Respecting your privacy
We respect your personal information, and this Privacy Policy explains
how we handle it. The policy covers Lyan Finance.
This Policy also includes our credit reporting policy, that is, it covers
additional information on how we manage your personal information collected in
connection with a credit application, or a credit facility. We refer to this credit-related information
below as credit information.
If you are in a country that is a member of the European Economic Area
(EEA), the EU General Data Protection Regulation 2016/679 (‘GDPR’) governs the way we collect, use,
hold, process and disclose your personal information. Under the GDPR, we are a
data controller. We make decisions on how and why your personal information is
processed.
What personal information do we collect and hold?
General
information
The types of information that we collect and hold about
you could include:
·
ID information such as your name, postal or email
address, telephone numbers, and date of birth;
·
other contact details such as social media handles;
·
financial details such as your tax file number; and
·
other information we think is necessary.
When the law
authorises or requires us to collect information
We may collect information about you because we are required or
authorised by law to collect it. There are laws which require us to collect
personal information. For example, we require personal information to verify
your identity under Australian Anti-Money Laundering law.
What do we collect via your
website activity?
If you’re an internet customer of ours, we monitor your use of internet
services to ensure we can verify you and can receive information from us, and
to identify ways we can improve our services for you.
If you start but don’t submit an on-line
application, we can contact you using any of the contact details you’ve
supplied to offer help completing it. The information in applications will be
kept temporarily then destroyed if the application is not completed.
We also know that some customers like to engage
with us through social media channels. We may collect information about you
when you interact with us through these channels. However, for all confidential
matters, we’ll ensure we interact with you via a secure forum.
To improve our services and products, we sometimes
collect de-identified information from web users. That information could
include IP addresses or geographical information to ensure your use of our web applications
is secure.
How do
we collect your personal information?
How we collect and hold your information
Unless it’s
unreasonable or impracticable, we will try to collect personal information
directly from you (referred to as ‘solicited
information’). For this reason, it’s
important that you help us to do this and keep your contact details up-to-date.
There are a number
of ways in which we may seek information from you. We might collect your
information when you fill out a form with us, when you’ve given us a call or
used our website. We also find using
electronic means, such as email or SMS, a convenient way to communicate with
you and to verify your details[1].
How we collect your
information from other sources
Sometimes, we will collect information about you from other sources as
the Privacy Act 1988 permits. We will do
this only if it’s reasonably necessary to do so, for example, where:
· we collect information from third parties about the
loan or lease made available to you arising out of the services we provide you;
· we can’t get hold of you and we rely on public
information (for example, from public registers or social media) or made
available by third parties) to update your contact details; or
· we exchange information with your legal or financial
advisers or other representatives.
What if you don’t want to provide us with your personal information?
If
you don’t provide your information to us, it may not be possible:
· for us to give you
the credit assistance you seek from us;
·
to
assist in finding a loan or lease relevant to your circumstances;
· verify your identity
or protect against fraud; or
· to let you know about
other products or services that might be suitable for your financial needs.
How we collect and
hold your credit information
We will collect
your credit information in the course of you answering the enquiries we make of
you relating to the credit assistance you seek from us. In addition to what we
say above about collecting information from other sources, other main sources
for collecting credit information are:
· your co-loan applicants or co-borrowers;
· your guarantors/proposed guarantors;
· your employer, accountant, real estate agent or other referees;
· your agents and other representatives
like the person who referred your business to us, your solicitors,
conveyancers and settlement agents;
· organisations that help us to
process credit applications;
· organisations that check the
security you are offering such as
valuers;
· bodies that issue identification documents to help us check your identity;
and
· our service providers involved in helping us to process any application
you make for credit through us.
What do we do when
we get information we didn’t ask for?
Sometimes, people
share information with us we haven’t sought out (referred to as ‘unsolicited information’). Where we
receive unsolicited personal information about you, we will check whether that
information is reasonably necessary for our functions or activities. If it is,
we’ll handle this information the same way we do with other information we seek
from you. If not, we’ll ensure we do the right thing and destroy or de-identify
it.
When will we
notify you that we have received your information?
When we receive personal information from you directly, we’ll take
reasonable steps to notify you how and why we collected your information, who
we may disclose it to and outline how you can access it, seek correction of it
or make a complaint.
