Privacy Policy

Monexo Fintech Private Limited

Version 2.1
December 2022

1) Privacy Policy

Please Read This Privacy Policy Carefully

This Privacy Policy shall govern the www.monexo.co website and MONEXO mobile / progressive web applications and any other such applications (each of them known as App) provided by Monexo Fintech Private Ltd, a company incorporated under the Companies Act, 2013 and having its Registered Office at 1D, Apex Plaza, Old # 3, Nungambakkam High Rd, Nungambakkam, Chennai, Tamil Nadu-600034 (hereinafter referred to as “Monexo” and/or “Platform” ).

Monexo is concerned about the privacy of its Data Subjects (also referred to as “you” “your” “yourself”) which includes all persons using Monexo’s App (i) those persons registering with Monexo personally or through authorised referral partners of Monexo and (ii) persons authorized to register with Monexo on behalf of corporate applicants.

Monexo has accordingly provided this Privacy Policy (“Privacy Policy” or “Policy”) to familiarise you with the manner in which Monexo collects, uses and discloses your information collected through the Platform. Monexo reserves the right to change, modify, add to, or remove portions of this Privacy Policy at any time.

Any updates to the privacy policy become effective when posted on the Platform. If we make any material changes, we will notify you by email or by providing the revised privacy policy on https://www.monexo.co or MONEXO mobile App

Your continued use of our services following the update means that you accept Monexo’s updated privacy policy, and you shall be bound by the modified Privacy Policy as on the date and time of browsing / usage of the App.

You are advised therefore to periodically visit this page to review the current Privacy Policy to which you are bound. All terms not defined in this document shall have the meanings ascribed to them in the Terms of Use or any other such agreement entered into between Monexo and you.

If you have any questions or complaints regarding our privacy policy or practices, or if you need assistance in exercising any of your choices under this policy, please reach out to us at lend@monexo.co.

Please note in order to use our services you must be 18 years of age or older.

2) Collection of Information

Your privacy is important to us and we have taken steps to ensure that we do not collect more information from you than is necessary for us to provide you with our services and to protect your account.

Information including, but not limited to, your name, address, phone number and email address may be collected at the time of your registration on the Platform.

We record and retain details of your activities on the Platform which is a platform permitting prospective borrowers and lenders to enter into loan transactions with one another through Monexo as well as carrying out risk assessment and support services to prospective borrowers and lenders.

We record and retain records of your browsing activities on our platform including but not limited to IP addresses and browsing patterns. In addition, we gather statistical information about the Platform and visitors to the Platform including, but not limited to, IP addresses, browser software, operating system, software and hardware attributes, pages viewed, number of sessions and unique visitors.

It is mandatory for you to provide certain categories of information. In the event that you do not provide any or sufficient information marked as mandatory, we may not be able to complete the registration process or provide you with our products or Services.

We will collect information through credit bureaus and other partners to determine your credit worthiness, assess risks related to your potential loan and help determine the lenders to commit to your loan.

The synopsis of information collected from you are including but not limited to:

Your identifying and application information (eg. Name, address, email, telephone, date of birth, identity number, employment information etc.
Your credit score and history
Bank account and recent banking transactions
Status and terms of any other loan

We also gather information on your transactions, payment history etc, on the platform.

We collect information on your computer and visits to the platform including your IP address, geographical location, browser type, referral source, length of visit, button clicks, page views etc.

We will receive information from the cookies and web beacons imposed by us and our partners on our platform.

We may also automatically receive and collect celertain anonymous information in standard usage logs through the web server, including mobile-identification information obtained from the equivalent of “cookies” sent to the App, including mobile network information, standard web log information, traffic to and from our App, tracking inside the App and any other available information, from:

an IP address, assigned to the device used by you;
the domain server through which you access the App and the functions and features therein; and
the type of device used by you (“Device”).

You may choose to provide us with access to certain personal information stored by third parties like social networking sites (e.g. Facebook and Twitter). We will have access to such information to the extent allowed by the User’s privacy settings on that site and the User’s specific authorization. In the event you associate a User account managed by us with an account maintained with any third party to enable us to access certain information maintained in such third party managed accounts, you agree that we may collect, store and use such information in accordance with this Privacy Policy.

