Privacy Policy

1.1 Information You Provide Directly

We collect information you voluntarily provide when you register for an account or use our services, including:

• Full name and date of birth
• Email address and phone number
• Bank Verification Number (BVN) for identity verification
• Profile photograph (optional)
• Financial goals and preferences you set within the Platform

1.2 Information We Collect Automatically

When you use the Platform, we automatically collect certain technical information, including:

• Device type, operating system, and unique device identifiers
• IP address and approximate location
• App usage data, feature interactions, and session duration
• Crash reports and performance diagnostics

1.3 Financial Information

To provide our core services, we collect the following financial data via licensed open banking infrastructure:

• Bank account names and account numbers (masked)
• Account balances and transaction history
• Spending categories and patterns

Important: We access your financial data on a read-only basis through licensed data partners. We do not store your bank login credentials. Your username and password for any bank are never transmitted to or stored on Klario's servers.

We use the information we collect for the following purposes:

2.1 Service Delivery

• To create and manage your Klario account
• To display consolidated financial data from your connected bank accounts
• To generate AI-powered financial insights and recommendations personalised to your spending behaviour
• To execute bill payments and savings instructions you initiate within the Platform

2.2 Security and Fraud Prevention

• To verify your identity and prevent unauthorised access
• To monitor for suspicious activity and protect your account
• To comply with anti-money laundering (AML) obligations

2.3 Platform Improvement

• To analyse usage patterns and improve product features
• To diagnose technical issues and optimise performance
• To conduct internal research and product development

2.4 Communications

• To send transactional notifications (payment confirmations, savings updates, security alerts)
• To deliver important updates about changes to our services or policies
• To send marketing communications where you have provided consent (you may opt out at any time)

Klario does not sell, rent, or trade your personal information to third parties for commercial purposes.

We may share your information only in the following limited circumstances:

3.1 Licensed Service Partners

We work with carefully selected partners to deliver our services. These include:

• Open banking data providers, to securely retrieve your financial data from connected banks
• Payment processors, to facilitate bill payments and subscription billing
• Cloud infrastructure providers, to host and secure your data

All partners are contractually bound to handle your data in accordance with applicable data protection laws and may not use your data for any purpose beyond delivering the agreed service.

3.2 Legal and Regulatory Obligations

We may disclose your information where required by law, court order, or regulatory authority, including the Central Bank of Nigeria (CBN) and the Nigeria Data Protection Commission (NDPC).

3.3 Business Transfers

In the event of a merger, acquisition, or sale of assets, your information may be transferred to the successor entity. We will notify you prior to such a transfer.

We implement industry-standard technical and organisational measures to protect your personal information, including:

• AES-256 encryption for all data stored at rest
• TLS 1.3 encryption for all data transmitted in transit
• Row-level security architecture ensuring no cross-user data access is architecturally possible
• Biometric and PIN-based authentication at the application level
• HMAC-SHA512 cryptographic verification on all payment callbacks
• Regular vulnerability assessments and security audits

While we apply rigorous security controls, no system can guarantee absolute security. We encourage you to use a strong, unique PIN and to enable biometric authentication within the app.

We retain your personal data for as long as your account remains active or as required to fulfil our legal and regulatory obligations.

Upon account deletion:

• Your personal profile data is permanently deleted within 30 days
• Transaction history and financial data are deleted within 30 days
• Anonymised, aggregated analytics data may be retained indefinitely as it cannot be linked to any individual

Under the Nigeria Data Protection Act (NDPA) and applicable regulations, you have the following rights regarding your personal data:

Right of Access

You may request a copy of the personal data we hold about you at any time.

Right to Rectification

You may request correction of any inaccurate or incomplete personal data.

Right to Erasure

You may request deletion of your personal data, subject to our legal retention obligations.

Right to Withdraw Consent

Where we process your data based on consent, you may withdraw that consent at any time without affecting the lawfulness of prior processing.

Right to Data Portability

You may request your data in a structured, machine-readable format.

Right to Lodge a Complaint

You have the right to lodge a complaint with the Nigeria Data Protection Commission (NDPC) if you believe your data rights have been violated.

To exercise any of these rights, contact us at: privacy@klario.finance

We will respond to all verified requests within 30 days of receipt.

Our website uses cookies and similar tracking technologies to improve your browsing experience. Please refer to our Cookie Policy for full details on how we use cookies and how you can manage your preferences.

The Klario Platform is intended for users aged 18 and above. We do not knowingly collect personal information from individuals under the age of 18. If we become aware that a minor has registered an account, we will promptly delete the account and associated data.

We may update this Privacy Policy from time to time to reflect changes in our practices, technology, or legal obligations. Where changes are material, we will notify you via email or in-app notification at least 14 days before the changes take effect.

Your continued use of the Platform after the effective date of any update constitutes your acceptance of the revised Policy.

If you have any questions, concerns, or requests regarding this Privacy Policy, please contact us:

Klario Finance

Powered by Raavon Limited (RC-9537604)

Email: privacy@klario.finance

Website: klario.finance

Parent Company: www.raavon.com

We aim to respond to all enquiries within 5 business days.