Privacy Policy
1. Who are we?
1.1 P&J Moore Limited – trading as Faster Finance. We are a tech company providing digital marketing services to our global client base. Our processing is based primarily on the use of publicly available data to identify sales prospects for our clients. As such, your privacy is important to us, we take our responsibilities seriously and will always respond quickly and courteously to any request. You can contact us using the details below:
By email: [email protected]
By telephone on: 0203 997 2600
or
By post to: Create Business Hub, Ground Floor, 5 Rayleigh Road, Hutton, Brentwood, England, CM13 1AB
2. Our GDPR Policy
2.1. We are committed to safeguarding the privacy and accuracy of the personal data of our website visitors, service users and email recipients.
2.2. This policy applies where we are acting as a Controller with respect to the personal data of our website visitors, service users, email recipients and personal data collected from public sources; in other words, where we determine the purposes and means of the processing of that personal data.
2.3. This policy also applies where we determine the purpose and means of the processing jointly with our clients and other companies, or where we are acting as a Processor, working on behalf of our clients to process data as required by them. In this policy, “We”, “Us” and “Our” refer to P&J Moore Limited – trading as Faster Finance.
2.4. Any reference to a Data Subject means a natural person whose personal data is processed by us as a Data Controller, Joint Controller or as a Data Processor, in other words, you.
2.5. Any reference to the GDPR applies to both the UK GDPR and EU GDPR. Likewise, any reference to EU countries will also apply to the UK. This will remain the case so long as the UK is subject to an adequacy decision by the EU. Should there be a conflict between the two, the version that grants data subjects the greatest protection will apply.
3. How We Use Your personal data
We want to be clear with you about how we use your data, so in this section we talk about the general categories of personal data that we may process and, in the case of personal data that we did not obtain directly from you, we’ll tell you where we got your data and the purposes for which we may process your data; finally, and very importantly, we’ll explain the legal bases of the processing which applies to us and you.
The General Categories of Personal Data That We May Process:
3.1. Usage Data. We may process data about your use of our website and services (“Usage Data”). The Usage Data may include your IP address, geographical location, browser type and version, operating system, referral source, length of visit, page views and website navigation paths, as well as information about the timing, frequency and pattern of your service use. The source of the Usage Data is Google Analytics as well as our analytics tracking system. This Usage Data may be processed for the purposes of analysing the use of the website and services. The legal basis for this processing is our legitimate interests, namely monitoring and improving our website and services, and tailoring any communication with you. We, of course, use this data to help us run our business as well as we can.
3.2. Account Data. We may process your Account Data (“Account Data”). The Account Data may include your name, email address, company information, and other contact and other related information we may collect about you. The source of the Account Data is generally you or your employer. The Account Data may be processed for the purposes of providing our services, ensuring the security of our website and services, maintaining back-ups of our databases and communicating with you. The legal basis for this processing is the performance of a contract between you and us [or your employer] and/or taking steps, at your request, to enter into such a contract. In some cases, we may also rely on Legitimate Interest as our lawful basis where we use your data for marketing purposes or in order to operate our business and improve our services.
3.3. Service Data. We may process your personal data that are provided in the course of the use of our services (“Service Data”). The Service Data may include name, email address, telephone number, and other related information. The source of the Service Data is you or your employer. The Service Data may be processed for the purposes of providing our services and communicating with you. The legal basis for this processing is the performance of a contract between you and us and/or taking steps, at your request, to enter into such a contract.
3.4. Enquiry Data. We may process information contained in any enquiry you submit to us regarding goods and/or services (“Enquiry Data”). The Enquiry Data may be processed for the purposes of us offering, marketing and selling relevant goods and/or services to you. The legal basis for this processing is consent, which may be withdrawn by you at any time by contacting us, or contract and/or legitimate interest where your requests represent an invitation to send you information about our services.
3.5. Notification Data. We may process information that you provide to us for the purpose of subscribing to our email notifications and/or newsletters (“Notification Data”). The Notification Data may be processed for the purposes of sending you the relevant notifications and/or newsletters. The legal basis for this processing is consent, which may be withdrawn by you at any time by contacting us.
3.6. Correspondence Data. We may process information contained in or relating to any communication that you send to us (“Correspondence Data”). The Correspondence Data may include your name, email address and the communication content and metadata associated with the communication. Our website will generate the metadata associated with communications made using the website contact forms. The Correspondence Data may be processed for the purposes of communicating with you and record-keeping. The legal basis for this processing is our legitimate interests, namely the proper administration of our website, business and communications with users.
