Privacy Policy - mal - loans by mal for Isle of Man residents

Lender's Privacy Policy

At Monthly Advance Loans Limited, we’re committed to protecting and respecting your privacy. We know that you care about how your information is used and shared and we appreciate your trust in us to do that carefully and sensibly. This notice describes our privacy policy and forms part of our website terms and conditions (“Website Terms”).

By visiting the Website or by submitting information to us via the Website you are accepting and consenting to the practices described in this Privacy Policy.

Monthly Advance Loans Limited

We collect Personal Data from you:
a) When you take a service or product from us
b) When you contact us, or if you have replied to a
communication from us
c) From a third party who passes your data to us so that we can complete a service to you
d) A third party who sells your data

Information we need to assess an application for a loan. This includes:
a) Contact details
b) Date of birth
c) Payment details
d) Bank details
e) Credit commitments
f) Day to day expenses, transactions and payments
from your bank account
g) Email details
h) IP addresses

In order for us to process your data we have to have a lawful basis to do so. We are relying on the following basis to do so:

(a) Consent: you have given clear consent for us to process your personal data for a specific purpose

(b) Contract: the processing is necessary for us to perform our obligations under a contract (loan agreement) you have, or to monitor your performance of your obligations under such a contract or because you have asked us to take specific steps before entering into a contract (loan agreement)

(f) Legitimate interests: the processing is necessary for our legitimate interests or the legitimate interests of a third party unless there is a good reason to protect your personal data which overrides those legitimate interests. We have identified these lawful bases to assess whether we can provide you with a loan, continue to market to you or manage your account

It helps us in the following ways:
a) We can identify you when you contact us
b) We can identify accounts, services and products you may have from us
c) We can offer you other products
d) We can prevent and detect fraud or loss
e) We can check your information with fraud prevention agencies. If you give us false or inaccurate information and we suspect that there may be fraud we will record this
f) We can assess whether you can afford your obligations under a loan agreement. This includes outsourcing such checks to a third party company to conduct such checks or to source such checks from a credit reference agency
g) We can improve your account administration
h) We undertake marketing analysis and customer profiling
i) We can continue to market to you with relevant offers

a) All our staff
b) Third parties including police or government agencies should they request it
c) If any officials request it for legal proceedings
d) Debt purchasers – if we sell your debt
e) Credit brokers or affiliates – if we sell your data
f) Debt collectors if our loan remains unpaid
g) Legal representatives if our loan remains unpaid and we pursue you in court
h) If our company and all of its assets are bought by a third party your personal data will also be transferred to this third party
i) Others to whom we may need to pass on personal data
j) Others whom we may refer you to in order for them to offer you additional financial services
k) Credit reference agencies
l) Third parties who provided us with any outsourcing admin services

These companies process your data:
1. CIFAS
2. TransUnion
3. Credit Resource Solutions Limited
4. Acquired Limited
5. Monthly Advance Loans Limited (UK)
6. Anchor Computer Systems Limited
7. Trustpilot

Loans by mal may contact you via email to invite you to review any services and/or products you received from us [in order to collect your feedback and improve our services [and products]] (the “Purpose”). We use an external company, Trustpilot A/S (“Trustpilot”), to collect your feedback which means that we will share your name, email address and reference number with Trustpilot for the Purpose. If you want to read more about how Trustpilot process your data, you can find their Privacy Policy here – https://uk.legal.trustpilot.com/for-reviewers/end-user-privacy-terms

In order to process your application, we will perform credit and identity checks on you with one or more credit reference agencies (“CRAs”). Where you take services from us we may also make periodic searches at CRAs to manage your account with us.

To do this, we will supply your personal information to CRAs and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRAs will supply to us both public (including the electoral register) and shared credit, financial situation and financial history information and fraud prevention information.

We will use this information to:
• Assess your creditworthiness and whether you can afford to take the product;
• Verify the accuracy of the data you have provided to us;
• Prevent criminal activity, fraud and money laundering;
• Manage your account(s);
• Trace and recover debts; and
• Ensure any offers provided to you are appropriate to your circumstances.

We will continue to exchange information about you with CRAs while you have a relationship with us. We will also inform the CRAs about your settled accounts. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs.

When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders.

If you are making a joint application, or tell us that you have a spouse or financial associate, we will link your records together, so you should make sure you discuss this with them, and share with them this information, before lodging the application. CRAs will also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs to break that link.

The identities of the CRAs, their role also as fraud prevention agencies, the data they hold, the ways in which they use and share personal information, data retention periods and your data protection rights with the CRAs are explained in more detail at https://www.transunion.co.uk/crain. CRAIN is also accessible from each of the three CRAs – clicking on any of these three links will also take you to the same CRAIN document: Transunion – https://www.transunion.co.uk/crain; Equifax https://www.equifax.co.uk/crain Experian https://www.experian.co.uk/crain

You can change your mind at any time by emailing us
enquiries@loansbymal.im

Please email us at DPO@loansbymal.im

We have a very strict policy on protecting your Personal
Data:
a) We make sure we do thorough checks on everyone we work with.
b) We also ensure that you use a secure password to access your account and encourage you to sign off properly when using a shared computer.
c) We use encrypted software.
d) We continually test our systems to see whether it can be penetrated by malicious software and outside third parties looking to steal data. Our regulators expect us to do this to ensure our systems are secure.

Cookies cannot be used to identify you personally and are used to improve services for you, for example through:
a) letting you navigate between pages efficiently
b) enabling a service to recognise your computer so you don’t have to give the same information during one task
c) recognising that you have already given a username and password so you don’t need to enter it for every web page requested;
d) measuring how many people are using services, so they can be made easier to use and that there is enough capacity to ensure that they are fast.

See allaboutcookies.org or www.youronlinechoices.eu to learn more about cookies.

Yes – We have a network of affiliates who we purchase data from. If you have been offered a loan or another service from us and this has come by way of purchasing these details we may have profiled or made an automatic decision on you to make those decisions. We will have sent you a direct link to this privacy policy explaining what we do.

We profile your information so we can market products to you that match your interests

Yes – You can write to us at DPO@loansbymal.im and we will provide you with a copy. You can ask us to amend or erase any of this data.

Yes you can, by emailing us at DPO@loansbymal.im

Yes, we can update our privacy policy without letting you know.

DPO
Monthly Advance Loans Limited
16-18 Finch Road
Douglas
Isle of Man
IM1 2PT
DPO@loansbymal.im
ICO number: R002085
loansbymal.im

© Monthly Advance Loans Limited.
loans by mal
is the trading name of Monthly Advance Loans Limited. Company Registered in the Isle of Man. Company Number 133047C. Registered Office: 16-18 Finch Road, Douglas, Isle of Man IM1 2PT. Data Protection Act R002085. Registered with the Isle of Man Financial Services Authority and the Isle of Man Office of Fair Trading under the Moneylenders Act 1991. Monthly Advance Loans Limited is a consumer credit lender not a broker.

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