Thank you for visiting our website at www.lotusbank.com. At LOTUS Bank Limited (hereinafter referred to as "LOTUS Bank"), we take your privacy seriously and are committed to treating your personal information as confidential while ensuring the highest level of security in compliance with relevant data protection laws at all points of your interaction with us.
This Privacy Notice describes what personal information we collect, how this information will be used, shared, and protected when you visit this website and make use of our services. It also states your rights as a data subject.
The Privacy Notice (together with our Terms and Conditions) sets out the basis on which your personal data will be processed by us. Please read the following carefully to understand our practices regarding the handling of your personal data.
By continuing to visit our website (www.lotusbank.com) and all other LOTUS Bank customer touchpoints, you accept and consent to the practices described in this policy.
To achieve our goal of providing you with great service, we collect information when you visit our website, which include information about your computer (or mobile device), including where available your IP address, operating system and browser type which shows statistical data about our users' browsing actions and patterns, and does not identify any individual. We use this information to better your experience and improve our services. We will not disclose your information to any person outside our organization except as described in this Privacy Notice.
Cookies are small text files stored on the browser of your computer or mobile device used to access a website when you visit. They help that website remember information about your visit, which can both make it easier to visit the site again and make the site more useful to you
The collection and use of personal data by LOTUS Bank are guided by the extant data protection laws, which state that personal data should:
Any personal information provided by you to LOTUS Bank will be used with your consent, or when we have another lawful reason. These include.
Your personal information is used in:
We may also collect, use and exchange your information in other ways as permitted by law.
We also use automated systems for decision making, for example, to make financing decisions, to carry out security, fraud and money laundering checks, or to process your data when you apply for some of our products and services.
This type of processing is carried out under lawful basis, and you can contact us to request that automated processing be reviewed by a human being if you detect any inaccuracies in your personal data.
We may share the information about you and your dealings with us, to the extent permitted by law, with the following:
We may also disclose information about you if we determine that disclosure is reasonably necessary to enforce our terms and conditions or protect our operations or users. Additionally, in the event of a reorganization, merger, or sale we may transfer all personal information we collect to the relevant third party.
Information about our customers and their usage of our website is not shared with third parties for their marketing purposes. We do not disclose any information about any user’s usage of our web site except in specific cases, and we do not share information with any unaffiliated third parties for marketing purposes unless you expressly give us permission to do so.
We take appropriate technical and organizational measures to prevent loss, unauthorized access, misuse, modification or disclosure of information under our control. This may include the use of encryption, access controls and other forms of security to ensure that your data is protected. We require all parties including our staff and third-parties processing data on our behalf to comply with relevant policies and guidelines to ensure that information is protected in use, when stored and during transmission.
Where we have provided you (or where you have chosen) a password which grants you access to specific areas on our site, you are responsible for keeping this password confidential. We request that you do not share your password or other authentication details (e.g., token generated codes) with anyone.
All Personal Information you provide to us is stored on our secure servers - physical locations and cloud infrastructure. The data that we collect from you may be transferred to and stored at a destination outside Nigeria or the European Economic Area ("EEA"). Whenever your information is transferred to another location, we will take all necessary steps to ensure that your data is handled securely and in accordance with this privacy notice.
We retain your data for as long as is necessary for the purpose(s) that it was collected. Storage of your data is also determined by legal, regulatory, administrative or operational requirements. We only retain information that allows us to comply with legal and regulatory requests for certain data, meet business and audit requirements, respond to complaints and queries, or address disputes or claims that may arise.
Data which is not retained is securely destroyed when it is identified that it is no longer needed for the purposes for which it was collected.
Your rights include.
You also have the right to:
Keeping your account information accurate and up to date is very important. You have access to your account information, which includes your contact information, account balances, transactions and similar information through various means, such as account statements and Internet Banking.
If you discover any inaccuracies in your personal information, please promptly notify us, via our branch network or Contact Centre, and provide the required documentary evidence, to enable us to implement the necessary updates or changes.
LOTUS Bank comprises of LOTUS Bank branches in Nigeria nationwide.
LOTUS Bank's websites, products, applications, and services may contain links to third-party websites, products and services. Our products and services may also use or offer products or services from third parties. Information collected by third parties, which may include such things as location data or contact details is governed by their privacy practices and LOTUS Bank will not be liable for any breach of confidentiality or privacy of your information on such sites. We encourage you to learn about the privacy practices of those third parties.
LOTUS Bank's Policy contains the following disclosure statement for children:
"LOTUS Bank respects the privacy of children. We do not knowingly collect names, email addresses or any other personally identifiable information from children. We do not knowingly market to children, nor do we allow children under 18 to open online accounts."
LOTUS Bank may sometimes contact you with products or services that we think may be of interest to you. If you do not want to receive such promotional materials from us, you may opt out at any time.
This policy may be revised on an ad-hoc basis to reflect the legal, regulatory and operating environment and such revised versions will automatically become applicable to you. We will post any revisions we make to our Privacy Notice on this page and such revisions becomes effective as at the time it is posted. We will notify you when any changes to our privacy notice have been made. We also encourage you to check this page from time to time for updates to this policy.