Borrower Privacy Policy

Last updated: 19/08/21 5:48 AM IST

Introduction

  • This Privacy Policy explains what we do with your personal data when you visit our platform, website or landing page, when you or your organisation registers as a member of our platform and when we provide services to your organisation through our platform, website or landing page.

  • It describes how we collect, use and process your personal data, and how, in doing so, we comply with our legal obligations to you. Your privacy is important to us, and we are committed to protecting and safeguarding your rights.

  • For the purpose of applicable data protection legislation (including but not limited to the General Data Protection Regulation1 (Regulation (EU) 2016/679) (the “GDPR“) and the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 (the ‘Sensitive Information Rules’) the company responsible for your personal data is Biznow Business Hub Private Limited, with trading office at Office 3 & 5, Varalakshmi Chs. Ltd. Hanuman Road, Vile Parle East, Mumbai - 400057.

  • In order to comply with the requirements of the Sensitive Information Rules, this Privacy Policy provides you with details of the SPDI that we may need to collect from you (including the purpose of the collection, the intended recipients of it and associated contact details).

  • If you agree to provide your consent to the collection and use of SPDI as set out then please provide your consent by accepting digitally the terms of this Privacy Policy and Biznow Business Hub Private Limited Borrower Consent.

  • If you do not agree to provide your consent, Biznow Business Hub Private Limited may not be in a position to process your loan application.

  • We may amend this Privacy Policy from time to time. Please visit this page if you want to stay up-to-date as we will post any changes here.

What kind of personal information do we collect?

  • If you or your organisation registers to use the Services provided on our platform, we need to collect and use information about you or individuals at your organisation in relation to your loan application, in the course of providing you with our Services. This information is likely to include information which is classified as Sensitive Personal Data or Information (‘SPDI’) under the Sensitive Information Rules Depending on the relevant circumstances, we may collect some or all of the information listed below to help us with this:

  • Names of directors, executives or founders of your organisation;

  • Business activities of directors, executives or founders at your organisation;

  • Login details;

  • The GDPR has an effective date and any references to it should be construed to include any national legislation implementing it.

  • Your name;

  • Your telephone number;

  • Your email address;

  • IP address;

  • KYC documents;

  • Income tax filings;

  • Goods and services tax (GST) filings;

  • Financial accounts;

  • Bank statements; and

  • Bureau score (if available).

Why we use your personal data?

We collect and use your personal data for a number of reasons, including:

  • To carry out our obligations to you as a result of any contract entered into between us and you or your organisation.

  • To enable us to provide the analysis and reports requested by you or your organisation.

  • To verify your identity to ensure that you are authorised to access the platform and to protect against unauthorised use and access of the platform.

  • To better understand your preferences to enable us to provide you with a better service and tailored suggestions for your lending or financing needs.

  • To improve your experience of using our platform, for example by analysing your recent search criteria to help us to present the information that is most relevant to you.

  • To notify you about changes to the products and services that we offer and to directly market these products and services to you. We may periodically send promotional emails

  • about new products, special offers or other information which we think you may find interesting using the email address which you have provided.

  • To contact you via email, facsimile, phone or text message, to deliver certain services or information you have requested.

  • To administer our platform for internal operations, including troubleshooting, data analysis, testing, research and statistical and survey purposes.

  • To assist you in assessment suitability for a loan application, in particular to:

    • conduct a credit assessment on you;

    • comply with Biznow Business Hub Private Limited Know-Your-Client (“KYC”) procedures;

    • comply with any potential lender’s KYC procedures;

    • comply with any potential lender’s documentation requirements in relation to loan approval.

  • From time to time, we may also use your information to contact you for market research purposes. We may contact you by email, phone, fax or mail. We may use the information to customize the platform or website according to your interests.

Who do we share your personal data with?

We will share your personal data primarily to ensure we provide you with the most efficient and effective services to you. Unless you specify otherwise, we may share your information with any of the following groups:

  • Lenders that can login in to our platform to download reports on your organisation; Lenders who will consider your loan application;

  • Borrowers, who may be provided with the contact details of someone at the lending organisation;

  • Any members of our group company where this is necessary to complete Biznow Business Hub Private Limited credit assessment analysis and processes, and in accordance with laws on data transfers;

  • Any members of our group company where this is otherwise necessary, and in accordance with laws on data transfers;

  • Tax, audit, or other authorities, when we believe that the law or other regulation requires us to share this data (for example, because of a request by a tax authority or in connection with any anticipated litigation);

  • Third party service providers who perform functions on our behalf (including external consultants and professional advisers such as auditors and accountants, technical support functions and IT consultants carrying out testing and development work on our business technology systems);

  • Third party outsourced IT providers where we have an appropriate data processing agreement (or similar protections) in place;

  • Other third parties who have an association with you (for example, suppliers to your industry) who may wish to provide you with direct marketing information about their products and services; and

  • If Biznow Business Hub Private Limited merges with or is acquired by another business or company in the future, we may share your personal data with the new owners of the business or company (and provide you with notice of this disclosure).

How long do we keep your personal data for?

We will not keep your personal data for longer than is necessary for the purposes for which we collect it unless we believe that the law or other regulation requires us to preserve it (for example, because of a request by a tax authority or in connection with any anticipated litigation).

When it is no longer necessary to retain your data, we will delete the personal data that we hold about you from our systems. While we will endeavour to permanently erase your personal data once it reaches the end of its retention period, some of your personal data may still exist within our systems, for example if it is waiting to be overwritten. For our purposes, this data has been put beyond use, meaning that, while it still exists in the electronic ether, our employees will not have any access to it or use it again.

Legal bases for processing your data

We are allowed to use your personal information where it is in our interests to do so, and those interests aren’t outweighed by any potential prejudice to you. We believe that our use of your personal information is within a number of our legitimate interests, including but not limited to:

  • To administer our platform for internal operations, including troubleshooting, data analysis, testing, research, and statistical and survey purposes

  • To help us understand you better and provide you with better, more relevant services

  • To ensure that our systems run smoothly

  • To help us keep our systems secure and prevent unauthorized access or cyber attacks

  • To drive commercial value

Where you give us your consent to process your personal data

We are allowed to use your personal information where you have specifically consented. In order for your consent to be valid:

  • It has to be given freely, without us putting you under any type of pressure;

  • You have to know what you are consenting to – so we’ll make sure we give you enough information;

  • We seek your consent when you register to use our platform or website. Before giving your consent, you should make sure that you read any accompanying information provided by us so that you understand exactly what you are consenting to.

Visit Sitemap | Date: 6/12/2021