Back to Home

Privacy Policy

Last updated: April 2026

Introduction

At LOOP, we are committed to protecting your privacy and ensuring you have a positive experience on our platform. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our mobile application, website, and related services (collectively, the "Service").

Please read this Privacy Policy carefully. If you do not agree with our policies and practices, please do not use our Service. Your use of LOOP indicates your acceptance of this Privacy Policy.

1. Information We Collect

Personal Information You Provide

  • Account Information: Name, email address, phone number, date of birth, and identification documents
  • Financial Information: Bank account details, transaction history, loan requests, and savings data
  • Contact Information: Address, emergency contacts, and communication preferences
  • Communication Data: Messages, support requests, and feedback you send to us

Information Collected Automatically

  • Device Information: Device type, operating system, unique device identifiers, and mobile network information
  • Usage Data: Features accessed, transaction patterns, and time spent on the app
  • Location Data: Approximate location based on IP address (with your consent)
  • Log Data: Server logs including timestamps, IP addresses, and error information

Information From Third Parties

We may receive information from cooperative partners, financial institutions, and identity verification services to verify your account and prevent fraud.

2. How We Use Your Information

We use collected information for the following purposes:

  • Providing, maintaining, and improving the LOOP Service
  • Processing transactions and sending related information
  • Creating and managing your account and profile
  • Verifying your identity and preventing fraud
  • Complying with legal and regulatory requirements
  • Sending administrative and promotional communications (with consent)
  • Analyzing usage patterns to improve user experience
  • Responding to your inquiries and customer support requests
  • Protecting against illegal activities and enforcing our terms

3. How We Share Your Information

Service Providers

We share information with trusted third parties who perform services on our behalf, including payment processors, identity verification providers, and cloud storage providers.

Cooperative Partners

We share necessary information with your cooperative and member institutions to process loans, savings, and utility transactions.

Legal Requirements

We may disclose your information if required by law, court order, or government request, or if we believe in good faith that such disclosure is necessary to protect our rights or your safety.

What We Do NOT Share

We will never sell, rent, or trade your personal information to third parties for marketing purposes without your explicit consent.

4. Data Security

We implement comprehensive security measures to protect your personal information, including:

  • End-to-end encryption for sensitive transactions
  • Secure SSL/TLS connections for all data transmission
  • Regular security audits and penetration testing
  • Access controls and authentication requirements
  • Encrypted storage of sensitive information
  • Continuous monitoring for suspicious activities

However, no method of transmission over the internet is 100% secure. While we strive to protect your information, we cannot guarantee absolute security.

5. Your Privacy Rights

Depending on your location, you may have the following rights:

  • Right to Access: Request a copy of your personal information
  • Right to Correction: Update or correct inaccurate information
  • Right to Deletion: Request deletion of your account and data (subject to legal requirements)
  • Right to Opt-Out: Withdraw consent for specific data uses
  • Right to Data Portability: Export your data in a structured format
  • Right to Lodge a Complaint: File complaints with relevant data protection authorities

6. Data Retention

We retain your personal information for as long as necessary to provide our services and fulfill the purposes outlined in this policy. Retention periods vary depending on the type of information and the purpose:

  • Account Data: Retained while your account is active and for 30 days after deletion
  • Transaction Records: Retained for 7 years to comply with financial regulations
  • Communication Data: Retained for 2 years or as required by law
  • Analytics Data: Retained for 12 months in anonymized form

7. Children's Privacy

LOOP is not intended for users under the age of 18. We do not knowingly collect personal information from minors. If we become aware that a minor has provided us with information, we will promptly delete such information and terminate the minor's account. If you believe a minor has provided us with information, please contact us immediately.

8. Cookies and Tracking Technologies

We use cookies, web beacons, and similar tracking technologies to enhance your experience, remember your preferences, and analyze usage patterns. You can control cookie settings through your device or browser settings.

We use both session-based and persistent cookies. Session cookies expire when you close your browser, while persistent cookies remain on your device until you delete them.

9. Third-Party Links

Our Service may contain links to third-party websites and applications. This Privacy Policy applies only to LOOP. We are not responsible for the privacy practices of third-party services. We encourage you to review their privacy policies before providing your information.

10. International Data Transfer

Your information may be transferred to, stored in, and processed in countries other than your country of residence. These countries may have data protection laws that differ from your home country. By using LOOP, you consent to the transfer of your information to countries outside your country of residence, which may provide a different level of data protection.

11. Contact Us

If you have questions about this Privacy Policy or our privacy practices, please contact us:

LOOP Financial Services

📧 Email: privacy@loop.app

📱 Phone: +(234) 903 835 8375

📍 Address: Lagos, Nigeria

12. Changes to This Privacy Policy

We may update this Privacy Policy from time to time to reflect changes in our practices or applicable laws. We will notify you of material changes by updating the "Last Updated" date at the top of this policy. Your continued use of LOOP after changes become effective constitutes your acceptance of the updated Privacy Policy.