, your login data, browser type and version, bluetooth data, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access this website. Profile Data: Such as your username and password, profile picture, product or service requests made by you, your interests, preferences, feedback, and survey responses. Usage Data: Details of how you use any product or service provided by Renmoney, details of how you like to use our website or the interactive products, tools, other technology or services we provide to you or our clients, applications installed and used on your device websites that you visited before and after visiting our website, details of how you like to interact with us, and similar information. Marketing and Communications Data: our preferences in receiving marketing data from us,our third parties, and your communication preferences. Other data we collect: Know Your Customer (KYC) and Anti-Money Laundering (AML) Data checks, sanctions, Sanctions and Politically Exposed Persons (PEP) screening, and CCTV recordings at our premises for security purposes | Technical and Device Data: Internet Protocol (IP) address, geographic location, device identifiers, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access this website. |
In some cases, we may also collect personal data about you from third parties, including but not limited to: (i) your employer; (ii) third parties such as providers of KYC and AML services which we use to help us meet our legal obligations and verify your identity where we provide you with products or services;
(iii) background check providers which we sometimes use to verify your identity when you apply to access our products; (iv) third- party service providers that help us to operate our platforms; (v) your
banks and financial institutions; and (vi) credit reference organisations.
We also collect your personal data from the chatbot available on our website. The chatbot handles first
level interactions for any inquiry that you may have. Please note that the chatbot is pre-programmed and
not powered by Artificial Intelligence. Where any inquiry you make falls outside the scope of the
chatbot’s preprogrammed responses, it will escalate your request to our agents.
Cookies and tracking technologies
We use tracking technologies on our website, and information about their usage is specified in our Cookies and tracking technologies notice.
Lawful bases for processing data
Lawful bases for proceWe are required to process your data under at least one of these lawful bases, as specified under the relevant data protection laws:
- Legitimate interest: Processing your data is necessary for our legitimate interests or the
legitimate interests of a third party, unless our legitimate interests are outweighed by your
interest, in which case we may not rely on this lawful basis. - Consent: You have given explicit consent for us to process your data for a specific purpose.
- Contract: The processing of your personal data is necessary to fulfil any contractual obligation
that we owe to you, or because we have asked you to take specific steps before entering that
contract. - Legal obligation: The processing of your personal data is necessary where there is a statutory obligation on us.
Purpose of Processing Your Data, Lawful Bases, Retention and Recipients
| Purpose of Processing | Lawful Bases for processing | Recipients |
|---|---|---|
Account opening and account
management:
|
Contractual obligation and legal obligation | Payment processors, KYC/AML service providers, regulators, auditors, and core banking system providers. |
Lending, credit scoring and loan assessment;
|
Contract, legitimate interest, and legal obligation | Credit reference agencies, payment service providers, debt recovery agents, regulators, auditors and professional advisers. |
Customer service and complaint
handling:
|
Contract, and legitimate interest | Customer relationship management platforms,professional advisers, and regulators (where required). |
Fraud prevention and security
|
Legitimate interest and legal obligation | Regulators, law enforcement,fraud-prevention agencies, professional advisers |
Marketing and Promotions
|
Consent | Marketing service providers, communication platforms and analytics providers acting on our instructions. |
Where consent is required for the collection of any Personal Data, your consent shall be requested prior to the collection of such Personal Data, and you reserve the right to withdraw such consent at any time. Note that where we rely on consent as the lawful basis to process your personal data, you can withdraw your consent at any time by clicking the necessary link provided on our platforms, emails, or by sending an email to dataprotection@renmoney.com, or by unsubscribing to our services. Where we process sensitive personal data relating to you, we will ensure to do so under the applicable legal basis.
Your Rights as a Data Subject
You are vested with certain rights as a data subject. They include the right to:
- Access personal data we hold about you by requesting a copy;
- Rectify such information where you believe it to be inaccurate or outdated;
- Restrict the processing of your data in certain circumstances;
- Object to the processing of your data where we intend to process such data for marketing purposes;
- Where feasible, receive all personal data you have provided to us—in a structured, commonly used, and machine-readable format—and transmit the information to another data controller;
- Request the erasure of your data (also known as the right to be forgotten);
- Withdraw your consent to processing your data;
- Standard Notice to Address Grievance (SNAG): You have a right to issue a SNAG against us where you believe that we have violated your right to privacy. A SNAG may be served by you personally or by your representative. It may be delivered to us by telephone message, e-mail, at our office at 23 Awolowo Road, Ikoyi, Lagos, Nigeria, or by any other means of correspondence of your choice. When you issue a SNAG, we will communicate our decision to you and to the NPDC through the NDPC’s designated portal. Please note that the SNAG is not a condition precedent for you to file a complaint with the NDPC;
- Lodge a complaint with the regulatory authority where you have reason to believe that we have violated the terms of this Notice. (You may complain or seek redress from us within 30 days from when you first detected the alleged violation.)