3.7. Public Data. We may process information found on public social networking profiles and other from other publicly available sources (“Public Data”). This data may include name, employment information, career information. education details, job title, and other relevant information. Public Data may be processed for the purposes of offering, marketing and selling relevant goods and/or services to you and/or your employer. The legal basis for this processing is our legitimate interests, namely the administration of our business, to develop our business, and in order for us to make a profit.
3.8. Legal Claims Data. We may process any of your personal data identified in this policy where necessary for the establishment, exercise or defence of legal claims, whether in court proceedings or in an administrative or out-of-court procedure (“Legal Claims Data”). The legal basis for this processing is our legitimate interests, namely the protection and assertion of our legal rights, your legal rights and the legal rights of others.
3.9. Professional Use Data. We may process any of your personal data identified in this policy where necessary for the purposes of obtaining or maintaining insurance coverage, managing risks, or obtaining professional advice (“Professional Use Data”). The legal basis for processing Professional Use Data is our legitimate interests, namely the proper protection of our business against risks.
3.10. Third Party Data. We may process any of your personal data where we purchase this data from a third party. This includes name, address, email, phone number, other contact details, employment details etc. Where we purchase data, we will ensure that the supplier has the appropriate lawful basis in place and is GDPR compliant. We will also ensure that we have appropriate evidence of consent where necessary or have an alternative appropriate lawful basis and GDPR compliance processes in place to allow us to use your data.
In addition to the specific purposes for which we may process your personal data set out in this Section, we may also process any of your personal data where such processing is necessary for compliance with a legal obligation to which we are subject, or in order to protect your vital interests or the vital interests of another natural person.
4. Our Legitimate Interest
Our lawful bases for processing include our Legitimate Interest to process your data. In this regard, we have carefully considered your rights and expectations of privacy and our rights, alongside the rights of our clients, to run our business. We have considered the impact on your privacy as a result of our processing of your data and completed a balancing assessment to consider the impact on the data subjects involved and also completed a Data Protection Impact Assessment to ensure we take appropriate precautions with all data. These Legitimate Interest and Data Protection Impact Assessments helped us ensure that the rights of the data subjects are not unduly impacted and that processing of data in this way is acceptable.
5. Source of your Personal Data
5.1. We use a range of sources to provide our services, including public domain and social media sources. Our approach is based on carefully targeting business contacts with offers that we believe they will be interested in. We carefully select representatives from businesses and then only send relevant offers. Where we source data from other third parties, we will ensure these companies are GDPR compliant and that your rights are at all times protected.
6. Data sharing
6.1. We don’t routinely sell or share your data with other companies other than in order to provide our services to them and to meet our obligations as a company. Faster Finance is a prospecting and lead generation company, where we have collected your data in order to provide our service to our clients, we share your data only with that specific client. Where this is the case, we will respect your right to be informed and ensure that you are given the option to opt-out of marketing at first contact and in all subsequent communications. The privacy policy of our client will include their contact details to ensure you are able to exercise your rights at any time.
6.2. In addition, we may disclose your personal data to any member of our group of companies (this means our subsidiaries, our ultimate holding company and all its subsidiaries, together known as “Group Companies”) insofar as reasonably necessary for the purposes, and on the legal bases, set out in this policy.
6.3. We may disclose your personal data to our insurers and/or professional advisers insofar as reasonably necessary for the purposes of obtaining or maintaining insurance coverage, managing risks, obtaining professional advice, or the establishment, exercise or defence of legal claims, whether in court proceedings or in an administrative or out-of-court procedures.
6.4. We may also disclose your personal data to our suppliers, partners and other carefully managed third parties as required to operate our company and provide our services. Where this is the case, we will always ensure appropriate technical and administrative controls are in place.
6.5. As you would expect, in addition to the specific disclosures of personal data set out above, we may disclose your personal data where such disclosure is necessary for compliance with a binding legal obligation.
7. International transfers of your personal data
7.1. Remember that personal data that you submit for publication through our website or services may be available, via the internet, around the world. We cannot prevent the use (or misuse) of such personal data by others.
7.2. Our website contains links to external websites run by other organisations. This privacy policy applies only to our websites not those external websites that we link to, who will have their own privacy policies. We are not responsible for these external websites and their privacy policies and practices. In addition, if you linked to our website from an external site, we cannot be responsible for the privacy policies and practices of the owners and operators of that external website and recommend that you check the privacy policy of that external site.
8. Retaining and deleting personal data
8.1. This section sets out our data retention policies and procedure, which are designed to help ensure that we comply with our legal obligations in relation to the retention and deletion of personal data. Personal data that we process for any purpose or purposes shall not be kept for longer than is necessary for that purpose or those purposes.
