Who We Are

LoanBit is a cloud-based loan management platform operated by PlainQode Software Limited, a limited liability company registered in Jamaica. In this Privacy Policy, "LoanBit", "we", "us", and "our" refer to PlainQode Software Limited. For privacy-related enquiries, contact us at privacy@loanbit.io.

Two Roles: Controller and Processor

LoanBit serves lending organizations — credit unions, microfinance institutions, private lenders, and similar businesses — by providing software tools to manage their loan portfolios. This creates two distinct privacy relationships.

For platform account holders (individuals who create and use a LoanBit account), PlainQode Software Limited is the data controller and decides how your account data is processed.

For borrower and client data uploaded and managed by lending organizations, PlainQode Software Limited acts as a data processor on behalf of that lending organization, which is the data controller. We process borrower data strictly as directed by the lending organization and do not use it for our own purposes. If you are a borrower whose data is held via LoanBit, your data rights requests should be directed to the lending organization that manages your records.

Data We Collect About Platform Users

When you create and use a LoanBit account, we collect:

Your full name and email address
Your organization name and subscription plan
Account preferences such as your language, timezone, and locale
Authentication session data managed by our authentication provider, including session tokens and last sign-in timestamps
Technical data collected automatically during platform use, including IP address, browser type, and general usage patterns

Borrower and Client Data We Process on Behalf of Lenders

When lending organizations use LoanBit to manage their borrowers, they upload and control detailed personal and financial records. The data we store on their behalf may include borrower names, dates of birth, gender, national identity document details, residential and mailing addresses, phone numbers, email addresses, employment and income information, bank account details, existing loan obligations, assets, monthly expenses, next-of-kin details, and uploaded documents such as identity documents, payslips, and bank statements.

We also store financial records including loan amounts, repayment schedules, payment history, collateral descriptions, and guarantor details.

This data is processed solely to operate the platform on behalf of the lending organization. We do not independently use, analyze, or share it for any other purpose.

How We Use Platform Account Data

We use platform account information to:

Provide, operate, and maintain the LoanBit platform
Authenticate your identity and maintain session security
Send service notices, account updates, and support responses
Process your subscription and billing through our payment provider
Detect and prevent unauthorized access and fraudulent activity
Comply with applicable legal obligations

AI-Assisted Risk Features

LoanBit includes AI risk scoring and anomaly detection features. When the optional AI enhancement is enabled on eligible plans, anonymized and aggregated financial statistics are sent to an external AI API for processing — for example, loan-to-income ratios, repayment percentages, account age, and prior default indicators (as a boolean, no detail). No personally identifiable information — including names, national identity numbers, addresses, phone numbers, or email addresses — is ever included in these requests.

Third-Party Service Providers

We use the following third-party providers to operate the platform:

Vercel (European Union) — platform hosting and edge delivery. Vercel serves the LoanBit application and may process request metadata such as IP addresses and access logs.
Supabase (European Union) — authentication, database, and file storage. All platform and borrower data is stored on Supabase infrastructure in EU data centres.
Stripe (European Union) — subscription billing. Billing data is stored in EU data centres. Stripe processes payment details on our behalf; we store only a customer reference identifier and no card numbers are held in LoanBit's systems.
Resend (European Union) — transactional email delivery, including account invitations, password resets, subscription notices, and data export notifications. Email delivery infrastructure is EU-hosted.
Sentry (European Union) — application error monitoring and performance tracking. All visible text content in the platform is masked before leaving your browser; no personal or borrower data is included in Sentry reports. Error data is stored in EU data centres.
Inngest (United States) — background job processing. Event metadata such as tenant and entity identifiers is transmitted to schedule background tasks. Inngest does not offer EU data residency.
OpenAI (United States) — optional AI risk score enhancement on eligible plans. Only anonymized financial statistics are transmitted; no personally identifiable information is sent. OpenAI does not offer selectable data residency.
Google (United States) — address autocomplete during borrower registration. Address text entered by platform users is sent to the Google Maps API to generate suggestions.

We do not sell personal data to third parties and do not use personal data for advertising or marketing purposes.

International Data Transfers

PlainQode Software Limited is registered in Jamaica. We have configured our primary infrastructure providers — Vercel, Supabase, Stripe, Resend, and Sentry — to store and process data within the European Union. This means personal data submitted to the LoanBit platform is primarily stored in EU data centres.

Certain providers do not offer EU data residency: Inngest (background job processing) operates in the United States, OpenAI (optional AI enhancement) operates in the United States, and Google Maps (address autocomplete) operates globally. For these services, only the minimum necessary data is transmitted — no personally identifiable information is sent to OpenAI or Inngest, and only user-typed address text is sent to Google Maps.

We only work with providers that maintain appropriate security and data protection standards, including standard contractual clauses where applicable.

Data Retention

Platform account and organizational data is retained while your subscription remains active. When you close your account, a 30-day grace period begins during which all your data remains available for export. After this period, all data associated with your organization — including client records, loan history, uploaded documents, and audit logs — is permanently and irreversibly deleted from our systems.

Data export files are temporarily stored in secure private storage and expire shortly after being downloaded.

Your Rights

Depending on applicable law, you may have the right to:

Access the personal data we hold about you
Correct inaccurate or incomplete data
Request deletion of your account and associated data
Receive a portable copy of your data
Object to or restrict certain processing activities

To exercise any of these rights as a platform account holder, contact us at privacy@loanbit.io. We will respond within 30 days.

If you are a borrower, contact the lending organization that manages your data — they are the data controller for your records.

Security

LoanBit implements a range of security controls including:

Encrypted connections (TLS) for all data in transit
Row-level security and strict tenant isolation at the database level
HttpOnly session cookies with automatic rotation
Role-based access controls with least-privilege defaults
Masking of all visible text content in error monitoring tooling
Immutable, tamper-protected audit logs

No system can guarantee absolute security. Please keep your login credentials secure and report suspected vulnerabilities to security@loanbit.io.

Cookies

We use cookies only where strictly necessary for platform operation. See our Cookie Policy for full details.

Children

LoanBit is a business-to-business platform not intended for anyone under 18 years of age. We do not knowingly collect personal data from minors.

Changes to This Policy

We may update this Privacy Policy from time to time. When we make material changes, we will notify account holders by email and update the date shown at the top of this page. Continued use of the platform after the effective date constitutes acceptance of the revised policy.

Contact

For privacy-related enquiries, contact privacy@loanbit.io.