This Policy describes the manner in which Standard Chartered Research and Technology India Private Limited, with its registered office at 2nd Floor, Indiqube Edge, Khata No.571/630/6/4, Ambalipura Village, Varthur Hobli, Mahadevpura Div, Bangalore 560102, Karnataka, India (“SCR&T”) collects information/data from you, how we store, use, process and disclose such information, and the steps we take to protect such information.
“We”, “our” and “us” refer to SCR&T. “You” and “your” refer to the current and former visitors to the Website, User and/ or his/her/its Authorized Representative (defined below), directors or owners, as applicable.
By accessing the Website (defined below) or using the SCR&T Services (defined below), the User agrees that the User and the Authorized Representative have read and understood, and, agree to be bound by the Policy and give prior and explicit consent for providing information and data in the ways listed in this Policy. This Policy is incorporated into and subject to the Terms of Service available at https://www.solvezy.com/terms-of-services/. By using the Website, you expressly consent to our use and disclosure of your personal information and sensitive personal information (as defined under the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 (“ Data Protection Rules”)) in accordance with this Policy.
Further, if you are accessing SCR&T Services through the Mobile Application (defined below), then while this Policy shall apply to such use, there may be privacy terms (such as the terms imposed by mobile application stores like App Store (iOS), Android’s (Google) Play Store,Microsoft’s store, from time to time) which will govern the use of the Mobile Application.
Further, this Policy applies to all current and former visitors to the Website. It is strongly recommended for you to return to this page periodically to review the most current version of the Policy.
SCR&T is committed to maintain the confidentiality, integrity and security of all information of our Users. It is important to read the entire Policy along with our Terms of Service carefully as some of the provisions affect your legal rights and obligations.
Account shall mean the account created by the User on the Website after successful completion of registration.
Authorized Representative shall mean the employee or authorised representative of the User who is specifically authorized to register on the Website on behalf of the User to assist the User to avail the Third Party Service Offerings.
Card Services shall mean credit cards issued by Lenders and pre-paid cards issued by Third Party Service Providers authorised by the RBI in this regard, offered to Users on the Platform and co-branded with SCR&T branding.
CIC shall mean a credit information company that has been granted a certificate of registration under the Credit Information Companies (Regulation) Act, 2005.
Commerce Offering shall mean and include the e-commerce portal of the SCR&T Services through which Users may offer goods and/or services to other Users on the Platform.
Credit Information shall mean collectively the credit information as defined under the Credit Information Companies (Regulation) Act, 2005, credit information report, credit score, and other credit data and analysis reports received in relation to your credit information from CICs.
Financial Services shall mean SCF Services, Solv Pay Later and such other services provided by Lenders to the Users on the Platform.
Mobile Application shall mean the mobile application belonging to SCR&T which is developed and designed to run on various mobile operating systems, for providing the SCR&T Services.
Partner shall mean third party partners of SCR&T from whom SCR&T may obtain certain services in relation to the Website including but not limited to the CICs, verification companies, information repositories, data analytics providers, payment gateways, speech recognition service providers, etc. to provide the SCR&T Services.
Platform shall mean digital platform having the tradename and brand name 'Solv', as operated and maintained by SCR&T, the front-end version of which is accessible through the Website.
Personal Information (PI) shall have the meaning given to it in Rule 2(i) of the Data Protection Rules.
SCF Services shall mean the supply chain financing services provided by the Lenders to the Users on the Platform.
SCR&T Services shall mean the service of providing the Website and the Platform which facilitates and connects Users to (i) Other Users, and (ii) various Third Party Service Providers providing Financial Services, logistics accounting, HR and payroll management services etc. to the User and any related services in relation to the Commerce Offering or Third Party Service Offerings, which may include ‘text to speech’ and speech recognition services.
Sensitive Personal Information (SPI) shall have the meaning given to it in Rule 3 of the Data Protection Rules.
Third Party Service Offerings shall mean the Financial Services, Card Services, Insurance Services, Logistics Services, HR, accounting and other services provided by Third Party Service Providers to Users on the Website.