8.1. Notwithstanding the other provisions of this section, we may retain your personal data where such retention is necessary for compliance with a legal obligation to which we are subject, or in order to protect your vital interests or the vital interests of another natural person.
9. Cookies
9.1. By using our website and agreeing to this policy, you consent to our use of cookies, in accordance with the terms of our cookie policy.
10. Automated Processing
10.1. We may use automated processing and decision making to verify your contact details and to determine whether to contact you as part of a prospecting campaign on behalf of our clients. This decision making is simply used to determine whether the campaign is likely to be of interest to you and to verify your contact details.
11. The Rights of data subjects
11.1. In this section we have summarised the rights that you have under data protection law. Some of the rights are complex, and not all of the details have been included in our summaries. Accordingly, you should read the relevant laws and guidance from the regulatory authorities for a full explanation of these rights.
11.2. Your principal rights under data protection law are:
11.2.1. The right to be informed
11.2.2. The right to access
11.2.3. The right to rectification
11.2.4. The right to erasure
11.2.5. The right to restrict processing
11.2.6. The right to object to processing
11.2.7. The right to data portability
11.2.8. Rights related to automated decision-making including profiling
11.2.9. The right to complain to a supervisory authority; and
11.2.10. The right to withdraw consent.
11.3. The Right to be Informed. This is the right of Data Subjects to know details regarding the processing of their data and how we acquired their data, this information is included in this Privacy Policy.
11.4. The Right to Access. You have the right to confirm as to whether or not we process your personal data and, where we do, access to the personal data, together with certain additional information. That additional information includes details of the purposes of the processing, the categories of personal data concerned and the recipients of the personal data. Providing the rights and freedoms of others are not affected, we will supply to you a copy of your personal data upon request and within one month of verification of your identity (we may extend the time within which we must provide the information by a further two months if the request is particularly complex, or if there are numerous requests and we will let you know if this is the case). The first copy will be provided free of charge, but additional copies may be subject to a reasonable fee.
11.5. The Right to Rectification. You have the right to have any inaccurate personal data about you rectified and, taking into account the purposes of the processing, to have any incomplete personal data about you completed. If the request is accepted by us, the rectification will be completed within one month (may be extended by us by a further two months if complex). We will use all reasonable endeavours to notify any third party with whom we have shared the data of any rectifications made.
11.6. The Right to Erasure (also known as the “Right to be Forgotten”). In some circumstances you have the right to the erasure of your personal data without undue delay. However, there are exclusions to the right to erasure. We will use all reasonable endeavours to notify any third party with whom we have shared the data of any actioned erasure requests.
11.7. The Right to Restrict Processing. In some circumstances you have the right to restrict the processing of your personal data. Where processing has been restricted, we may continue to store your personal data. However, we will only otherwise process it: with your consent; for the establishment, exercise or defence of legal claims; for the protection of the rights of another natural or legal person; or for reasons of important public interest. We will use all reasonable endeavours to notify any third party with whom we have shared the data of any restriction placed on the processing of your data.
11.8. The Right to Object to Processing. You have the right to object to our processing of your personal data on grounds relating to your particular situation, but only to the extent that the legal basis for the processing is that the processing is necessary for certain tasks. If you make such an objection, we will cease to process the personal information unless we can demonstrate compelling legitimate grounds for the processing which override your interests, rights and freedoms, or if the processing is for the establishment, exercise or defence of legal claims.
11.9. The Right to Data Portability. To the extent that the legal basis for our processing of your personal data is:
a) consent; or
b) that the processing is necessary for the performance of a contract to which you are party or in order to take steps at your request prior to entering into a contract; and
c) such processing is carried out by automated means.
You have the right to receive your personal data from us in a structured, commonly used and machine-readable format. However, this right does not apply where it would adversely affect the rights and freedoms of others.
11.10. Rights related to automated decision-making including profiling. We do not solely use automated decision making (including profiling) when processing your data, automated processing will be used to verify your contact details and determine if the campaign will be of interest to you. You have the right to object to decisions, should they be based purely on automated processing.
11.11. Right to Complain. If you consider that our processing of your personal information infringes data protection laws, you should first contact us. If you are dissatisfied with the outcome, you have a legal right to lodge a complaint with a Supervisory Authority responsible for data protection. You may do so in the EU member state of your habitual residence, your place of work or the place of the alleged infringement.