After obtaining your specific consent to allow the App to access the User’s SMS inbox, we may collect relevant information from text messages (SMS) received by you from providers of services and/or products (including but not limited to retail outlets, financial institutions, mobile carriers and utility companies), that will enable us to provide better access to financial services and products to the Users. We will only access business messages that originate from alphanumeric senders.

In order to enhance our ability to provide valuable Services and experiences to the User, we may: (i) automatically receive, collect and analyse your location information which may be accessed through a variety of methods including, inter alia, GPS, IP address, and cell tower location; and (ii) collect information pertaining to your Device and your usage thereof, including, inter alia, the names of the other applications on your mobile Device and how you use them, information about your Device, and information about your use of features or functions on your Device.

We may collect information with your consent from your mobile device like device location, device information (including storage, model, installed apps, WiFi, mobile network) transactional and promotional SMS, communication information including contacts to provide customized offerings.

3) Use of Your Information

We use your personal information to provide the services you request. To the extent we use your personal information to market to you, we will provide you the ability to opt-out of such uses. We use your personal information to resolve disputes; troubleshoot problems; help promote a safe service; collect money; measure consumer interest in our services, inform you about offers, services, and updates; customize your experience; detect and protect us against error, fraud and other criminal activity; enforce any specific terms and other conditions governing your relationship with Monexo; and as otherwise described to you at the time of collection.

If you register as a borrower, we will use your information to facilitate your loan or loan request. This may include:

Generating your borrower profile and processing your loan application;
Assigning you a Monexo Rating;
Enabling payments and fund transfers with other financial institutions;
Implementing collection activities as needed;
Communicating with you concerning your Monexo account and transactions;
Addressing any disputes you may raise concerning your account.

If you register as a lender, we will use your information to facilitate lending through the platform. This may include:

Generating your lender profile;
Enabling payments and fund transfers with other financial institutions;
Communicating with you concerning your Monexo account and transaction;
Addressing any disputes you may raise concerning your account.

In our efforts to continually improve our service offerings, we collect and analyse demographic and profile data about your activity on our platform. This may include transactions and activity, including payment history on our platform. We use this information to improve our services and credit model. We also use this information to improve our website’s usability and to evaluate the success of marketing campaigns and other activities.

We may also use your personal information to select you for certain marketing offers, newsletters, surveys and/or requests for feedback regarding your experience. We may use your personal information both to select you for an offer and to communicate that offer to you.

We use cookies and beacons, tags and scripts to analyze trends, administer the website and track the user movement around the website, including gathering demographic information about our user base. We may use cookies when you sign into your account to keep track of your personal sessions, authenticate your account

and detect fraud. Cookies are also used together statistical data, such as pages frequently visited, what is downloaded and address of sites visited immediately after coming to our site. You can use or deny use of the cookies but that would limit your ability to use some features of our website.

4) Sharing of Personal Information

We may share personal information with other corporate entities and affiliates to help detect and prevent identity theft, fraud and other potentially illegal acts; correlate related or multiple accounts to prevent abuse of our services.

We may disclose personal information if required to do so by law or in the good faith belief that such disclosure is reasonably necessary to respond to court orders, government agencies having authority to require such disclosure or any other legal process. We may disclose personal information to law enforcement offices, third party rights owners, or others in the good faith belief that such disclosure is reasonably necessary to: enforce any specific terms governing your relationship with Monexo or this Privacy Policy; respond to claims that an advertisement, posting or other content violates the rights of a third party; or protect the rights, property or personal safety of our Data Subjects or the general public.

We and our affiliates may share some or all of your personal information with another business entity should we (or our assets) plan to merge with, or be acquired by that business entity, or re-organization, amalgamation, restructuring of business. Should such a transaction occur that other business entity (or the new combined entity) will be required to follow this Privacy Policy with respect to your personal information.

