This Privacy Policy (“Policy”) explains how White Wizard Technologies Private Limited a company registered under the Companies Act, 2013 and having its registered office at Plot No. 23, Sector 18, HSIDC Maruti Industrial Area, Gurgaon, Haryana (122015) (brand name “Velocity”, “we”, “us”, “our”) collects, uses, stores and safeguards your personal information when you interact with our website https://www.velocity.in and the associated mobile/ web-based digital-lending application (together, the “Platform”). Please read this Policy carefully. By continuing to browse or use the Platform you consent to the practices described here. If you do not agree, you may choose not to use our services. Access to and use of the Platform are always subject to this Policy and our Terms and Conditions.
Through the Platform you can apply for loans that are originated and serviced by banks and non-banking financial companies regulated by the Reserve Bank of India (our “Lending Partners”). In order to make these services possible we need to collect and process certain personal and sensitive personal information about you, always with your knowledge and consent. We are committed to handling your data responsibly, keeping it secure, and giving you clear choices about how itis used. This Policy sets out, in plain language, what information we collect, why we collect it, how we protect it, when we may share it, and the rights you have over your data.
We may collect personal information that you voluntarily provide to us or that we access with your consent when you use our platform.
“Personal Information” refers to any information that identifies or can be used to identify an individual.
“Sensitive Personal Information” includes personal information that, due to its nature, requires more protection, such as financial records, biometric data, or any detail that, if misused, could result in harm, discrimination, or serious intrusion into a person’s privacy.
We may collect, store, use, disclose, transfer, and process your Personal Information and Sensitive Personal Information, including but not limited to:
(i) Contact Information: Full name, user ID, permanent and current address, email address, mobile number, city of residence, and PIN code.
(ii) Identification Information: PAN, Aadhaar, passport details, voter ID, date of birth, photograph, and any other government-issued identity documentation.
(iii) Financial Information: Income details, employment information, bank account number, salary slips, bank statements, E-mandate/ENACH data, credit/debit card details, UPI ID, NEFT/IMPS details, and other payment-related information.
(iv) Demographic Information: Age, gender, nationality, and religion.
(v) Credit Information: Credit reports, credit score, repayment history, credit enquiries, defaults, and any records relevant to creditworthiness including bankruptcy or litigation data.
(vi) Transactional Information: Mode of payment, transaction amount, product/service availed, payment gateway ID, and any other transactional metadata shared by third-party banks, merchants or payment partners.
(vii) Usage and Device Information: IP address, MAC address, domain server, interaction with the app/website, device type, app versions, configuration, brand, operating system, features used, geolocation data, and analytics identifiers.
(viii) Marketing and Communication Records: Communication history with customer service (emails, call recordings, chat logs), preferences regarding offers, promotions, surveys, and any records related to subscription/unsubscription from marketing content.
(ix) Phone Data: With your express consent, we may access camera, microphone, location and SMS data (non-personal, limited to bank or transaction alerts) solely for purposes such as e-KYC and fraud prevention. We do not access your contact list, photo gallery or personal messages.
(x) Cookies: We use technical and statistical cookies to ensure basic functionality of our website and app. These include session cookies (to maintain login), technical cookies (to store app preferences), and analytics cookies (to improve user experience). We do not use cookies for ad targeting unless you opt in.
(xi) Any other information you voluntarily share while using our platform or services.
We obtain your explicit consent wherever required, particularly for any access to any Sensitive Personal Information. If you link your Velocity account with any third-party platform, you authorise us to access information from that platform in accordance with this Privacy Policy.
Please be cautious while accessing third-party links or tools. Information you share with such external sites will be governed by their respective privacy policies, not ours.
We collect Personal Information directly from you when you use our platform, apply for a loan, submit KYC or financial documents, or communicate with us. This includes information submitted through online forms, document uploads, eKYC journeys, chats, calls, or emails.
We also collect certain information automatically when you access or use our website or mobile application. This includes technical and usage data such as device identifiers, browser information, IP address, geolocation data, and interaction logs, which help us maintain platform security and improve your user experience.
In some cases, we obtain information from third-party sources such as credit bureaus, KYC repositories, payment partners, banks, and service providers who support us in verifying your identity or assessing creditworthiness. Such access is always based on your prior consent or authorisation.
We may also collect information from publicly available records, regulatory filings, or platforms you link with your Velocity account (e.g., GST, ITR, or accounting software), as authorised by you.
Access to any sensitive permissions on your device such as camera, microphone, location or SMS, is strictly based on your explicit one-time consent and may be used only for the stated purpose (such as KYC verification or fraud prevention). These permissions are revoked immediately after the relevant activity is completed.
We collect and process your Personal Information and Sensitive Personal Information for the following specific purposes:
(i) To assess loan eligibility and creditworthiness: We use your financial data, credit history, income details, and identification information to evaluate your ability to repay the loan. This helps us determine the loan amount, interest rate, and repayment terms best suited for you and your business.