Third Party Service Providers shall mean service providers including banks, NBFCs, Lenders, sellers, service providers, card issuers, insurers and logistics providers who are onboarded on the Platform and from whom the Users can avail the Third Party Service Offerings.
Usage Informationshall mean information that we automatically collect about how you access and interact with the SCR&T Services.
User shall mean any individual/organisation (as the case maybe) registered on the Website for using the SCR&T Services to avail any Commerce Offering or Third Party Service Offerings and shall include master anchors, anchors and dealers under the SCF Services.
User Data shall mean any data submitted by the User or the Authorized Representative on behalf of the User, to or in relation to the SCR&T Services or Third Party Service Offerings or Commerce Offerings and shall include PI and SPI.
Website shall mean the domain i.e. www.solvezy.com and/or the Mobile Application.
Any term that is capitalised herein and not defined in this Policy shall have the meaning given to it in the Terms of Service available at https://www.solvezy.com/terms-of-services/.
2. Information We Collect
2.1 User-Provided Information: This Policy applies to User Data collected from you or our Partners, such as details pertaining to your name, parentage, nationality, state/city of residence, residential address, e-mail address, date of birth, gender, contact number/mobile number, user IDs, passwords, net banking credentials, bank account details, recent photograph, signature image, income proof, PAN, GST number, credit score, credit information report, and other Know Your Customer ( KYC) documents including identity and address proof such as Aadhaar Card, driver license or other government issued identity proof, Officially Valid Documents/details accepted for concluding a financial transaction including those specified in Annexure A of the Terms of Service, which may be shared/ uploaded by you, as and when you avail any SCR&T Services, and to which SCR&T may become privy to. Further, the Users will have to upload and share bank statements of specific duration, board resolution, income statement, sales and purchase data, cashflow statement, balance sheet, income tax return filing data, details regarding collaterals (property details supported by documents), photos and videos, etc. and any other documents specified in Annexure B of the Terms of Service for availing SCR&T Services including Financial Services.
2.2 Information We Automatically Collect: Information We Automatically Collect: In addition to information you provide to us, we automatically collect certain information about how you access and interact with the SCR&T Services(“Usage Information”). This Usage Information is a key part of how we improve your experience on our Website and provide you with more personalized services. We may use various technologies to collect and store such Usage Information in connection with the SCR&T Services. These may include things like cookies, browser web storage (e.g., HTML5), web beacons and similar technologies. There are four types of Usage Information we may collect:
a. Device Information. This is information about how you access SCR&T Services, such as the operating system, hardware model, application or browser type and version, and unique identifiers associated with your device.
b. Log Information. There are certain pieces of information we automatically collect in system logs or similar files about how you interact with SCR&T Services, such as which features you visit or click on. This Log Information may also include things like your IP address, browser or device configuration, date and time of access and cookie information.
c. Location Information. We may use certain information like your IP address or other Device Information or Log Information to estimate your location (e.g., your city or state). We may also request to use location-enabled services on your device (which typically provide GPS or Wi-Fi access point details) to enhance our services. We will only use these location-enabled services on your device with your consent, though.
d. Conversations. Any chats or conversations (whether text/voice/video) that you may conduct through the Website, including with other Users in the course of transactions with them including in relation to the Commerce Offerings, will be automatically recorded and stored with us.
2.4 Information from Other Sources: Many of our features rely on information about you that we collect from Partners and Third Party Service Providers, such as information pertaining to you in relation to the goods and service taxes, income tax reports, Credit Information, your corporate information, etc. from the records maintained by the Ministry of Corporate Affairs, income tax department and other governmental authorities or our Partners.
3. Express Consent
3.1 By providing User Data as mentioned hereinabove, you expressly consent to SCR&T (including its marketing channels, Partners and Third Party Service Providers) to contact you through SMS, call, e-mail, push notifications, social media and/or other channels that may be used for communication from time to time and with follow-up communication in relation to the SCR&T Services and Third Party Service Offerings, for imparting product knowledge, offering promotional offers running on the Website, and various other offers offered by the Third Party Service Providers or SCR&T. You hereby authorize SCR&T to contact you even if you have registered yourself under DND, DNC service(s). Your authorization, in this regard, shall be valid as long as your Account is not deactivated by either you or us.