12. Contacting us concerning the contents of this Privacy Policy
12.1. If Your query relates to this Privacy Policy or should you wish to exercise one of Your Data Protection Rights as a Data Subject, you can contact us in the following ways:
By post to Our registered office
By email at: [email protected]
By telephone on: 0203 997 2600
12.2. If you remain unsatisfied by our response you may complain to the Information Commissioners offices at the following address:
If you remain unsatisfied by our response you may complain to the Information Commissioners offices at the following address:
Information Commissioner’s Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF
or
www.ico.org.uk
13. Amendments to this policy
13.1. We may update this policy from time to time by publishing a new version on our website.
13.2. You should check this page occasionally to ensure you are happy with any changes to this policy.
13.3. We may notify you of changes to this policy by email.
This policy was last updated on 21st June 2023
Faster Finance Limited (10901223)
trades as faster finance, hereinafter referred to “we” or “us”. We act as a broker and not a lender.
“you” means a customer or broker or a partner submitting an application for funding through Faster Finance.
Any queries/comments on this Privacy and Cookies Policy should be referred to our Data Protection Officer (DPO) who will address your queries in respect to your personal information we may hold on you. This will include personal information we collect directly from you, third party we work with or any information we already hold.
The Data Protection Officer is contactable by email on [email protected], by telephone: 0203 997 2600 or by post at Faster Finance Ltd at 27 Cambridge Park, London, England, E11 2PU
.
As soon as Faster Finance Limited collects and uses personal information about you, we become responsible for this information and will be referred as a “data controller” of that personal information.
Your personal information will allow us to identify you. Where we refer to “you” or “your” in this Privacy Policy, we refer to individuals whose information we process and this includes business owners, directors, shareholders, guarantors, mortgagors, co-mortgagors or/and any individuals supplied as part of the application and their financial associates. This will also include any authorised party making the application on behalf of your business.
In addition to informing you about your rights under the DPA 2018 and GDPR, this Privacy Policy also provides an overview of the way we look after your personal data. We will obtain personal information:
- directly from you through our portal or website;
- telephone or email;
- through the course of an agreement either directly from you, your association or with a business supplier/broker authorised to act or share such information on your behalf.
- from third party organisations such as Credit Reference Agencies (CRA) and Fraud Prevention Agencies (FPA);
- data we collate during the life of the relationship between yourself;
- through recording and monitoring your calls;
- by you sharing marketing preferences in respect to our products and services.
This Privacy Policy explains and governs:
What, whose, when and how personal information are collected;How and why we use your personal data and those provided as part of your application; and
When we process your personal information, it will be either to comply with our legal obligations or to perform a contract with you or where we have your consent or for our legitimate business interest. In the course of dealing with your funding request (made directly by yourself or through a broker) or any subsequent agreements you enter into with us or a lender we have introduced you to, we may still collect your personal information.
As a data controller, we commit to protect your data and keep it safe and secure. You will be able to have control over, manage and review your marketing preferences at any time you wish by setting your preferences in your members area or emailing us on [email protected]
You are advised to read this Privacy Policy carefully. By accessing our platform or/and using our website
fasterfinance.co.uk, you confirm that you have had an adequate opportunity to read this Privacy Policy, you understand it and you agree to be bound by its terms. If you have any queries, you can email us at [email protected]
or call us on (+44) 0203 997 2600 but if you do not want to be bound by the terms of use of our website and this Privacy Policy, you must immediately cease use of our website.
This Privacy Policy may be amended from time to time in order to comply with the applicable laws and regulations and to meet our changing business requirements. You are therefore advised to periodically review this Privacy Policy for the latest amendments. By continuing to use our website you are bound by all updates and changes made to it.
In addition to protecting your personal data, we commit to protecting your privacy as required under the law. An explanation on how it works is provided below.
Under DPA 2018, GDPR 2018, we are authorised to use your personal data only if we have an appropriate reason for doing so and this may involve sharing it with third parties, if it is based on one or more of the following:
- Your consent
- Our legal duty
- Fulfilling our contractual obligations; and/or
- Based on our legitimate interest to do so.
A legitimate interest is one of the six bases for processing your personal data under the law. However, we must do so in a lawful, fair and transparent manner. We will rely on legitimate interest only where we have a business or commercial reason to use your personal data. Either we or a third party will need to process your information for the purposes of our (or a third party’s) legitimate interests, provided we have established that those interest are not overridden by your rights and freedom, including your right to have your information protected. Our legitimate interests include ensuring our operations are conducted in an appropriate and efficient manner, responding to requests and enquiries from you or a third party, optimising our website and customer experience and informing you about our products and services.
The other bases we rely on to process your data are “our legal obligations, “your unambiguous consent” “fulfilling our contractual obligations”.
We will rely on our legitimate interest as a basis to process your personal data. The other bases we rely on to process your data are “our legal obligations, “your unambiguous consent” and “fulfilling our contractual obligations”. The purposes for which we process your data are as follows:
- Managing and maintaining of our ongoing relationship with your business.
