Who are we?
‘We’, ‘us’ and ‘our’ refer to Myloan, New Zealand, and our related businesses.
Our commitment to protect your privacy
We recognise that any personal information we collect about you will only be used for the purposes we have collected it or as allowed under the law.
It is important to us that you are confident that any personal information we hold about you will be treated in a way which ensures protection of your personal information.
Our commitment in respect of personal information is to abide by the New Zealand Privacy Principles for the protection of personal information, as set out in the Privacy Act 1993 (the Privacy Act) and any other relevant law.
When we refer to personal information we mean information from which your identity is reasonably apparent. This information may include information or an opinion about you. The personal information we hold about you may also include credit information.
Credit information is information which is used to assess your eligibility to be provided with finance and may include any finance that you have outstanding, your repayment history in respect of those loans, and any defaults. Usually, credit information is exchanged between credit and finance providers and credit reporting bodies.
In addition to credit information, the kinds of personal information we may collect about you include your name, date of birth, address, contact details, account details, occupation, and any other information we made need to identify you.
If you submit inquiries or information using our website we may also collect the type of finance and the amount of finance that you are interested in obtaining, and any information that you provide to us directly through our website or indirectly through use of our website.
If you are applying for finance we may also collect the ages and number of your dependants and cohabitants, the length of time at your current address, your employment details and proof of earnings and expenses. If you apply for any insurance product through us we may also collect your health information. We will only collect health information from you with your consent.
Why we collect your personal information
We collect personal information for the purposes of assessing your application for finance and managing that finance. We may also collect your personal information for the purposes of direct marketing (whether through mail, email or telephone (including SMS/MMS)) and managing our relationship with you. From time to time we may offer you other products and services.
We collect personal information on our website to send communications requested by you and to answer enquiries and provide information or advice to you.
To enable us to maintain a successful business relationship with you, we may disclose your personal information to other organisations that provide products or services used or marketed by us. We may also disclose your personal information to any other organisation that may have or is considering having an interest in your finance, or in our business.
How do we collect your personal information?
Where reasonable and practical we will collect your personal information directly from you. For example, we collect your personal information directly from your use of our website and the information that you submit to the website. We also collect your personal information if you use the “contact us” functionality on our website and you provide the personal information during conversations between you and our representatives.
We may also collect your personal information from our advisers, franchisees, finance brokers and other people such as accountants and lawyers.
You are not required by law to provide any personal information to us but any failure to do so might prejudice any chances of obtaining finance.
Do we disclose your personal information?
We may disclose your personal information:
- to our employees, officers, Myloan advisers and franchisees, related bodies corporate, contractors or service providers for the purposes of operation of our website or our business, fulfilling requests by you, and to otherwise provide products and services to you including, without limitation, web hosting providers, IT systems administrators, couriers, payment processors, data entry service providers, electronic network administrators, debt collectors, and professional advisors such as accountants, solicitors, business advisors and consultants;
- to prospective funders, third parties or other intermediaries in relation to your finance requirements (including a prospective funder’s mortgage insurer (if any), any person with whom a funder proposes to enter into contractual arrangements, any person who provides a guarantee or security and any trustee and any assignee or potential assignee of a funder’s rights);
- to other organisations that are involved in managing or administering your finance such as third party suppliers, printing and postal services, call centres;
- to associated businesses that may want to market products to you;
- to companies that provide information and infrastructure systems to us;
- to anybody who represents you, such as finance brokers, lawyers and accountants;
- to anyone, where you have provided us consent;
- where we are required or authorised to do so by law, such as under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009;
- to investors, agents or advisers, or any entity that has an interest in our business; or
- to your employer, referees, credit reporting agencies, identity verification services or anyone making an enquiry about you that you have authorised.
Credit reporting agencies may hold your credit information (including default information) on their systems and use such information to provide their credit reporting services, which may include providing your credit information (including default information) to their customers.
We will only disclose your personal information in accordance with our obligations under the Privacy Act. Prior to disclosing any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that:
(a) the person or organisation has a commitment to protecting your personal information at least equal to our commitment, or
(b) you have consented to us making the disclosure.
We may use cloud storage to store the personal information we hold about you. The cloud storage and the IT servers may be located outside New Zealand.
Do we disclose your personal information to anyone outside New Zealand?
