We may provide your personal data to other agencies (including FPAs), this will be in order to help lenders such as us trace debtors, recover debt, prevent fraud and to check your identity to prevent money laundering. If you have taken out a Finance Package from us and failed to make repayments, we may trace your whereabouts and recover debts. Agencies are not permitted to keep “blacklists” nor should they give any opinion about whether or not credit finance should be granted to you this for us to decide.
Accessing your file:
If you wish to see the information contained on an agency file you can do so by writing to the relevant agency. If your file contains information about you which is incorrect (or contains information about other people with whom you have no financial connection) you can request for the applicable information to be corrected, removed or have a note put on the file explaining why you think the information is wrong. The agency will not remove correct information.
Open Banking is the secure way of providing access to your bank or building society account to providers who are registered for this purpose.
By permitting access to your bank or building society account information in this way, we are able to make a better lending decision as we shall be able to verify your income, outgoings and other matters in order to assess what loan terms would be suitable for you based upon what you can reasonably afford to repay.
By proceeding with your loan application via our website you expressly consent to us sharing the details you have provided in your application for a Finance Package, which will include your personal data (“the Shared Personal Data”), with our registered Open Banking partner, Lending Metrics. Lending Metrics is also a credit reference agency. Further information about Lending Metrics including their registered provider and regulatory status is available from lendingmetrics.
Whilst completing your Finance Package application, we will ask you to choose whether you would like to provide us with copies of your bank statements or allow us to use Open Banking. You are free to choose either of these options and we will not use Open Banking unless we have obtained your consent.
If you consent to Open Banking, during your loan application we will safely and securely direct you to Lending Metrics’ secure portal (“the Portal”) for the purposes of granting Lending Metrics access to your bank or building society account information (” Transaction Information”).
If your bank online payday loans for bad credit or building society is registered to provide access under the Open Banking Directory, Lending Metrics will obtain your Transaction Information and report it back to us in the form of a completed search for us to process your loan application (“the Permitted Purpose”).
Where your bank or building society have already permitted access to your Transaction Information you shall need to contact them directly in order to withdraw your consent under their particular Open Banking terms and conditions.
Lending Metrics are registered under the Open Banking Directory as an account information service provider and are also regulated by the Financial Conduct Authority as a payment services firm under number 802599. Any data you submit via the Portal will be encrypted and its usage tracked as part of set Open Banking data security standards.