- Administer the service we provide.
- To enable you to use and interact with the service we provide or the ones provided by lenders we send your information to.
- · Performance of our marketing functions and developing new strategies.
- · Developing and maintaining our relationship, your needs and developing strategies for business growth.
- · Analysis of your use of our products and services and those of our third parties.
- · Managing, developing and testing new products and services and ongoing maintenance of our brand.
- · For ongoing maintenance of our relationships with third party service providers.
- · Complaints Management.
- · Efficient management of the business including day to day operations, corporate governance and audit. For statistical analysis.
- · To fulfil our obligations in the prevention of financial crime including fraud and managing the risk. To keep update our records.
- · To carry out checks and adhere to all laws and regulations. To exercise our rights set out in agreements or contracts or to give you notices under it.
- · To comply with any legal obligation, enforce any agreements to which you are party, protect our rights, property, safety or that of our customers or third parties (for example for protection against fraud and reducing credit risk).
- · With your consent, performing credit checks on applicants, directors, guarantors, partners, shareholders, mortgages, co-mortgages and any linked “financial associates” (i.e. person who may have joint personal financial arrangement such as joint accounts or joint credit applications, which may be your spouse or partner).
- · To share information to third parties.
During your interaction with us, we collect different kinds of personal information on you, your business and your linked associates. Below is a list of all the different types of information we collect:
Application Details that you provide by filling in forms with us. This includes information provided at the time of registering to the use of the portal, website, posting material, requesting further services.
Contact Details – personal, business registered and trading address, the registered and trading address of your business, personal and business phone number supplied and email address of applicants, directors, personal guarantors, partners, mortgagors, co-mortgagors, shareholders and linked associates.
Transactional Details – Information about your financial interests, financial position, repayment history, details about payments to and from your bank account, bank statements you submit to us through our portal or via your authorised representative. Management Information or additional information you provide on your business.
Contractual – Information on the financial products and services we have provided to you.
Location – Location and device data from which you are applying for a loan, i.e. your phone, the IP address on connecting to your internet, the operating system and the browser type.
Technical – Details on the devices and technology you use to apply for a loan with us, browse our website and manage your account.
Communications – Includes all exchanges between yourself and us including letters, emails, face-to-face interactions and telephone conversations (included by way of recorded calls) or through live chats.
Public Records – Details about your business, yourself, your financial associates; details about you that are in public records such as companies house, electoral register; and information about you that is openly available on the internet.
Identification and Verification data – Details about you that are stored in documents in different formats, or copies of them. This could include documents such as your passport, driver’s licence, utility bills or other verification of residential address and may extend to other directors, shareholders, personal guarantors, mortgagors, co-mortgagors and partners and their linked financial associates.
Records – Records of any telephone calls and other communications between you and us.
Consents – Any permissions, consents or marketing preferences that you provide to us.
For us to process your application, we may collect personal information about you and your business in order to provide your business with our products and services:
Applying for a loan through our website via one of our financial brokers, affiliates and other third-party introducers;Speaking to us face to face or on the telephone;Browsing our websites and using webchats;Using emails, letters and sms to communicate with us;Completing our customer surveys or you are participating in any of our competitions or promotions; and when you inform us of your marketing preferences.
In addition to the above, we can also access your personal information from a number of third parties we work with such as third-party brokers, affiliates and other third-party introducers that introduce you to us, credit reference agencies (CRAs), comparison websites, social networks such as Facebook, Twitter and LinkedIn, Land Registry, property search engines, companies house and credit safe, debt recovery agents, external solicitors, market research agents,
and law enforcement agencies.
The different types of data we collect on you and your business in order to provide you with our products and services includes the following:
Applicants’ name and address;Directors, shareholders, partners, personal guarantors, mortgagors, co-mortgagors and linked associates name, date of birth, residential address, ownership status, their credit information and financial commitments;Amount of loan, purpose and term;Location, i.e. IP address;Payment and transaction data as available on your business bank statements;Profile and usage data. This includes the profile you create to identify yourself when you connect to our internet services. It also includes other data about how you use those services. We gather this data from devices you use to connect to those services, such as computers and mobile phones, using cookies and other internet tracking software;Business information including credit information and financial standing.
We may use third parties including our appointed agents and lenders to process your information on our behalf for the purpose of providing our products and services.
We require all the third parties we use to comply strictly with our instruction,
and they should not use your personal information for their own business purposes unless you have unambiguously consented to the use of your personal information in this way.
