Payment infrastructure company Fincra has received a compliance status on her obligations in line with 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 Fincra’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 Fincra has engaged a Data Protection Compliance Organization to train their staff and implement data protection protocols across the enterprise.
“We are super excited to have gotten his status; this shows we are now even more compliant in protecting our customers’ data. This is a huge win for the team; we worked pretty hard to get here,” Ayowole Ayodele, Chief Executive Officer of Fincra, said.
“We have customer obsession as one of our core values, and this compliance status shows how serious we are about it,” said Uzoamaka Pauline Okoro, Fincra’s Chief Operating Officer.
“Customers and merchants who do business with us should rest assured that we are compliant in keeping their data safe.”
Fincra is a payment infrastructure for fintechs, global businesses and platforms. Fincra provides online and offline payments solutions that help businesses to send and receive payments securely and offer seamless financial services to their customers.