Privacy Policy
Peak Cashflow » Privacy Policy
1. WHO WE ARE
Peak Cash Flow Limited is a limited company in England and Wales, registration number 05014392. You can find out more about us and our business at www.peakcashflow.co.uk
This privacy notice (the “Privacy Notice’) applies to all personal information processing activities carried on by Peak Cashflow Limited (‘Peak’) in connection with our business. Personal information refers to information that identifies a natural living person.
The purpose of this Privacy Notice is to let you know how your personal information is collected and processed by us as a data controller and a data processor in connection with our business and how to affect your rights in respect of your personal information.
How we use your personal information will depend on our relationship with you, the products and services that we provide to our Client, of which you are a corporate officer, beneficial owner, member, partner, trustee, other controlling official or proprietor or with whom you have agreed to act as surety, guarantor or warrantor, or where you are a Customer of our Client.
In this notice ‘Client’ means a limited company, limited liability partnership, partnership or sole trader with whom we have made available our products and services and ‘Customer’ means a debtor of the ‘Client’. Reference to ‘you or your’ means individuals who are corporate officers, beneficial owners, members, partners, trustees, other controlling officials, proprietors and references to ‘we’, ‘us’ or ‘our’ are references to Peak.
2. INFORMATION
2.1 THE INFORMATION WE PROCESS
We collect and process information about you, the Client and the Customer at the start and for the duration of our relationship with you and the Client, which is necessary for us to provide our products and services under contract, where we have a legitimate interest or where we are permitted or required to do so by law.
For all our products and services provided to you and the Client we require:
- Your name, address, date of birth and contact details;
- Visual identification documents such as passports or driving licences;
- Information about your credit history including financial information, personal wealth, assets & liability statements, proof of income and expenditure, credit and borrowing history;
To deliver the products and services provided to our Client we will also need information about the Customer including name, address and contact details and any other information which allows us to verify and collect the debts owed by the Customer to the Client. This could also include copy invoices & credit notes, contracts, purchase orders and proof of delivery of product or service.
2.2 COLLECTION OF INFORMATION
Information you provide to us
We collect information that you provide to us directly at the start of our relationship with you and the Client and for the duration of our relationship
- When you complete our application forms;
- When you talk to us on the telephone or in meetings;
- At site visits; the notes we take;
- In written/electronic exchanges with us;
Information we collect from technology used for our products and services
We collect information that you provide to us when you visit our website or use our online applications which may include:
- Online profile information and activity based on your interaction with us and our website and online applications including login information, Internet Protocol (IP) addresses, smart device information, location, online application security authentication, mobile phone network information.
- Cookies and other internet tracking software to collect data whilst you are using our website.
Information we collect from other sources
We collect information from other sources including:
- Third parties who provide services to you and to us (including credit reference agencies, insurers, fraud prevention agencies and government agencies);
- Your Customers;
- Third party intermediaries and introducers;
- That which we obtain from publicly available sources.
2.3 USE OF INFORMATION
We may use or share your information required in accordance with our Purpose of Processing where we have a lawful basis to do so.
Where we have made available our products and services to you and the Client we will use your name, address, date of birth, contact details and any other information provided to us to allow us to check your identity, perform our contract and comply with our legal obligations.
We use information that you have provided to us about your credit history, or that we have received from credit reference and fraud prevention agencies to make credit decisions about the Client, including new applications for funding or increase in funding limits for this purpose we share information with credit reference and fraud prevention agencies. This information is necessary for us to perform our contract to you and the Client, meet our legal obligations and it is in our legitimate interest that we deliver our products and services responsibly.
Where we have made available our products and services to you and the Client we need information from their Customer including their name, address and contact details and any other information such as copy invoices & credit notes, purchase orders, contracts, proof of service/goods delivery. It is in our legitimate interests to verify the debt and ensure that it exists and is collectable and undertake collection activity in accordance with our contract.
To make payments to the Client we will use contact and payment details provided to us. We may give this information to our third-party payment provider to process payments to or from the Client or the Customer. This information is necessary for us to perform our contract with the Client or where you are the Customer using your personal information in this way is in our legitimate interest to collect debts due to us.