We will take all the necessary steps required to ensure that any transfer and ongoing processing by those third parties is carried out securely and in accordance with applicable data protection regulation and privacy laws. Examples of the third parties we share your information with are as follows:
Appointed agents of Faster FinanceFinance Providers, i.e lenders to whom you are making an application for finance via us. However, your personal data will only be transferred if you have provided your consent via your appointed representative or broker.Third party trusted partners from whom you may be interested to receive products and services if you have provided your consent;To our suppliers, sub-contractors, and third-party data processors (including payment processors, marketing and data analytics service providers, professional advisers and third parties who provide us with the following services from time to time: identification and fraud check, marketing, technology, document readers, back-up and business continuity);HM Revenue & Customs, regulators, and other authorities;CRAs, namely Equifax, Call Credit and Experian;Fraud prevention agencies namely National Crime AgencyCompanies including partners we have an agreement to co-operate with;Organisations or individuals that introduce you to us via our platform, website.Third party brokers, affiliates and other introducers that introduce leads to us;Organisations or individuals that assist us in market research;Organisations or individuals you ask us to share your data with;If we decide to sell, transfer, assign, merge, acquire other businesses or change group structure, we may share your personal information with other parties that have the required standards of data protection.For audit purposes and to meet obligations to any relevant regulatory authority or taxing authority.
We may make automated decisions based on personal information we hold about your business, yourself, directors, shareholders, personal guarantors and any linked associates. Automated decisions assist us in making decisions which can affect the products, services and pricing.
(i) Approving Credit
We use an automated system to run your application through our initial lending criteria to determine if we are able to find a lender for your loan application. Your application will either be accepted or rejected based on the criteria set by lenders we work with. In addition to the Lenders, we may use credit data to assess the creditworthiness of your business which includes data about your credit history and that of your business. In addition to the credit score of the business, directors, personal guarantors and that of their linked financial associates, we may also consider additional information including other financial information to find a funding offer for you.
(ii) Statistical Analysis
We may carry out periodic statistical analysis or testing to ensure the accuracy of existing and future products and services. To that effect, we may place you in segments to understand our customers’ needs and manage our relationships with them.
(iii) Prevention of Money Laundering
We including the lenders we pass your information to may use personal information to (i) verify your identity, the directors, partners, mortgagors, co-mortgagors, shareholders, personal guarantors and that of your financial associates (ii) undertake checks for the prevention and detection of crime, fraud and/or money laundering (iii) identify if your personal or business information have been used for fraud or money laundering purposes and where we believe that there is such a risk, we will report our suspicion to the National Crime Agency as required by law.
(iv) Pricing
We may decide to charge you directly for our products and services or be paid a commission directly from the lender to whom we have successfully passed your information.
(v) Your rights over automated decision
Under DPA 2018 and GDPR, you have rights to request that our initial decision to accept or reject your application is not based on the automated decision only or you can object to the latter or request for the decision to be reviewed.
Please contact us on [email protected] if you wish to have more information about these rights.
We and the Lenders may carry out credit and identity checks on the individuals as mentioned below with at least two CRA when you apply for a loan for your business through us.
On submitting the application, you agree that you have the full consent of all parties including the directors, partners, mortgagors, co-mortgagors, shareholders, personal guarantors and any linked “financial associates” i.e. a person with whom you may have had or have a joint personal financial arrangement such as joint accounts or have made joint credit applications which may be your spouse or partner, or civil partner for credit checks to be performed. Whilst some lenders may conduct quotation searches which does not leave a footprint on your credit file, other lenders may conduct full company searches and director searches, which will not impact your personal credit score but may impact your ability to obtain credit as they are visible to other lenders. If you want to have more details about the type of searches a lender performs, request a copy of their privacy policy.
You acknowledge by submitting the application that you have obtained the consent of the relevant parties and have read the privacy policy. If the applicant is a sole trader, we or the lenders we pass the information to may check any financial associate. If the application is for a business partnership, we and/or the lenders may check each partner and their financial associates and where the application is for a limited company, we may check each director, shareholder and their financial associates. The credit file of all personal guarantors may also be checked. By submitting any application form, you agree that you have the full consent of each related party as mentioned above.
You acknowledge that credit reference agencies will link the records of you and anyone that you have advised is a financial associate (e.g someone with whom you have a joint credit account) including previous and subsequent names of parties to the account. Links between financial associates will remain on your, and their credit reference files until such time as you or partner successfully files for a disassociation with the credit reference agencies.
