Cookie Policy

Updated in September 2024

Introduction

At Lily Fintech Ltd. (“we,” “our,” or “us”), we use cookies and similar tracking technologies to enhance your experience on our website and mobile applications. This Cookies Policy explains what cookies are, how we use them, your choices regarding cookies, and additional information about data collected through cookies.

This policy also complies with relevant privacy regulations, including Nigeria’s NDPR, GDPR (for European users), and CCPA (for California users). It outlines your rights regarding the data collected through cookies and provides ways to manage your preferences.

What Are Cookies?

Cookies are small text files stored on your device (computer, tablet, or mobile) when you visit a website. They are used to make websites function more efficiently and to provide information to the website’s owner. Cookies may collect data such as your browsing history, preferences, or user activity.

Cookies can be categorized as follows:

  • Essential Cookies: Necessary for the website to function correctly. These cookies cannot be disabled in our systems. They are set in response to actions you take, such as filling out forms or selecting preferences.

  • Performance Cookies: Collect information about how visitors use our website (e.g., pages visited most frequently, errors encountered). This data helps us understand user behavior and improve site performance. Performance cookies may collect anonymized data.

  • Functional Cookies: Enable enhanced functionality and personalization (e.g., remembering your preferences). These cookies may be set by us or third-party providers whose services are integrated into our site.

  • Targeting Cookies: Used to deliver relevant advertisements to you based on your browsing habits and interests. These cookies also help track the effectiveness of advertising campaigns and may collect data on user activity across different websites.

How We Use Cookies

We use cookies for the following purposes:

  • Website Functionality: Essential cookies ensure that our website operates correctly. Without these cookies, certain functions (such as account login) may not be available.

  • User Behavior Analysis: Performance cookies help us monitor how visitors interact with our website, enabling us to improve user experience and optimize our content.

  • Personalization: Functional cookies remember your preferences and tailor content to provide a more personalized experience.

  • Targeted Advertising: Targeting cookies deliver ads based on your interests and track your interactions with our advertisements, both on and off our site. These cookies help measure the effectiveness of ad campaigns and provide insights into user engagement.

Your Rights and Choices Regarding Cookies

You have the following options for managing cookies:

  • Browser Settings: Most web browsers allow you to control cookies through their settings. You can set your browser to refuse cookies or to alert you when cookies are being sent. If you disable cookies, some features of our website may not function correctly.

  • Cookie Consent Banner: When you visit our website for the first time, a cookie consent banner will appear, allowing you to accept or reject non-essential cookies (such as performance and targeting cookies). You can adjust your preferences at any time by visiting our “Manage Cookies” section.

  • Opt-Out Links for Third-Party Cookies: For third-party cookies (e.g., those used for analytics and advertising), you can visit the service providers’ websites to learn more about their privacy policies and opt-out mechanisms. Links to opt-out pages for popular third-party services are provided below.

Third-Party Cookies

In addition to our own cookies, we may use third-party cookies to collect information and deliver ads. These cookies are governed by the privacy policies of the respective third-party service providers. Examples of third-party services we may use include:

  • Google Analytics (for performance tracking) – Opt-out

  • Facebook Ads (for targeted advertising) – Opt-out

We recommend reviewing their privacy policies to understand how they handle your data.

Cookie Duration

Cookies are classified based on their duration:

  • Session Cookies: Temporary cookies that expire when you close your browser. These are typically essential cookies that enable basic website functions.

  • Persistent Cookies: Cookies that remain on your device for a set period or until manually deleted. These may include performance, functional, or targeting cookies, which allow for longer-term tracking or personalization. Persistent cookies may last up to 24 months, depending on their purpose.

Data Retention Policies

Data collected through cookies is retained based on the type of cookie:

  • Essential Cookies: Retained only for the duration of your session.

  • Performance and Functional Cookies: Typically retained for up to 24 months, or as required to provide the intended functionality.

  • Targeting Cookies: Retention duration is determined by the third-party service providers and may vary.

Please note that data retention periods comply with applicable data protection laws, and you have the right to request access, correction, or deletion of your personal data at any time.

Impact on User Experience

Disabling cookies may impact your experience on our website. Essential cookies are necessary for the website to function and disabling them may prevent access to certain features (e.g., logging in, saving preferences). If you disable performance or targeting cookies, personalized content or advertisements may not be available.

Changes to This Cookies Policy

We may update this Cookies Policy from time to time to reflect changes in our practices, legal requirements, or operational needs. When significant changes are made, we will notify you through appropriate channels (e.g., a notice on our website or email). Please check this policy periodically for updates.

Contact Us

If you have any questions, concerns, or requests regarding this Cookies Policy or your data privacy rights, please contact us at:

Lily Fintech Ltd.
3 Birrel Avenue, Yaba, Lagos, Nigeria
Phone: +234-123-4567
Email: feedback@lily.com.ng

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LILY is a digital product of MagnaCap Ltd, a company duly licensed by the Securities and Exchange Commission (SEC). LILY and its logo are registered trademarks. LILY is safe and secure and in compliance with NDPR audit. Payments on the LILY App are processed via a CBN licensed and PCI DSS certified payment platform with bank level security to ensure client transactions and financial information are always kept safe. Our users’ financial assets are held with a licensed custodian Access Investors Services Nominees Limited, for safekeeping.

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