Privacy Policy

Fundo Loans Pty Ltd


Introduction

Fundo Loans Pty Ltd ACN 604 639 143 (referred to as ‘Fundo Loans’, ‘we’, ‘our’, ‘us’) is a credit provider for people who need a small or medium amount of money for a short time.

We recognise that our success depends on us maintaining the utmost commitment to upholding customers’ privacy rights when we collect, hold, use or disclose customers’ personal information. We have established procedures and protocols to help us keep personal information we hold secure, accurate, up-to-date and complete.

This Policy applies to and covers all operations and functions of Fundo Loans. All staff and third parties (including suppliers, sub-contractors and agents) that have access to or use personal information collected and held by Fundo Loans must comply with this Privacy Policy.

This Policy outlines our obligations to manage and protect personal information and reflects the requirements of the Australian Privacy Principles (‘APPs’), the Credit Reporting Privacy Code (‘the Code’) and the Privacy Act 1988 (Cth) (“the Privacy Act”). This Policy is available free of charge from our website: PRIVACY POLICY

This Policy also outlines our practices, procedures and systems that ensure compliance with the Privacy Act, APPs and the Code.



DEFINITIONS

  • ‘Credit information’ is personal information (other than sensitive information) that relates to an individual’s credit history or credit worthiness and is further defined in the Privacy Act. Credit information includes information that we have obtained from Third Parties, including individuals, other credit providers and credit reporting bodies (‘CRBs’).
  • ‘Disclosure’ of information means providing information to persons outside Fundo Loans.
  • ‘Individual’ means all persons whose personal information we collect, use or disclose.
  • ‘Personal information’ means information or an opinion relating to an individual, which can be used to identify that individual.
  • ‘Privacy Officer’ means the contact person within Fundo Loans for questions regarding Fundo Loans’ Privacy Policy. Contact details are 1800 161 391 or email hello@fundo.com.au
  • ‘Third Parties’ mean customers, suppliers, sub-contractors, agents or other people having a commercial relationship with Fundo Loans.
  • ‘Use of information’ means use of information within Fundo Loans.

WHAT KINDS OF PERSONAL INFORMATION DO WE COLLECT AND HOLD?

We may collect personal information about our customers, specifically:

  • Name
  • Address
  • Phone numbers
  • Date of birth
  • Employment details and pay advices
  • Bank account details and account statements
  • Passport, Driver’s licence or Medicare card details
  • Marital status and dependents
  • Financial and credit information, including: details of assets, liabilities, income, expenses:
    • information about consumer credit liabilities, such as the name of an entity that has provided an individual with credit, the date the credit was provided and the maximum amount of credit made available;
    • information about an individual’s repayment history, such as whether they were late in making loan repayments when repayments were due;
    • the type and amount of credit for which an individual applied;
    • whether an individual is 60 days or more overdue in making a repayment of $150 or more;
    • whether an individual has repaid overdue amounts;
    • information about new credit arrangements into which an individual has entered as a result of defaulting on repayments;
    • information about court judgements against an individual in relation to credit that has been provided to that individual;
    • publicly available information that relates to an individual’s creditworthiness;
    • information recorded in the National Personal Insolvency Index;
    • our opinion as to whether an individual has committed a serious credit infringement in relation to consumer credit provided to that individual;
    • any other personal information that may impact our assessment of an individual’s creditworthiness; and
  • Any other information that is relevant to the services that we provide.

HOW WE COLLECT PERSONAL INFORMATION

We generally collect personal information directly from the individual. For example, we collect personal information when an individual enquires about or applies for credit, or contacts us about a loan, including when they visit our website, call us or send us correspondence. Sometimes we may determine that we need to collect personal information about an individual from a third-party, such as financial institutions, other credit providers, electronic verification services or a CRB. We may collect personal information about an individual when a person with whom the individual holds a bank account gives us information about that account.

When we are provided with personal information about an individual from a third-party, we will take reasonable steps to ensure that the individual is made aware of the matters set out in this Privacy Policy. Fundo Loans will not collect personal information unless the individual has consented to providing the information or an exemption under the APPs applies.

These exceptions include if the collection is required or authorised by law or are necessary to take appropriate action in relation to suspected unlawful activity or serious misconduct. If the personal information request is not provided, we may not be able to process an application for credit or meet an applicant’s needs appropriately.

Fundo Loans does not provide the option of dealing with it anonymously, or under a pseudonym, for the purpose of applying for credit. This is because it is not legally possible for us to consider applications from individuals who are not identified.

Fundo Loans may receive unsolicited personal information about an individual. We destroy or de-identify all unsolicited personal information, unless it is relevant to our purposes, under this Policy.


WEBSITE COLLECTION

We collect personal information from our website www.fundo.com.au , we receive emails and online account application forms. We may also use third parties to analyse traffic at the website, which may involve the use of cookies. Information collected through such analysis is anonymous.


WHY DO WE COLLECT AND HOLD PERSONAL INFORMATION?

We may collect and hold personal information to:

  • Assist us in providing individuals with credit;
  • Verify an individual’s identity and financial situation;
  • Assess whether our credit products are suitable for an individual;
  • Assess any applications for credit by individuals;
  • Managing credit provided to individuals or collect overdue payments from individuals;
  • Provide individuals with our promotional material;
  • Protect our business and other customers from fraudulent or unlawful activity;
  • Conduct our business and perform other management and administration tasks;
  • Bring, defend, or manage any legal action involving an individual and Fundo Loans;
  • Comply with relevant laws, regulations and other legal obligations, including the National Consumer Credit Protection Act 2009;
  • Help us improve our products and services and to enhance our overall business.

HOW MIGHT WE USE AND DISCLOSE PERSONAL INFORMATION?

  • The primary purpose for which personal information is collected is for providing individuals with credit and managing that credit.
  • Secondary purposes for personal information collection are related to this primary purpose, such as keeping individuals informed about changes to their loan, or new products and services.
  • Other purposes authorised by the Privacy Act may also apply.

We use and disclose personal information for the purposes outlined above. Sensitive information will be used and disclosed only for the purpose for which it was provided or a directly related secondary purpose, unless an individual agrees otherwise, or if certain other limited circumstances apply (e.g., where required by law). Credit information will only be used and disclosed for the purposes outlined below.

We engage other people to perform services for us (“contractors”), which may involve them handling personal information we hold. In these situations, we prohibit contractors from using personal information except for the specific purpose for which we supply it. We prohibit contractors from using personal information for the direct marketing of their products or services.

Fundo Loans will attempt to de-identify sensitive information held by us, wherever possible. We also undertake to delete all personal information about an individual when it is no longer needed or relevant.


TO WHOM MIGHT WE DISCLOSE PERSONAL INFORMATION?

We may disclose your personal information, excluding credit information, to:

  • A related entity of Fundo Loans;
  • An agent, contractor or service provider we engage to carry out functions and activities in connection with approving or administering credit products or services, such as our electronic verification service, lawyers, accountants, debt collectors or other advisors;
  • Organisations involved in a transfer or sale of all or part of our assets or business;
  • Organisations involved in managing our payments, payment merchants and other financial institutions, such as banks;
  • Another credit provider if we consider that an individual has committed a serious credit infringement, or the individual has consented to the disclosure;
  • An external debt recovery service;
  • A CRB;
  • Regulatory bodies, government agencies, law enforcement bodies and courts;
  • An individual’s financial institutions, referee/s, employer, co-account holder or authorised signatory; and
  • Anyone else to whom the individual authorises us to disclose it.

If we intend to provide default information about an individual to a CRB, we will give that individual at least 14 days’ written notice of our intention to do so. If we disclose default information to a CRB, and the individual subsequently repays the amount owed, we will tell the CRB that the amount owing has been repaid. We will not disclose to an CRB credit repayment history information that is more than 2 years old or which relates to an amount owing of less than $150.


HOW MIGHT WE USE AND DISCLOSE CREDIT INFORMATION?

We will only use and disclose your credit information for the following purposes:

  • Assessing an application by the individual for credit;
  • Collecting payments that are overdue in relation to credit provided by us;
  • Dealing with a serious credit infringement we consider that an individual has committed;
  • Responding to questions in the course of an investigation by the Australian Financial Complaints Authority (AFCA);
  • Purposes required or authorised by law;
  • Assisting an individual to avoid defaulting on their repayment obligations; or
  • Internal management purposes that are directly related to the provision or management of credit to individuals.
  • Another credit provider if we believe you have committed a serious credit infringement, or the individual has consented to the disclosure; to a debt collector; or a CRB.

SENDING INFORMATION OVERSEAS

We will not send personal information to recipients outside of Australia unless:

  • We have taken reasonable steps to ensure the recipient does not breach the Privacy Act, the APPs and the Credit Reporting Privacy Code;
  • The recipient is subject to an information privacy protection regime similar to that required by the Privacy Act; and
  • The individual has consented to the disclosure.

MANAGEMENT OF PERSONAL INFORMATION

The APPs require us to take all reasonable steps to protect the security of personal information, including credit information. Fundo Loans employees respect the confidentiality of the personal information we collect.

We take reasonable steps to protect personal information held from misuse, loss, unauthorised access, modification or disclosure. All personal information stored on Fundo Loan’s computer system is backed up regularly and back-up copies are held in a secure location. In relation to our customer database, we apply the following guidelines:

  • Data ownership is clearly defined within this policy;
  • Passwords are routinely checked;
  • We change employees’ access capabilities when they are assigned to a new position;
  • Employees have restricted access to certain sections of the system;
  • The system automatically logs and reviews all unauthorised access attempts;
  • The system automatically limits the amount of personal information appearing on any one screen;
  • Unauthorised employees are barred from updating and editing personal information;
  • All personal computers which contain personal information are secured, physically and electronically;
  • Data is encrypted during transmission over the network;
  • Print reporting of data containing personal information is limited;
  • Fundo Loans has created procedures for the disposal of personal information; and
  • Personal information is overwritten to the extent possible when the information is no longer required.

Where we no longer require personal information, we will take reasonable steps to destroy or de-identify it.


DIRECT MARKETING

Fundo Loans does not use personal information for the purposes of direct marketing, unless:

  • The personal information does not include sensitive information; and
  • An individual would reasonably expect us to use or disclose the information for the purpose of direct marketing; and
  • We provide individuals with a simple way of opting out of direct marketing; and
  • An individual has not requested to opt out from receiving direct marketing from us.

If an individual would not reasonably expect us to use or disclose the information for the purpose of direct marketing, we may use or disclose that information for direct marketing only if the individual has consented to the use or disclosure of the information for direct marketing or it is impracticable to obtain that consent.

Individuals can opt out of direct marketing by contacting us and we will give effect to the request within a reasonable period of time. Individuals can opt out of direct marketing by contacting us. We will give effect to the request within a reasonable period of time. Fundo Loans will provide individuals with the source of its information about them on request, free of charge, within a reasonable period of time.

We will not use or disclose credit information for the purposes of direct marketing.

We may use or disclose sensitive information about an individual for the purpose of direct marketing only with that individual’s consent.


IDENTIFIERS

We will not use identifiers assigned by the Government, such as a tax file number, Medicare number or provider number, for our own file recording purposes, unless one of the exemptions in the Privacy Act applies. Fundo Loans endeavours to avoid data-matching.


HOW DO WE KEEP PERSONAL INFORMATION ACCURATE AND CURRENT?

Fundo Loans takes reasonable steps to ensure that the personal information, including credit information, it collects, uses and discloses is relevant, accurate, complete and current.

We encourage individuals to contact us in order to update any personal information we hold about them. If we correct information that has previously been disclosed to another entity, we will notify the other entity of the correction within a reasonable period of time of the correction being notified to us. If we are satisfied that personal information we hold is inaccurate, we will take reasonable steps to correct the information within 30 days, unless agreed otherwise with the individual. We do not charge for correcting personal information.


