Privacy Policy
Last updated: 16 October 2026
This policy explains what personal data the Koloxify app and website collect, why we collect it, who we share it with and the choices you have. Koloxify is a savings-circle platform. It is not a bank or an investment service. We process personal data in line with the Nigeria Data Protection Act 2023.
Data we collect
- Account details: your name, phone number, email address, username and password (stored only in hashed form).
- Identity verification (KYC): your BVN or NIN, the details returned by the identity check, and a selfie used for a liveness and face-match check.
- Location: your location while the app is open, only when you complete identity verification, to confirm your address.
- Payout details: the bank account you add to receive payouts.
- Circle and payment records: the circles you create or join, your contributions, payouts, service fees and penalties.
- Device and security data: device model and identifiers used to recognise your trusted devices, sign-in history, and push notification tokens.
- Support: messages and any images you attach to support tickets.
- Agents: if a Koloxify agent registers you or records a payment for you, the agent submits the same kinds of details on your behalf, with your consent.
How we use it
- To create and secure your account, including one-time codes and new-device checks.
- To verify your identity before you can take part in circles.
- To run circles: record contributions, work out turn order and send payouts.
- To send you reminders, receipts and security alerts by SMS, email or push notification.
- To prevent fraud, investigate disputes and meet our legal obligations.
- To respond to support requests.
We do not sell your personal data, and we do not use it for third-party advertising.
Who we share it with
We share data only with service providers who process it for us, under contract:
- Identity verification providers, for BVN/NIN and selfie checks.
- Payment service providers, to process deposits and payouts.
- SMS, email and push notification providers, to deliver codes and messages.
- Hosting and infrastructure providers that run our servers and databases.
Members of a circle can see each other's name and contribution status within that circle. We may also disclose data where the law requires it, for example to a regulator or law enforcement.
How long we keep it
We keep your data while your account is open. When your account is deleted, we remove or anonymise your profile and identity data. Records of payments and circle activity may be kept for as long as the law requires, for fraud prevention and to resolve disputes, and are then deleted.
Your rights
You can ask to access, correct or delete your personal data, object to or restrict how we use it, or withdraw consent. You can update most details in the app under Profile. To delete your account, see Delete your account. You may also complain to the Nigeria Data Protection Commission.
Security
Data is sent over encrypted connections. Passwords and one-time codes are stored hashed, sensitive fields are encrypted, and new devices must be approved before they can access your account.
Children
Koloxify is only for people aged 18 and over.
Changes
We will post any changes to this policy on this page and update the date above.
Contact
Questions or requests: support@koloxify.com.