You may seek to exercise any of the above rights by emailing us at dataprotection@renmoney.com.
Retention of your data
Change of purpose
Security of data
We prioritise your privacy and use advanced measures to protect your data. While no online platform is entirely foolproof, we are dedicated to safeguarding your information against loss, misuse, and unauthorised access. We limit access to your personal data to those employees, agents, contractors and other third parties on a professional need-to-know basis. They will process your personal data only on our instructions and are subject to a duty of confidentiality. We have established procedures to address suspected personal data breaches and will notify you and any applicable regulator where legally required.
We use a range of physical, electronic, and managerial measures to ensure that your personal data is kept secure, accurate, and up to date. These measures include: education and training of relevant staff to ensure they are aware of our privacy obligations when handling personal data as well as training around social engineering, phishing, spear phishing, and password risks; administrative and technical controls to restrict access to personal data on a ‘need to know’ basis; technological security measures, including firewalls, encryption and anti-virus software; physical security measures, such as staff security passes to access our premises; external technical assessments, security audits and vendor due diligence; endpoint security: anti-virus, portable storage device lockdown, restricted administrative privileges; Real-time monitoring of data leakage controls; Layered and comprehensive cybersecurity defences; and Security incident reporting and management. Although we implement appropriate security measures to protect your personal data, data transmission over the internet is never completely secure. We endeavour to protect personal data using regulatory and industry best practices.
International transfer of data
Marketing and communications
Storage of your data
- We would request your consent before sending marketing communications.
- However, where, for some reason, we inadvertently send marketing communications to you, we would provide you with the option to opt out of receiving such marketing communications.
- You can opt out of our marketing or object to further processing by contacting us via email at dataprotection@renmoney.com and requesting to discontinue receiving marketing messages.
Breach/Privacy violation
Complaints
If you have any inquiries or complaints, please contact our Data Protection Officer (DPO) at dataprotection@renmoney.com. Our DPO will examine your concerns and update you on the resolution
process.
Changes to this Notice
We update our privacy notice occasionally. We will notify our users when we make a change, and visitors will know this by checking the last date of the update on this page whenever they visit. This Privacy Notice was last updated 18 February 2026.
Contact Us
Privacy Notice
Introduction
Renmoney Microfinance Bank Limited (“Renmoney”, “we”, “us”, or “our”) is a fintech company in Nigeria that offers personal and business loans, savings, investment products and other banking services.
This Privacy Notice (“Notice”) governs your use of our website (collectively, the “Platform”). We provide this Notice because you have a right to know what information we collect, why we collect it, how it is protected and used, and the circumstances under which it may be disclosed.
Terms of Use
You are required to comply with the provisions of our Terms of Use in relation to the information provided.The data that we process
Personal data is any information about an individual that can be used to identify that person directly or indirectly. When you use our Platform, we process personal information to contact or identify you, and we may also collect certain information automatically to ensure our website functions properly. We also collect personal data through your use of our services, such as when you create a profile or register to join our community. We collect the following information:
| Service users | All visitors |
|---|---|
|
Identity Data: Full name, username or similar
identifier, gender, image, biometrics (where
permitted by law), marital status, title, Date of
Birth, Bank Verification Number, passport
number or other national ID numbers,
employment details (for example, the organisation
you work for, your job title), and family
circumstances.
Contact Data: Residential or business address,
email address, country of residence, and telephone
numbers.
Financial Data: Bank account and payment card
details, information about your income, liabilities,
and credit history when required for lending
decisions.
Transaction Data: Transaction date, transaction time, and other details of products and services
you have been provided by us.
Technical and Device Data: Internet Protocol
(IP) address, geographic location, device
identifiers, contact lists, images and files, details
of inbound and outbound calls, text messages,
your login data, browser type and version,
bluetooth data, time zone setting and location,
browser plug-in types and versions, operating
system and platform, and other technology on the
devices you use to access this website.