(ii) To verify your identity and conduct KYC: Your identification documents, address proof, facial image, and demographic details are used to complete video-KYC or eKYC processes in compliance with applicable RBI and regulatory guidelines.
(iii) To process and disburse the loan: Once approved, we use your bank account details, UPI ID, or mandate credentials to initiate disbursement of funds from our Lending Partners into your designated account.
(iv) To manage and collect repayments: Your repayment data, transaction history, and payment preferences are used to generate EMI schedules, send repayment reminders, auto-debit instalments, and resolve any payment issues. This includes using NACH, UPI, or any other authorised digital payment mechanism.
(v) To maintain your account and provide support: We use your contact details and communication history to resolve queries, process complaints, respond to support tickets, and provide any assistance you may need throughout the loan lifecycle.
(vi) To comply with legal and regulatory obligations: We may retain and share your data with statutory authorities, regulators, credit bureaus, and our Lending Partners for reporting, audit, fraud monitoring, or legal compliance purposes.
(vii) To detect and prevent fraud or unauthorised activity: We analyse behavioural patterns, device information, geolocation, and interaction logs to ensure the integrity of our platform and detect any misuse, impersonation, or suspicious activity.
(viii) To personalise and improve our services: We use your usage data, device information, and feedback to improve platform functionality, enhance the user experience, and develop new features relevant to your business needs.
(ix) To communicate with you: We send emails, push notifications, SMS or WhatsApp updates regarding your loan status, payment alerts, product changes, privacy policy updates, or marketing campaigns, as per your communication preferences.
(x) To enforce legal rights and protect interests: We may use your information to initiate or defend legal proceedings, recover outstanding dues, enforce contracts, or comply with directions from courts, government authorities, or financial institutions.
We do not sell or rent your Personal Information. However, we may share your Personal Information and Sensitive Personal Information, with trusted third parties strictly on a need-to-know basis and for lawful, limited purposes as described below:
(i) With Lending Partners (Banks/NBFCs): Since Velocity acts as a Lending Service Provider (LSP), we share your application data, KYC documents, credit reports, financial statements, repayment history, and other relevant details with our Lending Partners who are the actual lenders disbursing and servicing your loan. This is necessary to provide services incidental to underwriting, process, disburse and manage your loan.
(ii) With KYC verification and authentication agencies: We may share your identification details, photograph, video, Aadhaar, and other KYC documents with authorised KYC solution providers, registered authentication agencies or government-authorised systems to complete identity verification or address validation.
(iii) With credit bureaus and financial information providers: We may submit your credit behaviour, repayment records, and outstanding status to authorised Credit Information Companies (such as CIBIL,CRIF, Experian or Equifax), and fetch your credit reports to evaluate your application, monitor delinquencies, or comply with regulatory reporting obligations.
(iv) With payment and collection service providers: Your UPI credentials, mandate set-up details, bank account info, and transactional metadata may be shared with RBI-regulated payment aggregators, escrow managers, collection agents or auto-debit platforms for enabling smooth disbursement and recovery of loan amounts.
(v) With technology and analytics partners: Data such as device type, app usage, session data, crash logs or behavioural patterns may be shared with backend infrastructure providers, cloud hosting services, data analytics vendors, or fraud detection tools to improve platform stability and service efficiency.
(vi) With customer service platforms and communication providers: To provide timely updates and assistance, your contact information and interaction history may be shared with third-party customer support tools, email service providers, SMS gateways, or notification partners.
(vii) With statutory and regulatory authorities: We may disclose your information when required by law, regulation, court order, or government direction. This includes responding to notices from law enforcement, financial regulators, or tax authorities.
(viii) With professional advisers and legal counsel: In the course of audits, dispute resolution, or enforcement of legal rights, we may share all relevant information with auditors, legal advisors, debt recovery agents, or authorised representatives acting on our behalf.
(ix) In case of business transfer or restructuring: If we are ever involved in a merger, acquisition, sale of assets, corporate restructuring or insolvency proceeding, your information may be transferred to the successor entity or acquiring party, subject to confidentiality obligations and prior intimation.
We ensure that all third-party recipients of your information are bound by strict contractual obligations to maintain confidentiality, use the information only for the intended purpose, and comply with applicable data protection laws.
We take the security and privacy of your Personal Information, and Sensitive Personal Information seriously. All information collected from you is stored in accordance with applicable laws and industry best practices.
(i) Data storage and localisation: All your information, including KYC records, credit information, financial statements, and device metadata is stored exclusively on secure servers located within India. If any part of the processing infrastructure (e.g., cloud services or technical integrations) temporarily mirrors or routes data through systems outside India, we ensure that no data is retained abroad and that all copies are erased from overseas systems within a defined timeframe. We do not transfer your Personal or Sensitive Personal Information to any country unless explicitly permitted by law or with your consent.