Sometimes we
collect your personal information from third parties. You may not be aware that
we have done so. If we collect information that can be used to identify you, we
will take reasonable steps to notify you of that collection.
How do we take care of your personal information?
We store
information in different ways, including in paper and electronic form. The
security of your personal information is important to us and we take reasonable
steps to protect it from misuse, interference and loss, and from unauthorised
access, modification or disclosure. Some of the ways we do this are:
- document storage security policies;
- security measures for access to our systems;
and
- only giving access to personal information to a person who is verified to be able to receive that information
We may store
personal information physically or electronically with third party data storage
providers. Where we do this, we use contractual arrangements to ensure those
providers take appropriate measures to protect that information and restrict
the uses to which they can put that information.
What happens when
we no longer need your information?
We’ll only keep your information for as long as we require it for our
purposes. We may be required to keep
some of your information for certain periods of time under law. When we no longer require your information,
we’ll ensure that your information is destroyed or de-identified.
How we use your personal information
What are the main
reasons we collect, hold and use your information?
Collecting your personal information allows us to provide you with
the products and services you’ve asked for. This means we can use your
information to:
- give you credit assistance;
- give you information about loan
products or related services including help, guidance and advice;
- consider whether you are eligible
for a loan or lease or any related service you requested including
identifying or verifying you or your authority to act on behalf of a
customer;
- assist you to prepare an
application for a lease or a loan;
- administer services we provide,
for example, to answer requests or deal with complaints; and
- administer payments we receive, or any payments we make, relating to your loan or lease.
Can we use your information for marketing our products and services?
We may use or disclose your personal information to let you
know about other
products or services we or a third party make available and that may be of
interest to you.
We
will always let you know that you can opt out from receiving marketing
offers.
With
your consent, we may disclose your personal information to third parties for
the purpose of connecting you with other businesses or customers. You can ask us not to do this at any time. We
won’t sell your personal information to any organisation.
Yes, You Can Opt-Out
You
can let us know at any time if you no longer wish to receive direct marketing
offers from us. We will process your request as soon as practicable.
What are the other
ways we use your information?
We’ve
just told you some of the main reasons why we collect your information, so
here’s some more insight into the ways we use your personal information including:
· telling you about
other products or services we make available and that may be of interest to
you, unless you tell us not to;
· identifying
opportunities to improve our service to you and improving our service to you;
· allowing us to run
our business efficiently and perform general administrative tasks;
· preventing any fraud
or crime or any suspected fraud or crime;
· as required by law,
regulation or codes binding us; and
· any purpose to which
you have consented.
What are the grounds which we will deal
with your personal information under the GDPR?
Under
the GDPR, we must have a legal ground in order to process your personal
information. The legal grounds that we may rely on are:
- Performance of our contract with you;
- Compliance with a legal obligation;
- Where you have provided your consent; and
- For our legitimate interests: our main legitimate interests for processing
your personal information are: fraud, security, due diligence, business
operations and direct marketing.
How long do you keep your information?
We are required to keep some of your information for certain periods of
time under law, such as the Corporations Act, the Anti-Money Laundering &
Counter-Terrorism Financing Act, and the Financial Transaction Reports Act for
example.
We are required to keep your information for 7 years from the closure of
accounts, or otherwise as required for our business operations or by applicable
laws.
We may need to retain certain personal information after we cease
providing you with products or services to enforce our terms, for fraud
prevention, to identify, issue or resolve legal claims and/or for proper record
keeping.
Who do we share your personal information
with?
To make sure we can meet your specific needs and for the
purposes described in ‘How we use your personal information’, we sometimes need
to share your personal information with others. We may share your
information with other organisations for any purposes for which we use your
information.
Sharing Your Information
We may use and share your
information with other organisations for any purpose described above.
Sharing
with your representatives and referees
We may share your
information with:
· your representative or any
person acting on your behalf (for example, lawyers, settlement agents,
accountants or real estate agents); and
· your referees, like
your employer, to confirm details about you.
Sharing with third
parties
We may share your information with third parties in
relation to services we provide to you.