2.4 SHARING OF INFORMATION
We might share personal information with third parties in order to perform our contract with you, the Client, and with third-party funders, meet our legal obligations and because it is in our legitimate interest to carry out our business activities (including but not limited to):
- Providers of our IT systems and platforms;
- Providers of our document management services and solutions;
- Our funders, their agents and representatives;
- Credit reference agencies and fraud prevention agencies;
- Insurers for underwriting purposes;
- Our professional advisors (including legal, tax, auditors and accountants;
- Debt recovery agents, Insolvency Practitioners, sheriff officer or bailiff services,
- Where we are required by law, law enforcement agencies, judicial bodies, government bodies, tax authorities or regulatory bodies;
- with other banks, funders or third parties where we are required by law to help recover or trace funds where you are a victim of suspected financial crime or you have agreed for us to do so;
- required for a sale, reorganisation, transfer or other transaction relating to our business;
- Necessary to fulfil our contracts and carry out our legitimate interests or those of a third party and to meet our legal obligations.
We are not responsible for any third party’s use of your personal information which will be governed by their agreement with you and any privacy statement they provide to you.
2.5 INFORMATION RETENTION
We will keep your personal information for the duration of our relationship with you and the Client and for at least 7 years after the termination of that relationship but no longer than is necessary for the purposes we need to use it for.
The reasons we do this are so that we can respond to a question or complaint and to demonstrate that we have given you fair treatment and to comply with regulations for record keeping.
We may keep your information for longer where we are required to do so for legal, regulatory or technical reasons.
3. ADDITIONAL DETAILS
3.1 CREDIT REFERENCE AND FRAUD PREVENTION AGENCIES
We may access and use information from credit reference agencies and fraud prevention agencies in order to:
- Manage and take decisions including assessing you and/or your debtors’ creditworthiness;
- Prevent criminal activity, fraud and money laundering;
- Check and verify the accuracy of the personal information provided to us;
- Trace debtors and recover debts.
The credit reference or fraud prevention agency might add details of our search to their records even if your application does not proceed. We and the credit reference or fraud prevention agency might link your financial records to those of any person to whom you are financially linked which means that each other’s information will be taken into account in future credit applications by you unless one of you files a ‘disassociation’ with the credit reference agencies. We might add details of your or the Client’s facility with us to the credit reference or fraud prevention agency’s records including details of how the facility is being operated, including any default or failure to keep to the terms of the underlying agreement.
If false or inaccurate information is provided and/or fraud is identified or suspected we will pass personal information on to fraud prevention agencies, law enforcement agencies and other organisations who may access and use this information. If a risk of fraud or money laundering is determined then we may stop providing our products and services to you. Any record of any fraud or money laundering risk may result in other parties refusing to provide services, financing or employment to you.
When credit reference agencies and fraud prevention agencies process your information, they do so on the basis that they have a legitimate interest in preventing fraud or money laundering and to verify your identity in order to applicable laws.
3.2 SECURITY
We are committed to ensuring that any personal information held by us is secure. Those processing your information will do so only in an authorised manner and are subject to a duty of confidentiality. We have procedures in place to deal with any data breach and in the event of a data breach, we will notify you and any applicable regulator where we are legally obliged to do so.
4. PURPOSES OF PROCESSING
We will only use and share your personal information where it is necessary for us to do so in order to carry out our business activities and where we have at least one lawful basis.
