Last updated: December 2022
YouLend Limited (“YouLend”, together with its wholly-owned subsidiaries, hereafter “YouLend Group”, “we”, “our”, or “us”) is committed to protecting your privacy. The purpose of this Privacy Notice is to explain how we collect and use personal information in connection with our business.
Depending on the region in which you are located, one of the following YouLend Group companies is responsible for the collection and processing of your personal data:
• UK and European Economic Area (“EEA”) (excluding Germany): YouLend, 90 High Holborn, WC1V 6LJ.
• Germany: YouLend GmbH, Maximilianstr. 54, 80538 Munich, and YouLend, 90 High Holborn, WC1V 6LJ.
Article 27 of the EU General Data Protection Regulation (“GDPR”) requires organisations that are not established in the European Union to designate a representative in the EU if they are subject to GDPR. YouLend Limited and YL I Limited’s representative in the EU is YouLend GmbH.
The processing of personal data is subject to the requirements of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 (GDPR) and the UK Data Protection Act 2018 and any other legislation that replaces the GDPR in the UK.
2. Contact information
Please do not hesitate to contact us with any questions, comments or concerns relating to this Privacy Notice. You may contact us by e-mail to firstname.lastname@example.org. Additional information can be obtained at www.youlend.com.
3. Personal data collected by YouLend
Personal data means information about a living individual who can be identified from that information (either by itself or combined with other information) (the “Data Subject”).
YouLend may collect and process the following personal data:
• Data you give us
You may give us information as part of your, or your businesses’ application, or by corresponding with us by phone, e-mail or otherwise. The information you give us may include your name, address, e-mail address, identification number, financial information, information about any vulnerable circumstances you tell us about, or other personal information.
• Data we collect about you
We will collect details of your transactions with us, including any cards or accounts.
We may collect technical information, including the Internet Protocol (“IP”) used to connect your computer to the Internet, your login information and operating system information.
Telephone calls you make to us may be recorded and these recordings may be used for training purposes, or to meet our regulatory requirements. Any data provided during the call will be used and held in accordance with the provisions of this Privacy Notice.
• Information we receive from other sources
We work closely with third parties (for example, business partners, introducers, sub-contractors in technical payment and delivery services, analytics providers, credit reference agencies and fraud prevention agencies) and may receive information about you from them. This includes information about your background and history, including credit information, and criminal record information as well as information about how you use our products and services.
4. How YouLend use, disclose, and process personal data
5. Automated Processing
In the course of providing products and services to you we may process your personal information by automated means, to include profiling. What this means is that we will use computer software or predictive analysis to automatically evaluate circumstances to identify risks or to predict certain outcomes.
Examples of this type of processing include automatically calculating funding limits, obtaining credit reference checks, and the assessment of account activity to detect and prevent financial crime.
Profiling is a useful tool as we try to understand the Data Subjects who use our services, and their specific needs in more detail. It gives us the opportunity to use personal information to tailor our marketing and product offering but also to ensure that we achieve fair customer outcomes.
You have the right to opt out of profiling for marketing purposes.
6. Storing personal data
By providing you with products or services, we create records that contain your information, such as account records, activity records, and funding records. Records can be held on a variety of media (physical or electronic) and formats.
We manage our records to help us to provide our services (for example for operational reasons, such as dealing with any queries relating to your account) and to comply with legal and regulatory requirements. Records help us demonstrate that we are meeting our responsibilities and to keep as evidence of our business activities.
Retention periods for records are determined based on the type of record, the nature of the activity, product or service, the country in which the YouLend Group company is located and the applicable local legal or regulatory requirements.
We normally keep account records for at least five years after our relationship ends, whilst other records are retained for shorter periods. Retention periods may be changed from time to time based on business or legal and regulatory requirements.
We may on exception retain your information for longer periods, particularly where we need to withhold destruction or disposal based on an order from the courts or an investigation by law enforcement agencies or our regulators.
7. Sharing your personal data
8. Transferring information overseas
We may transfer your information to organisations in other countries (including to other companies within the YouLend Group) on the basis that anyone to whom we pass it to protects it in the same way we would and in accordance with applicable laws.
In the event that we transfer information to countries outside of the UK and EEA (which includes countries in the European Union as well as Iceland, Liechtenstein and Norway), we will only do so where:
• There has been a national-level decision that the country or the organisation we are sharing your information with will protect your information adequately;
• The transfer has been authorised by the relevant data protection authority; and/or
• We have entered into a contract with the organisation with which we are sharing your information to ensure your information is adequately protected.
10. What rights do you have?
Under data protection legislation, you have various rights with respect to your personal data. To exercise your rights, please contact us at email@example.com. Your rights include the right to:
• Question any data about you that you think is incorrect and have us take reasonable steps to correct it for you.
• Be informed about how we process your data.
• Request the erasure of personal data concerning you in certain situations.
• Access personal data and copies (free of charge, where reasonable for us to do so at the time) concerning you collected by us in the course of our relationship with you.
• Withdraw consent for the processing of personal data concerning you for e.g., direct marketing.
• Object to decisions being taken by automated means which produce legal effects concerning you or which similarly may significantly affect you.
• Object in certain other situations to our continued processing of your personal data.
• Otherwise, restrict our processing of your personal data in certain circumstances.
• The right to move, copy or transfer your personal data (where reasonable and proportionate for us to do so).
• The right to complain if you are not happy with the way we have handled your data. If you are unhappy with the way we handle your complaint, you can refer the matter to a supervisory authority:
o In the UK –The Information Commissioners Office (ICO). For more information, visit https://ico.org.uk.
o In the EU – You have the right to lodge a complaint with the supervisory authority in the Member State of your residence. The supervisory authority responsible for the activities of YouLend GmbH is Bavarian State Office for Data Protection Supervision (BayLDA). They can be contacted via firstname.lastname@example.org
11. Changes to this Privacy Notice