(ii) Data encryption and protection: We implement strong technical and organisational measures to protect your information from unauthorised access, accidental loss, alteration, or disclosure. These include encryption at rest and in transit, firewalls, multi-factor authentication, and access restrictions based on role and necessity. Data shared with Lending Partners or service providers is done through secure and authenticated channels with appropriate encryption protocols.
(iii) Data retention: We retain your information only for as long as necessary to fulfil the purpose for which it was collected, or as required under applicable laws and regulatory obligations. This may include, for example, maintaining records for audit, legal defence, tax reporting, or fraud monitoring. Some data, such as repayment history or credit behaviour, may be retained beyond the loan closure to comply with obligations under the Credit Information Companies Regulation Act and RBI norms.
(iv) Data deletion and archival: Upon completion of the retention period, or if you withdraw your consent (subject to legal limitations), your information will be securely deleted or anonymised. In certain cases, where we are legally required to retain limited transactional or KYC data (such as for anti-money laundering or audit purposes), your data maybe archived in an access-restricted environment until the end of the retention mandate.
We are committed to giving you clear and actionable control over your Personal Information and Sensitive Personal Information. Depending on the nature of your relationship with us, and subject to applicable laws, you may exercise the following rights:
(i) Right to access your information: You have the right to request a summary of the Personal Information and Sensitive Personal Information that we hold about you, including the purpose for which it was collected, how it is being used, and with whom it has been shared.
(ii) Right to correction: If you believe that any of the information we hold about you is inaccurate, incomplete, or outdated, you may request that it be updated or corrected. We may ask for supporting documentation to validate your correction request.
(iii) Right to withdraw consent: You have the right to withdraw your consent at any time where we rely on it to collect or process your information, for example, access to your camera, location, or SMS for KYC or verification purposes. However, withdrawal of consent does not affect the lawfulness of any processing carried out prior to such withdrawal. Further, if you have an active loan, any outstanding dues, or are involved in an ongoing dispute, investigation, or legal proceeding related to the loan or services availed through the Platform, we may continue to retain and process your information, even after you withdraw consent to the extent necessary to enforce our contractual rights, comply with applicable laws, or protect our legitimate legal interests.
(iv) Right to erasure/deletion: Once your loan is repaid in full and all legal or regulatory retention obligations have lapsed, you may request that we delete or anonymise your Personal Information and Sensitive Personal Information. We will comply with such requests unless retention is required to comply with applicable laws, resolve disputes, enforce our agreements, or prevent fraud.
(v) Right to file a grievance: If you believe that your rights have been violated or your data is being processed in a manner not consistent with this Privacy Policy, you can raise a grievance with our designated Grievance Officer.
(vi) Right to be informed: You have the right to be informed about what Personal Information we collect, how we process it, and any changes to this Privacy Policy. We will notify you of material updates through email, in-app alerts or other available communication channels.
We believe in transparency and user control over personal data. Wherever required, we seek your free, informed, specific, and unambiguous consent before collecting or processing your Personal Information or Sensitive Personal Information. The manner in which we obtain, record, and manage consent is consistent with the principles laid out under applicable Indian data protection and lending regulations.
Consent is obtained at relevant stages of your interaction with us. In each such case, we provide a clear explanation of the purpose for which your data is being collected and processed. You have the right to accept or decline the consent request at your discretion, and we maintain auditable records of the consents you have granted or withdrawn.
Where consent is declined or later withdrawn, we will limit processing to the extent legally permissible and inform you of any impact on services (such as inability to proceed with the loan application or access certain features).
For device-level permissions (camera, microphone, location, etc.), you may revoke access anytime from your device settings. For marketing preferences, you may opt out by clicking the unsubscribe link in any communication or by contacting us directly.
Please note that certain categories of data, such as those required for servicing an active loan or fulfilling a regulatory obligation may continue to be processed even without fresh consent, as permitted under applicable laws.
We are committed to protecting your personal and business information and have implemented appropriate security measures to safeguard it against unauthorised access, misuse, or disclosure. We follow industry-standard practices for data protection and ensure that our systems, processes, and service providers adhere to applicable laws and reasonable security standards.
Access to your information is restricted to authorised personnel and partners who are required to maintain confidentiality. We also take steps to regularly review and improve our security framework to address evolving risks.
While we take all reasonable precautions to protect your data, no system is entirely immune to risks. If we become aware of any data breach that may affect your rights or privacy, we will notify you in accordance with applicable laws and take prompt action to address the issue.
If you have any concerns or complaints related to data privacy, you may contact our designated Grievance Redressal Officer using the details below:
Grievance Redressal Officer
Name: Mr. Saurav Swaroop
Email: saurav@velocity.in
We may update this Privacy Policy from time to time to reflect changes in legal requirements, regulatory guidance, our internal practices, or the features and functionality of our platform. When we make material changes to the Policy, we will notify you by updating the “Last Updated” date at the top of this page and, where appropriate, by providing a prominent notice through email, SMS, or in-app notifications.