3.2 The usage of the Website may also require you to provide consent for keying in/ uploading your User Data (including but not limited to user IDs and passwords), as may be necessary to process your application through the Platform. Any User Data which requires to be keyed in/ uploaded is required for enabling hassle free, faster and paperless (to the extent possible) processing of applications for Third Party Service Offerings so opted/availed by you.
3.3 You hereby authorize and expressly and explicitly provide consent for us to share your User Data with third parties including but not limited to Partners including CICs, and Third Party Service Providers and other Users acting as sellers in the Commerce Offering for the provision of SCR&T Services and Third Party Service Offerings to you.
3.4 You hereby authorize and explicitly provide consent for us to share your User Data and other documents/information mentioned in Annexure A and Annexure B of the Terms of Services with Lenders for accessing and providing Financing Services and Third Party Service Offerings to you. List of our Lenders is available in Terms of Services.
3.5 You further expressly authorize us to share the recordings of your conversations on the Website with Partners to provide you SCR&T Services such as ‘text to speech’ and speech recognition.
3.6 You hereby authorize and explicitly provide your consent to use your information to create anonymized and aggregated information. Anonymized or aggregated information is not personal information, and we may use such information in a number of ways, including research, internal analysis, credit risk analysis/data analysis, and any other legally permissible purposes. We may also share this information with third parties for the aforesaid purposes in an anonymized or aggregated form that is designed to prevent anyone from identifying you.
3.7 SCR&T reserves the right (and you expressly authorize SCR&T) to share or disclose your User Data when SCR&T determines, in its sole discretion, that the disclosure of such information is necessary or appropriate under applicable laws.
4. Credit Information Reports
4.1 Your Credit Information is procured from CICs, and SCR&T has no control over the content or accuracy of information provided in your Credit Information by CICs. SCR&T receives this information from a CIC once you provide authorization/ consent in a template provided incorporated in the Terms of Service to appoint SCR&T as your lawfully appointed authorized agent/ representative for receiving your Credit Information and provide your consent on the CIC’s portal as well on your behalf.
4.2 From the Website, the User may be directed to the portal of the relevant CIC and will be required to provide its authorization/consent on the portal. Thereafter, the CIC will share the Credit Information with SCR&T. By authorizing us to receive your Credit Information report, you agree that SCR&T and CICs shall be entitled to rely on your authorization and consent granted by you to SCR&T.
4.3 SCR&T may analyze and use your Credit Information in order to provide SCR&T Services to you, and to identify and inform you of Third Party Service Offerings that are likely to be suited to your circumstances. Any derivative outputs so developed independently by SCR&T may be shared with Third Party Service Providers to enable them to provide you with the financial services you have applied for on the Website, and you consent to such access by Third Party Service Providers of your Credit Information including your PI and SPI.
5. How We Use the Information We Collect
We use the User Data in a variety of ways in providing the SCR&T Service and operating our business, including the following:
5.1 To operate, maintain, enhance and provide all features of the SCR&T Service, to provide services and information that you request, to respond to comments and questions and otherwise to provide support to Users, and to process and deliver entries and rewards in connection with promotions that may be offered from time to time on the Website.
5.2 For training and quality monitoring.
5.3 To access your Credit Information from the CIC on your behalf and create our independent derivative outputs from such Credit Information for the provision of SCR&T Services.
5.4 To understand and analyze the usage trends and preferences of our Users, to improve the SCR&T Service, and to develop new products, services, features, and functionality.
5.5 To contact you for administrative purposes such as customer service or to send communications, including updates on promotions and events, relating to products and services offered by us and by third parties and you hereby consent to receiving such communications by agreeing to these terms.