The purposes for which we will use and share your personal information are outlined below:
| Purpose of processing | Description |
| Consent | We have received your explicit consent |
| Perform a contract | We may process your personal information where we are entering into a contract with you and the Client for the provision of our products and services. This may include the assessing and processing of an application, provision and management of our products and services for the duration of the relationship with you and the Client, including issuing documentation, executing instructions, processing transactions including receiving monies from debtors and making payments to Clients and third parties including our funder. Resolving queries and discrepancies and administering changes. Improving our products and services. If you do not agree to provide us with the requested personal information, it may not be possible for us to continue to provide our goods and services to you. |
| Legitimate Interests | We may process your information where it is in our legitimate interest to do so without prejudicing your interests or rights. We may process your information in the day to day running of our business activities to manage our business and financial affairs and protect our clients and employees. It is in our interests to ensure that our processes and systems operate effectively and that we can continue to operate and provide our products and services to you. This may include monitoring, maintaining and improving business processes, information technology and communications. Ensuring business continuity and disaster recovery processes, managing data security including monitoring online application access, website and telecommunication for the purposes of preventing cyber-attacks, unauthorised access and prevention or detection of crime. Perform financial and regulatory accounting and reporting. Protect our legal rights and interests. Enable a sale, reorganisation, transfer or other transaction relating to our business. We seek to continually develop and improve our products, services and organisation which may require us to process your information in order to send you relevant marketing information, understand your or the Client’s preferences, expectation and feedback to improve and develop. Monitor the performance and effectiveness of our products and services. Assess the quality of our service and provide appropriate staff training. Monitor client complaints for the prevention of process failures. Compensate for client loss, inconvenience, stress as a result of process failure. It is in our interest to manage our risk and determine what products and services we can offer. To protect our business by preventing financial crime we may need to carry out financial, credit and insurance risk assessments, manage and take decisions, carry out credit checks on clients and debtors, share data with credit reference, fraud prevention and law enforcement agencies, trace debtors and recover outstanding debt, risk management and reporting. |
| Legal obligations | We are required by law to obtain certain personal information about you when you apply for our goods and services and for the duration of our relationship. This may include information to confirm and verify your identity, performing checks and transaction monitoring to comply with money laundering, fraud, terrorist financing, bribery and corruption regulations and international sanctions. Assess the Client and Customer creditworthiness and funding suitability. Share data with third parties to help recover funds. Share data with law enforcement, tax authorities or other government and fraud prevention agencies where we have a legal obligation to do so including reporting suspicious activities and complying with court orders. Communicating changes to terms and conditions for the provision of our products and services. Investigating and resolving complaints. If you do not agree to provide us with the requested personal information, it may not be possible for us to continue to provide our goods and services to you. |
5. DATA RIGHTS
Your rights and the applicable circumstances are listed in the table below :
| Your Rights | Your action |
| Access – you have the right to access the personal information we hold about you | If you would like a copy of the personal information that we hold about you please contact our data protection officer at catherine@peakcashflow.co.uk |
| Correction – you have the right to correct or complete inaccurate or incomplete personal information we hold about you | If you believe that the personal information we hold is inaccurate or incomplete you can request that we restrict the processing and rectify the inaccurate information or complete the incomplete information. In the event that you ask us to restrict processing of your information we may have to suspend the operation of the products and services we provide to you. |
| Deletion – you have the right to request that we delete your personal information | You may request that we delete your personal information if you believe that :
In the event that you ask us to delete your information, we may have to suspend the operation of the products and services we provide to you. |
| Restriction – you have the right to request that we restrict the processing of your personal information | You may request that we restrict your personal information if you believe that:
In the event that you ask us to restrict processing of your information, we may have to suspend the operation of the products and services that we provide to you. |
| Portability – You have the right to data portability * | Where you have consented to our processing your personal information or where the personal information is provided for the purposes of entering into a contract with us you have the right to receive the personal information in a portable format. You may request us to provide this to you or to a third party although we are not responsible for the third party’s use of your personal information. |
| To be forgotten – you have the right to withdraw your consent | Where we rely on your consent to process your personal information you have the right to withdraw your consent at any time. |
| Objection – you have the right to object to the processing of your personal information | You have the right to object to us processing your personal information unless we can evidence legitimate grounds for us to do so or where we need to process your information in order to investigate and protect us or others from legal claims. In the event that you object to us processing your information, we may need to suspend the operation of the products and services that we provide to you. In certain circumstances,we may need to restrict or cease processing your personal information or if requested, delete your personal information. |
5.1 SENSITIVE DATA
The law and other regulations treat some types of sensitive personal information as special. This includes information about racial or ethnic origin, sexual orientation, religious beliefs, trade union membership, health data and criminal records. We will not collect or use these types of data without your consent or unless the law allows us to do so. If we do it will only be when necessary for reasons of substantial public interest or to establish, exercise or defend legal claims.
5.2 COOKIES
We may gather and analyse information regarding usage of its website including the domain name, the number of hits, length of time per visit and pages visited. This information maybe gathered using a cookie. A cookie is a small text file placed on your hard drive or our web browser server. You can choose whether or not to use a cookie by altering your browser settings. A cookie will make the use of our website faster and easier.
If you wish to exercise any of these rights or if you have any further queries, please contact our Data Protection Officer, Catherine Thorogood – Catherine@peakcashflow.co.uk
6. AMENDMENTS
Peak reserves the right to modify this Privacy Notice at any time.