Payment infrastructure company Fincra has received a compliance status on her obligations in line with the Nigeria Data Protection Regulation (NDPR) for implementing all the statutory requirements to protect the privacy rights of Nigerians and its customers.
The NDPR is the leading data protection regulation in Nigeria. It makes provision for the rights of data subjects, the obligations of data controllers and data processors, transfer of data to a foreign territory, among others.
To ensure that Fincra is in line with NDPR requirements, the company subjected itself to an audit from a Data Protection Compliance Organisation (DPCO). DPCOs are entities licensed to, among other things, carry out Data Protection Regulations Compliance and Breach Services.
After auditing the company’s process, the DPCO filed an audit report with the Nigeria Data Protection Bureau (NDPB). This Federal Government agency supports the process for the development of legislation for data protection and privacy.
The DPCO reported that Fincra had undergone the NPPR audit process to ascertain its compliance levels and identify improvement areas. With this report, the NDPB has granted a compliance status to Fincra.
This status means that the company has engaged a Data Protection Compliance Organisation to train their staff and implement data protection protocols across the enterprise.
“This compliance status means that customers’ data is safe and secured as the NDPR governs us,” Fincra’s Compliance Manager, Sanmi Lawal said.
“It is all part of our customer obsession, a value we hold dear in the company. Now customers can trust us and be assured that their data is safe with us.”
Fincra is a payment infrastructure for fintechs, global businesses and platforms. The company provides online and offline payment solutions that help businesses to send and receive payments securely and offer seamless financial services to their customers.