PRIVACY POLICY

Digital Messaging & Communications

 

Because of the nature of Avallonn’s peer ecosystem, we will need to communicate with you via email, post, or text, from time to time.  This includes but is not limited to:

  1. Information for new members.

  2. Legal Information about your investing or selling.

  3. Sell, Investment, or Property alerts.

  4. Investment or selling offer updates.

  5. Repayment reminders for foreclosure clients.

 

General Operational Purposes

 

We may collect and use your Personal Information for: statistical analysis; to develop and improve our products; to update your records; to identify which of our, or others', products might interest you; to assess lending and insurance risks; to arrange, underwrite and administer insurance and handle claims; to identify, prevent, detect or tackle fraud, money laundering and other crime; to carry out regulatory checks; keeping you informed about your lending or borrowing and for market research. In addition:

 

  • If false or inaccurate Information is provided and fraud is identified, details will be passed to fraud prevention agencies.

 

  • Law enforcement agencies may access and use this Information.

 

  • We and other organizations may also access and use this Information to prevent fraud and money laundering, for example, when:

    1. Checking details on applications for credit and credit-related or other facilities;

    2. Managing credit and credit-related accounts or facilities;

    3. Recovering debt;

    4. Checking details on proposals and claims for all types of insurance;

    5. Checking details of job applicants and employees;

 

  • Please contact us if you want to receive details of the relevant fraud prevention agencies.

 

  • We may access and use Information recorded by fraud prevention agencies.

 

  • We will keep your Personal Information confidential and only give it to others for the purposes we explained when you applied to us, and:

 

  • If you ask us to or give us your permission to do so;

 

  • To a credit reference agency to check your identity and to prevent fraud (they will also keep a record of your request and use it whenever anyone applies to be authenticated in your name);

 

  • If you are a Borrower, to tell credit reference agencies that you have an account and how you run that account;

 

  • To our agents and subcontractors, acting for us or for Lenders, to use for the purpose of operating the Lending Platform and obtaining payment;

 

  • To investigate, prevent or detect fraud or carry out checks against money laundering;

 

  • To share Information via an organization which provides a centralized application matching service which it collects from and about mortgage and/or credit applications, for the purpose of preventing and detecting fraud;

 

  • To a reputable, licensed credit broker or lender in the event that you apply to borrow money from an Avallonn Investor, your application is declined or the loan monies are otherwise unavailable and we reasonably believe that the credit broker or lender may be able to help you obtain a loan. In these cases, the third party may use your personal information provided via the Avallonn application to perform a soft search with a credit reference agency to check your eligibility for their products. A soft search will not impact your credit rating;

 

  • To trace debtors and recover debt;

 

  • To meet our obligations to any relevant regulatory authority or taxing authority;

 

  • If we have to by law, the law allows it, or it is in the public interest;

 

  • If all of the assets which we use to operate the Lending Platform (or substantially all of them) are acquired by a third party, we may transfer personal information we then hold to that party so that the acquirer can continue to operate the Lending Platform; and

 

  • Each Borrower may be contacted to provide Information that will be used for statistical purposes to assess the effectiveness of our products.

 

  • We will check your details with a fraud prevention agency or agencies, and if you give us false or inaccurate Information and we suspect fraud, we will record this. We and other organizations (including law enforcement agencies) may use, search and access these records to:

 

  1. Help make decisions about credit and credit related services, for you;

  2. Help make decisions on motor, household, credit, life and other insurance proposals and insurance claims, for you and members of your household;

  3. Trace debtors, recover debt, prevent fraud, and to manage your accounts or insurance policies;

  4. Check your identity to prevent money laundering, unless you furnish us with other satisfactory proof of identity;

  5. Checking details of job applicants and employees;

  6. Please email us if you want to receive details of the relevant fraud prevention agencies.

 

  • Any credit reference agency you search through Avallonn will keep a record of any search, and other Lenders may use it to assess applications they receive from you in the future.

 

  • As a general rule, we will give you at least 28 days notice if we decide to file a default on your credit reference file. Notice may not always be given beforehand, however, for example, if we plan to take court action.

 

Customer Information Sharing

 

  1. We may disclose your Personal Information to other Avallonn customers, Investors if it is necessary to enforce any of your Loan Contracts. If you receive such Information, you are not permitted to use it directly, other than in communication with us about your Loan Contracts.

  2. You agree that, in the course of generating and managing your Loan Contracts, and operating Avallonn, the Lending Platform will need to send to Lenders and their assignees or the Borrower, as the case may be, certain transactional Information (for example, unique identifier, loan amount and Repayment details) but not your full name, post code address or payment details. We will not be liable for any use or misuse of transactional data by others, but you must inform us of any misuse of the Lending Platform of which you are aware.

 

Monitoring and Recording

 

Telephone, email, or other communications with you may be monitored, recorded, and stored,

in order to check any instructions given to us, for training purposes, for crime prevention and to improve the quality of our customer service.