This notice applies to all our products and services. Our terms and conditions will specify which of our businesses is providing the relevant product or service to you.
You have a number of rights in relation to your information, including the right to object to processing of your personal information for direct marketing or where the legal basis for our use of your data is not a legitimate business interest or the performance of a task is not in the public interest.
If you have any questions about how your information is gathered, stored, shared or used, please contact our Data Protection Officer.
WHO WE ARE
This policy explains who we are, why we collect your information, and how we use it. It also details who we share your information with and how we use data to enhance our products and services.
“We,” “Us,” or “Our” refers to the Verto group entities, which provide cross-border services globally. These entities include:
Verto FX Inc. a financial services company incorporated and existing in the United States of America
Verto FX Ltd a financial services company in the UK (Company No: 10973066), authorized and regulated by the Financial Conduct Authority (Firm Ref No: 901073).
Verto Financial Technologies Limited registered in Nigeria, located at 1 Prof Olagoke Olabisi Street, Lekki Phase 1, Lagos.
Verto SA (PTY) Ltd a company registered and existing under the laws of in South Africa (Reg No: 2021/837445/07), regulated by the Financial Sector Conduct Authority (FSP-52835).
Verto Malta Holdings Ltd., a company registered and existing under the laws of the Republic of Malta under number C 109254, with registered office at 66 APT 5, Triq Tat- Teatru L-Antik, Valletta, VLT 1427, Malta
Verto Malta Ltd. a company registered and existing under the laws of the Republic of Malta under number C 109333, with registered office at 66 APT 5, Triq Tat- Teatru L-Antik, Valletta, VLT 1427, Malta
Locusnine Innovations Pvt Ltd, a Verto company incorporated and registered under the laws of India under number 27AAEXL0711A1Z9, with registered office at Office No. 601, 9 Honey Gold, Plot No. 43, Ashoknagar, Range Hill Rd, Bhoslenagar, Shivajinagar, Pune, Maharashtra, 411007, India
VertoFX Ltd (DIFC Branch), registered in the Dubai International Financial Centre (DIFC), having company registration number 8041 and having registered address at Unit GV-00-10-03-BC-27-0, Level 3, Gate Village Building 10, Dubai International Financial Centre, Dubai, United Arab Emirates
We adhere to data privacy standards to protect your personal data wherever we provide services. We act as individual data controllers for the services provided.
WHAT PERSONAL INFORMATION WE COLLECT
To provide our services effectively and in compliance with the law, we collect various types of personal data, including:
Identity Information: Such as your title, full name, biometric details, date of birth, gender, identification documents, and account numbers.
Contact Details: Including your billing address, residential address, email, and phone number.
Financial Information: Bank account details, payment card information, and user ID tokens from payment providers.
Technical Information: IP address, browser type and version, time zone settings, device types, and software usage.
Profile Information: Your username, password, transaction data, feedback, survey responses, and recorded communications.
Usage Information: Data on how you interact with our websites, products, and services.
Marketing and Communication Preferences: Your preferences for receiving marketing communications from us or third parties.
This data is collected through various means such as our websites, customer interactions, or third-party sources.
Additionally, if you use the ID verification services in our Verto Pay app , we will also collect your biometric information (face data), government ID number (from a national database), and a photo of your face (selfie).
HOW AND WHY WE USE YOUR PERSONAL INFORMATION
Our primary purposes for using your data include providing services, verifying identity, managing customer relationships, preventing crime, and ensuring compliance with internal policies. In any instance, we will only use your data when we have a legal grounds to do so, such as:
To comply with legal obligations, ensuring adherence to legal and regulatory requirements (such as collecting documents to check your identity prior to allowing you to transact, for instance).
To provide services and comply with contracts: executing agreements made with you or pre-contractual steps.
For legitimate interests: improving service quality or preventing fraud (such as sharing data with relevant authorities, when necessary).
With your consent: where necessary, obtaining explicit consent for certain activities, such as marketing.
We will only use your biometric information (face data) with your consent and/or to comply with our legal and regulatory requirements, mostly to conduct Know Your Customer (“KYC”) verifications.
WHO WE SHARE YOUR INFORMATION WITH
Your personal data may be shared with:
Our Group Companies: For cross-entity collaboration and to ensure an efficient provision of services.
Service Providers: Engaged in delivering services like IT, payment processing, legal, and compliance support.
Regulatory Authorities: As required by law.
Credit Reference and Fraud Prevention Agencies: For credit checks and fraud prevention.
We utilize third-party services for identity verification purposes. When you use our app, we may collect face data for the sole purpose of verifying your identity. This data is securely transmitted to third-party providers, where it is processed and stored in accordance with their privacy policies. We do not store or retain any facial data collected. The third-party service provider's retention and privacy policies govern the handling and retention of this data.
We ensure that any third party with access to your data meets our stringent data security and privacy standards. The data collected for ID verification services, such as face data, is only shared with the third-party service provider(s) necessary for delivering these services. These providers may share the data with authorities if legally required to comply with regulatory or legal obligations.
YOUR RIGHTS
You have the following rights regarding your personal data:
Access: Request a copy of the data we hold about you.
