Data Protection Notice
1. Introduction
This Privacy Notice outlines the information practices of LendWell, a Data Controller. We are committed to safeguarding your privacy and the confidentiality of your personal data. We ensure that all personal information is processed in compliance with relevant data protection laws, including the Data Protection Acts (1998, 2003, and 2018), the General Data Protection Regulation (GDPR), and any subsequent legislation.
We have implemented robust security measures in line with industry standards to protect the confidentiality, integrity, and availability of your personal data. Additionally, our staff undergo annual training to stay informed about our data protection obligations.
We take your privacy seriously, and this notice explains how we handle your personal data, including the rights of customers, prospective customers, and former customers ("Data Subjects").
2. Privacy Risk Assessment
We continuously assess the types of personal data we process and the methods by which it is processed. We evaluate the risks associated with each data type and take steps to minimize risks of loss, accidental damage, or unlawful processing. We also assess the privacy practices of third parties with whom we share data to ensure compliance.
3. Information We Collect
LendWell may collect personal data directly from you, your agents, or from other sources including:
Your employer (where relevant)
Public sources such as company directories or third-party data processors (with consent)
Searches for compliance with regulatory requirements (e.g., anti-money laundering checks, credit assessments)
The data we collect may include your name, contact details (address, email, phone number), date of birth, gender, marital status, financial information, employment details, and other relevant information regarding your interactions with our platform. We may also collect sensitive data (e.g., health information) when necessary, and any personal data of individuals, such as family members.
4. Use of Your Data
We process personal data to provide our services, including:
Assessing your financial needs
Presenting data to lenders or insurers for quotes and cover
Processing claims
Managing fraud prevention and compliance checks
Handling inquiries and complaints
We ensure that any data processing is carried out based on:
A contractual obligation
Your consent
A legal requirement
Legitimate interests (with respect to your rights)
We may also process sensitive data, such as health or criminal conviction data, when required for legitimate business purposes like providing services or processing claims.
5. Data Sharing
LendWell may share personal data with trusted partners to offer related products or services. This may include:
Your agent or advisor
Service providers (insurers, legal firms, IT support)
Regulatory bodies (e.g., the Data Protection Commissioner)
Law enforcement or other authorities as required by law
We will not share sensitive data, such as health or criminal records, without your explicit consent unless required by law.
6. Marketing
Existing customers: We may contact you with offers or updates about services that may interest you, based on legitimate business interests.
Former or prospective customers: We retain your data for up to three years to stay in touch and provide updates or offers related to your past interactions with us.
7. Opting Out of Marketing
You can opt out of marketing communications at any time. You will be reminded of your right to opt-out each time we send marketing material. You can choose to stop receiving all marketing or select specific types of communication.
8. Disclosure of Personal Information
We only disclose your personal data to third parties when it’s necessary to fulfill our services. We also may need to share data with regulatory bodies, auditors, or when required by law.
We retain your data for a minimum of seven years to comply with legal, contractual, or regulatory obligations. After this period, your data may be securely erased.
9. Your Rights
You have the right to:Know how your data is processedAccess your personal data (free of charge, unless excessive)Rectify inaccurate or incomplete dataRequest the deletion of your personal data where no longer neededRestrict processing under certain conditionsReceive your data in a transferable format for portabilityObject to processing, especially where your rights override our legitimate interestsIf you wish to exercise any of these rights or have concerns about your data, please contact us directly.
