Privacy Policy

When you trust PeerPower with your personal and credit related information, we know you expect us to protect it and keep it safe.

We are committed to protecting your privacy and will comply with the privacy laws of Thailand. They govern how we collect, store and disclose your personal information and how we ensure it is secure.

What is personal and credit related information?
Personal information relates to information such as your national ID, name, address, contact details, date of birth nominated bank accounts and your tax file number.

Credit related information relates to information about your financial and credit situation and history, e.g., the types and amounts of loans and loan applications, repayment history, requests for information about you from credit providers as well as information that has been derived about you by credit reporting bodies such as the National Credit Bureau.

What kinds of personal information do we collect and hold?
The information we seek to collect about you depends on whether you are an investor or borrower with us. We will always collect your name, address, contact details, date of birth nominated bank accounts and your tax file number. We also collect credit related information about our borrowers.

If you do not provide us with the information we ask for, we may not be able to deliver our services effectively or at all.

How do we use your information?
We use your personal information to provide our products and services to you including the following:

  • Establish your identity and assess your applications for our products and services
  • Price and design our products and services
  • Administer our products and services and manage our relationship with you
  • Manage our risks and help identify and investigate illegal activity, such as fraud
  • Conduct and improve our businesses and improve our customers’ experience
  • Comply with our legal and licensing obligations to regulators

How do we collect personal information?
We collect most personal information directly from you. For example, when you apply for or use a product or service or talk to us in person or on the phone. We ask borrowers to allow us to collect information from their service providers such as banks and we collect information about borrowers from credit reporting bodies.

We collect information about you from others, such as your service providers and agents, advisers, brokers, employers or family members. We may also collect information about you that is publicly available, for example from public registers or social media, or made available by third parties. We will generally only do this with your consent.

We also collect information from you electronically. If you log into the PeerPower website we may collect information from you to confirm your identity. So that we can better tailor information and products to your needs, when we send you email messages, we may use technology to identify you so that we can know when you have opened the email or clicked on a particular link in the email.

How do we hold and manage personal information?
Much of the information we hold about you will be stored electronically through Amazon Web Services Cloud. Some of your information will be stored in paper files.

We use a range of physical and electronic security measures to protect the security of the personal information we hold. For example:

  • Access to information systems is controlled through identity and access management.
  • Employees are bound by internal information security policies and are required to keep information secure.
  • All employees are required to complete training about information security.

Disclosure of personal information
We may disclose your personal information to other PeerPower appointed partners. This includes:

  • Your advisers, agents and service providers and anyone to whom you have agreed we may provide your information
  • Our collection agencies, legal advisers, accountants, auditors and external dispute resolution scheme and any other agents, contractors or external service provider
  • Our investors, but all information provided to investors is de-identified
  • Where we are required or permitted to do so by law.

We require all our service providers to comply with the privacy laws.

Credit related information
When you apply for credit or propose to be a guarantor, we need to know if you’re able to meet payments under your agreement with us. We also want to avoid giving you further credit if this would put you in financial difficulty. One of our checks involves obtaining a credit report about you.

Credit reports contain information about your credit history which helps credit providers assess your credit applications, verify your identity and manage accounts you hold with them. Credit reporting bodies collect and exchange this information with credit providers like PeerPower.

What information do we exchange with credit reporting bodies?
Information that we exchange with credit reporting bodies includes your identification details, what type of loans you have, how much you’ve borrowed, whether you’ve met your loan payments and if you have committed a serious credit infringement (such as fraud).

What do we do with credit-related information?
We use this information to confirm your identity, assess your creditworthiness and application for credit under our criteria, manage our relationship with you and collect overdue payments.Credit reporting bodies with whom we exchange information may include the information in reports they provide to other credit providers to assist them to assess your creditworthiness.

You can obtain a copy of the credit reporting body’s policy about the management of credit-related information by contacting them or from their website.

Accessing, updating and correcting your information
You can ask for access to the personal and credit-related information we hold about you. You can also ask for corrections to be made.

We may charge you for any reasonable costs incurred by us to access your personal or credit-related information.

We can deny or limit access to your personal information if we cannot identify you, the information relates to commercially sensitive of privileged material, or if your request is contentious. Whatever the outcome, we’ll write to you explaining our decision.