5.7 We will not retain information you provide for longer than is required for the purposes for which the information may lawfully be used or is otherwise required under any other law for the time being in force or as otherwise stated in this Policy for purpose specified. Save and except the above, we will retain the information you provide for a period of 7 (seven) years subject to the compliance with applicable laws.
6. When We Disclose or Transfer your Information
Except as described in this Policy, we will not disclose User Data to third parties without your consent, and in the manner detailed in this Policy. We may disclose information to third parties if you consent to us doing so, as well as in the following circumstances:
6.1 For availing services from Users, Third Party Service Providers or Partners - We provide our Third Party Service Providers your User Data to enable you to avail any Third Party Service Offering, and to Partners in order to obtain information from them, as described in this Policy. We may share your SPI with our Partners and Third Party Service Providers listed here. We may also provide your User Data to other Users to facilitate your transactions with such Users on the Platform.
6.2 When you publicly post the information - As part of the SCR&T Services, we may provide opportunities for you to publicly post reviews, questions, comments, suggestions or other content, which may include your PI and SPI and portions of your Account information designated as public profile information, like your name or username.
6.3 When we collaborate with third parties to provide or improve SCR&T Services - We may work with other third parties to provide website and application development, hosting, maintenance, validating and authenticating the official verification documents shared, analyzing transaction behavior, bank statements, goods and services tax returns, salary and income statements, income tax returns for providing Financial Services and other services for us. Further, as a part of facilitating the Financial Services, we will store and share the information /documents shared by you (including credit assessment documents and/or credit information generated while availing Financial Services such as repayment data, due date etc.) with certain third parties including technology vendors etc. for validating/analyzing and authenticating the documents shared, undertaking the credit risk evaluation/data analysis and for any other purpose informed to you. Accordingly, you hereby authorize and explicitly provide consent for us to share your User Data and aforesaid documents/information with the third parties. Details of the third parties we share your information/documents for facilitating Financial Services are Perfios Software Solutions Pvt. Ltd and Power2SME PTE LTD. These third parties enable us to provide you with SCR&T Services including but not limited to quicker loan disbursals, customizing/tailoring products for you in future and further improve the services. These third parties may have access to or process information about you as part of providing those services for us. Generally, we limit the information provided to these service providers to that which is reasonably necessary for them to perform their functions, and we require them to agree to maintain the confidentiality of such information. Notwithstanding the foregoing, we may share the recordings of your conversations with Partners to provide you with 'text to speech' and speech recognition facilities pursuant to Section 3(iv) of this Policy.
6.4 To provide you Financial Services or Card Services - We may share your documents with Lenders or issuers of prepaid cards to enable them to determine whether you are eligible to receive FinancialServices or Card Services.If necessary to protect and safeguard certain interests - We also reserve the right to disclose information about you that we believe, in good faith, is appropriate or necessary to (i) take precautions against liability, (ii) protect ourselves or others from fraudulent, abusive, or unlawful uses or activity, (iii) investigate and defend ourselves against any third-party claims or allegations, (iv) protect the security or integrity of the SCR&T Service and any facilities or equipment used to make the SCR&T Service available, or (v) protect our property or other legal rights (including, but not limited to, enforcement of our agreements), or the rights, property, or safety of others.
6.5 As part of a corporate change - User Data maybe disclosed and otherwise transferred to an acquirer, successor, or assignee as part of any merger, acquisition, debt financing, sale ofassets, or similar transaction, or in the event of any insolvency,bankruptcy, or receivership in which information is transferred to one or more third parties as one of our business assets.
6.6 Business or marketing purposes - We may make certain aggregated, automatically-collected, or otherwise non-personal information available to third parties for various purposes, including (i) compliance with various reporting obligations; (ii) for business or marketing purposes; or (iii) to assist such parties in understanding our Users’ interests, habits, and usage patterns for certain programs, content, services, advertisements, promotions, and/or functionality available through the SCR&T Service.
6.7 For legal reasons - We may disclose User Data if required to do so by law or in the good-faith belief that such action is necessary to comply with applicable laws, in response to a court order, judicial or other government subpoena or warrant, or to otherwise cooperate with law enforcement or other governmental agencies.
