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Who are we?

‘We’, ‘us’ and ‘our’ refer to Electrum Finance Pty Ltd. ABN 66 642 264 079, Authorised Credit Representative 524340. We are an Authorised Credit Representative of Australian Mortgage Advisors Group Pty Ltd (Australian Credit License 388570) located at:

Level 26
44 Market Street
Sydney NSW 2000

Phone: 02 8354 3000
Email: [email protected]

Introduction

We know that how we collect, use, exchange and protect your information is important to you, and we value your trust. That’s why protecting your information and being clear about how we use it is a vital part of our relationship with you. This document sets out our privacy policy commitment regarding the personal information we hold about you and how we use it.

We recognise that any personal information we collect about you will only be used for the purposes for which it was collected or as allowed under the law. Our commitment to personal information is not only to satisfy you but also to comply with the Australian Privacy Principles for the protection of personal information, as set out in the Privacy Act and any other relevant law. Important changes to these laws came into effect on 22 February 2018.

Information we collect

When we refer to personal information, we mean information from which your identity is reasonably apparent.

Information we collect from you

We collect information about you and your interactions with us, for example, when you request a home loan assessment. When you phone us, send us information (e.g., via fax, post, or email), or use our website or mobile applications, we may collect information about you. The information we collect from you may include:

• Your identity and date of birth

• Your contact details

• Your financial details (for example, your income, expenses, assets and liabilities and credit history, etc)

• Other personal details such as your gender, marital status, number of dependents and even health information (for example, for insurance purposes)

• Your financial objectives

Information we collect from others

Where reasonable and practical, we will collect your personal information directly from you. Occasionally, however, we will collect information about you from others, such as service providers, agents, advisers, employers, accountants, solicitors or family members. For example, if you apply for credit, we may need to obtain a credit report from a credit reporting body.

Sensitive information

The Privacy Act also protects your sensitive information, such as health information that is collected on insurance or hardship applications. If we need to obtain this type of information, we will ask for your consent.

How and why we use your information

We collect, use, hold and exchange your personal information so that we can:

  • Establish your identity
  • Assess your current or future requirements for credit, provide you with credit advice, make credit recommendations, manage credit applications with lending institutions we recommend to you, and manage the credit process through to a successful conclusion
  • Manage our relationship with you after the settlement of your loan, and answer any future questions you may have about the service we have provided to you
  • Conduct and improve our business to improve the experience that clients have with us
  • Meet our internal administrative, marketing, planning and research requirements
  • Communicate information to you about the finance industry with a view to trying to keep you well-informed of the marketplace
  • Communicate any updates or changes to the products and services that we provide
  • Provide relevant information to associated financial planners so that they can make recommendations to you in respect of risk insurance products, such as insurance for life, permanent disability, income protection and critical illness cover, investment products and services, superannuation, including self-managed super funds
  • Process and organise client documentation using AI-powered tools to improve administrative efficiency and document management
  • Meet our legal and regulatory reporting obligations

Who we exchange your information with

We use your information for the purposes set out in the section “How and why we use your information” above. We do not sell, trade, or rent your personal information to others.

Where possible, we will inform you, at or before the time of collecting your personal information, of the types of organisations to which we intend to disclose your personal information. We may disclose your personal information to our related bodies corporate, credit representatives, financial advisers, panel of approved lenders, or financial product suppliers and advisers, service providers and agents that we use in the ordinary operation of our business.

We will only disclose your personal information for the purposes outlined in the section “How and why we use your information” above. Prior to disclosing any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that:

(a) the person or organisation has a commitment to protecting your personal information at least equal to our commitment, or

(b) You have consented to us making the disclosure.

Disclosing parties

We may disclose your personal information to:

  • to prospective funders or other intermediaries in relation to your finance requirements (for example, mortgage insurers);
  • to other organisations that are involved in managing or administering your finance, such as third-party suppliers, printing and postal services, call centres;
  • to companies that provide information and infrastructure systems to us;
  • to anybody who represents you, such as other finance brokers, lawyers and accountants;
  • to anyone, where you have provided us consent;
  • where we are required to do so by law, such as under the Anti-Money or Laundering and Counter Terrorism Financing Act 2006 (Cth);
  • to investors, agents or advisers, or any entity that has an interest in our business;
  • to AI service providers that assist us with document processing, organisation, and administrative tasks (such as automated document renaming and filing systems);
  • Organisations that provide products or services used or marketed by us;
  • to your employer, referees or identity verification services; or
  • Those to whom we outsource certain functions, for example, data entry

Disclosure to overseas recipients

Some of the recipients to whom we disclose your personal information may be based overseas. It is not practicable to list every country where such recipients are located, but it is likely that these countries include the United States of America, the United Kingdom, New Zealand, Brazil, and Serbia. These recipients are branch offices or overseas subsidiaries of Australian-based firms and involve assisting us with data entry and back-office processing services. One such firm we use is XSource Holdings Pty Limited, a reputable firm engaged by many Australian finance brokers.

