Data Sharing & Processing Agreement
How your application data is shared with financial institutions and processed by SEED on your behalf.
Data Sharing & Processing Agreement
This Data Sharing & Processing Agreement ("Agreement") describes how SEED Manufacturing and Leasing Company ("SEED", "we", "us") handles the sharing of your personal and business data when you submit an application through the 7Net Finance platform.
1. Purpose of Data Sharing
When you submit a Finance Access Application, SEED will share your data with one or more partner financial institutions solely for the purpose of:
- Evaluating your eligibility for financing
- Conducting credit and risk assessments
- Verifying the authenticity of your submitted documents
- Processing any approved lending arrangements
2. Categories of Data Shared
| Category | Recipients | Purpose |
|---|---|---|
| Personal identity data | Partner banks & microfinance institutions | Identity verification & KYC compliance |
| Business registration data | Partner financial institutions | Business legitimacy verification |
| Financial statements & records | Partner financial institutions & credit bureaus | Credit risk assessment |
| Uploaded documents | Partner financial institutions | Due diligence |
| Application metadata | SEED internal systems | Platform analytics & fraud prevention |
3. Partner Financial Institutions
SEED works with a curated network of licensed financial institutions regulated by the National Bank of Ethiopia (NBE). All partner institutions are bound by:
- Ethiopian financial regulations
- Data confidentiality obligations under their own licensing agreements
- Contractual data processing agreements with SEED
4. Data Minimisation
SEED shares only the minimum data necessary for the assessment of your application. We do not share your data for marketing or commercial purposes unrelated to your application.
5. Retention by Financial Institutions
Partner financial institutions may retain your data independently in accordance with their own legal and regulatory obligations. Their data practices are governed by their respective privacy policies.
6. Cross-Border Data Transfers
Where partner financial institutions or technical service providers are located outside Ethiopia, appropriate safeguards (such as contractual data transfer agreements) are in place to protect your data in compliance with applicable regulations.
7. Your Rights
You have the right to:
- Understand which institutions your data has been shared with
- Request a summary of the data shared
- Object to specific data sharing (note: this may affect the processing of your application)
To exercise these rights, contact privacy@seedleasing.et.
8. Consent
By submitting a Finance Access Application, you explicitly consent to the sharing of your application data as described in this Agreement. This consent may be withdrawn at any time by contacting us, subject to the limitations noted in Section 7 above and our Finance Application Terms.
9. Updates to This Agreement
SEED may update this Agreement to reflect regulatory changes or changes in its partner network. Updates will be communicated via the platform and/or email.
10. Contact
For queries regarding data sharing:
SEED Data Protection Officer Email: privacy@seedleasing.et Phone: +251 (0) 11 XXX XXXX
Last updated: January 1, 2025