You may have heard of the Tala app before.
Tala is a popular mobile app in Kenya that provides quick loans to individuals with little to no credit history.
Millions of Kenyans have benefitted from the platform for years.
However, some users have raised concerns about the app’s privacy practices.
The question of whether or not Tala accesses and uses the contacts stored on users’ phones is not uncommon.
How Tala Verifies Your Creditworthiness
You must understand how Tala verifies your identities to clear up any confusion.
When you apply for a loan through the app, you must provide personal information such as your name, phone number, and ID number.
Tala also uses a proprietary algorithm to assess your creditworthiness.
They base this on data from your phone, such as your call and text history.
Are Your Contacts Secure With Tala?
While the app does not explicitly ask permission to access your contacts, Tala could access the contacts on your phone as part of its algorithm.
However, the company has stated that it does not share or sell this information to third parties.
You will find this on the terms and conditions you must agree to work with when applying for loan from Tala.
With the need for a secure and better transaction, Tala has implemented various security measures to protect users’ personal information.
These include using encrypted servers to store data and regularly updating the app to fix potential vulnerabilities.
So, if you have been worrying about how they use your contacts, rest assured that all your personal information is safe.
Be Aware Of the Privacy Terms
Asking for a loan is like signing a contract.
Yes. And it even applies to online loan apps like Tala.
You must accept to read and understand all the terms and conditions.
It would help if you never overlooked any app’s privacy policies.
It is a recommended measure to protect your personal information.
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