1.1 Wollit is the trading name of Wollit Ltd (Wollit/us/we). This Policy describes how Wollit and its affiliates acquire, use and manage your personal information in accordance with the Regulation (EU) 2016/679 (the General Data Protection Regulation or GDPR) with respect to information relating to you that you or third parties provide to Wollit, including information collected or provided via the Wollit App and the Wollit website http://wollit.com (the App and the Website).
1.2 Wollit is a data controller and is registered in the UK with the Information Commissioner’s Office under registration number ZA554988. By visiting and using our App and Website, you acknowledge and agree to the practices described in this Policy.
2.1 We may collect personal information about you when you submit it via the App or the Website and throughout the course of our relationship with you. This information may be given via the App or Website or when you contact us directly, for example through our customer service department, either online, by SMS or by telephone (as our calls may be recorded for training and monitoring purposes).
2.2 Bank transaction data
2.2.1 In order to be eligible for a Wollit account, you must agree to give us access to see your current bank account (your Account) transactions in real time via an open banking facility operated by our partner, TrueLayer Limited (TrueLayer). Open Banking is the secure way to give us access to your Account transaction data; subject to your granting of permission to your bank it is obliged to enable you to share your Account transaction data with us.
You will be required to use TrueLayer and agree to their Terms of Service. The TrueLayer Terms of Service https://truelayer.com/tos/ set out the terms on which you agree to TrueLayer accessing information about your Account for the purposes of transmitting that information to us. TrueLayer operates in accordance with UK data protection laws and is required to treat your data in accordance with those laws, as well as the Terms of Service and TrueLayer’s privacy policy - https://truelayer.com/privacy/. TrueLayer is authorised by the UK Financial Conduct Authority under the Payment Services Regulations 2017 to provide account information services and payment initiation services (Firm Reference Number: 793171).
2.2.2 We will view (but do not have the ability to transact) your Account history in order to:
(a) confirm your income and outgoings;
(b) assess your creditworthiness;
(c) assess your ability to afford the repayments at the point of application and on an on going basis for the duration of the loan facility;
(d) make collection decisions;
(e) monitor your risk of financial hardship/vulnerability; and
(f) assess your ability to enter repayment plans.
2.2.2.1 By subscribing to the Wollit Credit Builder Service you acknowledge that information regarding your rental payments and track record as a tenant, will be shared with Experian Ltd. Experian will add this information to the credit reference data it holds about you and use it as a controller, in accordance with its fair processing notice (a copy of which can be found by following the link below), including so that it can be used to assist other landlords and organisations to: