Last Updated: 01 January 2016
Your privacy and the protection of your sensitive personal information are important to us. Because we collect and/or store certain types of information from and about you, it is necessary to explain our policy and the terms and conditions surrounding the capture and use of that information.
1. Employee Conduct
KoinWorks expresses its absolute commitment to integrity, and our corporate values and ethical standards and the associated business conduct we expect from all our employees.
KoinWorks Code of Conduct includes very specific guidelines concerning the safeguarding of confidential information, which includes customer information. In general, these guidelines limit employee access to confidential information, and limit the use and disclosure of such information to specifically authorized processes and transactions. If it is determined that employees have violated the Code of Conduct, corrective action may be taken, including immediate dismissal.
2. Verification of Practices
Periodically, our operations and business practices are reviewed for compliance with corporate policies and procedures governing the confidentiality of information. These reviews may be conducted by our own internal staff, external accounting and auditing firms, and government regulators. Included in these self-assessments and examinations are reviews of the controls and safeguards related to consumer privacy.
3. What does KoinWorks do with your personal Information?
We collect personal and financial information from you while you use the site, and most of the collection occur when you are registering and submitting your data. We also collect data from other social media platforms you allow us access to.
We also collect data from your time navigating the site. These include, but is not limited to, your computer, geographical information, IP address, referral source, length of visit, page views and clicks. These aggregated information are mainly used for the administration of the website to improve its usability and security.
4. Why does KoinWorks do with your personal Information?
We require all users to submit basic data to enable us to verify your identities as stipulated by the law, communicate with you, verify that you are at least of legal age and guard against potential fraud. We will only use personally identifiable information to provide services to our users, and will not share such data to third parties without the explicit consent of our users.
We request additional data from users which are optional, but must be filled in order to allow us to give additional services to the users. These include determining borrowers’ eligibility for loans through our credit scoring process, establishing users’ basic community building in our platform and implementing collection activities as needed.
5. Is my data secure?
KoinWorks takes the utmost care in our business practices and deploy the most effective technologies to ensure that the data you submit to us are secure. Only a limited number of our staff has access to users’ data, and most of the time they will only have access to certain part of the data as necessary to perform their tasks as part of our services for the users. Our staff are not allowed to transfer or bring out data from our servers or our locations.
We consult with leading figures in financial security and employ technical safeguards like encryption, two factor authentication, and continuous monitoring to ensure that your information is protected and that there are safeguards to protect our users interests.
These measures will be reviewed and adjusted periodically based on ongoing risk assessments or a possible security breach, as no institution can guarantee an absolutely secure and safe system. We also recommend users to take certain steps to help protect their information.
Users may elect to add other users to their contact list, or form and join groups with other users whom they identify with or are comfortable with. Doing such may require users to allow some of their information to be seen by the group and their contact list.
We may send you notifications from time to time. These are required elements of your transactions on our platform and confirmation of the actions you have taken. This is to ensure that no one else is making changes to your account without your knowledge.
We will also send periodical updates on the summary of your account’s activities during a certain period. Occasionally we may also send communications on updates on our platform, and may include promotions or changes to our platform which affect our users.
f. Situational Cases
In cases of a legal process, court order, or judicial proceeding, we may share your relevant data with law enforcement or government agencies as required by law. We may also share borrowers’ loan and payment record with the Central Bank BI Check system, especially in the event of default.