Privacy Policy of ADVANZ

Effective Date:01-09-2024 (Version 1.0)

At ADVANZ ("we," "our," or "us"), we are committed to safeguarding the privacy and security of your personal, financial, and business information. As a leading Fintech and Loan Service Provider (LSP) for Indian businesses, our responsibility to protect the data of our clients, business partners, and service users is paramount. This Privacy Policy outlines our data practices, including collection, storage, usage, sharing, and protection of information in compliance with applicable Indian laws, including but not limited to the Information Technology Act, 2000, and the associated rules governing data protection.

By using our services, website, or mobile applications, you agree to the terms set forth in this Privacy Policy. Please review it carefully to understand how your data is processed.

1. Introduction

ADVANZ provides comprehensive financial solutions to Indian businesses by partnering with Financial Institutions, Non-Banking Financial Companies (NBFCs), Banks, and other regulated entities. This Privacy Policy applies to all products, services, and interactions you have with us, regardless of how you access them (via our website, mobile applications, or through third-party platforms).

Thank you for getting in touch with us. A member of our team will be in touch with
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This document covers:

What data we collect
How we use and share your data
Your rights concerning your data
Our legal obligations and security measures
How you can contact us regarding privacy concerns

2. Information We Collect

We collect information directly from you, through third-party service providers, and automatically when you access our services. The types of data collected can be categorised as follows:

a. Personal Information

We collect and process the following personal data:

Identity Information: Full name, date of birth, gender, and any government-issued identification numbers such as PAN, Aadhaar, Voter ID, or Driving License.
Contact Information: Address, email address, phone numbers, or other contact details.
KYC Information: Know Your Customer (KYC) information as required by law, including documentation to verify your identity and address.
Photographs and Biometric Data: Passport-size photographs, biometric identifiers like fingerprints or facial recognition, when necessary.

b. Financial Information

As a fintech company, we gather financial data to provide services such as loans, credit assessments, and other financial products:

Bank Account Details: Account numbers, IFSC codes, and other relevant banking information.
Credit History: Details about credit scores, loan applications, outstanding debts, and repayment history.
Transaction Information: Records of transactions made through or facilitated by our platform, including payment methods and amounts.
Income Information: Salary, turnover, tax filings, and other information relevant to your financial standing.

c. Business Information

For business entities using our services, we collect:

Business name, type, registration numbers, GSTIN, corporate structure.
Tax records, financial statements, and banking details.
Transaction and investment histories, and any other data required for financial analysis and creditworthiness assessments.

d. Information from Financial Institutions

We collect relevant data from our partner banks, NBFCs, and financial institutions, such as:

Loan approval statuses, interest rates, terms, and conditions of your financial products.
Data required for underwriting, risk profiling, and other due diligence processes.

e. Automatically Collected Information

When you use our website or mobile apps, we may automatically collect the following information:

Technical Data: Your IP address, browser type, operating system, and device identifiers.
Usage Data Information regarding your usage patterns, pages visited, time spent on our platform, and interactions with services.
Cookies and Tracking Technologies: : We use cookies, beacons, and similar technologies to track your behaviour and preferences on our platforms.

f. Information from Third-Party Sources

We may receive your data from:

Credit bureaus and financial data aggregators for risk profiling.
Government bodies, legal repositories, or publicly available databases.
Marketing or advertising partners for promotional and re-marketing purposes.

3. Legal Basis for Processing

We process your personal information based on one or more of the following legal grounds:

Consent: Where you have provided consent for the processing of your data (e.g., marketing, promotional emails).
Contractual Necessity: Where data processing is necessary to fulfill our contractual obligations, including providing you with financial services and solutions.
Legal Obligations: To comply with applicable Indian laws, including tax regulations, KYC norms, and AML (Anti-Money Laundering) requirements.
Legitimate Interest: Where the processing of your data is necessary for the legitimate interests of ADVANZ, such as fraud prevention, improving our services, or performing internal analysis.

4. How We Use Your Information

The information we collect is used for the following purposes:

a. Service Delivery

To facilitate loan applications, process credit assessments, disburse funds, and manage accounts..
To verify your identity, conduct due diligence, and perform compliance checks.
To provide you with personalised financial products tailored to your needs.

b. Compliance with Legal and Regulatory Requirements

To comply with KYC and AML requirements and other regulatory obligations.
To detect, prevent, or address any fraud, security breaches, or unlawful activities.
To report to regulatory authorities as required under Indian law

c. Risk Assessment and Management

To evaluate creditworthiness and assess financial risks.
To monitor transactions for unusual activity or patterns indicative of fraud or suspicious activity.

d. Improving Services and Customer Support

To better understand user preferences and improve our products and services.
To provide customer support, respond to inquiries, and handle complaints or disputes.
To conduct internal audits, troubleshooting, and data analysis to optimise our platform.

e. Marketing and Communication

To inform you about product updates, new services, offers, and promotional events.
To tailor our communications and marketing efforts to your interests, including retargeting through digital ads.
To provide information on third-party offers that may be relevant to you, subject to your consent

f. Research and Development

To conduct analytics and market research to identify trends, understand user behaviour, and develop new financial solutions.

