Fair Processing Notice

What do we do with your data?

All of the personal data we hold about you will be processed by our staff based in the United Kingdom. Personal Data is data that identifies you as an individual.

Your information may be stored on a cloud-based system whose servers are located within the EEA. We take all reasonable steps to maintain the security of your data.

We act in a broking capacity; we are not a lender. To help you achieve the finance you require, we will need to share your data with a lender at the appropriate time. We pride ourselves on our systems and we take great care over how we process customer data, and ensure it is always done safely and securely. We want you to be confident in Neo and be assured that we take the security and privacy of your data seriously.

Neo also believes you should be fully informed about other organisations we may share your data with and have the opportunity to look at how they may handle your information. We have a comprehensive panel of lenders we use. Lender Fair Processing Notices, containing details of how they may use your data can be accessed here:

https://www.tandem.co.uk/privacy-notice

https://www.jnbank.com/privacy-notice

During the processing of your application, your data may be utilised in conjunction with our third-party suppliers for the purpose of identity verification or fulfilment of our marketing communication strategy. We will remain the data controller in all instances.

We may also contact you in the future to discuss your finance requirements or related relevant products. Your preferences around this contact will be obtained during your initial contact with Neo, and you have the right to amend these preferences at any time or withdraw entirely from this service.

We may use data analytics and other systems including AI and automated decision-making to improve our website, products/services, marketing, customer relationships and experiences.

Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your personal data in the same way as set out in this fair processing notice.

 

How long do we keep your data?

Neo is an ICO registered firm, and we need to retain full and detailed records of all of our customer transactions where they have taken place to meet regulatory requirements. We feel it is important to be able to retrieve any of our records for an appropriate time to respond to, or support, customer or regulator enquiries.

Neo has taken the decision to retain customer records on the following basis;

Stage in process	Term of retention	Action by us after term of retention
Customer is declined finance	Retain data for 1 year	Records are deleted
Where finance is obtained via a lending partner	Retain for a total period of the completed product term plus 6 years	Records are anonymised, and all personal data removed

What are your rights?

Importantly you have significant rights as to how Neo, or any business, uses and handles your data. Below is a summary:

The right to be informed and this notice you are reading is intended to provide this for you

The right of access you can always ask to see what data we hold about you

The right to rectification this is saying if you believe any data stored about you is incorrect, you can ask us to correct it, and we will

The right to request erasure or the the right to request to be forgotten we have a legal requirement to maintain customer records (See How long do we keep your data above)

The right to restrict processing you can ask us to restrict the processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios: (a) if you want us to establish the data's accuracy; (b) where our use of the data is unlawful but you do not want us to erase it; (c) where you need us to hold the data even if we no longer require it, as you need it to establish, exercise or defend legal claims; or (d) you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it.

The right to data portability should you want to; we can arrange for your data to be formatted into a simple electronic file and sent to you

The right to object you can object to the processing of your personal data where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on these grounds, as you feel it impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes. In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights and freedoms.

The right to withdraw consent this applies where we rely on consent to process your personal data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide certain products or services to you. We will advise you if this is the case at the time you withdraw your consent.

Rights in relation to automated decision making and profiling you have a right to be made aware of this

You also have the right to make a complaint about how your data has been processed by Neo. In the first instance, you can contact us directly by email compliance@neomoney.co.uk , or by phone 01204 933000. If you are not satisfied with how we respond to your enquiry you do have the right to complain to the Information Commissioners Office (ICO) who is the regulator for data protection in the United Kingdom.

What may other organisations do?

If, with your permission, we pass your data on to another organisation to assist you; any data we have supplied plus any data requested or gathered by that business will be held by that business for the purposes they then set out in their own Fair Processing Notice or Privacy Policy. You are strongly advised to read that businesses guidelines on how they treat your data before entering into any agreement. Neo bears no responsibility for the use of your data beyond our control.