Privacy Policy

Klario is operated by Raavon Limited (RC-9537604). You can reach us at support@klario.finance. Klario recently added the ability to move money; previously the app was read-only. This policy reflects those new features.

Because we are not a bank, the parts of Klario that hold or move money are provided by licensed partners:

• Your savings balance is held in a wallet operated by a licensed payments partner.
• Transfers and direct debits (including recurring auto-save) are executed by a licensed open-banking partner through its direct-debit feature, on your instruction.
• Klario prepares and routes your instructions; it does not itself custody or move your money.

Identity and KYC

Your legal name, date of birth, phone number, email, and identity-verification data. Your Bank Verification Number (BVN) is verified by our open-banking and KYC partners and is not stored in raw form on Klario's servers.

Bank account data (via open banking)

With your consent, we read: account name, balance, masked account number, and transaction history. We do not access your card details, PINs, or one-time passwords (OTPs).

Money-movement data

Savings goals, auto-save mandates, and records of the transfers, withdrawals and deposits you make. Your transfer PIN is stored only as a salted hash, never as plaintext.

Device and diagnostics

Device identifiers, and crash and diagnostic logs that are scrubbed of personal information on your device before they reach us.

We use your information to:

• Create and run your account, and show your money in one place;
• Set up and run savings goals and recurring auto-save;
• Carry out the transfers and withdrawals you authorise, through our licensed partners;
• Power KlarioAI guidance based on your financial context;
• Verify your identity and protect you from fraud and money laundering;
• Send you the notifications described below;
• Fix problems, keep the app secure, and improve it;
• Meet our legal and regulatory obligations.

Under the NDPA, we rely on these lawful bases: performing our contract with you (running your account and executing your instructions), your consent (connecting a bank, marketing, an auto-save mandate), our legal obligations (KYC and anti-money-laundering), and our legitimate interests (fraud prevention and improving the app).

KlarioAI, our in-app assistant, is powered by Anthropic (Claude). It processes your financial context to give guidance and can prepare an action for you, but it never executes a payment on its own. Every action needs your tap and your transfer PIN.

KlarioAI may fetch live foreign-exchange rates from ExchangeRate-API (open.er-api.com). No personal data is sent to the rate provider; Klario only requests the public rate table. Any FX figures shown are indicative only; they are not a settlement or guaranteed rate.

KlarioAI output is general information only. It is not financial, investment, tax, or legal advice.

Savings wallet

Money you save is held in a wallet operated by our licensed payments partner, not by Klario.

Recurring auto-save (debit mandate)

Recurring auto-save is a debit mandate that you authorise. You can cancel it at any time in the app. If there are not enough funds on a scheduled date, we notify you, hold the instruction, retry when funds appear, and then skip to the next scheduled date. Nothing is debited without an active mandate.

Withdrawals

For your security and to prevent fraud, you can only withdraw to a bank account whose account-holder name matches your identity-verified (KYC) legal name, including accounts you have not connected. We resolve the destination account name through a payments provider to enforce this.

Sending money

Each transfer is authorised individually with your transfer PIN.

We do not sell or rent your personal information. We share it only with the service providers below, each under a contract that requires them to protect your data and use it solely to deliver their service. Some are also our regulated financial partners.

We may also disclose information where required by law, court order, or a regulator such as the CBN or the NDPC.

We apply technical and organisational safeguards, including:

• Your transfer PIN stored as a salted hash, never as plaintext;
• The transfer PIN bound to your account (not just your device), with brute-force rate limiting;
• HTTPS-only transport for data in transit;
• Name-matched withdrawals (funds can only leave to an account in your verified name);
• Automatic app lock and biometric unlock.

Some safeguards are provided by our licensed partners: wallet custody, account-name resolution, and the execution of transfers and payouts. No system can be perfectly secure, so please keep your PIN secret and enable biometric unlock.

Under the NDPA and NDPR, you can, at any time:

• Access the personal data we hold about you;
• Export your data (portability) in a structured, machine-readable format;
• Delete your account and associated data;
• Disconnect any bank you have linked;
• Withdraw consent, including cancelling an auto-save mandate;
• Object to or restrict certain processing, and opt out of marketing.

Most of these are self-service in the app. You can also contact support@klario.finance. We verify your identity and respond within the timeline set by the NDPC, and in any case within 30 days. You may also lodge a complaint with the NDPC.

Keep your transfer PIN secret and never share it. If you see a transaction you did not authorise, report it immediately in the app or by emailing support@klario.finance. We will investigate, work with the relevant licensed partner, and handle your report in line with CBN consumer-protection expectations. Report promptly, as delays can affect what can be recovered.

So you always know what is happening with your money, we send:

• Savings maturity notices;
• Upcoming-deposit reminders (before a scheduled auto-save);
• Upcoming-withdrawal reminders;
• Security alerts and other push notices.

You can manage most notifications in settings. Some security and transaction notices are necessary and cannot be turned off.

We keep your data while your account is active. When you delete your account, your personal and financial data are permanently removed within 30 days.

Records we are legally required to retain (for example anti-fraud, tax and regulatory records under applicable Nigerian law) are kept for up to the period required by law, then permanently deleted. Anonymised, aggregated data that cannot identify you may be kept longer.

Klario is for users aged 18 and above. We do not knowingly collect data from anyone under 18. If we learn that a minor has registered, we will delete the account and its data.

We may update this policy to reflect new features or legal requirements. Where changes are material, we will notify you by email or in-app at least 14 days before they take effect.

This policy is governed by the laws of the Federal Republic of Nigeria.

Klario (by Raavon Limited, RC-9537604)

Email: support@klario.finance

Website: klario.finance

Parent company: www.raavon.com