Profile Data: Such as your username and
password, profile picture, product or service
requests made by you, your interests, preferences,
feedback, and survey responses.
Usage Data: Details of how you use any product
or service provided by Renmoney, details of how
you like to use our website or the interactive
products, tools, other technology or services we
provide to you or our clients, applications
installed and used on your device websites that
you visited before and after visiting our website,
details of how you like to interact with us, and
similar information.
Marketing and Communications Data: our preferences in receiving marketing data from us,our third parties, and your communication
preferences.
Other data we collect: Know Your Customer (KYC) and Anti-Money Laundering (AML) Data checks, sanctions, Sanctions and Politically Exposed Persons (PEP) screening, and CCTV
recordings at our premises for security purposes |
Technical and Device Data: Internet Protocol (IP) address, geographic location, device identifiers, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access this website. |
In some cases, we may also collect personal data about you from third parties, including but not limited to: (i) your employer; (ii) third parties such as providers of KYC and AML services which we use to help us meet our legal obligations and verify your identity where we provide you with products or services; (iii) background check providers which we sometimes use to verify your identity when you apply to access our products; (iv) third- party service providers that help us to operate our platforms; (v) your banks and financial institutions; and (vi) credit reference organisations.
We also collect your personal data from the chatbot available on our website. The chatbot handles first level interactions for any inquiry that you may have. Please note that the chatbot is pre-programmed and not powered by Artificial Intelligence. Where any inquiry you make falls outside the scope of the chatbot’s preprogrammed responses, it will escalate your request to our agents.
Cookies and tracking technologies
We use tracking technologies on our website, and information about their usage is specified in our Cookies and tracking technologies notice.Lawful bases for processing data
Lawful bases for proceWe are required to process your data under at least one of these lawful bases, as specified under the relevant data protection laws:- Legitimate interest: Processing your data is necessary for our legitimate interests or the legitimate interests of a third party, unless our legitimate interests are outweighed by your interest, in which case we may not rely on this lawful basis.
- Consent: You have given explicit consent for us to process your data for a specific purpose.
- Contract: The processing of your personal data is necessary to fulfil any contractual obligation that we owe to you, or because we have asked you to take specific steps before entering that contract.
- Legal obligation: The processing of your personal data is necessary where there is a statutory obligation on us.
Purpose of Processing Your Data, Lawful Bases, Retention and Recipients
| Purpose of Processing | Lawful Bases for processing | Recipients |
|---|---|---|
Account opening and account
management:
|
Contractual obligation and legal obligation | Payment processors, KYC/AML service providers, regulators, auditors, and core banking system providers. |
Lending, credit scoring and loan assessment;
|
Contract, legitimate interest, and legal obligation | Credit reference agencies, payment service providers, debt recovery agents, regulators, auditors and professional advisers. |
Customer service and complaint
handling:
|
Contract, and legitimate interest | Customer relationship management platforms,professional advisers, and regulators (where required). |
Fraud prevention and security
|
Legitimate interest and legal obligation | Regulators, law enforcement,fraud-prevention agencies, professional advisers |
Marketing and Promotions
|
Consent | Marketing service providers, communication platforms and analytics providers acting on our instructions. |
Where consent is required for the collection of any Personal Data, your consent shall be requested prior to the collection of such Personal Data, and you reserve the right to withdraw such consent at any time. Note that where we rely on consent as the lawful basis to process your personal data, you can withdraw your consent at any time by clicking the necessary link provided on our platforms, emails, or by sending an email to dataprotection@renmoney.com, or by unsubscribing to our services. Where we process sensitive personal data relating to you, we will ensure to do so under the applicable legal basis.
