STATEMENT OF PRIVACY POLICY

outsource Financial pty limited ACN 131 090 705 is a Mortgage Aggregator.  We specialise in providing you with access to (but not limited to) residential loans, commercial loans, asset finance and leasing.

1 Protecting your personal information is important

Here at outsource Financial, we are committed to ensuring the privacy of your information and we understand how important the privacy of your personal information is to you. outsource Financial respects your privacy and is committed to protecting your privacy and as such abides by the Australian Privacy Principles for the protection of personal information, as set out in the Privacy Act 1988 and any other relevant laws.

2 Personal Information

Personal information is information or opinion that allows others to identify you. It includes your name, age, gender, contact details, as well as your occupation and financial/credit information. We will act to protect your personal information in accordance with the Australian Privacy Principles or an industry privacy code.

The information set out below provides an overview of how we will protect your privacy.

3 What personal information we collect about you and why we collect it

In the course of our activities, we collect and hold personal information about you. Your personal information is collected for the purpose of providing you with the product (s) and service(s) you have requested. We will only collect personal information from you that is necessary for one or more of our functions and activities. The nature of personal information we collect from you will depend on what you have requested and provided us with. Generally, the type of personal information we collect includes your name, your mailing address, telephone number, e-mail address, date of birth, marital status, your partner’s name and date of birth, income and other financial details, employment details and credit history.

When we arrange finance on your behalf, we ask you for the information we need to guide and assist you about your finance needs and your borrowing capacity.  We provide any information that the lenders to whom we apply on your behalf require to enable them to decide whether to lend to you and on what terms.

We collect most personal information about you, directly from you. We will only collect personal information from you by lawful and fair means, without being unreasonably intrusive.

At or before the time we collect personal information from you, we will take reasonable steps to inform you why we are collecting that personal information, who else we might disclose that personal information to and what will happen if you do not provide personal information to us. Wherever it is lawful and practicable, we will give you the option of not identifying yourself or not providing personal information when dealing with us. However, failure to provide full and complete information we request may mean that we are unable to provide you with the services you have requested completely and properly.

We also use your information to enable us to manage your ongoing requirements i.e. refinancing and our relationship with you i.e. invoicing, client surveys etc. We may do so by mail or electronically unless you tell us that you do not wish to receive electronic communications.

We may occasionally notify you about new services and special offers, events, or articles we think will be of interest to you. We may send you regular updates by email or by post on finance matters. If you would rather not receive this information, please email, or write to us.

We may also use your information internally to help us improve our services and help resolve any problems.

If you apply to become a mortgage broker with outsource Financial, we will collect information about you to allow us to assess whether you meet the criteria required to become appointed with us. We may also collect information from organisations or people such as referees, credit reporting bodies, Lenders, and other Aggregators. We may provide your information to product providers and other organisations including but not limited to Lenders, Insurers and Lawyers.

Once we hold your personal information, we will take reasonable steps to keep it accurate, complete, and up to date. We will de-identify and destroy the personal information we hold about you once our legal obligations cease.

4 Anti-money laundering and counter-terrorism financing act 2006

To comply with this legislation, outsource Financial must identify and verify new customers. We are required to obtain, verify, and record information that verifies our clients before you can use our services. We are now required to obtain details such as your full name, date of birth and residential address amongst other details for these purposes and we are required to store this information for a minimum of seven years. Information collected for this purpose will not be disclosed, sold, distributed, leased, shared, or passed onto any third party unless we have your consent to do so, we have disclosed to you the types of organisations whom this information would be shared (such as for future identification purposes with a third party you may invest with) or if we are required to do so by law. We will take all reasonable security measures to protect the personal information we hold from misuse, loss and/or unauthorised access, modification, or disclosure. For more information on the anti-money laundering and counter-terrorism financing act 2006, refer to http://www.ag.gov.au/aml.

