Privacy Policy
Effective Date: 19th October 2025
Last Updated: 19th October 2025
Welcome to We Micro Finance Bank Ltd (“We MFB”, “we”, “our”, or “us”). This Privacy Policy explains how we collect, use, disclose, and protect your personal information when you visit our website www.wemfbank.com, use our online banking services, or interact with us digitally.
We are committed to safeguarding your privacy and ensuring the confidentiality of your personal data.
1. Information We Collect
We collect personal and non-personal information in the following ways:
a. Information You Provide Directly
When you interact with our website or use our services, we may collect:
Full Name
Email Address
Phone Number
Residential/Business Address
Date of Birth
Bank Verification Number (BVN)
National ID, Passport, or other Identification details
Employment/Business information
Account details and transaction history
Feedback, inquiries, or correspondence you send to us
b. Information Collected Automatically
When you visit our website, we may automatically collect:
IP address and location data
Browser type and version
Device information (type, model, operating system)
Website usage data (pages visited, time spent, links clicked)
Cookies and similar tracking technologies
2. How We Use Your Information
We use the collected data for purposes including:
To provide, operate, and maintain our banking services
To verify your identity and prevent fraud
To process your applications, requests, or transactions
To communicate with you about your account or services
To comply with legal and regulatory requirements
To improve website functionality and user experience
To send marketing or promotional materials (where permitted)
To conduct customer satisfaction surveys and research
3. Legal Basis for Processing (Under NDPR)
We process your data lawfully under one or more of the following bases:
Consent: You have given clear consent for us to process your data.
Contractual Necessity: To perform a contract or provide a service you requested.
Legal Obligation: Compliance with regulatory or statutory obligations.
Legitimate Interest: To enhance our services, prevent fraud, or ensure network security.
4. Data Sharing and Disclosure
We do not sell or rent your personal information. However, we may share it with:
Regulatory and government bodies (e.g., CBN, NDIC, NDPR regulators)
Credit bureaus and financial institutions for credit assessments
Third-party service providers assisting in operations (e.g., IT, payment processors)
Law enforcement agencies when required by law
Auditors or consultants under confidentiality agreements
All third parties are required to handle your data in compliance with applicable data protection laws.
5. Data Security
We adopt industry-standard security measures to protect your information, including:
Encryption of sensitive data
Secure servers and firewalls
Regular system monitoring and vulnerability testing
Strict access controls and employee confidentiality training
While we take all reasonable precautions, no electronic system is 100% secure. You are encouraged to protect your passwords and log-in details.
6. Data Retention
We retain personal information only as long as necessary to:
Fulfill the purposes for which it was collected, or
Comply with legal, regulatory, or contractual obligations
After this period, your data will be securely deleted or anonymized.
7. Your Rights
Under the Nigeria Data Protection Regulation (NDPR), you have the right to:
Access your personal data held by us
Request correction or update of inaccurate information
Withdraw consent for processing (where applicable)
Request deletion (“right to be forgotten”)
Restrict or object to certain types of processing
Lodge a complaint with the Nigeria Data Protection Commission (NDPC)
To exercise these rights, contact us at:
📧 privacy@wemfbank.com
8. Cookies and Tracking
We use cookies to:
Improve website performance
Analyze user behavior
Personalize content and advertising
You can manage or disable cookies through your browser settings, though this may limit some website functionality.
9. Third-Party Links
Our website may contain links to third-party websites. We are not responsible for the privacy practices or content of such external sites. We encourage you to review their privacy policies before providing any personal data.
10. Children’s Privacy
Our website and services are not intended for persons under 18 years of age. We do not knowingly collect personal data from minors. If we discover such data has been collected, it will be deleted promptly.
11. Changes to This Privacy Policy
We may update this policy from time to time to reflect legal, operational, or technological changes. The updated version will be posted on our website with the new “Last Updated” date.
12. Contact Us
If you have questions, concerns, or complaints regarding this Privacy Policy or how your data is handled, please contact:
We Micro Finance Bank Ltd
📍 No: 7 Duru Street off Cemetery Road, Aba, Abia State, Nigeria
📧 Email: privacy@wemfbank.com
📞 Phone: +234 (0)8088000054
🌐 Website: www.wemfbank.com
