Introduction

This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you visit our platform, use our services, or interact with our mobile application. We operate in partnership with licensed operators in Malaysia, and are committed to complying with the Personal Data Protection Act 2010 (PDPA), Bank Negara Malaysia (BNM) guidelines, and relevant laws by the Ministry of Finance (MoF).

By accessing our services, you consent to the collection and use of your data in accordance with this policy.

Information We Collect

We collect the following categories of personal data:

2.1 Personally Identifiable Information (PII)

• Full Name

• National Registration Identity Card (NRIC) or Passport Number

• Contact Information (Phone, Email, Address)

• Banking & Payment Details

• Employment or Business Information (for eligible services)

• IP address, device ID, location data (when permitted)

2.2 Usage Data

• Session activity and usage logs

• Device information

• Crash reports and analytics (for Google Play and App Store compliance)

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Purpose of Data Collection

Your data is collected and used for the following legitimate purposes:

• To verify your identity and eligibility for our services

• To process transactions and maintain your account

• To comply with financial and legal regulations (e.g. anti-money laundering)

• To improve and personalize your experience

• To provide customer support

• To send important service-related communications

• For analytics, fraud prevention, and security monitoring

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Disclosure of Personal Data

Your personal data may be disclosed to:

• Licensed financial or service operators we are partnered with

• Regulatory authorities (e.g. Bank Negara Malaysia, MoF) as required by law

• Law enforcement or legal counsel in compliance with subpoenas, warrants, or litigation

• Third-party service providers (e.g., payment gateways, hosting partners) under strict confidentiality agreements

We do not sell or rent your personal data to any third party.

Cross-Border Data Transfers

Your information may be transferred to servers located outside Malaysia (e.g., AWS, Google Cloud, Apple iCloud). We ensure that all cross-border transfers comply with Section 129 of the PDPA and are protected by standard contractual clauses and equivalent data protection safeguards.

Data Retention

We retain personal data for as long as:

• It is necessary to fulfill the purposes stated in this policy

• It is required by relevant financial regulations and audit obligations (usually 7 years)

After the retention period, personal data will be securely deleted or anonymized.

User Rights

Under the PDPA, you have the right to:

• Access and correct your personal data

• Withdraw consent at any time (subject to legal and service obligations)

• Request data deletion or restrict processing (if legally permitted)

Requests can be made via our contact form or email at privacy@iadvance.my.

Security Measures

We implement industry-standard security technologies and procedures, including:

• HTTPS encryption and SSL certificates

• Firewalls and intrusion detection

• Two-factor authentication (2FA)

• Secure database access control

If a data breach occurs, we will notify affected users and regulators in accordance with BNM and MoF guidelines.

Internet Community Compliance

We adhere to:

• Google Play Developer Policy (including user data, advertising ID, and background access requirements)

• Apple App Store Review Guidelines (particularly Section 5: Legal)

• Explicit in-app user consent before accessing location, contacts, or sensitive data

• Data minimization practices in app submissions

Apps will never access or request sensitive data without clear purpose, consent, and visible justification.

Cookies and Tracking

We use cookies and local storage to enhance your experience and analyze usage. You can disable cookies in your browser settings, but some services may not function properly.

Changes to This Policy

We may update this policy periodically. When we do, we will revise the "Last Updated" date above and notify users via email or app push notifications where necessary.

Contact Information

For questions, data requests, or complaints, contact our Data Protection Officer:

Privacy Officer
i Advance (on behalf of iadvance.my)
Email: privacy@iadvance.my
Address: No. 21-1, Jalan Dwitasik, Bandar Sri Permaisuri, 56000 Cheras, Kuala Lumpur
Tel: +6011 1100 9988

Governing Law

This Privacy Policy is governed by the laws of Malaysia, including the PDPA, and all disputes shall be resolved under the jurisdiction of the Malaysian courts.

Loan Application and Approval Policy:

Clearly outline the eligibility criteria for loan applications, including credit score, income requirements, and any specific documentation needed. Describe the process of application submission, review, and approval. Specify the maximum loan amounts, interest rates, and repayment terms. Ensure transparency by explaining how loan decisions are made and the expected timeline for approval or denial.

Interest Rate and Fee Policy:

Detail the methodology for determining interest rates based on factors like creditworthiness, loan type, and market conditions. Clarify any additional fees or charges, such as origination fees or prepayment penalties. Provide examples and scenarios to help borrowers understand the total cost of borrowing. Emphasize transparency and compliance with usury laws or consumer protection regulations

Privacy and Data Security Policy:

Address how customer data will be collected, stored, processed, and protected in compliance with relevant data protection laws (e.g., GDPR or CCPA). Describe measures taken to ensure data security, such as encryption and regular security audits. Outline how customer data will be used, shared (if applicable), and how customers can access or modify their information.

Repayment and Default Policy:

Clearly explain the repayment options available to borrowers, including automatic deductions, manual payments, and payment schedules. Outline the consequences of missed or late payments, including potential late fees and impact on credit scores. Describe the steps taken in case of loan default, such as collections processes, potential legal actions, and implications for future borrowing.

Customer Service and Complaint Resolution Policy:

Define the channels and methods through which customers can seek assistance, ask questions, or make complaints. Establish a dedicated customer support team and provide contact information. Describe the process for addressing and resolving customer complaints, including timelines for response and resolution. Highlight your commitment to excellent customer service.