Privacy Policy

This Privacy Policy document outlines an overview of the FinYou (Proprietary) Limited, Registration Number 2012/029445/07 (hereinafter referred to as FinYou) website’s privacy policy. FinYou are committed to maintaining the privacy and security of your personal and private information.

By using our website you agree to be legally bound by these terms, which shall take effect immediately on your first use of our website. If you do not agree to be legally bound by all the following terms please do not access and/or use our website.

We may change these terms at any time by posting changes online. Please review these terms regularly to ensure you are aware of any changes made by us. Your continued use of our website after changes are posted means you agree to be legally bound by these terms as updated and/or amended.

Definitions

In this privacy policy FinYou makes use of the following terms: “Personal information” means any information about an identifiable individual. In terms of the National Credit Act “Consumer credit information” means information concerning— (a) a person’s credit history, including applications for credit, credit agreements to which the person is or has been a party, pattern of payment or default under any such credit agreements, debt re-arrangement in terms of this Act, incidence of enforcement actions with respect to any such credit agreement, the circumstances of termination of any such credit agreement, and related matters; (b) a person’s financial history, including the person’s past and current income, assets and debts, and other matters within the scope of that person’s financial means, prospects and obligations, as defined in section and related matters; (c) a person’s education, employment, career, professional or business history, including the circumstances of termination of any employment, career, professional or business relationship, and related matters; or (d) a person’s identity, including the person’s name, date of birth, identity number, marital status and family relationships, past and current addresses and other contact details, and related matters.

General

This Privacy Policy forms part of and is subject to the FinYou Terms and Conditions that should be read in conjunction herewith as it is incorporated in terms hereof.

What is your Personal Information?

FinYou supplies information that has been submitted to FinYou by online by online users (applicants). There are two methods that FinYou uses to collect personal information online:

  1. Information provided by the user (applicant) – this is the information that the user enters into the form or data fields. Whilst FinYou cannot guarantee the correctness of such detail as it provided by the user (applicant) it does contain “consumer credit information” as set out in clauses (a), (b), (c) and (d) above. It is therefore the online user’s (applicant) responsibility to ensure that the information so provided is accurate.
  2. Information collected from your computer or other electronic device used to access the FinYou website, which includes tracking technologies, such as cookies to provide additional functionality that enables the user to more effectively utilize the website. Whilst such information is not necessarily “consumer credit information” per se, the tracking technology utilized does verify the identity of the online user.

From time to time the information may be used for audit and surveys to improve the services offered by FinYou.

By accessing and using the FinYou website the online user (applicant) hereby consents and agrees to utilize the services offered by FinYou upon the terms and conditions as set out herein.

FinYou limits the collection of personal information to the above and we ensure that our data retention policies are in compliance with the NCA.

Use and Disclosure of Your Personal Information

FinYou acts as intermediary between the online user (applicant) and the eventual financial institution and therefore merely collates the information received and then discloses and shares it with the relevant financial institution, with the consent of the online user (applicant), which consent is hereby given.

In terms of Section 68 of the National Credit Act (NCA), there are certain rights and obligations imposed upon credit/service providers to ensure that consumer credit information and any other information is received, compiled, retained and reported in accordance with the NCA.

Records of consumer credit information must be maintained in accordance with the following standards:

  • Identified by the consumer’s initials or full names, surname and South African identity number or, where no South African identity number is available, by the consumer’s passport number and date of birth, as well as contact and employment details
  • Collected, processed and distributed in a manner that ensures that the record remains confidential and secure
  • Credit providers and other data providers defined in the NCA (collectively “Subscribers” ) who submit data to credit bureaus must take reasonable steps to ensure that the information reported to credit bureaus is relevant, accurate, up to date, complete, valid and not duplicated
  • Credit providers and other data providers who wish to submit default/adverse information to a credit bureau must give the consumer at least 20 business days notice of their intention to do so.

The prescribed purposes for which a report may be issued by a credit bureau on a consumer:

  • Fraud detection and fraud prevention services
  • An investigation into fraud, corruption or theft, provided that the South African Police or any other statutory enforcement agency conducts such an investigation
  • Considering a candidate for employment in a position that requires trust and honesty and that entails the handling of cash or finances
  • Setting a limit of service provision in respect of the supply of goods, services or utilities
  • Assessing an application for insurance
  • Verifying educational qualifications and employment
  • Obtaining consumer information to distribute unclaimed funds, including pension funds and insurance claims
  • Tracing a consumer by a credit provider in respect of a credit agreement entered into between the consumer and the credit provider
  • Developing a credit scoring system by a credit provider or credit bureau

Obtaining Consent

The online user (applicant) hereby consents and agrees to utilizing the services on FinYou on the terms and conditions contained herein.

Security of Your Personal Information

FinYou has strict security measures to secure the personal information of its users/ applicants. FinYou uses firewall technology to protect its data from would-be intruders and has different processes in place to secure our information such as passwords and security codes, encryption of data, antivirus software and physical security measures.

Correcting and Updating Your Information

You, as the online user and applicant, can help us maintain the accuracy of your personal information by notifying us of any changes. FinYou, however, cannot alter the information reported.