How we store your information

By law, we are required to hold certain information about you, even after you are no longer an Electrum Finance client. We take all reasonable steps to protect your personal information from misuse, loss, unauthorised access, modification or exposure by:

  • Installing security and access requirements for our IT systems, such as passwords, firewalls and virus scanning software
  • Maintaining document storage and destruction policies
  • Providing your personal information to you only when we are satisfied as to your identity

We primarily store your information electronically. Even if you supply us with paper-based information, we will convert those documents to electronic form and either return the paper copies to you or destroy them using our document destruction facilities.

We may use cloud storage to store the personal information we hold about you. The cloud storage and the IT servers may be located outside Australia. We will make every effort to ensure that these servers are hosted by internationally recognised, reputable organisations.

We may use AI-powered tools to assist with document organisation and management. These tools process document content temporarily to generate appropriate file names and organise documents systematically. Document content is processed but not permanently stored by these AI services,
and all processing occurs via encrypted connections. These services are provided by reputable international technology companies with strong data security practices.

We require all staff and credit representatives to maintain the confidentiality of client information. Access to personal information is restricted strictly to employees whose job responsibilities require it.

Access to and correction of your personal information

We will provide you with access to the personal information we hold about you at any time. In such instances, we will provide you with access to that information. To access the personal information we hold about you, please use the contact details below. We will respond to you within seven days of receiving your request. We may need to contact third parties to properly investigate your request. We will provide you with the outcome of your request within thirty days.

There may be situations where we are not required to provide you with access to your personal information, for example, if the information relates to existing or anticipated legal proceedings, or if your request is vexatious.

If any of the personal information we hold about you is incorrect, inaccurate or out of date, you may request that we correct the information. If appropriate, we will correct the personal information at the time of your request; otherwise, we will provide an initial response within 7 days of receiving your request. Where reasonable, and after our investigation, we will provide you with details about whether we have corrected the personal information within 30 days.

We may need to consult with other entities as part of our investigation.

If we refuse to correct personal information, we will provide you with the reasons for our decision.

Direct marketing

From time to time, we may use your personal information to provide you with current information about finance, offers you may find of interest, changes to our organisation, or new products or services being offered by us or any company with whom we are associated.

If you do not wish to receive marketing information, you may decline to receive it at any time by contacting us at the numbers and address outlined in this document. If the direct marketing is by email, you may also use the unsubscribe function. We will not charge you for giving effect to your request and will take all reasonable steps to meet your request at the earliest possible opportunity.

Government identifiers

If we collect government identifiers, such as your tax file number, we do not use or disclose this information other than required by law. We will never use a government identifier in order to identify you.

We make every effort to ensure that, if you send information to us with your Tax File Number on it, we will delete it before sending it to any Disclosing Party. We would appreciate your assistance in this regard by requesting that you delete your Tax File Numbers from any document before sending it to us.

Business without identifying you

In most circumstances, it will be necessary for us to identify you in order to successfully do business with you; however, where it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with personal information, for example, if you make general inquiries about interest rates or current promotional offers.

Contacting us and providing feedback

If you are not satisfied with how we have dealt with your personal information, or you have a complaint about our compliance with the Privacy Act, you may contact the Privacy Officer at Vision Aggregation. They will acknowledge your complaint within seven days of receipt. And they will provide you with a decision on your complaint within thirty days of receipt.

You can make any requests relating to your personal information held by us or any complaints regarding the treatment of your privacy by contacting:

The Privacy Officer

Vision Aggregation
[email protected]

02 8354 3000

Level 26
44 Market Street
Sydney NSW 2000

If you are dissatisfied with the response of our complaints officer, you may make a complaint to the Privacy Commissioner, which can be contacted via the Office of the Australian Information Commissioner website (www.oaic.gov.au) or on 1300 363 992.

Change in our privacy policy

We are constantly reviewing all our policies and attempting to keep up to date with market expectations. Technology is constantly changing, as is the law and marketplace practices.

As a consequence, we may change this privacy policy from time to time or as needed.

You may request this privacy policy in an alternative form.