Rectification: Request correction of inaccurate or outdated data.
Erasure: Ask us to delete your data if it is no longer required for the purposes collected.
Restriction of Processing: Request limited use of your data under specific circumstances.
Data Portability: Obtain your data in a commonly used format and transfer it to another provider.
Objection: Object to data processing for direct marketing or under specific conditions.
Automated Decision-Making: Request not to be subjected to automated decision-making processes that significantly affect you.
You can exercise these rights at no cost by contacting us using the details provided in this policy.
KEEPING YOUR INFORMATION SECURE
We are committed to safeguarding your data, regardless of how you interact with us (online, by phone, or in person). We follow stringent security protocols to protect your information from unauthorised access, use, alteration, or destruction.
COOKIES AND WEBSITE TRACKING
We use cookies and similar technologies to monitor website traffic, enhance functionality, and tailor your experience based on your preferences. For further information, please refer to our Cookie Notice.
DATA TRANSFERS
To provide seamless services, we may need to transfer your data outside your home country. Such transfers are always conducted in compliance with data protection laws, ensuring adequate security measures are in place.
HOW LONG WE KEEP YOUR INFORMATION
We retain personal data only for as long as necessary to fulfil the purposes for which it was collected, comply with legal obligations, resolve disputes, and enforce agreements. When no longer needed, your data will be securely deleted or anonymized.
Your face data is NOT retained by Verto. Our third-party service provider(s) who we will share this data with (in accordance with this policy), will store this data only as required by law.
For any privacy concerns, please contact our Data Protection Officer at dpo@vertofx.com
If you are unhappy with our privacy practices or our response to a complaint, you have the right to file a complaint with the appropriate supervisory authority, as indicated below. However, we would appreciate the opportunity to address your concerns directly before you reach out to the supervisory authority, so please consider contacting us first.
United Kingdom
United Kingdom Information Commissioner’s Office
Phone 0303 123 1113
United States
Federal Trade Commission
Phone (202) 326-2222
South Africa
Information Regulator (South Africa)
Phone +27 012 406 4818
inforeg@justice.gov.za,
justice.gov.za
Malta
Office of the Information and Data Protection Commissioner
Nigeria
Nigeria Data Protection Commission
Phone +234 (0) 916 061 5551
info@ndpc.gov.ng
India
Data Protection Board of India
UAE/Dubai
UAE Data Office
POLICY REVIEW AND CHANGES
This policy does not apply to information we collect about businesses or companies, however it does apply to information about the people in those businesses or companies which we store.
The policy applies to all forms of information, physical and digital, whether collected or stored electronically or in hardcopy.
If, at any time, you provide data or other information about someone other than yourself, you warrant that you have that person’s consent to provide such information for the purpose specified.
VertoFX is not available to children (persons under the age of 18 years).
This website privacy policy was last updated on the 06th of September 2024, and will be reviewed from time to time to take account any new obligations, technological advancements, changes to our operations or practices and to make sure it remains appropriate to the changing regulatory landscape. When we change this policy, we will inform you through your chosen or usual method of communication, including via email or highlighted banners on our website.
How We Use Your Biometric Data
As part of our commitment to protecting your privacy, Verto collects and processes certain personal data, including biometric information, specifically facial data, to enhance the security of our services. This section outlines how we collect, use, transmit, and safeguard facial data for identity verification and Know Your Customer (KYC) compliance.
Data Collection Verto collects facial data exclusively for identity verification purposes during registration or login. This data is captured and transmitted securely to our third-party identity verification provider, SmileID, for immediate processing. Verto does not store or retain any facial data, and all data collection and transmission are conducted in compliance with relevant regulations
Purpose of Data Collection We collect facial data solely for the following purposes:
Verifying your identity to enhance security and prevent fraud.
Facilitating secure login and account access.
Verto does not use your facial data for advertising, marketing, or profiling.
Data Storage and Retention Verto does not store or retain any facial data. Upon collection, your data is encrypted and securely transmitted to SmileID for identity verification. SmileID processes this data for the purposes of verification only. Please refer to SmileID's privacy policy for details on their data handling practices.
Data Transmission and Security We ensure that the transmission of your facial data to SmileID is fully secure. Verto uses industry-standard encryption protocols such as SSL/TLS to protect the transmission and comply with Apple’s guidelines for biometric data handling.
User Consent Before collecting your facial data, Verto will seek your explicit consent. By opting to use biometric verification, you agree to the secure transmission of your facial data to SmileID for identity verification. You can withdraw your consent at any time by adjusting your account settings or contacting us.
User Rights As a user, you have the rights to your facial data: To access, delete, or withdraw consent regarding your facial data, please send an email to support@vertofx.com or dpo@vertofx.com, and we will act on your request promptly.
Third-Party Processors Verto works with SmileID, a trusted third-party processor, to handle your facial data for identity verification purposes. SmileID complies with stringent data protection regulations, and we share data with them under strict agreements to ensure your privacy and data security.
Policy Updates This privacy policy may be updated periodically to reflect any changes in legal requirements or operational procedures. We will notify you of significant changes and update the policy on our website.