Privacy Policy

Last updated: 24^th May 2022

1. Introduction

The Data Protection Act 2018 (DPA) and the General Data Protection Regulation (GDPR) define that companies and individuals who process and retain personal information about their customers must inform those customers how the information will be used.

We are committed to protecting and respecting your privacy and this policy explains how we will use your personal data. It is important that you read our Privacy Policy in full to understand why we collect information from you and how we use your information. Our Privacy Policy should be read together with our Terms and Conditions.

2. Who Are We?

2.1 Our company

Loanza ® is a registered trading name of Stop Go Networks Limited, a firm registered in Scotland (Company number SC380072). We are directly authorised by the Financial Conduct Authority (firm reference number 729572) and licensed by the Information Commissioner's Office (registration number Z2282935) to hold and process personal data on behalf of our customers.

2.2 Our service

When you search for a loan with us, a soft search (i.e. check to determine how likely you will be able to repay the credit) will be carried out on your credit file to match you with the most suitable lender(s) or broker(s) ("Partners") on the panel. These Partners may also carry out a soft search to assess your eligibility for the product you are applying for. These searches will only be visible to you and they will not affect your credit rating.

If your loan search is successful, you will either be re-directed immediately to a Partner's website to complete your application, or we may present you with loan offers that you could be eligible for. If you continue with any of these offers, you will then be taken to our Partner's website to complete your application.

Personal Loans & Car Finance:
Our aim is to help find you offers for loans. We sort these offers based on our "Recommended" algorithm which includes factors such as the likelihood of our lender partners being able to fund a loan to the borrower, chance of approval and the rate being offered. Once any offers are displayed, you will then have the option to sort your offers based on total repayment, monthly repayment or APR. If you decide to take a loan via Loanza and are approved by your chosen lender (subject to further lender checks), they will pay us a commission. This does not influence the quotes that we provide you with or the order they are displayed in.

In all cases, our Partners will provide you with the terms and conditions for your loan offer. You should also ensure that you read their Privacy Policy as we are not responsible for how they use your personal information. Our Privacy Policy only explains how we will process your information. If you proceed with your application, they will also carry out their own identity and validation checks (such as fraud prevention checks, affordability assessment and credit application checks), following their own criteria. Any full credit check, (also known as a "hard" search), carried out by any of our Partners will be visible on your credit file to any other lender in the future.

3. Your Data

3.1. What personal data do we collect?

We collect various personal data from you in a number of different ways:

• When you complete our application form we require you to provide your name and address, contact details including telephone numbers and email address, employment and salary details, expenditure and banking details.
• When you send us messages we collect your name, email address and phone number and all correspondence we exchange.
• Whenever you use our website we collect information including your IP address, operating system and browser type.

3.2. Why do we collect this information?

When you submit your personal data we collect this information so we can give you the best possible service. We will try and introduce you to a lender, broker or alternative solution provider, according to your request, and to comply with certain financial services regulations. The information is required to:

• Enable us to provide your information to lenders, brokers or alternative product providers.
• Validate your identity.
• Help us to find you the most appropriate product(s).
• Enable us or the product provider to contact you regarding your application.
• Enable the product provider to access your credit history.
• Reduce the likelihood of fraudulent activity or money laundering.
• Enable us to contact you regarding your enquiry.

3.3. Who might we share your information with?

In order to perform our service, we need to share your information electronically with the following third parties, operating as data controllers or data processors:

• Personal loan providers
• Short term loan providers
• Guarantor loan providers
• Credit brokers
• Car Finance loan providers
• Car Finance credit brokers
• Credit Referencing Agencies (CRAs)
• Identity and Verification service providers
• Data aggregation companies
• Credit report and scores services
• Personal data monitoring services
• Government agencies
• Energy switching

We collect your personal data and will share it for commercial gain with these third parties in an electronic form. These third parties may use this personal data where they have a lawful reason to do so, which may include these organisation's own legitimate interest.

These third parties may disclose all personal data included in the loan application and loan repayment details to your credit record.

In order to provide you with the service, these third parties may contact you by sending you service messages via SMS, email or automated calls. Please note, this means that you may receive a number of approaches from different lenders, as well as the above listed other service providers.

The information disclosed may be stored and used by these third parties for the following purposes: assessing the risk to grant credit; preventing fraud and money laundering (including to verify your identity and to trace debtors); carrying out research such as analysis of market trends and customer demographics; customise and develop the product/service which they offer to you or other individuals in the future.

The CRAs have produced a standard Credit Reference Agency Information Notice (CRAIN), which sets out how data will be processed by the three CRAs and how each can be contacted:

• Experian: www.experian.co.uk/crain
• Equifax: www.equifax.co.uk/crain
• Call Credit: www.callcredit.co.uk/crain

3.4. Marketing

With your explicit consent, we may use your personal data to provide you with information about related products and services which may be of interest to you.

With your explicit consent we may also share your personal information in an electronic form for marketing purposes to third parties offering related products and services which we think may be of interest to you:

• The list of related products and services are: auto finance, banking, credit cards, credit score, insurance, short-term loans, and personal loans.

You have a legal right to prevent your information being used for direct marketing purposes and can withdraw your consent by clicking unsubscribe on any of the emails you receive and replying STOP to any of the texts you get.

3.5. Data security and retention

We understand that the privacy and security of your personal data is of great importance and therefore we have implemented technology, security policies, rules and controls to protect your information.

We and our third parties will only retain personal data for as long as necessary. In accordance with legislation, personal data related to loan applications may be retained for up to six years.

Personal data related to requests to be removed from marketing lists will be retained indefinitely.

3.6. Where will your personal data be held?

Your personal data may be held within the European Economic Area (EEA) or outside the EEA. If any personal data is transferred or stored outside of the EEA, we check whether the EU Commission has determined that it will be afforded the same level of protection as it would within the EEA (this is called an adequacy decision).

4. Your Rights

4.1. Right to access

You have the right to access the personal data we hold about you. You can request this by using our contact page. We may charge a fee for manifestly unfounded or excessive requests.

4.2. Right to rectify your personal data

If you notice that the information we hold about you is not correct, you may ask us to change it to make sure that it is accurate and up to date. You can request this by using our contact page.

4.3. Right to be forgotten

You may ask us to delete your personal data. It may not be possible where we are required to retain your data. You can request this by using our contact page.

4.4. Automated decisions

We use automated algorithms to process the personal data you provide to us to select a lender, broker or alternative solution provider.

4.5. Other rights

You may also ask us to stop or restrict our processing of your personal data or to transfer your personal information to a third party in certain circumstances. You can request this by using our contact page.

4.6. The right to lodge a complaint with a supervisory authority

You have the right to lodge a complaint with us directly and/or with a supervisory authority. In the UK the relevant authority is the Information Commissioner's Office (ICO). You can find their contact details here: https://ico.org.uk/global/contact-us/

5. Use of Cookies

We use cookies to ensure the correct operation of our website. In addition, we use cookies to help us analyse the traffic on our website and customer behaviour. Whilst visiting our website, any pages you choose to view will download cookies onto your computer. Cookies are a good way of helping us measure and assess our visitors and their own profiles, which then enables us to offer our customers a better service. For more information, please read our Cookie Policy.