- Liquid Finance Partners Ltd (“Liquid Finance”) and/or its affiliates (“we”, “our” or “us”) would like to inform you (the “Client”) that your privacy on the internet is of crucial importance to us. The success of our business depends on our ability to maintain the trust of our Clients. During the course of our business, we gather information about our Clients, and we would like to inform our Clients about the type of information we gather, what we do with it and how our Clients can correct or modify the information our Clients entrust us with.
- The processing of personal data is subject to the requirements of the Data Protection Acts of 1998 and 2003. Starting from 25th May 2018, the processing of personal data shall be governed by the General Data Protection Regulation (GDPR).
- Contact information
- Personal data collected by Liquid Finance
- Personal data means any information relating to an identified or identifiable natural person (“Personal Data”). An identifiable natural person is a person who can be identified, directly or indirectly, by reference to the Personal Data (the “Data Subject”).
- Liquid Finance is responsible for all Personal Data collected. As the controller of Personal Data, Liquid Finance determines the purpose and means for usage of Personal Data.
- The purpose(s) of Liquid Finance’s processing of Personal Data relate(s) to the following:
- Client identification, monitoring and reporting in accordance with Money Laundering, Terrorist Funding and Transfer of Funds Regulation 2017 and the EU Money Laundering Directive.
- Authentification of Clients on the Liquid Finance platform
- Credit assessment of Clients applying for financing through Liquid Finance
- Transaction information collected in accordance with applicable law, including EU Regulation on information accompanying transfers of funds
- User experience, website optimisation and communication with Clients
- In addition, Liquid Finance collects Personal Data during the Finance application process as well as during monitoring of transactions relating to the sender and receiver of a transactions. These undertakings are carried out in accordance with Liquid Finance’s obligations under the Money Laundering, Terrorist Funding and Transfer of Funds Regulation 2017 and the EU Money Laundering Directive.
- Liquid Finance collects Personal Data relating to Liquid Finance’s Clients to ensure that Liquid Finance meets its requirements under the Money Laundering, Terrorist Funding and Transfer of Funds Regulation 2017 and the EU Money Laundering Directive.
Such information may include names, dates of birth, social security numbers, tax identification numbers and identification documents on beneficial owners of companies, authorised signatories, officers, directors and other relevant personnel. These pieces of information are mandatory information since they are collected and processed in order to comply with applicable laws and regulations.
Liquid Finance may also collect Personal Data from third parties to verify the identity and information received by the Client as well as to deter, detect, and prevent fraud and illegal activities and conduct a credit assessment in connection with a Client’s application for financing through Liquid Finance. This collection of Personal Data can include a credit reference agency search on the named Client and applicant, including but not limited to directors, beneficial owners and officers, their financial associates and businesses. For the avoidance of doubt, the authorisation to Liquid Finance includes an authorisation to conduct credit reference agency searches on all directors, beneficial owners and officers involved with the named Client as well as any guarantors. A record of these searches will be recorded against all applicants and may be seen by other companies if they carry out a credit enquiry. Thus, these credit reference agency searches might affect the business’ and applicants’ credit score.
In addition, and in order to process your application, where/if we spot you have provided inaccurate data or suspect fraud, personal data will be shared with Credit Rating Agencies.
Liquid Finance may choose to share data with Credit Rating Agencies (CRAs) at the time of application and will communicate with CRAs throughout the Client’s relationship. Regular ongoing data sharing may include:
- Details of the performance of any funded activity provided by Liquid Finance to the Client;
- the Personal Data received may be used to verify identity of applicants, assess risk decisions regarding lending activities, provide a continuous performance share with CRAs and assist in Liquid Finance’s responsibilities in detecting fraud and reporting potential criminal activity.
- The CRAs will also share information about you with Liquid Finance including the performance of various credit activities;
- The CRA may also share your personal information with other organisations.
More information about CRAs and how they use personal information is available at