Your Rights as a Data Subject
You are vested with certain rights as a data subject. They include the right to:
- Access personal data we hold about you by requesting a copy;
- Rectify such information where you believe it to be inaccurate or outdated;
- Restrict the processing of your data in certain circumstances;
- Object to the processing of your data where we intend to process such data for marketing purposes;
- Where feasible, receive all personal data you have provided to us—in a structured, commonly used, and machine-readable format—and transmit the information to another data controller;
- Request the erasure of your data (also known as the right to be forgotten);
- Withdraw your consent to processing your data;
- Standard Notice to Address Grievance (SNAG): You have a right to issue a SNAG against us where you believe that we have violated your right to privacy. A SNAG may be served by you personally or by your representative. It may be delivered to us by telephone message, e-mail, at our office at 23 Awolowo Road, Ikoyi, Lagos, Nigeria, or by any other means of correspondence of your choice. When you issue a SNAG, we will communicate our decision to you and to the NPDC through the NDPC’s designated portal. Please note that the SNAG is not a condition precedent for you to file a complaint with the NDPC;
- Lodge a complaint with the regulatory authority where you have reason to believe that we have violated the terms of this Notice. (You may complain or seek redress from us within 30 days from when you first detected the alleged violation.)
You may seek to exercise any of the above rights by emailing us at dataprotection@renmoney.com.
Retention of your data
The personal data we process will be stored for as long as necessary to fulfil the purposes described in this Notice. However, we will also retain data as required by applicable laws, resolve disputes, prevent fraud and abuse, and enforce our legal agreements and policies. In addition, we delete your data for targeted marketing purposes once you unsubscribe from our marketing communications and request deletion. Please note that your data may be retained for a longer period, notwithstanding your request to remove it, where there is a legal requirement to do so.Change of purpose
We will only use your personal data for the purposes for which we collected it unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If you would like an explanation of how processing for the new purpose is compatible with the original purpose, please contact us. If we need to use your personal data for an unrelated purpose, we will notify you and explain the legal basis for doing so. Where such purpose can only be conducted based on your consent, we shall appropriately give you the opportunity to give or refuse your consent. Please note that we may process your personal data without your knowledge or consent where this is required or permitted by law.Security of data
We prioritise your privacy and use advanced measures to protect your data. While no online platform is entirely foolproof, we are dedicated to safeguarding your information against loss, misuse, and unauthorised access. We limit access to your personal data to those employees, agents, contractors and other third parties on a professional need-to-know basis. They will process your personal data only on our instructions and are subject to a duty of confidentiality. We have established procedures to address suspected personal data breaches and will notify you and any applicable regulator where legally required.
We use a range of physical, electronic, and managerial measures to ensure that your personal data is kept secure, accurate, and up to date. These measures include: education and training of relevant staff to ensure they are aware of our privacy obligations when handling personal data as well as training around social engineering, phishing, spear phishing, and password risks; administrative and technical controls to restrict access to personal data on a ‘need to know’ basis; technological security measures, including firewalls, encryption and anti-virus software; physical security measures, such as staff security passes to access our premises; external technical assessments, security audits and vendor due diligence; endpoint security: anti-virus, portable storage device lockdown, restricted administrative privileges; Real-time monitoring of data leakage controls; Layered and comprehensive cybersecurity defences; and Security incident reporting and management. Although we implement appropriate security measures to protect your personal data, data transmission over the internet is never completely secure. We endeavour to protect personal data using regulatory and industry best practices.
International transfer of data
We transfer personal data outside our country of operation. We ensure that any cross-border data transfers comply with all applicable data protection regulations. This means that before transferring personal data,we either confirm that the recipient country has robust data protection laws or, if not, employ specific contractual terms and other safeguards to protect the data. If the destination country does not meet stringent data protection standards, we will use an appropriate data transfer mechanism, seek authorisation from the relevant regulator, obtain your consent, and inform you of any associated risks. If you would like to learn more about how we ensure data protection during these transfers, we will provide details upon request.Marketing and communications
We would request your consent before sending marketing communications. However, where, for some reason, we inadvertently send marketing communications to you, we would provide you with the option to opt out of receiving such marketing communications. You can opt out of our marketing or object to further processing by contacting us via email at dataprotection@renmoney.com and requesting to discontinue receiving marketing messages.Storage of your data
All personal data you provide to us may be stored in our secure cloud-based data storage, on our premises, in off-site locations, and in network-accessible storage, including external drives, only for authorised users. We will take all reasonably necessary steps to ensure your data is handled securely and in accordance with this Privacy Notice. We erase/delete personal data in the event of any of the following:- We would request your consent before sending marketing communications.
- However, where, for some reason, we inadvertently send marketing communications to you, we would provide you with the option to opt out of receiving such marketing communications.
- You can opt out of our marketing or object to further processing by contacting us via email at dataprotection@renmoney.com and requesting to discontinue receiving marketing messages.