We, QuickLoansPoint, are committed to safeguarding the data of borrowers. The purpose of the privacy policy here is to inform “you” (borrowers) what personal data we process and why.
We, QuickLoansPoint, deliver various types of short-term loans to subprime borrowers refused elsewhere. We are neither a banking institution nor a finance company. We are direct lenders and provide every loan deal according to individual affordability and repayment capacity. Adhering to the responsible lending practices, our aim is to provide borrowers with the maximum financial support.
While applying for a loan using our online application form, you provide your personal details such as your name, phone number, email address and date of birth. This information is used to start the loan application process.
During the application process, credit checks are also made which enable us to access information recorded in your credit report. We employ this information to determine your credibility and affordability.
Every time you borrow money from us, we reserve the right to inform credit reference agencies of your on-time payments and defaults. Your name, contact details and the outstanding or defaulted and settled accounts will be shared with them.
Information related to your name and contact details would also be retained by us when you contact us to file a complaint. The data is utilized to obtain feedback to help us improve our services.
Telephonic conversations with our customer care executives will be recorded to investigate complaints and carry out quality monitoring.
Your personal data apart from your credit score and income details you provide is not employed in the decision-making process because all our financial products are subject to automated decision-making.
We work strenuously to ensure that the security of the confidential data is not compromised. We believe in the fact that our prestige is also linked to data protection and privacy and therefore it becomes our first priority. While the risk of malpractices, unlawful activitiesanddata purloinment is exponentially increasing, we take appropriate technical measures to forestall an unauthorized access or processing of data.
We utilise advanced information systems equipped with encryption, anonymisation and classification. Strict protection regulations and techniques to safeguard sensitive information such as your bank account number. Physical access to data is restricted to authorised employees.
Personal data will not be retained forever. The retention period varies by the purpose of using the data. In general, QuickLoansPointretains:
Since we share your personal data with credit reference agencies, which are third parties, we cannot regulate how long they will retain or employ your data.