‘We’, ‘us’ and ‘our’ refers to Zolve Pty Ltd ACN 642 400 253.
Our obligations under the Privacy Act
We understand our obligations to abide by the Australian Privacy Principles under the Privacy Act 1988 (Cwth).
Any personal information we collect about you will only be used for the purposes we have collected it for. Your personal information is confidential and we recognise that you expect us to treat it confidentially.
When we refer to personal information, we mean information from which your identity is reasonably apparent. This does not include statistical information about multiple borrowers drawn partly from your data.
The kinds of personal information we collect include your name, date of birth, address, email address, mobile number, existing bank account details, occupation, passport number, drivers’ licence and any other information creditors may need to identify you and assess your application.
If you are applying for consumer credit regulated finance, we may also collect the ages, names and number of your dependants.
We also will ask you for credit information, which is used to assess your ability to service loans. This may include your income sources details (employment, dividends, rents, dividends, etc) and monthly expenses. Credit information also includes any finance facilities you currently have in place, your repayment history in respect of those loans, and any defaults. You should be aware that credit information is primarily provided to credit reporting companies by creditors and then made available through searches. This means we may acquire and utilise credit information without you having directly provided it to us.
Why we collect your personal information
We collect personal information for the purposes of assessing your application for finance and where applicable managing that finance facility on behalf of the lender. We 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. We will not share your information with others so they can direct market to you.
If you do not wish to receive marketing information, you may at any time decline to receive such information by emailing us at firstname.lastname@example.org. 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 within a reasonable timeframe.
If you are finance broker who wishes to register on our platform, we will use the information we collect from you to decide whether to accept your application.
To enable us to provide the services described above we may disclose your personal information to mortgage intermediaries, lenders mortgage insurers, lenders, valuers, surveyors, credit reporting bodies, and lawyers. We may also disclose your personal information to an organisation wishing to audit our business, or a prospective purchaser or securitiser of our loan book.
How do we collect your personal information?
We will collect your personal and credit information directly from you. We may also collect your information from mortgage brokers, credit reporting bodies, lawyers, accountants and employers who you authorise to provide this information to us.
To whom do we disclose your personal information?
We may disclose your personal and credit information to:
- prospective funders;
- mortgage intermediaries;
- credit reporting bodies;
- lenders mortgage insurers;
- offshore processing staff;
- companies that provide IT services to us;
- investors in our business;
- prospective investors in our business;
- your lawyer;
- your accountant;
- your financial planner;
- your investors;
- your employer.
We will also disclose your personal information when required to do so under the law. For example, by the Money Laundering and Counter Terrorism Financing Act 2006 or in compliance subpoenae issued by a court.
Prior to disclosing any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that they have a commitment to protecting your personal information at least equal to our commitment and are bound by the Privacy Act 1988.
We use cloud storage to store personal information that we hold. The cloud storage servers may be located outside Australia.
The law requires us to advise you of ‘notifiable matters’ in relation to how we may use your credit related information. You may request to have these notifiable matters (and this policy) provided to
you in an alternative form.
We exchange your credit-related information with credit reporting bodies. We use the credit-related
information that we exchange with the credit reporting body to confirm your identity, assess your
creditworthiness, assess your application for finance or your capacity to be a guarantor and manage
The information we can exchange includes your identification details, what type of loans you have,
how much you have borrowed, whether or not you have met your loan payment obligations and if
you have committed a serious credit infringement.
If you fail to meet your payment obligations in relation to any finance that we have provided or
arranged or you have committed a serious credit infringement then we may disclose this information
to a credit reporting body.
You have the right to request access to the credit-related information that we hold about you and
make a request for us to correct that credit-related information if needed. Please see the ‘Access and
correction’ section of this policy.
Sometimes your credit information will be used by credit reporting bodies for the purposes of ‘prescreening’ credit offers on the request of other credit providers. You can contact the credit reporting
body at any time to request that your credit information is not used in this way.
You may contact the credit reporting body to advise them that you believe that you may have been a
victim of fraud. For a period of 21 days after the credit reporting body receives your notification the
credit reporting body must not use or disclose that credit information. You can contact Equifax Pty
Ltd (equifax.com.au) for more information.
Updating your personal information
You may contact us to ask for access to any of the credit-related information we hold about you at
any time and ask that we correct that information if it is incorrect, inaccurate or out of date.
There may be situations where we are not required to provide you with access to your credit-related
information, for example, if the information relates to existing or anticipated legal proceedings, if
your request is vexatious or if the information is commercially sensitive.
If we deny you access to, or refuse to correct, the credit related information we hold about you, an explanation will be provided 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.
We will ask you to verify your identity before we give you access to your information or correct it,
and we will try to make the process as simple as possible.
Tax File numbers
We will not collect your tax file deliberately. If it is on a document you provide to us we will not disclose it or use it, except as a consequence of sharing the document in accordance with this policy.
How secure is your personal information with us?
We keep the credit-related information that we hold about you secure to ensure that it is protected from loss, unauthorised access, use, modification or disclosure. Your credit-related information will always be stored in a secure environment. Your credit-related information may be stored physically including in paper form or electronically within secure environments and systems that are protected in controlled facilities. Our employees and authorised agents are obliged to respect the confidentiality of any credit-related information held by us.
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 complaints officer by email at email@example.com.
We will acknowledge your complaint within seven days. We aim to provide you with a decision on your complaint within 30 days.
If you are dissatisfied with the response of our complaints officer you may make a complaint to the Office of the Australian Information Commissioner (OAIC) which can be contacted on either www.oaic.gov.au or 1300 363 992.
We may change the way we handle credit-related information from time to time for any reason. If
we do so, we will update this Credit-Reporting Policy. An up-to-date version is available on our