We will share your information with third parties as permitted by law, including in the following specific ways:

Designated Bank: All loans originated through us are made through a third party entity. If you request a loan through the Platform, you are also providing your information to the designated bank, and further information may be provided to designated bank after your loan originates. The use of your information by the designated bank is governed by their privacy policy.
Third Party Service Providers: We rely on third party service providers to help us conduct our business and marketing activities, such as maintaining our files and records, offering customer service, sending marketing communications, or facilitating fund transfers. We may share your information with such companies, which are authorized to use your personal information only as necessary to provide these services to us. Information may also be shared among affiliates for this purpose where one affiliated company provides services to or on behalf of another affiliated company in connection with your account.
Lenders: When your loan originates through our platform, we may provide the Lender of your loan with your personal and credit information. Information is only released to the lenders with adequate protections to safeguard your personal information.
Credit Bureaus: We may share your personal information with credit bureaus to meet our credit reporting obligations.
Affiliates: Our affiliates, including entities covered by this policy and other companies related by common ownership or control may share your information with each other, including information related to your creditworthiness, for purposes of general business analysis or to present targeted marketing offers to you or others.
Legal Requests & Regulatory Requirements: We may also share information to comply with, or to allow investors or potential investors to comply with, any applicable law, regulation, legal process or governmental request; or for the purposes of limiting fraud; or in connection with an audit or the sale of Monexo to a third party.
Sharing of Anonymized Data: We may share aggregated and anonymized data sets including your information with third party business partners, service providers, and among Monexo affiliates. No personally identifiable information will be included in these data sets.

5) Your Rights & Preferences as a Data Subject in India

This Policy is intended for Users within the territory of India and govern your rights as per applicable law within the territory of India. However, in the event you fall under a jurisdiction outside the purview of Indian law, MONEXO will not be liable for any claim, action and/or right initiated/exercised by you as per the extant laws of that jurisdiction. Therefore, we request you to kindly use the App accordingly.

6) Information Security

The information provided by you is stored in access controlled facilities with restricted access. Your Information transmitted over the internet is protected through the use of encryption, using the Secure Socket Layer (SSL) or equivalent protocols.
If a password is used to help protect your accounts and account information, it is the responsibility of the Data Subject to keep the password confidential. You have to ensure that you always log out, before sharing the device with a third party and it is advised that you utilize a service to protect access to your Device.
We shall use generally accepted industry standards to protect the information submitted to Us, both during transmission and upon receipt. However, please be advised that, no method of transmission over the Internet, or method of electronic storage, is 100% secure. Therefore, even though we strive to use commercially acceptable means to protect User information, we cannot guarantee its absolute security and your use of the App is at your sole risk and discretion. We also cannot warrant that such User information may not be misused in the event our safeguards and protocols are breached by a malicious third-party. Further, we are not liable to nor can we fully control the actions of other users with whom you may choose to share your information.
The collection, usage, and sharing of information by us shall be in compliance with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 and other applicable laws.
If any security breach comes to our knowledge, then we may take all steps required to protect misuse of such information and may attempt to notify you electronically so that you can take appropriate steps

7) Changing Your Personal Information

You can access the personal information you have provided to us by logging into your account. You can reach out to us at lend@monexo.co to update your password, email, address, phone number or bank account information at any time. We will respond to your request within a reasonable time.

We will retain your information for a minimum of seven years and as long as needed to provide you services, comply with our legal obligation, resolve disputes, conduct analysis, audits, or to enforce our agreements or as otherwise required by law.

8) General

By using the Platform and/ or by providing our information, you consent to the collection and use of the information you disclose on the Platform in accordance with this Privacy Policy, including but not limited to your consent for sharing your information as per this Privacy Policy.

(i) In the event that any of the provisions in this Privacy Policy contravene the Information Technology Act 2000 as amended from time to time and rules made there under, then the Information Technology Act 2000 supersedes any of those contravening provisions.

(ii) This Privacy Policy shall be interpreted in accordance with the Laws of India.

As per the provisions of the Information Technology Act 2000 and Information Technology Rules 2000, the name and contact details of the Grievance Officer are provided below:

Name : Sundar Mahalingam
Email: sundar@monexo.co

Telephone: +91-7358499666

Registered Address:
Monexo Fintech Private Limited
1D, Apex Plaza, Old # 3,
Nungambakkam High Rd,
Tirumurthy Nagar, Nungambakkam,
Chennai, Tamil Nadu 600034