Velocity Fintech Pty Ltd trading as AutomotiveLoanWarehouse.com.au (ACN 608 241 818 and Australian credit licence number 480940) understands the importance of protecting your personal information.
This document describes how we comply with our obligations under the Privacy Act 1988 and any other relevant law, including the 13 Australian Privacy principles. Our commitment to protect the privacy of your information, your rights and recognises that we will only collect personal information for the purposes we have collected it for or as allowed by law.
What personal information do we collect?
Personal information we mean information, or an opinion about you, from which you may be identified.
This information is collected and held to offer you a specific product and may include (but is not limited to) name, date of birth, identification such as Medicare number, drivers licence number or passport number, marital status, phone number, email address, address, nationality, occupation and employment history, income and expenses, assets and liabilities and any other information lawfully obtained under the privacy act.
Why we collect your personal information?
We require the information we collect from you to assess your credit, or guarantor, application or the credit application of a company of which you are a director, source a suitable credit provider and any required insurances and to manage the application process, where required. We may also collect your personal information for the purposes of direct marketing and managing our relationship with you. From time to time we may offer you other products and services.
How do we collect your personal information?
Where reasonable and practical we will collect your personal information directly from you. We collect personal information in a number of ways including:
• Lodging an application via our application tool, website, email or telephone.
• Face to face or telephone conversations between you and our representatives.
We may also collect personal information from third parties including:
• Through accredited third party referrers;
• your accountant, any referees you provide or we request and any joint applicants for finance; or
• from third party companies such as credit reporting bodies, or other third parties assisting in the processing of your application.
How do we use your personal information?
We use your personal information for the purpose for which it has been provided and for any necessary related purposes. This may include using your personal information for the following purposes:
• To provide you with the products or services you requested;
• To prepare, submit and manage applications on your behalf to a lender or insurance provider;
• Identifying and informing customers of products and services that may be of interest;
Disclosure of your personal information
We may disclose your personal information:
• To prospective funders or insurance providers to provide you with the products and services you have requested.
• To anybody who represents you such as your accountant.
• Where you have provided consent to disclose the personal information.
• Where we are required to disclose the information by law such as Anti-Money Laundering and Counter Terrorism Financing Act.
• Administrative service providers such as call centre or market research providers.
Credit reporting Disclosures
When we collect information from you in the credit application process, we use that information in a number of ways to assess your credit application and to source a suitable credit provider or lessor and/or insurance provider. We may:
• Disclose your identification information to a credit reporting body if you wish us to obtain a report.
• Use any information the credit reporting body provides in that report to assist us to preliminary assess your consumer credit or guarantor application.
• Disclose your information to an insurer or insurers to source any insurance you wish to obtain.
• Disclose your credit information to a credit provider or credit providers to apply for finance on your behalf.
The information we obtain from you is used, subject to compliance with Australia’s privacy and credit reporting laws, only for the purposes listed in our Consent and is not disclosed to any other person except with your permission or as permitted, or required, by law.
You have the right to ask the credit reporting body to provide you with a copy of the information it holds on you. You can contact the credit reporting body at: http://www.veda.com.au/
From time to time we may use your personal information to provide you with current information about products you may find of interest. If you do not wish to receive marketing information, you may at any time decline to receive such information by contacting us using the contact details below. We will not charge you for giving effect to your request and will take all reasonable steps to meet your request at the earliest possible opportunity.
Updating your personal information
It is important to us that the personal information we hold about you is accurate and up to date and we will ask you inform us if any of your personal information has changed. Please contact us if you wish to make changes to your personal information as we will generally rely on you to inform us of changes to ensure the information we hold about you is accurate or complete.
Access and correction to your personal and credit information
We will provide access to your personal information subject to some exceptions specified in the Privacy Act. You may at any time request access to the personal information we hold about you by using the contact details below. We may charge a fee for our reasonable costs for retrieving and supplying the information. If appropriate we will correct the personal information at the time of the request, otherwise, we will provide an initial response to you within 7 days of receiving your request. Where reasonable, and after our investigation, we will provide you with details about whether we have corrected the personal or credit information.
If there is a situation where we are not required to provide you with access to personal information we will provide you with an explanation as to why we have denied access to the personal information.
Using government identifiers
If we collect government identifiers, such as your tax file number, we will not use or disclose this information other than authorise by law. We will never use a government identifier to identify you.
Anonymity and Pseudonymity
Australian Privacy principles provides that individuals must have the option of dealing anonymously or by pseudonym where possible. This may be possible for making very general enquiries however to offer you our products and services it will be necessary to identify you and collect personal information.
Security of your personal information
We will take reasonable steps to protect your personal information, including your credit-related personal information, by storing it in a secure environment, and when the information is no longer needed for any purpose for which the information may be used or disclosed, it will be destroyed or permanently de-identified.
We will also take reasonable steps to protect any personal information from misuse, loss and unauthorised access, modification or disclosure.
What do you do if you have a complaint?
If you are dissatisfied with how we have dealt with your personal information you may lodge a complaint by contact us directly on 1300 155 665 or by emailing our complaints officer email@example.com
We will reply to your complaint within seven days and have a decision on your complaint within 30 days.
If the matter is not resolved to your satisfaction you may refer the complaint to our external dispute resolution provider CIO (Credit and Investment Ombudsmen) by phone: 1800 138 422 or online at www.cio.org.au or the Privacy Commissioner which can be contacted on either www.oaic.gov.au or 1300 363 992
We may change our policy from time to time to keep up to date current law and market practices and will post any changes on our website. This policy was last updated on the 13 May 2016