5. Data Sharing and Disclosure

Your information may be shared with third parties under certain circumstances, as detailed below:

a. With Partner Financial Institutions

We share your data with our partner NBFCs, banks, and other financial institutions to:

Process loan applications, assess credit risks, and disburse loans.
Share loan repayment schedules, credit scores, and other relevant financial data.
Collaborate with financial entities for co-lending, risk-sharing, or regulatory requirements.

b. With Third-Party Service Providers

We engage trusted third-party service providers to perform certain functions on our behalf, such as:

Identity verification, background checks, and KYC/AML compliance.
Payment processing, loan disbursement, and collection services.
Data hosting, IT infrastructure, and security services.
Analytics, marketing services, and customer relationship management (CRM) tools.

These service providers have access to your data only to the extent necessary to perform their services and are bound by confidentiality agreements.

c. For Legal Compliance

We may disclose your information to government authorities or law enforcement officials in response to:

A legal process, such as a subpoena, court order, or regulatory requirement.
Situations involving suspected fraud, illegal activities, or a breach of our Terms of Service.

d. Business Transfers

In the event of a merger, acquisition, restructuring, or sale of assets, your data may be transferred to the acquiring entity, subject to the same levels of privacy protection.

e. With Your Consent

In other cases, we will share your information only with your explicit consent

6. Data Retention

We retain your personal and financial data only as long as it is necessary to fulfill the purposes for which it was collected or to comply with legal, accounting, or regulatory obligations. The retention periods vary depending on the nature of the data and the applicable legal requirements. Key retention periods include:

KYC Data: Retained for a minimum period as required by law, typically five to seven years after the end of the business relationship.
Financial Transactions:Retained as required under Indian tax and financial regulations.
Marketing Data: Retained until you opt out of receiving marketing communications.

Once the retention period expires, your data will either be securely destroyed or anonymized to prevent identification.

7. Data Security

At ADVANZ, we implement robust security measures to protect your information from unauthorised access, alteration, disclosure, or destruction. Our security protocols include:

Encryption: All sensitive data, including financial and personal information, is encrypted both in transit and at rest.
Access Control:We limit access to your data to authorised personnel only, with strict authentication and access control protocols.
Secure Infrastructure:Our platform is hosted on secure, monitored servers with real-time threat detection.
Regular Audits:We conduct regular security audits and vulnerability assessments to ensure compliance with industry standards.

Despite our best efforts, no system can guarantee absolute security. We advise you to take precautions, such as protecting your account credentials and using secure networks when accessing our services.

8. Your Rights

As a user of our services, you have specific rights regarding your personal data under applicable Indian laws:

a. Access to Your Data

You have the right to request access to the personal data we hold about you, including a copy of the data and details on how we process it.

b. Correction of Inaccuracies

If any of your personal or financial information is inaccurate or outdated, you have the right to request corrections or updates.

c. Data Portability

You may request a copy of your data in a structured, machine-readable format that can be transferred to another service provider.

d. Right to Withdraw Consent

You can withdraw your consent to the processing of your data at any time. However, this may impact your ability to use certain features or services provided by ADVANZ.

e. Right to Erasure

You can request that we delete your data under certain circumstances, such as when it is no longer necessary for the purposes for which it was collected, or if you withdraw consent.

f. Marketing Opt-Out

You have the right to opt out of receiving marketing and promotional materials from us by following the unsubscribe instructions provided in our communications.

To exercise any of these rights, please contact us at [Insert Contact Information]. We may require you to verify your identity before fulfilling your request.

9. Cookies and Tracking Technologies

We use cookies and similar tracking technologies to collect data about your interaction with our website and services. These technologies help us:

Recognize your browser or device.
Personalise content and advertisements
Analyse website traffic and user behaviour

You can control or disable cookies through your browser settings. However, disabling cookies may affect the functionality of certain features on our website or application.

10. Third-Party Links and Services

Our website and applications may contain links to third-party websites or services. We are not responsible for the privacy practices or content of these third parties. We encourage you to review the privacy policies of any external sites before sharing your data

11. Updates to this Privacy Policy

We reserve the right to update this Privacy Policy to reflect changes in our data practices or applicable laws. Any changes will be posted on our website with the revised "Effective Date." You are encouraged to review this policy periodically to stay informed of how we protect your data.

12. Contact Us

If you have any questions, concerns, or requests related to this Privacy Policy or your personal data, please contact us at:

Email:support@advanz.in
Phone:+91-8510011223
Address: A-14, Eco Tower, Sector-125, Noida, UP, 201313

By using ADVANZ’s services, you confirm that you have read, understood, and agreed to this Privacy Policy and our data handling practices.