5 What about sensitive personal information?

In certain circumstances such as when completing a loan application, we will request sensitive information. We will ask you to consent to our proposed uses of the information. Sensitive information is personal information relating to your race, ethnicity, political persuasion, sexual preferences, association membership, health, or criminal record. We may also collect personal information incidentally. By providing us with unsolicited sensitive personal information incidentally, you consent to us using the information subject to applicable laws.

6 How we use your personal information

We will only use the information you provided for the purpose of providing you with the service(s) you have requested. Your personal information will only be used for the main purpose of collection, except where you consent to us using that personal information for another purpose, where the other purpose is related to the main purpose and you would reasonably expect us to use the personal information for that other purpose, or where it is permitted or required by law, or we reasonably believe it is necessary on health and public safety grounds to use the personal information for another purpose.

From time to time, we may also use your contact details for marketing communications activities. We respect your choice to opt out of these activities. Should you decide you do not wish to receive marketing or promotional material from us at any time, please let us know by sending us an e-mail (no spam please) or write to us at 406/19 Roseby St, Drummoyne NSW, 2047 or call us on 1300 781 481.

7 Will we share/ disclose your personal information to outside parties?

We may disclose your personal information to the following types of organisations:

  • banks and other financial institutions;
  • mortgage insurers and values
  • related corporations
  • other organisations which assist us (such as lawyers, accountants, financial planners);
  • to other organisations that are involved in managing or administering your finance;
  • organisations with whom outsource Financial have alliances and arrangements and any agents used by outsource Financial and its business partners in administering such an alliance or arrangement;
  • any other organisation that may wish to, or has acquired an interest in your loan, or in outsource Financials business.
  • We may need to provide your information to contractors who supply services to us, e.g., to handle mailings on our behalf or to other companies in the event of a corporate sale, merger, reorganisation, dissolution, or similar event. However, we will do our best to ensure that they protect your information in the same way that we do.
  • We may provide your information to others if we are required to do so by law or under some unusual other circumstances which the Privacy Act permits.

We do not sell, trade, or rent your personal information to others.

8 Credit information

Credit information may be included in the personal information we collect and hold about you. Credit information may be used to assess your eligibility for finance and may include identify information, any outstanding finance, repayment history for that finance, defaults, and other relevant information.  Credit information is exchanged for the purpose of assessing your eligibility for finance and credit information is usually exchanged between credit and finance providers and credit reporting bodies.

The credit reporting bodies we use include Cashdeck, Equifax Pty Ltd, and Illion Australia Pty Ltd. You can download a copy of their privacy policies at: cashdeck.com.au, equifax.com.au or illion.com.au.

9 What if you do not provide some information to us?

We can only fully assist you with your borrowing capacity and the suitability of a loan if we have all relevant information.

10 How do we hold and protect your information?

We strive to maintain the reliability, accuracy, completeness, and currency of the personal information we hold and to protect its privacy and security. We keep personal information only for as long as is reasonably necessary for the purpose for which it was collected or to comply with any applicable legal or ethical reporting or document retention requirements.

This information may be held by us in electronic form on our secure servers and may also be held in paper form. We may use cloud storage or other types of networked or electronic storage to store the information we hold about you.  As electronic or networked storage can be accessed from various countries via an internet connection, it is 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.  We are not responsible for such disclosure.

We may hold your credit information in paper or electronically on our secure servers.  Cloud storage may also be used to hold your credit information.

11 Disclosure of personal information overseas

We may hold or process your information on servers located overseas for filtering, hosting or storage purposes, reporting and analytical purposes and for system development testing purposes. If we do this, we make sure that such organisations have the appropriate data handling and security arrangements in place to ensure compliance with this Privacy Policy. While these entities are subject to confidentiality or privacy obligations, they may not always follow the particular requirements of Australian privacy laws.

Where your information is sent overseas it is likely to be to one of the following countries:

  • United States
  • Singapore
  • Serbia
  • Philippines

12 How can you access, check, update or change the personal information we are holding?

You can request us to provide you with access to personal information we hold about you. We may allow an inspection of your personal information in person, or provide copies or a summary of relevant documents, depending on what is the most appropriate in the circumstances.