We may disclose personal information to our Loan Market franchisees and advisers, related bodies corporate and third party suppliers and service providers located overseas for some of the purposes listed above, including the following:
- our data hosting and other IT service providers, located in various countries; and
- other third parties located in various foreign countries, including Philippines & USA.
Your personal information may be stored in the cloud in an overseas country.
From time to time we may use your personal information to provide you with current information about finance, offers you may find of interest, changes to our organisation, or new products or services being offered by us or any company with whom we are associated.
If you do not wish to receive marketing information (whether through mail, email or telephone (including SMS/MMS)), you may at any time decline to receive such information by writing to us at email@example.com. If the direct marketing is by email you may also use the unsubscribe function. 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.
Cookies and IP addresses
While our cookies do not collect personal information per se, if you submit your name and email address as part of your usage, then we will link that personal information with the cookies information that we have previously collected from you.
If you do not wish to receive cookies, you can set your browser so that your computer does not accept them.
As our website is linked to the internet, and the internet is inherently insecure, we cannot provide any assurance regarding the security of transmission of information you communicate to us online. We also cannot guarantee that the information you supply will not be intercepted while being transmitted over the internet. Accordingly, any personal information or other information which you transmit to us online is transmitted at your own risk.
Links and third party advertisements
Our website may contain links to other websites operated by third parties. Our website may also display advertisements, which are hosted by third parties.
We make no representations or warranties in relation to the privacy practices of any third party website or advertisement providers and we are not responsible for the privacy policies or the content of any third party website or advertisements. Third party websites are responsible for informing you about their own privacy practices.
Updating your personal information
It is important to us that the personal information we hold about you is accurate and up to date. During the course of our relationship with you we may ask you to inform us if any of your personal information has changed.
If you wish to make any changes to your personal information, you may contact us. We will generally rely on you to ensure the information we hold about you is accurate and complete.
Access and correction to your personal information
We will provide you with access to the personal information we hold about you. You may request access to any of the personal information we hold about you at any time by contacting us at the details below.
We may charge a fee for our costs of retrieving and supplying the information to you.
Depending on the type of request that you make we may respond to your request immediately, otherwise we usually respond to you within seven days of receiving your request. We may need to contact other entities to properly investigate your request.
There may be situations where we are not required to provide you with access to your personal information, for example, if the disclosure of the information would constitute contempt of court, or if your request is vexatious.
An explanation will be provided to you if we deny you access to the personal information we hold about you.
If any of the personal information we hold about you is incorrect, inaccurate or out of date you may request that we correct 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 seven days of receiving your request. Where reasonable, and after our investigation, we will provide you with details about whether we have corrected the personal information, usually within 30 days.
We may need to consult with other entities as part of our investigation.
If we refuse to correct personal information we will provide you with our reasons for not correcting the information. You will also be entitled to request that there be attached to your personal information a statement of the correction sought but not made.
Using government identifiers
If we collect government identifiers, such as your tax file number, we do not use or disclose this information other than required by law. We will never use a government identifier in order to identify you.
Business without identifying you
In most circumstances it will be necessary for us to identify you in order to successfully do business with you, however, where it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with personal information, for example, if you make general inquiries about interest rates or current promotional offers.
You may choose to interact with our website anonymously, but we will not be able to invite our participating finance brokers to contact you unless you provide your personal information.
How safe and secure is your personal information that we hold?
We will take reasonable steps to protect your personal information by storing it in a secure environment. We may store your personal information in paper and electronic form. We will also take reasonable steps to protect any personal information from misuse, loss and unauthorised access, modification or disclosure. For example, personal information that you submit on our website are stored in electronic systems that have access controls in place.
We will destroy or permanently de-identify personal information if it is no longer required for the purposes for which it was collected.
If you are dissatisfied with how we have dealt with your personal information, or you have a complaint about our compliance with the Privacy Act, you may contact our privacy officer at firstname.lastname@example.org.
We will acknowledge your complaint within seven days. We will usually provide you with a decision on your complaint within 30 days.
If you are dissatisfied with the response of our privacy officer you may make a complaint to the Privacy Commissioner which can be contacted either using the website www.privacy.org.nz or on 04-474 7590 (Wellington) or 09-302 8680 (Auckland).
You may request further information about the way we manage your personal information by contacting us.
We are constantly reviewing all of our policies and attempt to keep up to date with market expectations. Technology is constantly changing, as is the law and market place practices.