1. Your Privacy
2. Information we collect
Information we collect from you:
The information we collect from you may include your identity and contact details, other personal details such as gender and marital status and financial information.
Information we collect from others:
We collect information about you from others, such as service providers, agents, advisers, brokers, employers or family members. For example, if you apply for credit, we may need to obtain a credit report from a credit reporting body. If you apply for life or income protection insurance, we may collect medical and lifestyle information from you or your health professionals. We may collect information about you that is publicly available, for example from public registers or social media, or made available by third parties. Examples of personal Information that we will collect:
- phone number
- date of birth
- email address
- bank account details
- Personal income and financial information
- taxation, banking or superannuation details
- relationship status and number of children/dependants
- property ownership information
We are bound by the Australian Privacy Principles under the Privacy Act 1988 (Cth) (“Privacy Act”).
The Privacy Act also protects your sensitive information, such as financial records and personal records. We do not release this information to any third party, except where otherwise permitted by law.
3. How do we use your information?
We collect, use and exchange your information so that we can:
establish your identity and assess applications for products and services price and design our products and services administer our products and services manage our relationship with you manage our risks and help identify and investigate illegal activity, such as fraud contact you, for example if we suspect fraud on your account or need to tell you something important conduct and improve our businesses and improve the customer experience comply with our legal obligations and assist government and law enforcement agencies or regulators identify and tell you about other products or services that we think may be of interest to you comply with any operation of law that is required of us. We may also collect, use and exchange your information in other ways where permitted by law. We also collect this information to be able to understand our customers and deliver a better individualised experience.
Gathering and combining data to get insights
Improvements in technology enable organisations, like us, to collect and use information to get a more integrated view of customers and provide better products and services. We may combine customer information it has with information available from a wide variety of external sources (for example census or Australian Bureau of Statistics data). We are able to analyze the data in order to gain useful insights which can be used for any of the purposes of improving our business and service to you.
4. Who do we exchange your information with?
We may exchange your information with third parties where this is permitted by law or for any of the purposes mentioned above in 3. We do not share this information with any third parties, except in the case where a client engages our services and we need to relay information between consultants, brokers and agents on behalf of the client. This is done with the clients prior approval.
Due to the way our IT infrastructure works, the information may be relayed via intermediary third party technology providers and external databases (hosting services etc).
Third parties include, but are not limited to:
- service providers, for example: cloud data servers, web server providers, mortgage insurers and loyalty program redemption partners those to whom we outsource certain functions, for example, direct marketing, statement production, debt recovery and information technology
- support brokers, agents and advisers and persons acting on your behalf, for example guardians and persons holding power of attorney
- guarantors persons involved in arrangements that provide funding to us, including persons who may acquire rights to our assets (for example loans),
- investors, advisers, trustees and rating agencies
- claims-related providers, such as assessors and investigators, who help us with claims
- other financial institutions, for example so that we can process a claim for mistaken payment
- auditors, insurers and re-insurers
- employers or former employers
- government and law enforcement agencies or regulators
- credit reporting bodies and credit providers; and
- entities established to help identify illegal activities and prevent fraud
Sending information overseas
From time to time we may send your information overseas, to service providers or other third parties who operate or hold data outside Australia. Where we do this, we make sure that appropriate data handling and security arrangements are in place. We may also send information overseas to complete a particular transaction, such as an International Money Transfer, or where this is required by laws and regulations of Australia or another country.
5. Credit checks and credit reporting
When you apply to us for credit or propose to be a guarantor, we need to know if you’re able to meet repayments under your agreement with us. We also want to avoid giving you further credit if this would put you in financial difficulty. One of our checks involves obtaining a credit report about you.
A credit report contains information about your credit history which helps credit providers assess your credit applications, verify your identity and manage accounts you hold with them. Credit reporting bodies collect and exchange this information with credit providers like us and other service providers such as phone companies.
The Privacy Act limits the information that credit providers can disclose about you to credit reporting bodies, as well as the ways in which credit providers can use credit reports.
We store credit-related information with your other information. You can access credit-related information we hold about you, request us to correct the information and make a complaint to us about your credit-related information.
6.Keeping your information secure
We keep your hard-copy or electronic records on our premises and systems or offsite using trusted third parties. Our security safeguards include: