Privacy Policy
Our quest is to help people feel good about money. So we’ve built a personal finance management App that brings all of your bank finances into one single place where we provide you with key insights, budgeting tools, challenges and more to help you get ahead.
To bring all your finances into one place we ask for your consent to access your financial transactions from your bank accounts. Sharing sensitive information with us is important and we want you to feel confident and reassured that Frollo has implemented the industry-leading security practices and that this privacy policy guides how our organisation protects your information. Frollo operates in accordance with international information security standard (ISO 27001) and is aligned with prudential standard APRA CPS234.
We also thought it worth mentioning that Frollo is the first FinTech in Australia to become an Accredited Data Recipient under the ACCC Open Banking regulations. We believe this accreditation recognises Frollo’s standing as a credible and capable provider of financial consumer services in Australia.
For your information and continued confidence in Frollo, the privacy policy below outlines how we go about collecting, using, and securely storing your information.
Introduction
In this Privacy Policy, ‘us’ ‘we’ or ‘our’ means Frollo Australia Pty LTD ABN 49 613 113 269 and our related entities. We appreciate your use of our website, applications, software, product and services (collectively, the “Services”). By accessing and or using the Services you agree to the terms of this policy and our Terms and Conditions, available here . Our Privacy Policy sets out how we collect, use, store and disclose your personal information and other information about you. We may also be bound by the Australian Privacy Principles contained in the Privacy Act.
Our privacy policy aims to provide transparency about the information we collect, the purpose for which we collect it and how we use this information. We regularly re-evaluate these policies and update them to deal with new challenges and emerging issues.
By providing personal information to us, you consent to our collection and use of your financial data in accordance with this Privacy Policy and any other arrangements that apply between us. We may change our Privacy Policy from time to time by publishing changes to it on our website.
We encourage you to check our website periodically to ensure that you are aware of our current Privacy Policy.
What information do we collect?
Registration
In order to use the Frollo app you need to register an account with us. As part of registering your account we collect your:
- email address;
- name.
We do this because this is the minimum information we need to send you notifications and because nobody wants to be addressed as ‘Hi You’.
Your Consent – Account credentials and financial information
To use our App and to power our great features we need your financial data. To access your data we will ask you to enter your banking institution account details, including username and password into your own secure-credentials-vault that is protected with bank-level 256-bit encryption.
Frollo does not have any access to this information and purposefully uses a secure electronic platform provided by Yodlee Inc (“Yodlee”) to operate the secure-credentials-vault and periodically use the bank information to link to your bank accounts and collect your recent financial data.
The Yodlee service provides the same service to thousands of banks and financial organisations around the world. Yodlee has been subject to rigorous security due-diligence by Frollo and is compliant with international security standards. By acknowledging this privacy statement and agreeing to our Terms and Conditions you also acknowledge the Service’s use of the Yodlee platform.
Although Frollo doesn’t define or control the privacy practices of Yodlee, we do regularly review their practices, performance and ongoing compliance obligations through external audits.
Please click on the following link to obtain more information about Yodlee, including its Privacy Policy: www.yodlee.com
Other information
As you use Frollo and interact with us, we may request to collect other information that we believe can help us, to help you. We will always ask your permission and tell you what we are doing.
When you use our website, we may also use cookies to collect information about you. We do this to help us improve the security and performance of the website, as well as improve the efficiency of our marketing campaigns.
While we do not use browsing information to identify you personally, we may record certain information about your use of our website, such as which pages you visit, the time and date of your visit and the internet protocol address assigned to your computer.
You can disable cookies through your internet browser but our website may not work as intended for you if you do so.
Why do we collect this information?
Our primary purpose for collecting information about you is:
- to enable you to use Frollo services;
- to provide you with information about Frollo;
- to help you with enquiries;
- to improve our ability to service you.
Other purposes for which we may use your personal information include:
- to operate, protect, improve and optimise our Services, business and our users’ experience, such as to perform analytics, conduct research and for advertising and marketing;
- to send you service, support and administrative messages, reminders, technical notices, updates, security alerts, and information requested by you;
- to send you marketing and promotional messages and other information that may be of interest to you, including information sent on behalf of our business partners that we think you may find interesting;
- to administer rewards, surveys, contests, or other promotional activities or events sponsored or managed by us or our business partners;
- to comply with our legal obligations, resolve any disputes that we may have with any of our users, and enforce our agreements with third parties.
How do we collect this information?
We collect information when you register and provide your consent to connect with your financial data. This information is used to power the features of the App and allow us to communicate with you for notifications, alerts, technical messages.
We also collect information about how you use the App or our website and we aggregate this with all other users to find ways to improve the user experience and make it easier to use our features.
We also collect information when you contact us with an enquiry or request, so that we can ensure that we provide the best customer service. We may also use aggregated and de-identified information to improve customer service for everybody. When you participate in a survey we may collect your answers to help us improve the app.
How do we protect your information?
Frollo is ISO 27001 certified and operates to the highest level of information security to protect your information. We do this in accordance with a security governance framework that includes policies, procedures, systems and security controls.
Read more about our security policy here.
Who do we disclose your data to?
We may disclose your information for the purposes described in this privacy policy to:
- employees, related bodies corporate;
- third parties who supply us with services (for example providers for the operation of our website, or for sending emails to our users) and specific third parties authorised by you to receive information from us
- other persons, including government agencies, regulatory bodies and law enforcement agencies, or as required, authorised or permitted by law
We do not disclose information outside of Australia.
How to access, update or delete your information
You can access or correct the personal information we hold about you by contacting us (see the details below).
Sometimes, we may not be able to provide you with access to all of your personal information and, where this is the case, we will tell you why (for example, we may refuse to give you access to your information if giving access would have an unreasonable impact on the privacy of other individuals, if you request for access is frivolous or vexatious, or if the information relates to existing or anticipated legal proceedings).
We may also need to verify your identity when you request your personal information.
If you think that any personal information we hold about you is inaccurate, please contact us and we will take reasonable steps to ensure that it is corrected.
You may opt-out of receiving marketing materials from us by contacting us by email ([email protected]) or by using the opt-out facilities provided in any communication (e.g. the unsubscribe link).
Deleting your information
You may cancel your account at any time by contacting us via the Frollo support portal link here.
Once you have requested us to cancel your account, to the extent reasonably possible, all information and credentials will be deleted from our systems, and nothing will be retained other than as required by law. However, portions of your information, consisting of aggregate data derived from your account information, may remain on our production servers indefinitely.
Your data may also remain on a backup server or media. We keep these backups to ensure our continued ability to provide the Services to you in the event of malfunction or damage to our primary production servers.
Please note that simply deleting the app will not give effect to termination and deletion of your information.
Complaints
If you think we have breached the Privacy Act, or you wish to make a complaint about the way we have handled your personal information, you can contact us via email ([email protected]). Please include your name, email address and/or telephone number and clearly describe your complaint. We will acknowledge your complaint and respond to you regarding your complaint within a reasonable period of time.
It is our intention to resolve your complaint to your satisfaction. However, if you feel that your complaint has not been satisfactorily addressed or that it is taking too long to resolve your complaint, you are entitled to contact the Office of the Australian Information Commissioner (OAIC), on 1300 363 992 or the other contact details on the OAIC’s website (http://www.oaic.gov.au), who may investigate your complaint further.