Tala receives nod to act as a data controller in Kenya - Capital Business
Connect with us

Hi, what are you looking for?

Tala disburses between Sh1,000 and Sh30,000 in loans to 900,000 customers monthly with 70 percent using the loans for working capital/COURTESY/

Kenya

Tala receives nod to act as a data controller in Kenya

NAIROBI, Kenya Sep 7 – Financial technology firm Tala has received a green light from the Office of Data Protection Commissioner(ODPC) to act as a data controller in Kenya.

The firm will now be able to control the processing of personal data, determine the purpose, and means of processing that data, and can instruct another legal, certified and regulated entity or third party to process data on its behalf.

While acknowledging the accreditation, Tala’s General Manager, Munyi Nthigah reiterated that the company only asks for data legitimately needed for consumers to access Tala products such as loan underwriting, and provides full disclosure as to how it uses customer’s data in its privacy policies.

All information Tala collects during the application process is used exclusively to verify the customer’s identity and build their credit profile.

“This is a great milestone for our company, especially as we diversify our product portfolio and expand across markets. At the core of Tala’s consumer data protection policies are the safeguards, security measures and mechanisms we have implemented to protect personal data, so that we are able to swiftly react to any potential data breach,” said Nthigah.

Nicola Muriuki, Tala’s Legal Director closed by urging the Company’s 3.5 million customers to take the time to familiarize themselves and understand their data rights as Kenyans on the ODPC’s website, and as Tala customers via Tala’s App Privacy Notice, available In-App on on Tala’s website.

Nearly 3 billion people globally are underserved by the formal financial system, with little to no options to support their financial agency and independence.

The Office of the Data Protection Commission has urged all data controllers and processors to register their entities, in line with the provisions of the Data Protection Act, 2019.

As of September 2, ODPC had issued 332 entities with certificates of registration whereas 805 were yet to complete the registration process by making their payment.

Advertisement. Scroll to continue reading.

Additional 459 entities are still at the registration stage while applications of 64 other entities are under review.

Advertisement

More on Capital Business

Investments in Africa

NAIROBI, Kenya, Mar 20 – Digital credit consumers remain bullish on the Kenyan economy, with seventy-five percent (75pc) of them reporting that they are...

Top Story

NAIROBI, Kenya, Jan 29 – The uptake of school loans has increased in Kenya over the last four years amid tough economic times. Tala’s...

Top Story

NAIROBI, Kenya, Nov 15 – Digital lending platform Tala has introduced a new feature that will allow its users to borrow multiple times until...

Kenya

NAIROBI, Kenya, Oct 23 – Digital lending platform Tala has confirmed Annstella Mumbi as the new General Manager (GM). Prior to the new post,...

Kenya

NAIROBI, Kenya, June 14 – Digital lending in Kenya has been rising, offering affordable and easy access to credit through technology. Its popularity has...

Kenya

NAIROBI, Kenya, June 7 – Digital lender Tala has announced the appointment of Agnes Muthoni as the new Head of Growth and Strategy. Muthoni...

Kenya

NAIROBI, Kenya, Mar 15 – Digital lenders have disbursed a total of Sh500 billion in mobile loans to households and small businesses. A total...

Kenya

NAIROBI, Kenya March 13 – Nearly three in ten (85 percent) Tala customers have adopted a saving culture, channeling more of their loans to...