Those third parties may include:
· the
mortgage aggregator through whom we may submit loan or lease applications to
lenders or lessors on the mortgage aggregator’s panel;
·
the
Australian Credit Licence holder that authorises us to engage in credit
activities;
·
referrers
that referred your business to us;
·
valuers;
·
lenders,
lessors, lender’s mortgage insurers and other loan or lease intermediaries;
·
organisations,
like fraud reporting agencies, that may identify, investigate and/or prevent
fraud, suspected fraud, crimes, suspected crimes, or other misconduct;
·
government
or regulatory bodies (including ASIC and the Australian Taxation Office) as
required or authorised by law. In some
instances, these bodies may share the information with relevant foreign
authorities;
·
guarantors
and prospective guarantors of your loan or lease;
·
service
providers, agents, contractors and advisers that assist us to conduct our
business for purposes including, without limitation, storing or analysing
information;
·
any
organisation that wishes to take an interest in our business or assets; and
·
any
third party to which you consent to us sharing your information.
Sharing outside of
Australia
We may use overseas organisations to help conduct our business. As a
result, we may need to share some of your information (including credit
information) with such organisations outside Australia. The countries in which
those organisations are located are:
· N/A
We may store your information
in cloud or other types of networked or electronic storage. As electronic
or networked storage can be accessed from various countries via an internet
connection, it’s not always practicable to know in which country your
information may be held. If your information is stored in this way, disclosures
may occur in countries other than those listed.
Overseas
organisations may be required to disclose information we share with them under
a foreign law. In those instances, we will not be responsible for that
disclosure.
Where we transfer your
information from the EEA’ to a recipient outside the EEA we will ensure that an
adequate level of protection is in place to protect your personal information
such as putting in place contractual protections to ensure the security of your
information.
How do you access your personal information?
How you can generally
access your information
We‘ll always give you access to your personal information unless there
are certain legal reasons why we can’t. You can ask us in writing to access
your personal information that we hold. In some cases we may be able to deal
with your request over the phone.
We will give you access to your information in the form you want it where
it’s reasonable and practical. We may charge you a small fee to cover our costs when giving you access,
but we’ll always check with you first.
We’re not always required to give you access to your personal
information. Some of the situations where we don’t have to give you access
include when:
- we believe there is a threat to life or public safety;
- there
is an unreasonable impact on other individuals;
- the
request is frivolous;
- the
information wouldn’t be ordinarily accessible because of legal proceedings;
- it
would prejudice negotiations with you;
- it
would be unlawful;
- it
would jeopardise taking action against serious misconduct by you;
- it
would be likely to harm the activities of an enforcement body (e.g. the
police); or
- it
would harm the
confidentiality of our commercial information.
If we can’t provide your information in the way you’ve requested, we will
tell you why in writing. If you have concerns, you can complain. See ‘Contact
Us’.
How do you correct your personal information?
How we correct
your information
Contact us if you think there is something wrong with the information we
hold about you and we’ll try to correct it if it’s:
- inaccurate;
- out‑of‑date;
- incomplete;
- irrelevant; or
- misleading.
If you are worried that we have given incorrect information to others,
you can ask us to tell them about the correction. We’ll try and help where we
can - if we can’t, then we’ll let you know in writing.
What additional
things do we have to do to correct your credit information?
If you ask us to correct credit information, we will help you with this
in the following way.
Helping you manage corrections
Whether we made the mistake or someone else made it, we are required to
help you ask for the information to be corrected. So we can do this, we might need to talk to others.
However, the most efficient way for you to make a correction request is to send
it to the organisation which made the mistake.
Where we correct information
If we’re able to correct the information, we’ll let you know within five
business days of deciding to do this. We’ll also let the relevant third parties
know as well as any others you tell us about. If there are any instances where
we can’t do this, then we’ll let you know in writing.
Where we can’t correct information
If we’re unable to correct your information, we’ll explain why in
writing within five business days of making this decision. If you have any
concerns, you can access our external dispute resolution scheme or make a complaint to the Office of the Australian
Information Commissioner.
Time frame for correcting information
If we agree to correct your information, we’ll do so within 30 days from
when you asked us, or a longer period that’s been agreed by you.
If we can’t make corrections within a 30 day time frame or the agreed
time frame, we must:
- let you
know about the delay, the reasons for it and when we expect to resolve the
matter;
- ask you
to agree in writing to give us more time; and
- let you know you can complain to our external dispute resolution scheme or the Office of the Australian Information Commissioner.