Your request to access your personal information will be dealt with in a reasonable time. Note that we need not provide access to personal information if a request is frivolous, or where to provide access would pose a threat to health or public safety, unreasonable interference with another person’s privacy, or be a breach of the law. If we refuse access, we will provide you with reasons for doing so.

Upon receipt of your written request and enough information to allow us to identify the information, we will disclose to you the personal information we hold about you. We will also correct, amend, or delete any personal information that we agree is inaccurate.

We do not charge for receiving a request for access to personal information or for complying with a correction request.

If you wish to access or correct your personal information, please email info@outsourcefinancial.com.au

13 Your consent

By asking us to assist with your finance needs, you consent to the collection and use of the information you have provided to us for the purposes described above.

14 Notifiable Data Breaches and how we deal with breaches

The Privacy Act 1988 includes a new Notifiable Data Breaches (‘NDB’) scheme (as from 2018) which necessitates us to notify the Office of the Australian Information Commissioner (‘OAIC’) and you of certain data breaches and suggest actions you can take to reduce the impacts of a breach.

The scheme obliges us to notify about a data breach that is likely to result in serious harm to individuals who are affected. Where we have taken appropriate remedial action that removes the risk of serious harm we are not required to notify.

If we do need to notify you, we will notify you and OAIC as soon as practicable about the breach, how you can reduce the impact to your privacy and the steps we are taking.

We will deal with Breaches in an appropriate and timely manner. There may be internal and external actions that need to be taken. In taking any action, we will be guided by steps as suggested by the OAIC on responding to a Breach (whether it is actual or suspected):

Step 1: Contain the Breach and do a preliminary assessment

Step 2: Evaluate the risks associated with the Breach

Step 3: Notification

Step 4: Prevent future Breaches

If you believe that any personal information we hold about you has been impacted by a data breach, you can contact us at info@outsourcefinancial.com.au

A copy of the OAIC’s “Data Breach Notification – a guide to handling personal information security breaches” can be accessed at http://www.oaic.gov.au/privacy/privacy-resources/privacy-guides/data-bre ach-notification-a-guide-to-handling-personal-information-security-breaches.

15 Accuracy

To enable us to keep our records properly, please notify us if you believe that any information, we hold about you is inaccurate, incomplete, or out of date and we will take reasonable steps to ensure that it is corrected. You can notify us by sending us an email (no spam please) to info@outsourcefinancial.com.au or call us on 1300 781 481 and we will take reasonable steps to ensure that it is corrected.

16 Our security procedures

outsource Financial takes your privacy and the privacy of its affiliates and their clients very seriously. We will take reasonable steps to protect any personal information you provide to us from misuse, loss or unauthorised access, modification, and disclosure. We review our security procedures from time to time and update them when relevant.

17 Identifiers

We will not adopt as our own, any Government identifiers you may provide to us such as tax file numbers. We do not use or disclose this information other than as required by law.

18 Links to other sites

outsource Financials website provides links to other sites for you to access. You should be aware that these other sites are not subject to our privacy standards and procedures. You will need to contact them directly to ascertain their privacy standards.

19 Changes to our Privacy Statement

This information relates to our current privacy standards. From time to time, we may vary our privacy standards for any reasons. We will publish any changes on this website. This privacy statement was last amended May 2021.

20 Complaints Resolution

outsource Financial is committed to providing a fair and responsible system for the handling of complaints from parties whose personal information we hold. We will address any concerns you have through our complaints handling process. If you have any concerns regarding the way we have handled your privacy please send us an email at info@outsourcefinancial.com.au or call us on 1300 781 481. However, if you wish to take matters further, you may refer your concerns to the Office of the Federal Privacy Commissioner.

21 More Information

If you seek further information regarding this Privacy Statement or have any concerns about your privacy, please contact our Privacy Officer by: