Information Collected by TachyLoans
When the User registers with TachyLoans, the User may be asked to provide Personal Data including without limitation: (1) personally identifiable information, which includes any information about the User that could reasonably be used to identify him/her in person, such as User’s name, gender, occupation, business name, address, email address, date of birth, date of incorporation, any photo identity proof, address proof, phone number, health condition including details of any known major/serious ailment etc. (“Personal Information”); and, (2) financial information such as User’s income, credit/debit card details, bank details, financial accounts details, credit report information, reasons for seeking finance, income sources, credit score and history of the Users’ bank accounts and recent banking transactions, status and terms of any other loans, information on the User’s transactions, repayment history etc,. (“Financial Information”). Personal Data shall also include the information of such third parties that TachyLoans may have access to during the course of providing the Services to the Users. TachyLoans may also collect recurring information of the User’s geographic locations on a continuous basis.
In addition to any Personal Data that the User chooses to submit to the Company, the Company, its affiliates and its third-party service providers may use a variety of technologies that automatically collect certain information, including but not limited to usernames, passwords, phone number(s), email ids, geographical location and other security and usage related information, whenever the User visits or utilizes the Services (“Usage Information”). The Company also automatically receives and records information that User’s browser sends whenever User visits TachyLoans. Further, these server logs may include information such as User’s IP address or unique identifiers of the device such as VPN, information of WIFI connectivity and such other information (“Device Identifier”), browser type, browser language, the date and time of User’s request, pages viewed, time spent on TachyLoans and one or more cookies that may uniquely identify the User’s browser, from his/her computer or other device used to access the Services (the “Device”). A Device Identifier is a number that is automatically assigned to the User’s Device, used to access the Services, and the Company’s computers identify User’s Device by its Device Identifier.
Usage of Information
TachyLoans may use the Personal Data and other information collected for any of the following purposes
- to effectively and accurately provide the Services to the Users;
- to effectively communicate/ notify with the Users regarding the Services;
- for the purposes of software verification or administering software upgrades;
- to allow the User to participate in surveys regarding Services;
- to generate Borrower/Lender profile on the platform;
- to undertake credit assessment of Borrower’s risk profile and thereby assign a TachyLoan credit rating which may be used to suggest Borrower profiles to the prospective Lenders;
- to prevent fraud and money laundering by any of the Lenders/Borrowers;
- to maintain the quality of the Services and provide general statistics regarding their use;
- to improve customer service (User’s Personal Data may help TachyLoans to more effectively respond to the customer service requests and support needs);
- provide custom, personalized content and information;
- monitor the effectiveness of marketing campaigns of TachyLoans;
- monitor aggregated metrics such as total number of visitors and traffic;
- Compiling statistical data for example credit scoring/ rating information;
- to deliver Services, including email notifications, confirmations, technical notices, updates, security alerts, and support and administrative messages that the User may request;
- archival or backup purposes;
- to alert the Users about updated information and other such new or updated services that may be offered by other Users;
- to allow access to exclusive features or functionality of the App; and
- to launch and/or open other mobile applications installed on the User’s device based on functionality of App.
Sharing of Personal Data
The Company shall not rent, sell, or otherwise provide Personal Data received from the User to third parties without consent of the User, except as described in this Policy or as required by law. However, the Company and its affiliates reserve the right to share, sell and transfer some or all of the Personal Data to other business entities should the Company, or its assets, plan to merge with, or be acquired by that business entity.
When the Borrower makes a credit offer or any such communication for a loan through TachyLoans, the Company may disclose the Personal Data of such Borrower to the Lenders in accordance with the terms as specified in the Lending Policy.
TachyLoans may share the Personal Data received from the User with the Company’s other corporate entities and affiliates in connection with matters relating to the consumption of Services by the User, including participating banks, financial institutions, credit bureaus and other third party service providers, to facilitate fund transfer between Lenders & Borrowers and further repayments to Lenders; to help detect and prevent identity theft, fraud and money laundering or any other potentially illegal acts; correlated or multiple accounts to prevent abuse of Services; and to facilitate joint or co-branded services that the User requests where such services are provided by more than one corporate entity other than the Company.
The Company has implemented commercially reasonable physical, managerial, operational and technical security measures to protect the loss, misuse, alteration and security of the Personal Data received from the User in the Company’s care. The Company’s security practices and procedures limit access to Personal Data on need to know basis only. Such measures may include, where appropriate, the use of firewalls, secure server facilities, implementing proper access rights management systems and processes, careful selection of processors, standard authentication and encryption policies for its servers and other technically and commercially reasonable measures.
TachyLoans Security Policy
The User agrees and acknowledges that the Personal Data and other information are stored on the secured servers and/ or data centres that may be placed in India or outside India. The Company is committed to protecting the security of any Personal Data and uses reasonable efforts including a variety of security technologies and procedures to help protect such Personal Data from any unauthorized access, use or disclosure. The Company will take all reasonable measures in furtherance of the above commitment. However, the Company cannot guarantee that the Personal Data received from the Users and other information stored on the servers will be absolutely protected. Company’s systems and the communication networks through which the Users access TachyLoans may be subject to security breaches and failures due to circumstances beyond Company’s reasonable control. These may include computer "hacking", data theft or and physical theft among others. In such situations, the Company will try to rectify the problems as soon as possible.
Any data destroyed shall be disposed of in a manner that protects the privacy of the Personal Data received by the App/Website from the User in an appropriate manner as per the industry standard practices and norms.
To ensure and maintain standards of data protection and information security, the Company complies with and maintains the International Standard IS/ISO/IEC 27001 on “Information Technology – Security Techniques – Information Security Management System – Requirements” in accordance with the Reasonable Security Practices and Procedures as stipulated under the Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011.
The user hereby expressly agree to be contacted by tachyloans or any of its representatives/associates over email & mobile and understand that this authorization overrides his/her DND registration.
Links to Third Party Websites
International Transfer of Data
In the process of providing Services to its Users, TachyLoans may transfer the Personal Data and other information that it collects to affiliated entities or other third parties across borders, and from the User’s country or jurisdiction to other countries or jurisdictions around the world. The Users understand, acknowledge and consent to transferring information and permitting the transfer of information, including Personal Data, to a country and jurisdiction that does not have the same data protection laws as the User’s jurisdiction. The User hereby consents to the transfer of his/ her information across countries or jurisdictions around the world.
The usage of the Services is exclusively governed by the laws of India and the jurisdiction of the courts in the State of Karnataka. The Company expressly disclaims any implied warranties or liabilities imputed by the laws of any other jurisdiction.
Any changes in this Policy by the Company shall be posted on TachyLoans to reflect changes in its policy so that the User is always aware of what information the App collects, uses, and under what circumstances, if any, the App may disclose it. The User should periodically review the abovementioned page for the latest information on the App’s privacy practices. Once posted, those changes are effective immediately. Continued access or use of the Application constitutes the User’s acceptance of the changes and the amended Policy.
TachyLoans may use third-party advertising companies to serve advertisements when the User contacts it. These companies may use information (not including name, address, email address, or telephone number of the user) about the User’s visits to this and other websites in order to provide advertisements about goods and services of interest to the user.
To ensure and maintain standards of data protection and information security, the App will secure the information which the User provides in accordance with applicable laws and industry standards and technology to protect the loss, misuse, and alteration of the User’s information under Company’s control. Whenever the User changes or accesses his/ her account information, the App offers the use of a secure server. Once the user information is in the App’s possession, the Company adheres to strict security guidelines, protecting it against unauthorized access.
In accordance with Information Technology Act, 2000 and rules made there under, the name and contact details of the Grievance Officer are as under:
Name: Mr. Manav
Email Id: email@example.com
In the event any user intends to make a complaint regarding any violation of the provisions of this Policy, the Users may send a written complaint to the Grievance Officer, who shall redress the complaint within 60 working days.