Fair Loans Foundation (https://fairloansfoundation.com.au/) is committed to utmost security of our customers.
The information is collected as per legal, statutory and contractual obligations. The users intending to utilize our products are services that are mandatorily required to furnish this information. Only the required information is collected and transferred to our partners as specified in the notice. We refrain from requesting unnecessary information from the user.
The “personal information” refers to any information either direct or indirect that helps in identifying the individual “user” refers to the website visitors who are accessing the website for the products and services. The following information is collected from the users
Methods of information collection
Online application form: This is the major source of personal information giving details about name, address, contact details, gender, nationality, marital status, etc. The form may also require you to furnish bank details.
Automatic Information: Your IP address, geolocation, browser type, clicking behavior is collected when you visit the website. The information collected is for functional and analytical purposes. You might have seen a pop-up about cookies while visiting the website, cookies are small text files that are saved on the device. Cookies are of different types, functional cookies, analytical cookies, static cookies, commercial cookies, and marketing cookies.
In case you do not want the information from cookies to store, you can set browser settings accordingly. If you intend not to utilize cookies, then the information may not be displayed to the visitor. Google analytics are required to get information about the visitor’s device and behavior.
How Do We Use Your Personal Data?
Fair Loans Foundation is committed to ensure the privacy of its user and retain the data for a period necessary and as mentioned in this notice. The personal data is kept confidential and we take proper technical steps to ensure its safety. The information is processed considering the legal obligations and as per the national and European Union laws (GDPR). An individual’s rights as per GDPR are applicable and can be exercised when required.
The access to the website and personalized services is given through definite credentials by setting up an account on our website. The username and password generated should not be shared with any third for safety and security reasons. When creating an account, you will be giving consent to provide information about marketing and promotional offers. You have the option to opt-out of it any time. The General Data Protection Regulation (GDPR) principles are followed when processing personal information. The GDPR principles are as follows
Purpose of Personal Data:
Fair Loans Foundation requests personal information on the purpose and has a legal basis to do. We are transparent in our policies and procedures. Here are the reasons for collecting information
Apart from the above details, bank information is also required to process a loan. The funds' transfers are done on the provided bank details.
Fair Loans Foundation has a legal obligation to share your data with lenders to check for frauds and financial background before giving a nod for loan approval. The personal information also enables us to send you marketing information highlighting products and services for the mutual benefit of both customers and the company. The information is provided upon consent and legitimate interest.
As the individual is providing personal information, he or she holds the right to have access to his information and the right to know where the personal information is being utilized. The user may request the following information from Fair Loans Foundation.
The user also retains the right to add, complete or rectify personal details in case of any discrepancies. Fair Loans Foundation will immediately swing into action to complete or correct your information with us. If the requested personal information is not being incorporated the reason for not doing so will be explained and the information will not be updated.
The user also reserves the right to request for the deletion of personal information or restrict the processing of personal information as per data protection laws. The user also holds the right to object for direct marketing. If you want to “Opt-Out” from the marketing, you can visit the website and fill the required details to stop getting further marketing communications. Under certain circumstances, the user can request for data portability and information about automated decision-making.
Upon receiving any request, Fair Loans Foundation is obligated to verify your identity and after verification, your request will be acted upon. This is to ensure your privacy and security.
The GDPR provides the following rights for individuals:
The individual holds the right to exercise all the above rights (terms and conditions apply)
Sharing Your Personal Information
The personal information is collected with the personal consent and the information is shared with the partners to check the eligibility for the loan. All the information gathered will be utilized for the purpose as specified or legal requirements. The details provided will be shared with the lenders to approve the loan. Other than this the required information is not shared with any of the partners.
Security of Personal Information
Not Sharing Personal Information:
Fair Loans Foundation cannot process your application without personal information. It is the interest of the user to furnish or not to furnish the information. Your requests cannot be processed with the lender without personal information.
Fair Loans Foundation retains the right to process your personal information under the Legitimate Interests’ Assessment (LIA) considering the risk-benefit ratio. The users' interests and risks along with the company’s interest are considered before sharing personal information. Based on the legitimate interests, personal information is shared with the lenders. The information includes complete name, age along with the date of birth, nationality, marital status, bank details, and financial information. The information shared with their legitimate business interests is utilized for analysis of the application, frauds, market analysis, customer demographics or to customize a plan for an individual. The partners with whom the information will be shared includes
Personal Data Retention:
Fair Loans Foundation retains the personal data for a minimum of 6 years as per local laws. The personal information stored includes (complete name, address, phone number, and other necessary information). The user while furnishing the data has given consents to use it for the direct market. The company holds the right to retain the data unless the user withdraws its consent or notify in writing for the deletion of the information. Fair Loans Foundation follows a strict policy for the safety of the person to meet the legal obligations.
Fair Loans Foundation requests minimum basic information about the users for definite reasons, to identify the user and to be compliant legally. The products and services offered by the company are for age-restricted people and hence it becomes a legal obligation for the company to offer its products and services only to a certain age group. The user is mandatorily required to furnish the requirement to process his request.