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Privacy & security

Privacy policy

We at iwoca Ltd are committed to keeping your information private. This document sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us. Please read the following carefully to understand our views and practices regarding your personal data and how we will treat it.

By providing your information to us you consent to us processing it in the manner and for the purposes described herein. If, and to the extent, you provide personal data relating to any third party to us, you confirm that you have obtained their consent to pass their personal data to us and for us to process it in the manner and for the purposes described herein.

For the purposes of the Data Protection Act 1998 (the "Act"), the data controller is iwoca Ltd of 26 RED LION SQUARE, LONDON WC1R 4AG.

1. What information do we collect about you?

In order to provide you with products and services we need to collect, use, share and store personal and financial information about you. We collect this information when:

1.1 we speak to you on the telephone;
1.2 when you register with the Site;
1.3 when you complete an online application;
1.4 when you send documents to us;
1.5 when you request a service;
1.6 when you indicate that you would like us to keep you up to date about our products and services; or
1.7 when you provide us with access to your accounts and sources of data relating to financial transactions you enter into online we will access and use that information.

2. How do we use your information?

We will use your information to:

2.1 provide our services to you;
2.2 prevent and detect fraud, money laundering and other crime;
2.3 carry out regulatory checks;
2.4 meet our obligations to any relevant regulatory authority;
2.5 develop and improve our services to you and other customers and protect our interests; and
2.6 make sure that our records about you are comprehensive, accurate and up to date.
2.7 to manage our relationship with you including (but not limited) to undertake underwriting collections and servicing activities.

We will retain information about you after the closure of your file for as long as permitted for legal, regulatory, fraud and other financial crime prevention and legitimate business purposes.

We may use your personal information for market research and other marketing purposes, we shall obtain your consent for such purposes at the relevant time.

3. Safeguard of information

We regularly review our security standards and procedures to help prevent unauthorised access to personal information, improper use or disclosure, unauthorised modification and unlawful destruction or accidental loss.

4. Recording of calls

For training purposes, calls with us may be recorded and may be monitored.

5. Credit reference agency and fraud checks

When you apply to us to open an account, we will check our own records, your records at credit reference agencies and the records held by credit reference agencies relating to your “financial associate” (if you have one) i.e. a person with whom you have, or have had, joint personal financial arrangements such as joint accounts or have made joint credit applications, which may be your spouse or partner (not a business partner). We may also, in certain limited circumstances, check the record, including credit details, of other members of your family and if you are a director or partner in a small business, we may also check on your business.

If you are making a joint application or tell us that you have a spouse or financial associate, we will search, link and record information about you both together at credit reference agencies (including any previous and subsequent names). You must be sure that you have your financial associate’s agreement to disclose their information to us and for us to conduct these searches. Credit reference agencies also link your records together and these links will remain on your and their files until such time as you or your financial associate tell the credit reference agencies that you are no longer financially linked and this is accepted by the credit reference agencies.

If you give us false or inaccurate information and we suspect or identify fraud we will record this and may also pass this information to fraud prevention agencies and other organisations involved in crime and fraud prevention.

With the information that we obtain we will:
  • assess this application for credit and/or;
  • check details on applications for credit and credit related or other facilities; and/or
  • verify your identity and that of your financial associate; and/or
  • undertake checks for the prevention and detection of crime, fraud and/or money laundering; and/or
  • use scoring methods to assess this application and to verify your identity; and/or
  • manage your account with us; and/or
  • undertake periodic statistical analysis or testing to ensure the accuracy of existing and future products and services.

Please be aware that any or all of these processes may be automated.

Where you borrow or may borrow from us, we will give details of your agreement and the payments you have made (or failed to make) under it to credit reference agencies. If you borrow and do not repay in full and on time, we will tell credit reference agencies. We may make periodic searches of our own records and at credit reference agencies to manage your account with us, including to assist us in deciding whether to make credit available or to continue or extend existing credit. We may also check at fraud prevention agencies to prevent or detect fraud. If you have borrowed from us and do not make payments that you owe us, we will trace your whereabouts and recover debts.

When credit reference agencies receive a search from us they will:
  • place a search "footprint" on your credit file regardless of whether or not this application proceeds. If the search was for a credit application the record of that search (but not the name of the organisation that carried it out) may be seen by other organisations when you apply for credit in the future; and
  • link together the records of you and anyone that you have advised is your financial associate including previous and subsequent names of parties to the account. Links between financial associates will remain on your and their files until such time as you or they tell the credit reference agencies that you are no longer financially linked and this is accepted by the credit reference agencies.
Credit rating agencies will supply to us:
  • credit information such as previous applications and the conduct of accounts in your name and of your associate(s) and/or your business accounts;
  • public information such as County Court Judgments (CCJs) and bankruptcies;
  • Electoral Register information.
  • fraud prevention information.
When information is supplied by us, to them, on your account(s):
  • credit reference agencies will record the details that are supplied on your personal and/or business account including any previous and subsequent names that have been used by the accountholders and how you/they manage it/them;
  • if you borrow and do not repay in full and on time, credit reference agencies will record the outstanding debt;
  • records shared with credit reference agencies remain on file for 6 years after they are closed, whether settled by you or defaulted.
How your data will be used by credit reference agencies:

The information which we and other organisations provide to the credit reference agencies about you, your financial associates and your business may be supplied by credit reference agencies to other organisations and used by them to:

  • prevent crime, fraud and money laundering by, for example checking details provided on applications for credit and credit related or other facilities;
  • check the operation of credit and credit-related accounts;
  • verify your identity if you or your financial associate applies for other facilities;
  • make decisions on credit and credit related services about you, your partner, other members of your household or your business;
  • manage your personal, your partner's and/or business credit or credit related account or other facilities;
  • trace your whereabouts and recover debts that you owe;
  • undertake statistical analysis and system testing.
How your data may be used by fraud prevention agencies:

The information which we provide to the fraud prevention agencies about you, your financial associates and your business may be supplied by fraud prevention agencies to other organisations and used by them and us to:

  • prevent crime, fraud and money laundering by, for example;
    • checking details provided on applications for credit and credit related or other facilities;
    • managing credit and credit related accounts or facilities;
    • cross checking details provided on proposals and claims for all types of insurance;
    • checking details on applications for jobs or when checked as part of employment
  • verify your identity if you or your financial associate applies for other facilities including all types of insurance proposals and claims;
  • trace your whereabouts and recover debts that you owe;
  • conduct other checks to prevent or detect fraud;
  • we and other organisations may access and use from other countries the information recorded by fraud prevention agencies;
  • undertake statistical analysis and system testing.

Your data may also be used for other purposes for which you give your specific permission or, in very limited circumstances, when required by law or where permitted under the terms of the Act.

6. Third Parties (other than credit reference agencies)

We may share your information with other organisations:

  • to carry out anti-money-laundering and identity checks;
  • if we sell or buy any business or assets, (as we may share your data with the prospective seller or buyer);
  • if we or substantially all of our company assets are acquired by another party, in which case your information will be one of the transferred assets;
  • if we have to share your information to comply with legal or regulatory requirements, or if we have to enforce or apply our Terms and Conditions of Use or our loan agreement with you or need to protect our rights, property or our customers.
  • in the event that you do not satisfy our eligibility criteria and/or we cannot lend to you, we may pass your information including your name, email address and contact details to third parties who we think may be able to assist you. Those third parties may then contact you by telephone or email in order to discuss whether or not they can assist you.

We may also share your information with selected third parties to the extent reasonably necessary in order to enable us to manage our relationship with you.

How to find out more:

You can contact the credit reference agencies currently operating in the UK; the information they hold may not be the same so it is worth contacting them all. They will charge you a small statutory fee.

  • CallCredit, Consumer Services Team, PO Box 491, Leeds, LS3 1WZ or call 0870 0601414
  • Equifax PLC, Credit File Advice Centre, PO Box 3001, Bradford, BD1 5US or call 0870 010 0583 or log on to www.myequifax.co.uk
  • Experian, Consumer Help Service, PO Box 8000, Nottingham NG80 7WF or call 0844 4818000 or log on to www.experian.co.uk

Please contact us at support@iwoca.co.uk if you want to receive details of the relevant fraud prevention agencies.

7. Access to your personal information

You have the right to request a copy of the personal information we hold about you and to have any inaccuracies corrected. In accordance with our Data Protection Policy, we charge £10 for all information requests to cover administration costs. Please address requests to: The Data Protection Officer | iwoca Ltd | 26 RED LION SQUARE, LONDON WC1R 4AG

We want to make sure that your personal information is accurate and up to date. You may ask us to correct or remove information you think is inaccurate.

8. Use of cookies

A list of all cookies listed on this Site and a description of the purposes we use them for is set out below. By using this Site, you consent to us using these Cookies for the purposes listed.

What are they?

Cookies are harmless text files that web servers can store on your computer's hard drive when you visit a website. Cookies enable users to navigate around websites, record which areas of the website have been visited and for how long and (where appropriate) enable us to tailor the content to fit the needs of visitors who have accessed the website. You can find more information about cookies at: www.allaboutcookies.org and www.youronlinechoices.eu. For a video about cookies visit www.google.co.uk/goodtoknow/data-on-the-web/cookies.

Why do we use cookies?

We use Cookies for the following purposes:

  • to monitor and manage Site traffic;
  • if required as a matter of law or regulation, to protect our or our other customers’ rights;
  • for login purposes;
  • to enable us to remember preferences, track visitors and target adverts; and
  • to make the browsing experience on the Site more efficient and enjoyable.

We use both our own (first-party) and partner companies' (third-party) cookies to support these activities.

Allowing us to create a Cookie does not allow us to access your computer and we do not use Cookies to track your Internet usage after you leave the Site.

What cookies do we use?

A list of all cookies listed on this Site and a description of the purposes we like them for is set out below. By using this Site, you consent to us using the Cookies listed below for the purposes listed below.

Cookie Name(s) Type of cookie Purpose
Django session ID Temporary session This is used for authentication purposes and so that we can distinguish you from other users on the website.
Django CSRF Temporary session Protects against cross-site request forgery.
KissMetrics, Optimizely, Google Analytics Analytics We use these services to analyse and improve the performance of our website.
Liveagent Customer support Used for 'livechat' to connect you to one of our customer support representatives.
AdRoll, Flashtalking, Facebook, DoubleClick Advertising Allow us to target the most relevant advertising at you. For instance we may show you fewer adverts if you have already signed up on our website.
Can you opt out from permitting cookies?

Yes, users have the opportunity to set their devices to accept all cookies, to notify them when a cookie is issued, or not to receive cookies at any time. The last of these means that certain personalised services cannot then be provided to that user and accordingly you may not be able to take full advantage of all of the features or services available on our Site.The Help function within your browser should tell you how. Alternatively, for more information about how to block cookies and/or delete them, please visit www.allaboutcookies.org.

9. Other websites

Our site may contain links to other websites. This privacy policy only applies to this site so when you link to other websites, you should read their own privacy policies.

10. Changes

Any changes we may make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by email.

11. Contact

Questions, comments, complains or requests regarding this privacy policy are welcomed and should be addressed to:

The Data Protection Officer
iwoca Ltd
26 RED LION SQUARE, LONDON WC1R 4AG

You also have the right to contact or complain to the Information Commissioner's Office regarding this privacy policy.