Privacy Policy for XSell App

Effective Date: 11-11-2024

This Privacy Policy outlines the procedures and standards Xtracap Fintech India Pvt Ltd (“Company,” “we,” “us,” or “our”) employs to collect, use, disclose, and protect information obtained through the XSell App (“App”). XSell is an internal application for Xtracap's Sales Team, providing borrower and supplier management, credit assistance tools, and an integrated click to call feature. By using the XSell App, users (“you,” “your,” or “user”) acknowledge and consent to the collection and use of data in accordance with this Privacy Policy. This policy applies to all employees, contractors, and authorized users of the XSell App within Xtracap Fintech India Pvt Ltd.

1. Scope of Information Collected

The scope of information collected on XSell is tailored to fulfill the essential functions of the Xtracap Sales Team. The data collected, used, or processed via XSell falls under the following primary categories:

Personal Information: Includes data that can identify individual borrowers or leads, such as names, contact information, business details, and financial identifiers. This information, collected with the customer's consent, enables the Sales Team to track and manage customer relationships and provide effective credit assistance.
Financial Information: We may collect financial health data, including credit assessments and transaction histories, relevant to the borrower’s creditworthiness. This data helps assess and facilitate credit assistance, ensuring informed decision-making in line with compliance standards.
Usage Data: Information on app interactions, such as login activity, page views, and feature usage patterns, is collected for internal analytics to improve app performance, resolve technical issues, and refine user experience for efficiency.
Consent and Withdrawal: Data is collected with the customer’s explicit consent, documented at the point of data collection. Users have the right to withdraw their consent at any time, and instructions for withdrawal are provided in the app settings.

Additional Note: Detailing how this consent is obtained, documented, and the options available for users to withdraw consent, as required under DPDP.

Purpose of Collection and Usage

Data collected on XSell is exclusively for the Company’s internal operations and sales team efficiency. Specifically, this data is used to:

Enhance Borrower and Supplier Management: Provide real-time access to borrower and supplier data, facilitating accurate information flow for the Sales Team.
Optimize Lead and Borrower Tracking: Enable seamless addition, tracking, and analysis of lead and borrower details to streamline onboarding processes and credit assessment workflows.
Enable Performance Analytics: Usage data informs app improvements, feature optimization, and ensures the app meets evolving operational needs.

Consent and Withdrawal: Data is collected with the customer’s explicit consent, documented at the point of data collection. Users have the right to withdraw their consent at any time, and instructions for withdrawal are provided in the app settings.

2. Data Protection and Security

We employ stringent security measures to protect data in the XSell App from unauthorized access, disclosure, or destruction. Security protocols include:

Data Encryption: All sensitive data, including personal and other is encrypted both in transit and at rest, adhering to industry standards to prevent unauthorized access.
Access Controls: Only authorized personnel within Xtracap Fintech India Pvt Ltd have access to data collected within the App. Access is granted strictly based on role and necessity.
Secure Authentication: User access to the App is secured through regularly updated passcode to enhance security.
Audits and Monitoring: Routine audits and monitoring ensure adherence to security protocols and allow us to promptly address any anomalies or security threats.

Routine Security Updates and Incident Management: Xtracap conducts regular security audits and implements routine security updates. In case of any data breach or security incident, users will be notified as per the regulatory guidelines.

3. Disclosure of Information

XSell does not share, sell, or distribute personal information collected through the App to external parties, except as may be required by applicable laws and regulations. Data sharing within the Company is limited to:

Authorized Personnel: Access to data is limited to employees and agents of Xtracap Fintech India Pvt Ltd with a legitimate need to know for business or compliance purposes.
Regulatory Disclosures: Data may be disclosed to regulatory authorities or law enforcement agencies as required by Indian law or in response to lawful requests.

4. Retention of Data

Information collected in XSell is retained only for as long as it is necessary to fulfill the purposes outlined in this Privacy Policy or as required by law. When information is no longer needed, it is securely deleted, anonymized, or archived in compliance with Company data retention policies.

Upon termination of the user’s role or cessation of use of XSell, relevant data will be archived or deleted based on the Company’s internal policies for data lifecycle management.

5. User Rights

In line with Indian data protection laws, users have the right to:

Access Personal Data: Users can request access to personal information maintained within XSell.
Update or Rectify Information: Users may request correction or updates to their information if it is inaccurate, incomplete, or outdated.
Request Deletion of Information: Users may request deletion of personal data that is no longer relevant to business needs, subject to internal approval.

For any requests regarding data access, updates, or deletion, users may contact the Company’s Data Protection Officer (DPO) at info@xtracapindia.com . All grievances related to data rights will be addressed within 30 days, in line with the DPDP 2023.

6. Disclosure of Information

XSell may, on occasion, engage trusted third-party processors or service providers for operational support. Any data shared with such entities will comply with the DPDP’s requirements, ensuring data protection standards are upheld. For any requests regarding data access, updates, or deletion, users may contact the Company’s Data Protection Officer (DPO). Requests will be addressed promptly and in accordance with applicable laws.

7. Updates to the Privacy Policy

Xtracap Fintech India Pvt Ltd may revise this Privacy Policy periodically to reflect changes in laws, regulations, or internal practices. Users will be notified of significant changes to the policy. Continued use of the App following such changes constitutes acceptance of the revised terms.

Notifying users of changes and seeking their acknowledgment aligns with DPDP’s transparency requirements.

Privacy Policy for XSell App

Advanced 100% Digital Platform: Our state-of-the-art digital platform provides near real-time disbursements and insights into transactions with partners. This transparency spans Tier 1 and Tier 2 suppliers, ensuring increased liquidity within the network.

Assisted Distributor Onboarding: Our team offers online support for distributor onboarding, utilizing 100% digital engagement in underwriting customers for trade lines based on the sales and cash flow of your trade partners.

Risk Mitigation: Our advanced risk assessment algorithms enable us to identify and mitigate risks tied to your supply chain partners. This proactive approach safeguards lending partners' interests and ensures timely liquidity in distribution.

Effortless Financing: In collaboration with IIFL Finance Ltd, our financing solutions provide seamless access to capital for both distributors and dealers. This promotes smoother operations, and collaboration, and reinforces the entire supply chain network.