Privacy policy

This privacy policy (“Privacy Policy”) describes how OYE Fintech Private Limited, a company registered under the Companies Act, 2013 providing credit related services and solutions under the brand name of TERA protects and makes use of the personal information gathered on the platform. This privacy policy applies only to personal information collected on the platform, and not to information collected by the company in other ways, including information collected offline.

Please read this privacy policy carefully. By continuing to use the services or solutions or access the platform you agree to this privacy policy. If you do not agree to this privacy policy, you may not avail the services or solutions.

Access to the Platform is subject to the Terms and Conditions (“Terms”) accessible on the Platform, capitalized terms used and not defined in this Privacy Policy, shall have the same meaning ascribed to them in the Terms.

INTRODUCTION

We, OYE Fintech Private Limited (“Company”/ “We”/ “us”/ “our”) have developed TERA, an Artificial Intelligence enabled Risk Tech Solution which helps lending institutions (“Lender/Client”) to leapfrog their digital transformation journey without any capital expenditure (“Application”/ “App”). Our Clients leverage our capabilities to onboard customers, evaluate risks and to take credit decisions.

All references to you shall mean the end-user who is accepting this privacy policy to avail the services offered by us through our Clients/Lenders.

As part of the Lenders’ or Clients’ utilisation of our solutions, we would have access to the personal data of the end users through our application by way of its integration in our Lenders’ or Clients’ digital infrastructure or indirectly upon receipt from the Clients or Lenders for processing the same.

We are committed to protect your privacy and have made this Privacy Policy to describe the procedures we adhere to for collecting, using, and disclosing the Personal Data. We recommend you read this Privacy Policy carefully so that you understand our approach towards the use of your Personal Data.

GOVERNING STATUTE

We provide our services within the territory of India and to companies and individuals in India and OYE will be governed only by the data protection laws in India. This Privacy Policy is governed by and is compliant with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules 2011, which is designed to protect Personal Data of the End-User(s) of the Services; and other applicable rules and regulations related to privacy.

This Policy shall be construed and governed by the laws of India and courts of law at Chennai shall have exclusive jurisdiction over such disputes without regard to principles of conflict of laws.

PERSONAL DATA COLLECTED

We will collect information about the potential business partners through enquires made through our contact us form in our website or through other sources or when you otherwise interact with us. We will request only such information which are legally and operationally required for us for effectively providing our services to you.

As part of the provisions of our services, we become aware of the personal information of the end-users (Identification information, financial information, etc) through our Clients/Lenders. The personal information would be shared by our Clients/Lenders as part of our agreement with them. It is understood that our Clients/Lenders shall be responsible for getting the adequate consents from the end users for sharing their information with us. It is understood that the end users and our Clients/Lenders are alone responsible for the accuracy and truthfulness of the Personal Data that was shared with us as part of our solutions.

DATA USAGE

We shall use the Personal Data in the following cases:

  1. Our business purposes, including the viewing or advertising of the solutions or related to any associated services;
  2. for internal analytics purpose;
  3. to improve upon the Services, or end-user experience;
  4. to comply with our legal or statutory obligations;
  5. to manage our relationship with you.

COOKIES

We may set “cookies” to track the use of the Application/Platform. “Cookies” are files that would be placed in your computer system’s hard drive and browser and are intended to improve your user experience, by enabling the Company to track your usage and preferences. These cookies may track your usage of the Services, advertisements and links that you visit and other User Information. Most cookies the Company uses are limited to a session, which mean they will be automatically deleted when your session closes. You may decline these cookies by changing your settings, if permitted. However, do note that doing so may impact certain features of the Services or your experience while using the Services.

DISCLOSURES

The Personal Data that has been shared with us may be disclosed by the Company to its Clients/ Lenders, agents, employees, subsidiaries and affiliates, or to other third party service providers of the Company who require the information for the purposes of operating and maintaining the Company’s platform for the provision of Services. The parties to whom the data is disclosed shall maintain the security and confidentiality of the Personal Information.

The Company will comply with requests and directions of all governmental, law enforcement, or regulatory authorities, which it believes in good faith to be in accordance with any applicable law.

Such compliance may include providing Personal Data whether it is personally identifiable information or not, to such agency or authority. By providing any information to the Company, you consent to the Company providing such information to any governmental, law enforcement or regulatory authorities who exercise jurisdiction over the Services provided and the Company.

ACCESSING AND MODIFYING PERSONAL DATA

In case you need to access, review, and/or make changes to the Personal Data, you shall have to login to your User Account and change the requisite details. You shall keep your Personal Data updated to help us serve you better.

DATA RETENTION

We will retain the Personal Data for such period agreed with our Clients/Lenders. We will delete the data in accordance with the provisions of the agreements entered with our Client/Lender. We actively encourage our Clients/Lenders to enable end-users for requesting deletion of their data.

However, we may also retain and use the Personal Data as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. Subject to this section, we will try to delete your Personal Data upon reasonable written request for the same. Please note, however, that there might be latency in deleting Personal Data from our servers and backed-up versions might exist even after deletion.

SECURITY

We value the Personal Data, and protect it on the Platform against loss, misuse or alteration by taking extensive security measures. In order to protect the Personal Data, we have implemented adequate technology and will update these measures as new technology becomes available, as appropriate. All Personal Data are stored on a secure server that only selected personnel contractors and authorized Agencies have access to. We encrypt certain sensitive information using Secure Socket Layer (SSL) technology to ensure that the personal details are safe as it is transmitted to us. We train our employees on all our security procedures, and we conduct audits to check compliance.

While we endeavour to only partner with Clients or service providers sharing similar or stricter obligations to privacy, we cannot take onus for their privacy policy or related obligations.

However, you understand and accept that data pilferage due to unauthorized hacking, virus attacks, technical issues is possible, and we take no liabilities or responsibilities for it. You are responsible for all actions that take place under your User Account. If you choose to share your User Account details and password or any Personal Data with third parties, you are solely responsible for the same. If you lose control of your User Account, you may lose substantial control over your Personal Data and may be subject to legally binding actions.

COMMUNICATIONS FROM THE PLATFORM

1. We may send you information on products, services, special deals, and a newsletter of the Company. Out of respect for your privacy, we present you with the option of not receiving these types of communications. You may unsubscribe via the unsubscribe mechanism provided in each such communication or by emailing us at hello@terafinlabs.com.

2. On certain occasions or under law, we are required to send out Service or Platform related announcements. We respect your privacy, however you may not opt-out of these communications. These communications would not be promotional in nature.

3. We communicate with the users of our platform on a regular basis to provide requested services and regarding issues relating to their usage or services, we reply via email or phone, based on Customer(s) requirements and convenience.

INDEMNIFICATION

You agree to indemnify us, our subsidiaries, affiliates, officers, agents, co-branders or other partners, and employees and hold us harmless from and against any claims and demand, including reasonable attorneys’ fees, made by any third party arising out of or relating to: (i) Personal Data and contents that you submit or share through the Platform; (ii) your violation of this Privacy Policy, (iii) or your violation of rights of another Customer(s).

LIMITATION OF LIABILITY

You expressly understand and agree that the Company shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data, information, details or other intangible losses (even if the Company has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the Services; (ii) unauthorized access to or alteration of your Personal Data.

CHANGES TO THIS POLICY

We may update this Privacy Policy at our sole discretion from time to time, without notice to you. You are encouraged to check this Privacy Policy on a regular basis to be aware of the changes made to it. Continued use of the Services and access to the Platform shall be deemed to be your acceptance of this Privacy Policy.

This Privacy Policy was last modified on 25th May 2020.

CONTACT US

If you have questions, concerns or grievances regarding this Privacy Policy, you can email us at our grievance e-mail address: hello@terafinlabs.com, so that we can consider and respond to your request. All requests will be addressed no later than thirty (30) days from the date such a request is made.