6.8 With your consent - There may also be other limited contexts in which we share specific types of User Data with your express/explicit consent.
7. Your Privacy Choices
If you wish to delete your Account, you may write to us at firstname.lastname@example.org . Please note that Account closure is permanent action and once your Account is closed it will no longer be available to you and cannot be restored. If you decide later that you want to start ordering from Platform again or use any of the services provided by us, you will need to create a new account.
If you have ordered any product or in the process of availing any services from our Platform, we will not be able to process deletion request. Accordingly, we request you to raise such deletion request once the product or the services have been delivered to you and/or any outstanding amount/dues have been cleared in relation to any services availed from SCR&T. Further, in the event of the pendency of any legal / regulatory proceeding/dispute or receipt of any legal and / or regulatory direction to that effect, SCR&T may be required by the applicable laws to retain your User Data for longer periods.
We will verify your identity at the time of submission of requests to delete the Account so as to determine whether the User making the request is the user about whom we have collected information. Accordingly, you will have to verify your identify as required by SCR&T.
Upon receipt of your request for deletion of Account, we will be permanently deleting your User Data. However, please be advised that to fulfill our legal obligations, we retain certain User Data such as order history, transaction data in accordance with applicable laws including for tax, accounting and fraud prevention purposes, for a period no longer than is required under any applicable law. We may also continue to retain your data in anonymised aggregated form for analytical and research purposes. Anonymized or aggregated information is not personal information.
If you receive commercial emails from us, you may unsubscribe at any time by following the instructions contained within the email. You may also opt out from receiving commercial emails from us by sending your request to us by email at email@example.com. We may allow you to view and modify settings relating to the nature and frequency of promotional communications that you receive from us through the Account preferences page on the Website.
Please be aware that if you opt out of receiving commercial emails from us or otherwise modify the nature or frequency of promotional communications you receive from us, it may take up to ten business days for us to process your request, and you may continue receiving promotional communications from us during that period. Additionally, even after you opt out from receiving commercial messages from us, you will continue to receive administrative messages from us regarding the SCR&T Services you have applied or opted for.
You may choose to opt out of SMS promotional services as well. To opt out, send an SMS <keyword with number to be defined>. Once you send the request, it may take upto 10 business days to process your request. Further, upon a request to opt-out of SMS communication, you will be able to opt out of only promotional messages. You will continue to receive transaction related messages.
8. Data Security
We use certain physical, managerial, and technical safeguards that are designed to improve the integrity and security of information that we collect and maintain as required by applicable law. We have implemented the ISO/IEC 27001:2013 standard for all processes supporting the development and delivery of SCR&T Services. Please be aware that no security measures are perfect or impenetrable. We cannot and do not guarantee that information about you will not be accessed, viewed, disclosed, altered, or destroyed by breach of any of our physical, technical, or managerial safeguards.
9. Confidentiality of Login ID and Password
You are responsible for maintaining the security of your login ID and password for your Account and must not provide these credentials to any third party. If you believe that they have been stolen or been made known to others, you must contact us immediately at firstname.lastname@example.org. We are not responsible if someone else accesses your Account through the login credentials they have obtained from you or through a violation by you of this Policy or ourTerms of Service.
10. Changes and Updates to this Policy
We may amend or update our Policy. Please revisit this page periodically to stay aware of any changes to this Policy, which we may update from time to time. We may provide you notice of material amendments to this Policy, as appropriate, and update the “Last Modified” date at the top of this Policy. Your continued use of the SCR&T Services confirms your acceptance of our Policy, as amended. If you do not agree to our Policy, as amended, you must stop using our Services.
11. Grievance Officer
If you have any concerns or questions in relation to this Policy, you may address them to our grievance officer whose name and details are as follows:
Name: Ms. Khushboo Agarwal
Email ID: email@example.com
Address: 2nd Floor, Indiqube Edge, Khata No.571/630/6/4, Ambalipura Village, Varthur Hobli, Mahadevpura Div, Bangalore 560102
Phone No.: 080 68242424