What to do if you have a dispute or complaint?
We
hope you are delighted with our services, but if you have a complaint please
let us know so we can work towards resolving it promptly and fairly.
Making a complaint to us is free.
You
can make a complaint verbally or in writing by contacting your broker directly
or by using any of the following:
Email: resolutions@blssa.com.au
Phone: 03 9320 1082 or 1800 763 486 (toll free) Monday to Friday 9am to 5pm (AEST)
Mail: BLSSA Advice Complaints, Level 15, 360 Elizabeth Street, Melbourne VIC 3000
Email: resolutions@blssa.com.au
Phone: 03 9320 1082 or 1800 763 486 (toll free) Monday to Friday 9am to 5pm (AEST)
Mail: BLSSA Advice Complaints, Level 15, 360 Elizabeth Street, Melbourne VIC 3000
External Dispute Resolution Scheme
If we do not reach an agreement on your complaint, you may refer the complaint to an ASIC Approved External Dispute Resolution (EDR) Scheme. Our external dispute resolution provider is the Australian Financial Complaints Authority (AFCA).
If we do not reach an agreement on your complaint, you may refer the complaint to an ASIC Approved External Dispute Resolution (EDR) Scheme. Our external dispute resolution provider is the Australian Financial Complaints Authority (AFCA).
You can contact AFCA using any of the following:
Online: www.afca.org.au
Email: info@afca.org.au
Telephone: 1800 931 678 (toll free)
Mail: GPO Box 3, Melbourne Vic 3001
External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. You may refer the matter to AFCA at any time, but if our internal process is still in progress, they may request that our internal processes be completed before considering the matter further.
You can obtain further details about our dispute resolution procedures and obtain details of our privacy policy on request.
What additional
things do we have to do to manage your complaints about credit information?
If your complaint relates to how we handled your access and correction
requests
You may take your complaint directly to our external dispute resolution
scheme or the Office of the Australian Information Commissioner. You are not required to let us try to fix it
first.
For all other complaints relating to credit information
If you make a complaint about things (other than an access request or
correction request) in relation to your credit information, we will let you
know how we will deal with it within seven days.
Ask for more time if we can’t fix things in 30 days
If we can’t fix things within 30 days, we’ll let you know why and how
long we think it will take. We will also ask you for an extension of time to
fix the matter. If you have any concerns, you may complain to our external
dispute resolution scheme or the Office of the Australian Information
Commissioner.
Letting you know about our decision
We’ll let you know about our decision within 30 days or any longer agreed
time frame. If you have any concerns, you may complain to our external dispute
resolution scheme or the Office of the Australian Information Commissioner.
Your Rights under GDPR
If you reside in the EEA, you can also:
- object to the processing or your personal
information or ask us to delete, or restrict or stop using your personal
information. There may be
circumstances where we are required to, or entitled to retain or continue
using your information.
- withdraw your consent to our processing of
your information. We may continue
to process our information if we have another legitimate ground to do so.
- ask us to send an electronic copy of your
personal information, including to another organisation.
You can contact us if you wish to exercise these rights. See ‘Contact Us’ for more information If we refuse any request you make in relation
to these rights, we will write to you to explain why and how you can make a
complaint about our decision.
Contact Us
We care about your privacy. Please contact us if you have any questions
or comments about our privacy policies and procedures. We welcome your feedback.
You can contact us by using the details below:
Phone: 02 9744 0237
Email: info@lyan.com.au
If you have general enquiry type questions, you can choose to do this
anonymously or use a pseudonym. We might not always be able to interact with
you this way, however, as we are often governed by regulations that require us
to know who we’re dealing with. In general, we won’t be able to deal with you
anonymously or where you are using a pseudonym when:
·
it is impracticable; or
·
we are required or authorised by law or a court/tribunal
order to deal with you personally.
What do we do with government-related identifiers?
In certain
circumstances we may be required to collect government-related identifiers such
as your tax file number. We will not use or disclose this information unless we
are authorised by law.
Changes to this
Privacy Policy
This Policy may change. We will let you know of any changes to this
Policy by posting a notification on our website, correspondence via post or
e-mail or you may contact us for a copy of the most up to date policy at any
time.
[1] However
we’ll never ask you for your security details in this way – if you are ever
unsure, just contact us