ACCESS TO PERSONAL INFORMATION

Subject to the exceptions set out in the Privacy Act, an individual may gain access to the personal information, including credit information, which Fundo Loans holds about them by contacting the Fundo Loans Privacy Officer. We will provide access within 30 days of receipt of such request. If we refuse to provide access, we will provide reasons for the refusal.

Individuals may look at their personal information at the offices of Fundo Loans. We will require individuals to verify their identity and specify what information is required. An administrative fee for search and photocopying costs may be charged for providing access.


We may use and exchange your customer data with other credit providers

Where permitted by law, or for any of the purposes noted in clause 6, we may exchange and sell individual customer data to other credit providers, which may use that customer data for any of the purposes for which the credit provider may use it.

We may use and exchange your customer data with third parties

The information we may exchange with other credit providers and alternate service providers includes:

  • Individual application information held by us;
  • Customer identification details;
  • Details of an individual’s current loans, including the amount borrowed, the repayment history and whether any serious credit infringements (e.g. fraud) have been committed.

The third parties with whom we may exchange customer data include:

  • Service providers, for example credit providers, credit file repair services, budgeting services and rental services;
  • The provider of the market for the sale or distribution of individual customer data;
  • Those to whom we or any of the third parties outsource certain functions, for example direct marketing, statement production, debt recovery and information technology support;
  • Government and law enforcement agencies or regulators;
  • Credit reporting bodies and credit providers.

DATA BREACHES

A data breach occurs when personal information held by us is lost or subjected to unauthorised access or disclosure. If we suspect or know of a data breach, we will take immediate steps to limit any further access or distribution of the affected personal information or the possible compromise of other information.

When we have reasonable grounds to believe that a data breach is likely to result in serious harm, for example identity theft, significant financial loss or threats to physical safety, we will notify individuals at likely risk as soon as practicable and make recommendations about the steps they should take in response to the data breach. We will also notify the Office of the Australian Information Commissioner.

Notifications will be made using our usual method of communicating with you such as by a telephone call, email, SMS, physical mail, social media post, or in-person conversation. If we are unable to contact you (or your nominated intermediary) by any of the above methods we will publish a statement on the front page of our website and place a public notice on our reception desk.


UPDATES TO THIS POLICY

This Policy will be reviewed from time to time to take account of new laws and technology, changes to our operations and the business environment. A copy of the current version may be obtained upon request.


ENQUIRIES AND COMPLAINTS

Individuals wishing to raise a matter with us or who would like to discuss any aspects of our Privacy Policy, may contact our Privacy Officer. Our Privacy Officer will investigate the issue and determine the steps we will undertake to resolve the enquiry or complaint. If additional information is required by us, this will be advised. We will notify the determination of our Privacy Officer in writing within 30 days of the determination. We can be contacted by:

  • Telephoning us on 1800 161 391
  • Writing to: The Privacy Officer at Level 9, 46 Kippax Street, Surry Hills, NSW 2010 Australia
  • Emailing hello@fundo.com.au

Individuals not satisfied with our response may contact:

  • Australian Financial Complaints Authority (AFCA) telephone 1800 931 678, www.afca.org.au or PO BOX 3, Melbourne, VIC 3001; or
  • The Office of the Australian Information Commissioner telephone 1300 363 992, emailing enquiries@oaic.gov.au, or
  • Writing to Director of Complaints, Office of the Australian Information Commissioner, GPO Box 5218, Sydney NSW 2001.

ACKNOWLEDGEMENT AND CONSENT

By submitting a loan application, an individual specifically acknowledges that:

  • They have been advised of this Privacy Policy and its contents;
  • We may elect, at our discretion, to make an enquiry of the individual’s credit history file with a CRB and the individual explicitly grants consent to this enquiry being made
  • • A failure to grant consent to a credit history file enquiry being made may result in the application not being able to be considered for approval.

April 2023