We and/or the lenders we pass on your information to will share personal information such as name, residential address, previous residential addresses, date of birth, telephone number, email address of directors, shareholders, personal guarantors, mortgagors, co-mortgagors, linked associates including business details with the CRAs. The latter will provide us with the financial situation and credit history information on the business and the individuals including their linked financial associates. Public information from the electoral register, companies house, county court judgments, bankruptcies and fraud prevention/anti money laundering information will also be provided.
Faster Finance and the Lenders will use the information received from the CRAs to:
Assess the creditworthiness of the business, directors, personal guarantors, mortgagors, co-mortgagors, shareholders and your financial associates;Verify the details on your application and ensure what you have told us is accurate;Verify your identity and that of your financial associates and undertake checks for the prevention and detection of crime, fraud and money laundering;Manage your accounts with us; andTrace your whereabouts and recover debts that you owe to them.
Where you borrow from us, we will give details of your accounts and how you manage it to CRAs. We will continue to share your personal information with CRAs if you are our customer, and these will include information on your loan,
current balance and repayment history.
The above information may be shared by the CRAs with other lenders who may want to check your credit status and that of your business.
Whilst some lenders undertake quotation searches which do not leave a footprint on your quotation search, others may undertake full company and director search which leave a footprint but do not impact your personal credit file. However, it may impact your ability to obtain credit as they are visible to other lenders. No lender we send your information to, will perform a consumer check on you unless you have provided your consent directly to them.
Where you are making an application with someone else or you tell us you have a spouse, partner or civil partner or that you are in business with other partners or directors, we or the other lenders we pass your information to, may link and search information about you and your associates at the CRAs.
CRAs will also link your records together and these links will remain on your credit files until you or financial associate provides proof to the CRAs that you are no longer financially linked.
You can contact the CRAs currently operating in the UK in order to check the information they hold about you. The information they hold may not be the same, so it is worth contacting them all. Below are links to the Credit Reference Agency Information Notice which provide information about them, the data they hold, how it is shared, and your data protection rights.
As part of our application process, we will need to confirm the identity of your business, your own identity, the identity of the directors, partners, shareholders, mortgagors, co-mortgagors, personal guarantors and linked financial associates and therefore exchange your personal information with CRAs in order for them to assist.
Both ourselves, the CRAs and the lenders we pass the information to, can only use the personal information as mentioned above if we have a proper reason to do so; such as to obey the law or where we rely on legitimate interest and it should not unfairly go against what is best for you. The following information will be shared with the CRAs:
Name;Date of birth;Current residential addressHistory of where you have lived;Contact details, such as email addresses and phone numbers;Financial data such as the company bank account details;Data relating to you or your businesses products or services; andData that identifies computers or other devices you use to connect the internet such as the Internet Protocol (IP) address.Registered office and trading addresses
Information from the CRAs will help us and the lenders we pass your information to, to conduct the following:
Confirm identities, residential and trading address;Help prevent crime, fraud and money-laundering;Fulfil any contracts you or your business has with us;
Where we suspect fraud or money laundering, the CRA and us may share your personal information with law enforcement agencies.
As far as fraud and money laundering prevention is concerned, we shall keep your data as for as long as we exist. However, the CRAs and the lenders may keep them for a different length of time.
We may submit the information you provide to us through our automated system that will identify fraud patterns and indicate unusual activities for you and your business. Either of these could indicate a possible risk of fraud or money-laundering and where that is the case, we will reject your application and report it to the National Crime Agency accordingly. We and the CRAs may keep a record of the risk you or your business pose to our business.
We and the organisations we share data with may transfer your personal information to countries outside the UK and the European Economic Area (EEA). If your information is transferred to or is accessible, in any countries which is not considered by the European Community to adequately protect personal data, we will always take steps to ensure that your information is protected, and those transfers comply with applicable privacy laws. We may transfer your information to other countries, including those outside the European Economic Area, either for storage and back up purposes or if we engage suppliers, sub-contractors or third-party data processors who are based or have operations overseas. We will always take steps to ensure that your information is protected and that those transfers comply with applicable privacy laws.
Transferring data outside of the EEA
We will only send your data outside of the EEA to:
Adhere to your instructions follow our legal obligations work with suppliers, sub-contractors or third-party data processors.
If we do transfer your personal information outside the UK and EEA to our suppliers, we will make sure that it is protected to the same extent as in the UK and EEA.
We’ll use one of these safeguards:
- Transfer it to a non-EEA country with privacy laws that give the same protection as the EEA. Learn more on the European Commission Justice website.
- Put in place a contract with the recipient that means they must protect it to the same standards as the UK and EEA. Read more about this here on the European Commission Justice website.
- Transfer it to organisations that are part of Privacy Shield. This is a framework that sets privacy standards for data sent between the US and EU countries. It makes sure those standards are similar to what is used within the UK and EEA. You can find out more about data protection on the European Commission Justice website.
As part of our marketing strategy, we may use your personal information to analyse which products, services and offers may be relevant for you.
We may use your personal information to send you marketing messages in relation to our products and services based on legitimate interest. That is when we have a business or commercial reason to use your information. It must not unfairly go against what is right and best for you whether you have applied directly or through a partner of ours.
As a client or contact of Faster Finance Ltd. you will have full control over your marketing preferences with us. You can ask us to stop sending you marketing messages by updating your marketing preferences
at any time on email to [email protected]. However, you will still receive mandatory and key service communications such as any changes to your existing products and services with us.
We may ask you to confirm or update your choices, if you take out any new products or services with us in future. We will also ask you to do this if there are changes in the law, regulation, or the structure of our business.
If you change your mind you can update your choices at any time on email to [email protected].
We will keep your personal information for up to 6 years after your account is closed. If for any technical, regulatory, legal reasons or research and statistical purposes we are unable to delete your personal data, we may keep it longer than 6 years but will ensure your privacy rights are always protected. For incomplete applications, personal information will be deleted after 6 months. The third parties including the lenders we transfer your information to may retain your information for a longer period of time. For more information, request their privacy policy by writing to [insert email].
Access your personal information
You have the right to access the personal information we hold about you and request details of any third parties with whom we have shared your information by emailing us on [email protected] or writing to us at this address: Faster Finance Ltd at 27 Cambridge Park, London, E11 2PU. This is sometimes called a subject access request. If we agree that we are obliged to provide personal information to you, we will provide it to you free of charge within 30 days. If we cannot, we will advise you that we require an extension and send your data within a further 60 days. We may verify your identity by requesting for proof of your identity and verification of address.
Updating your personal information is incorrect
You have the right to request us to amend or remove incorrect or incomplete information we hold about you. You can email us on [email protected] or write to us at this address: Faster Finance Ltd at 27 Cambridge Park, London, E11 2PU
If you do, we will comply with your request within 30 days. However, where we are not obliged to comply with your request, we will inform you of the reasons behind our decision promptly.
Limit processing of your personal information?
Under the new data protection law, you have the right to object, right to erasure and the right to be forgotten. This means that if you request us to delete, remove, stop, limit or object to us using your personal data, we may have to comply with your request as defined below. We will also inform the third parties we have transferred your personal information to delete, remove, stop, limit from using them where we receive such a request from yourself.
Where your data is not accurate, has been unlawfully used, is no longer relevant and/or where you have requested us to stop using your data already, you have the right to request us to restrict the use of your personal information. Under these circumstances, we would not make use or share your information and act on your request within 30 days of receipt. However, there will be circumstances where we will be bound by our legal and contractual obligations and will not be
able to fulfil your request.
If you wish to object to how we use your data, or ask us to delete it or restrict how we use it or, please contact us on [email protected].
Where we have made the personal data public and you want to exercise your right to be forgotten, we shall take reasonable steps to inform
the other parties to whom your information has been passed.
Not providing your personal information
We may need to collect personal information by law, or under the terms of a contract we have with you.
If you choose not to give us this personal information, it may delay or prevent us from meeting our obligations. It may also mean that we cannot perform services needed to run your accounts. It could mean that we cancel a product or service you have with us. Any data collection that is optional would be made clear at the point of collection.
Complaint
Please let us know if you are unhappy with how we have used your personal information. You can email us on [email protected] You also have the right to complain to the Information Commissioner’s Office where their website will provide details.
Data Portability
Under the new regulation, you have the right to data portability, whereby you have the right to request us to transfer your personal data from us to another service provider in a safe and secure manner and in a format that can be easily re-used. You can also ask us to pass on your personal information in this format directly to other organisations.
We will provide this information within a month and where we cannot meet such a request, we will respond within the next 2 months, but we will advise you why an extension is required. In the event we cannot meet such a request, we will explain the reasons to you within a month of your request and also inform you of your right to complain to the Information Commissioner’s Officer; and right to a judicial remedy without undue delay.
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Linked Websites
For your convenience, hyperlinks may be posted on the Websites that link to other websites (the “Linked Sites”). We are not responsible for, and this Privacy Policy does not apply to, the privacy practices of any Linked Sites or of any complaints that we do not own or control. Linked Sites may collect information in addition to those we collect on our websites and therefore we do not endorse any of these Linked Sites nor the services or products described or offered on such Linked Sites, or any of the content contained on the Linked Sites. We encourage you to seek out and read the Privacy Policy of each Linked Site that you visit to understand how the information that is collected about you is used and protected.