Line of Credit available through ‘SNAPMINT CREDIT ADVISORY PRIVATE LIMITED’ are provided by our partner banks. Personal information connected to the application is shared with the banks.
Information we collect about you:
When you register to use ‘SNAPMINT CREDIT ADVISORY PRIVATE LIMITED’ services by applying for a line of credit through partner merchant websites or through our website, we collect your name, email-id, mobile number, Permanent Account Number (PAN) and shipping/current residence address. We may also collect additional information from you in order to enable us to verify your identity. We may collect your financial information to determine your qualification for the credit line. We may disclose this information for the purposes of credit reporting as required by the Reserve Bank of India and to the Reserve Bank of India regulated lender (Snapmint Financial Services, AU Small Finance Bank, Incred Finance and LiquiLoans) with whom you have signed an agreement for the purchase made on Snapmint.
In order to help us further identify you, we may also gather information about the device you are using to access the services or the Site, including any information about the device, its location, IP address of the device and any other information sent to us by the device. We may also gather information about your use of our Site or any merchant website, including your interaction with the credit line application, your past use of the ‘SNAPMINT CREDIT ADVISORY PRIVATE LIMITED’ service; any past purchases that you’ve made using the service and any actions you have taken relating to your application.
We may also obtain information about you from third party sources. For example, we work with identity verification companies that will help us identify you. As part of the qualification process, we will obtain information about you, including your personal information and credit report, from credit reporting agencies.
Our app may further collect following information for credit assessment purpose, to uniquely identify you and prevent frauds and unauthorized access by fraudsters. Any acceptance or denial of such permissions may affect your approval process.
FINANCIAL SMS INFORMATION
We DO NOT collect, read or store your personal SMS from your inbox.We collect and monitor only financial SMSs sent by 8-digit alphanumeric senders from your inbox which eventually helps us in identifying the bank accounts which you may be holding, your cash flow patterns, description and amount of the transactions undertaken by you as a user which will help us perform a credit risk assessment and enables us to determine your risk profile and provide you with the appropriate credit analysis. This will enable you to take various financial facilities offered by regulated financial entities available on such Platforms. This Financial SMS data also includes your historical SMS data sent by 8-digit alphanumeric senders.
Your data is neither shared with any third party nor used for any marketing purposes.
You may revoke access to SMS data at anytime. In such cases we may not be able to increase your limits from time to time.
DEVICE LOCATION AND DEVICE INFORMATION
We collect and monitor the information related to the location of your device in order to enable us to provide serviceability with respect to your application, to reduce risk associated with your application and to provide pre-approved personalized offers against your credit line. This further helps us to verify your address, make a well informed credit risk decision and expedite the entire know your customer (KYC) process.
Information the App collects, and its usage, depends on how you manage your device’s privacy controls. When you install the App, we store the information we collect with unique identifiers tied to your device.
We collate information from the device when you download and install the App and explicitly seek permissions from you to get the required information from the device.
The information we collect from the device include the OS version, brand, build model, RAM (available & total), internal & external storage (available & total), display language, unique device identifiers; SIM information that includes network operator and network type; to uniquely identify your devices and ensure that no unauthorized devices acts on your behalf which helps us in preventing frauds.
We collect a list of the installed application's metadata information which shall include the application name, package name, and package path of each installed application on your device, and send it to Snapmint backend servers to enable us to assess your creditworthiness and enrich your profile with pre-approved personalized offers against your line of credit. Users with fraudulent/phishing apps and non-Playstore apps are flagged in our system.
We collect a list of the accounts logged in on your device for id verification which further helps us to ensure that no unauthorized user act on your behalf to help us prevent frauds.
We seek the camera information permission which helps us to provide you with easy/smooth experience and enable you to click photographs of your KYC documents along with other requisite documents as required and upload the same on the App with utmost ease during your application journey.
We seek microphone permissions to enable a two-way communication between our agent and you for performing and completing your video KYC process. We may record and storethe video KYC for further verification and regulatory purpose.
We seek storage permission which will help us to securely download your KYC and other relevant documents and save the same on your device. this will further make it easy for you to upload the correct KYC related documents with ease for filling the application details faster and process your application even more quicker. This also ensures that you are provided with a seamless experience while using the application.
How and when your information is shared with other parties:
We work with many partner merchants, vendors and banks. These partners include credit reporting agencies, financial service providers, identity verification services, service providers and electronic payment service providers. We may share your information with any of our vendors or partners which allow them to perform the service which they have agreed with us. In each case, such exchange is governed by data security agreements to prevent sharing of your information (accept in cases where any part of the information needs to be shared to provide services or is required by law).
Our partner banks have access to all information which you share with us. We might also share information with the merchant on whose website you are using our services.
We may also share your information in response to a judicial proceeding, court order or legal process or for the purpose of preventing fraud or criminal activity, as mandated by the law or to protect our legal rights.
How we may use your information:
Some of our employees and our representatives will have access to your information. We have robust rules and guidelines in place to ensure that this information is protected and kept confidential.
We will use your information for our everyday business activities, including working with the banks to investigate your credit worthiness. Processing transactions with you, collecting repayment amounts on your account, resolving disputes or otherwise to maintain your account. We may also use your information to reduce risk of fraudulent transactions and to better assess credit risk. For this reason, some of our employees and representatives will have access to your information. In this case, employees are required to comply with our data privacy policies to keep all such information confidential.
How we safeguard your information:
We maintain strong security safeguards to ensure the security and confidentiality of your personal information, protect against any anticipated threats to the security of your personal information, protect against unauthorized access to your information, and ensure the proper disposal of your personal information. We have adopted a comprehensive security policy that complies with law and regulations and reflects industry standards.
Our security policy requires us to consistently monitor the risk of any threats to the administrative, technical, and physical safeguards we have put in place to protect your information. The safeguards include, at a minimum, firewalls and data encryption and restricting access to your personal information only to those employees who have a need to know such information to carry on our operations. Further, access to our physical office is restricted only to our employees and representatives. These safeguards are reviewed and adjusted periodically based on ongoing risk assessments.