Scope

Frollo, as an Accredited Data recipient, provides financial services that can access your personal banking information securely via the governments’ Open Banking initiative. The rules for Open Banking are defined by the Consumer Data Right (CDR) which aims to provide greater choice and control for Australians over how their data is used and disclosed.

Collection of your personal banking data

Frollo adopts a data minimisation approach and only collects banking information that is necessary to provide its financial services, such as Personal Financial Management and Financial Passport to provide a view of your financial position.

There are no fees for accessing your personal banking data and Frollo does not accept consumer requests to access any additional data such as voluntary product or consumer data that the bank may have but not obligated to supply under the CDR rules.

All data collected, with a person’s consent, is used in providing Frollo personal finance services. In this context, data which Frollo will access for the duration of the consent is:

Frollo will collect and use your data in accordance with the purpose of the service we are providing. CDR data is held and stored on your behalf in secure systems, located in Australia. Frollo processes your data to create personal insights about the information contained in your CDR data, which is then presented back to you. We do not share this information with anyone else without your consent.    

Frollo provides a consent dashboard for the management of your consents which includes a receipt of the consent, its scope and duration with a summary of the data received. You can revoke your consent at any time from the consent dashboard.

Classes of CDR data

The following classes of data are held by Frollo and used to provide financial services through its mobile app and Web applications:

Account Information

Transaction Details

Other services we offer might provide you with the option to choose whichever types of data you like, including those shown below. We’ll always tell you if we need a particular type of information to deliver our service to you.

Contact Details

Direct Debits

Scheduled Payments

Payees

Purposes of CDR data

Account information, transaction and contact details are collected and used by Frollo in accordance with the following services.

  1. Personal Financial Management uses this information to provide users with insights about where their money is going, and tools to manage their money more effectively. This includes a financial statement providing a view of your money in and money out.
  2. Financial Passport uses this information to provide insights on your finances, producing a detailed Financial Passport that can be used when applying for loans
  3. We analyse non-identifiable statistical data to help us improve our service and user experience, and to ensure we’re building products that have a positive impact on the financial wellbeing of our users
  4. We also derive insights such as consumer spending by category and changing patterns in savings balances that we hold as non-identifiable statistical data to understand financial trends across our customer base. We publish these trends on our website.

Disclosure

To provide a positive consumer experience and ensure consumer control over their data, Frollo does not provide information to third parties to engage in direct marketing. We may send information to customers from time to time relating to products and services that can assist with their financial goals and general financial wellness.

Frollo employs stringent up to date information security practices and does not disclose or use your personal data (including banking data) for commercial purposes or any other purpose other than the purpose for which you provided consent. 

Outsourced service providers

Frollo does not provide CDR data to any outsourced providers. Frollo develops and maintains its own software for use with banking data collected under the CDR Rules.

Accessing and correcting your personal information

A user can request correction of their data through the contact us channels listed below.

Sufficient details must be provided to assess the issue and make corrections. Once assessed, notice is given over email that states what Frollo did in response to the request, any corrective action or comments, and the ability to make a complaint if not satisfied.

How to contact us

You can contact us by email at any time in the app, or through the website (frollo.com.au) at [email protected]

How to make a complaint

If you are dissatisfied with Frollo’s products, services, staff or the handling of a complaint, please submit your complaint via email to [email protected].

Please include the following information when submitting your complaint.

A CDR complaint can be made at any time. Once your complaint is received, Frollo will immediately acknowledge receipt of the complaint within one (1) business day of being received.

Frollo will investigate your complaint and attempt to provide you with a written response to resolve the complaint, within fifteen (15) calendar days of receipt of your complaint.

When the complaint is resolved, you will receive a ‘final response’ letter within 30 days, informing you of:

  1. the final outcome of your complaint or dispute;
  2. your right to take their complaint or dispute to External Dispute Resolution; and
  3. if you are not satisfied with the response, you may lodge a complaint with the Australian Financial Complaints Authority.

If your complaint remains outstanding within thirty (30) days, Frollo must write to you to:

  1. inform you of the reasons for the delay;
  2. specify a date when a decision can be reasonably expected;
  3. informs your of your right to take your complaint or dispute to an External Dispute Resolution; and
  4. if you are not satisfied with our response, you may lodge a complaint with the Australian Financial Complaints Authority.

How to contact the Australian Financial Complaints Authority

Online: www.afca.org.au

Email: [email protected]

Phone: 1800 931 678

Mail: Australia Financial Complaints Authority

GPO Box 3

Melbourne, VIC 3001

Events for notifying CDR consumer

Frollo will notify you;

When you stop sharing data with Frollo, then we will stop collecting data from this account. We will also delete any data we previously received from this account.

Without this data, we will be limited in our ability to help you track your budget.

The detailed impact to using Frollo is as follows:

Deleting CDR data

You can stop sharing data with us at any time by going to your consent dashboard or by writing to us at [email protected]

We will delete all banking data collected under a user’s consent, along with any derived data, within one (1) business day of the following events:

When any of these events occur Frollo will delete all the data you shared with us from our systems, unless it is required to be held by Australian law. If your data has been used to generate statistical, unidentifiable trend information, it will remain part of the statistical base for this information after your transaction and account data has been deleted.

Availability of policy

This policy is available within the Frollo app by going to ‘Data Sharing’ and selecting the appropriate provider, and via our website frollo.com.au

A hardcopy of this policy can be obtained by emailing [email protected]