SUMULONG FINANCING INC. with Securities and Exchange Commission (“SEC”) Registration No. CS201915712, and Certificate of Authority to Operate as a Lending Company No. 1238.
Greetings from Grabpeso!
Here at SUMULONG FINANCING INC. (Sumulong), the team behind Grabpeso, we place a high priority on the privacy of our users. This Privacy Policy elaborates on the processes and purposes of Grabpeso’s collection, storage, usage, sharing, and disposal of personal data when you engage with the Grabpeso app or utilize our services.
To gain a comprehensive understanding of how we handle data, we invite you to review this Privacy Policy thoroughly.
At Grabpeso, providing full compliance with the Know-Your-Customer (KYC) requirements provided by the Anti-Money Laundering Council, the Bangko Sentral ng Pilipinas, and any other relevant regulatory groups regulating BSP-Supervised Financial Institutions (BSFIs).Generally, we collect the following information in the course of your application for a loan, as required under our risk management model:
According to our risk management procedure, we generally compile the following information during your loan application:
1. Information We Gather:
1.1. Personal Information:
With your express permission, we also collect the personal information like:
- Contact Information: Name (your first name, surname, date of birth), address, phone numbers in your phone contact list, email address.
- Identification details: Government-issued ID like: passport, driver's license, or other identification documents.
- Financial Details such as: Bank account details, credit score, income, and transaction history.
- Application Details: The details throughout the loan application process, such as job information and the loan's purpose.
- Communication Details: The communication via email and/or chat messages are all recorded.
1.2. Permissions /Consent
To maintain your eligibility and hasten on the loan payment, we need your consent for the following inquiries:
LOCATION: We obtain coarse location information from your device to reduce the risks associated with your account to lessen the risk connected with your account.
Contact List: We require you to manually select or enter an emergency contact from the contact list, including name and phone number. This feature is suitable for when we are unable to contact you. The contacts you select or enter are transferred to our application (https://api.grabpeso.com) in encrypted form and stored for 1 year from the date of upload. We guarantee that we will never collect your information without your consent and will not share your information with third parties.
CAMERA: Your permission is a must to give you an easy, smooth experience & to allow you to take a picture of your Government-Issued Identification Data, we acquire camera access, KYC documents & other pertinent documents and send these to the app during the process of the loan progress.
IMAGE INFORMATION: In order for the app to allow you to upload images and documents during the loan application process, we may be needing your consent to store some details and to finish the process of your application.These contents are encrypted, uploaded and stored in "https://api.grabpeso.com", and will not be shared with third parties.
PHONE STATUS: the usage of your phone status is to identify you and protect your information, which helps other parties eliminate possible risk.
SMS: To identify well grounded references for risk analysis, we select contact details from your device and send it to Grabpeso. The transferring of the regular data from your text message records will happen in the midst of using the application. Grabpeso will not publish your information to a third party without your acknowledgement on it. Your consent is essential in order for us to collect your data.These contents are encrypted, uploaded and stored in "https://api.grabpeso.com", and will not be shared with third parties.
LIST OF INSTALLED APPS: This information is holding down a role to evaluate your authenticity and present customized pre-approved loan choices. We kindly ask for your acknowledgement, due to gathering of some of the necessary data you have downloaded and installed on your personal device, including their names, version names, and version codes,package names, installation and latest dates.These contents are encrypted, uploaded and stored in "https://api.grabpeso.com", and will not be shared with third parties.
1.3. Usage Data:
We process the following information from your device, with your permission. including:
- Device details: location based on your Internet Protocol (“IP”) address, device type, and other technical information.
- Usage Patterns: Information about how you use our app, including pages visited, buttons clicked, and features used.
Together with the previously stated, we also process the following data about you:
2.How We Use Your Data:
2.1. Providing Services:
With your permission, we keep your loan application together with your basic details and provide financial services and products.
2.2. Government -Issued Identification Details:
This includes your UMID, SSS ID, Passport, Voter’s ID, Driver’s License, sufficient to establish your identity under Philippine BSFI laws.
2.3. Data related to your communications:
This refers to your communications with Grabpeso through in-app chat, telephone or other channels.
2.4. Analytics:
To enhance our app's performance, functionality, and user experience, we may analyze usage data for development purposes.
As part of the Terms and Conditions of the loan transaction, in the pursuit of our legitimate interests. Sumulong Financing Inc. also collects the following information from the natural controllers of this information:
3.How We Share Your Information:
3.1. Third-Party Service Providers:
This is information that is provided to us from credit reference agencies or bureaus, external collections agencies, and mobile network providers.
Do We Share Collected Data with Third Parties?
We want to assure you that, unless we receive a court order, are legally obligated by a regulation, or have obtained your explicit written consent, we do not share any of the data we collect with external entities. It's important to note that the data we gather is not available for sale.
4. Your Choices:
4.1. Access and Correction:
You have the right to access, correct, or update your personal information. You can do so by accessing your account settings or contacting us.
5. Data Security:
In handling GrabPeso data, Sumulong Financing uses technical, organizational and physical measures to ensure smooth and safe loan transactions. Whenever possible and appropriate, we encrypt your data at rest at all times, in line with commercially acceptable means of protecting it.
Whenever possible, we have taken policies to insure ourselves against the effects of cybercrime.
We work to ensure the integrity and security of our network and systems, so that it becomes extremely difficult for unauthorized third-parties to illegally obtain access to your information.
In the unfortunate and unwanted event that your information is lost, or misused or altered by third parties, you have the right to rectify any such inaccurate information within our control.
6. Where and how do we store your data?
Data that is sent to Sumulong Financing Inc. through the Grabpeso app and that data sent through the Grabpeso app using an Application Programming Interface (API) to Grabpeso servers are securely stored on these servers, which are owned and controlled by Sumulong Financing Inc. Other frequently used data used in the handling of your loan through the Grabpeso app are also secured in your phone helps improve the way the application works for you.
Your phone stores the original images of all files you scanned for your application.
7. How long do we store your information?
We keep the necessary information related to your account as long as it is active. We will clear your account data within seven (7) days after your account's closure. for as long as necessary to carry out the purposes for which it was originally gathered and for other legitimate purposes, including to meet our legal, regulatory, or other compliance obligations, we keep other personal information.
Your data and account will be permanently deleted if you follow the account deletion guidelines; our team won't be able to access the account again.
8.Updates to Privacy Policy:
We may update this Privacy Policy from time to time. The updated version will be posted on our app, and the changes will be effective upon posting.
By using our lending app, you acknowledge that you have read and understood this Privacy Policy and consent to the collection, use, and disclosure of your personal information as described herein.
Contact Us:
If you have any questions, concerns, or requests regarding this Privacy Policy or the use of your personal information, please contact us at grabpesocs2023@gmail.com
Sumulong Financing Inc
29 Bagong Silang St.Tuktukan Taguig City
09171262274
grabpesocs2023@gmail.com
9AM-6PM/7 days a week
This policy is effective as of 2023-Aug-23
