This is the GRID Finance Privacy policy. We have tried to make our privacy policy as easy to use and understand as possible. Of course, if you have any questions please get in touch through our customer care department. GRID Finance is a data controller in line with the Irish Data Protection Acts 1988 and 2003. As data controller we follow the 8 core rules as set down by the Irish data protection commissioner.

Your Personal Information

We will keep your personal information completely confidential. It will only be shared with others for the reasons that we have outlined when you join.

In addition we will only share your information if you give us permission to do so or you ask us to share your information. Other reasons for sharing are:

  • To assess your credit risk with a third party credit reference agency such as Experian or Vision Net
  • To one of our debt collection agencies so that they may secure payment
  • To inform credit rating agencies that you have an account with us
  • To inform credit rating agencies how your account is performing
  • To fulfil present and future regulatory and tax requirements as set down in law
  • To fulfil any present/future law mandating us to share your information
  • To mitigate the risk of fraud by completing some anti-money laundering checks

If GRID Finance is taken over or merged with another organisation your information will be transferred to the acquiring company/organisation To share with another peer to peer lending agencies or credit provider where we believe they may be able to fulfil your loan request when your loan request have been unsuccessful.

We do not share your information with other members of the community lending platform unless you explicitly request that we do so. We have provided a number of security settings to borrowers to help them manage their public profile. The only exception to this is in the event of default where it may be necessary to inform funders of the identity of the borrower to assist with repayment and collection. By using the platform you agree that GRID Finance may share certain transactional data associated with loans entered into on the platform. The sharing of this transactional data will not result in your identity or personal details being shared.

Third Party Liability

In the very specific incidences where data is shared GRID Finance cannot be held liable for any use or misuse of this data. If you become aware of any use/misuse of data you will inform us immediately through the customer care centre.

Banking and Payment information

Our payment provider is Wirecard. When you pay the loan application fee you are directly engaging with Wirecard and your details are processed and controlled by them. They are responsible for compliance with the Payment Card Industry (PCI) data security standard.

Analysing your information

GRID Finance (as Data Controller) may analyse your information for the following purposes:

  • Help us improve your experience on our platform
  • Help us recommend some of our other products that may be suitable for you
  • To identify fraud or money-laundering and other crime
  • To assess your credit-worthiness
  • To fulfil statutory regulations

Email

We know how frustrating it is to receive unsolicited email. Our commitment is to be as email friendly as possible. We will not sell your email address to other commercial entities or advertise the products of other commercial entities to you. We will need to contact you by email for a variety of reasons. These reasons are in general:

  • Set up in the community lending platform
  • Account maintenance and management
  • Loan applications and processing
  • Loan repayments
  • Lodgements and withdrawals
  • Account closure
  • Recommendations of other GRID Finance products suitable for you
  • You can manage your email preferences through the customer care centre

Location of your data

It is our explicit intention to retain your data in Ireland or another jurisdiction within the European Union. However, we may transfer your information to countries whose data protection laws are less strict than Ireland. If so, we will ensure the information is held securely and to the same standards as Ireland and only used for the purposes set out in this privacy policy.

Credit reference agencies

When you apply for a loan on the GRID Finance platform we will perform a credit check with a range of credit reference agencies. They may maintain a record of such a search on their database. If you should fall into default we may record this on your credit file with a variety of credit reference agencies. We are not obliged to give you notice of recording this default on your credit file but we will make every effort to inform you. For these purposes, default is referred to as a payment not received within 1 month of its due date. This is in line with regulated financial institutions.

Access to your personal information

Under the data protection acts 1988 and 2003 you may request access to your personal records. Although there is an indicative charge set down in the acts for such requests it is not envisioned that GRID Finance will charge for requests from customers of the platform. This is subject to review anytime and without notice. You may request access to your personal records by emailing info@grid.finance.

Member content

You agree that none of your Member Content will violate or infringe upon the rights of any third party, including copyright, trademark, privacy, publicity or other personal or proprietary rights; or contain libellous, defamatory or otherwise unlawful material.

In addition:

  • You agree not to use the community lending platform to secure email addresses or other financial, personal or contact information of Members or other users from the Lending Platform by electronic or other means for the purposes of sending unsolicited communications or inviting any person to lend or borrow outside the community lending Platform.
  • You agree not to use the community lending platform for any unlawful activity or to engage in any activity that will reduce the functionality or the ability of other members to use the platform. This includes not engaging in any activity that may collapse the site or impact on the servers on which the site sits.
  • You agree not to use automated scripts or other screen scraping techniques to collect information from the community lending platform;
  • You agree to only register on the community lending platform once and not to use any aliases or alternative/false identities.
  • You agree not to impersonate any person or entity, or falsely state or otherwise misrepresent yourself, your age, your financial employment or personal circumstances or your affiliation with any person or entity; use or attempt to use another's account, service or system without authorisation from us You agree not to solicit any personal information (passwords etc) from anyone under 18 for any commercial or unlawful purposes.
  • You agree not to use the community lending platform to invite members to lend/borrow/transact outside of the platform.
  • You agree not to upload, post, publish, display, transmit, share, store or otherwise make available on the Lending Platform any content that we or any objective third party may deem:
    • o to be misleading, harmful, threatening, unlawful, libellous, defamatory, infringing of any intellectual property rights, abusive, inflammatory, harassing, vulgar, obscene, fraudulent, invasive of privacy or publicity rights, hateful, or racially, ethnically or otherwise objectionable;
    • o to contain software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment;
    • o to be unsolicited or unauthorised advertising, solicitations, promotional materials, "junk mail," "spam," "chain letters," "pyramid schemes," or any other form of solicitation;
    • o to be the private information of any third party, including, without limitation, addresses, phone numbers, email addresses, National Insurance numbers or other identifiers, credit card numbers and/or debit card numbers;
    • o to be an attempt to promote or market any goods or services for your own financial benefit;

You are entirely responsible for the legality and appropriateness of your Member Content. You may not post, transmit, or share other Members Content on the Lending Platform that you did not create or that you do not have permission to display, publish or post either within or outside the community lending platform.

You understand and agree that we may, but are not obligated to delete or remove (without notice) any content that in our judgment violates our values and philosophy as a company. You are solely responsible at your sole cost and expense for creating backup copies and replacing any of your content.

When you post your Member Content, you have authorised us to make such copies thereof as we deem necessary in order to facilitate the publication, display and storage of the Member Content on the community lending platform. By posting Member Content to any part of the community Lending Platform, you automatically grant, and you represent and warrant that you have the right to grant, to us an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to use, copy, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part) and distribute such Member Content for any purpose on or in connection with the Lending Platform, to prepare derivative works of, or incorporate into other works, such Member Content, and to grant and authorise sublicenses of the foregoing.

You may remove your content from the community lending Platform at any time. If you choose to remove your Member Content, the license granted above will automatically expire. You accept that where you have removed your content an archived copy may remain.

You agree to indemnify and hold each other Member, us, our subsidiaries and affiliates, and each of GRID Finance’s directors, officers, agents, contractors, partners and employees, harmless from and against any loss, liability, claim, demand, damages, costs and expenses, including reasonable legal fees, arising out of or in connection with any of your content, your use of the community lending Platform, your conduct in connection with the Lending Platform or with other users of the Lending Platform or of any law or the rights of any third party.

You are solely responsible for your engagement with other members of the community lending platform. We reserve the right, but have no obligation, to monitor and manage disputes between you and other members of the community lending platform. Our cookie policy is an integral part of this document.

IP address

When you visit the community lending platform our servers automatically interpret your domain name and IP address. There is no other personal information interpreted. Interpreting your IP address allows to better manage the platform for all members. This IP information is not shared with third parties unless there is a law enforcement reason to do so.

Cookies

A cookie is a small amount of data, which often includes a unique identifier that is sent to your computer, tablet or mobile phone browser from a website's computer and is stored on your device's hard drive. Each website can send its own cookie to your browser if your browser's preferences allow it, but (to protect your privacy) your browser only permits a website to access the cookies it has already sent to you, not the cookies sent to you by other websites. Many websites do this whenever a user visits their website in order to track online traffic flows.

When you are on the GRID Finance platform cookies tell us how you are engaging with the platform. We use this information to help improve our services to you and to ensure that you have the best customer experience possible on our platform. It also helps us understand what type of device you are using the platform from. This assists us to design the best user interface for each device. It also helps us to recommend certain projects to you on the basis of previous visits.

We use two types of cookies

Session cookies

These cookies help make the customer experience more pleasant. As you move from page to page these cookies prevent you from having to resubmit certain data and they keep you logged into the site. They also support the security of your account by logging you out after 15 minutes of inactivity.

Persistent Cookies

These cookies help us recognize you as a unique visitor. This helps us understand how you are engaging with the site and what type of content you like to view with on the site.

Accepting and rejecting cookies

You can configure your browser to warn you when a cookie is about to be installed from any website. When it warns you, you will have a choice to accept/reject the cookie. Please note that if you reject a cookie it will have a negative impact on your customer experience and the usability of the community lending platform.