Privacy Policy
Fency Systems is committed to your privacy and security online. This policy describes the ways we collect, use, share and protect your personal information in connection with your use of www.fencypay.com and any of its subdomains (the “Site”) and the products and services offered on the Site by any other third parties that Fency has partnered with.
By accessing, using our service, or registering on the Site, you signify that you have read, understood and agree to our collection, storage, use and disclosure of your personal information as described in this Privacy Policy.
Our services
Fency collects, uses, stores and shares information in connection with its products and services including:
- the loan services we offer when you visit the Site and submit accounts from one or more Creditors;
- as an agent and service provider of banks and other third party licensed lenders that we have partnered with (each, a “Creditor”) for whom we may act as marketer, service provider, and/or loan servicer of their loan or credit card program; and
- as servicer and administrator to other third party loan investors on whose behalf it is acting; and
- when you authorize Fency to send or receive your information to third parties to access certain additional products or services on the Site.
We reserve the right in our sole discretion to make changes to how we operate and provide our services, including adding new services, modifying existing services, or suspending, discontinuing, or terminating your access to any or all portions of our services, as described below.
What Information we collect
The types of personal information we collect depends on the products and services you use. The information may include but is not limited to:
- Your name, address, phone number, email, date of birth, social security number and documents or other media that verifies your identity such as your driver’s license, passport and video calls you make at our request;
- Information such as your credit history, credit scores and other information provided by consumer reporting agencies;
- Information about your financial accounts including your payment activity and history;
- Information we receive from third party data partners for verification purposes including to verify your identity and manage risk;
- Your financial information such as your financial institution, your account numbers, bank account credentials, account statements, and transaction information;
- Information about your employer, current income, assets and certain expenses, including with respect to your current employment, employment offers, bank account credentials and transaction information, tax returns, W-2, brokerage statements, and pay stubs which are provided by you or a third party;
- Information about your computer, mobile phone or other access device and anonymous information about your web request, Internet Protocol (“IP”) address, geo-location data, browser type, referring / exit pages and URLs, number of clicks and how you interact with links on the Site, domain names, landing pages, pages viewed, your use of third party applications, and other information that assists us in analyzing and improving the Service.
Please note that Fency only provides its services and offerings to consumers based in the United States and therefore, is not subject to the General Data Protection Regulation (GDPR).
How we collect information
We collect information about you:
- Directly from you when you register on the Site and use the Site and our products and services; fill out forms or fields such as when you add debt accounts, or apply for a loan or to be an investor; through the services you opt in to, such as when you receive loan offers or choose automatic bank account verification; from your transactions, including your security purchases, loan repayments, account funding and withdrawals; and your communications with us.
- Automatically from you when you visit the Site or use the products and services available on the Site:
- We collect certain information from your computer, mobile phone or other access device that is automatically reported by your browser or mobile device each time you access the Site;
- We automatically record certain log file information such as IP address, browser type, and what you do on our Site;
- We may also employ clear gifs (also known as web beacons) which are used to anonymously track the online usage patterns of our users;
- We may also use clear gifs in HTML-based emails sent to you to track which emails are opened and which links are clicked by recipients;
- We (or companies we work with) may place small data files called cookies or pixel tags on your computer or other device.
- You are free to decline our cookies if your browser or browser add-on permits, but doing so may interfere with your use of the Site. The help legal section of most browsers or browser add-ons provides instructions on blocking, deleting or disabling cookies.
- From third party service providers including information we request on your behalf from your linked financial institutions, credit reporting agencies such as TransUnion, Equifax, and/or Experian, information we receive from third party data partners who supplement and/or verify information we collect from you, and information we access from public records or websites.
- From third party referral partners that you engage with who may pass certain information about you and your use of their service to us. This information could include any information that you have permitted the third party to share with us, and any information you have made public in connection with that service. You should always review and, if necessary, adjust your privacy settings on third-party websites and services before visiting the Site.
How we use the information we collect
We collect this information from or about you in order to:
- provide you and other customers with access to the products and services offered through the Site;
- improve our insights so we can tailor our content and advertising, and provide you with offer recommendations and/or insights that are most relevant to you;
- provide notices and other information to you about, or in connection with, these products and services;
- provide customer support;
- protect against fraud, fulfill legal requirements and enforce our agreements;
- provide, maintain, develop and improve our services, your experience, and to protect Fency and its users; and
- improve your experience accessing the products and services offered through the Site by recognizing you as a customer and remembering information you previously provided so that you will not have to re-enter it.
What information we share
All financial companies need to share customers’ personal information to run their everyday business. We may share your personal information with:
- Creditors that you link to Fency;
- Service providers who help with parts of our business operations such as fraud prevention, servicing, bill collection, debt collection, marketing and technology services, product development, and non-affiliated financial institutions that we partner with to market or provide the products or services to you;
- Credit reporting agencies to report account information, as permitted by law;
- Debt collection companies that purchase your loan from a Creditor if it has been charged off;
- Companies that we plan to merge with or be acquired by, or companies we plan to sell, divest or transfer all or a portion of our products and/or services to, including any back-up service provider or back-up administrator we, or any Creditor engage in the event we stop operating;
- Law enforcement, government officials, or other third parties when (1) we are compelled to do so by a subpoena, court order or similar legal procedure, (2) we need to do so to comply with law, or (3) if we believe in good faith that the disclosure of your personal information is necessary to prevent physical harm or financial loss or to report suspected illegal activity; and
- Other third parties but only if you consent or direct us to do so.
If you are offered an advance from Fency, your loans may automatically be allocated to an investment channel based on allocation methodology determined by us:
- This allows investors on the Fency site to invest in loans through Fency. We share some of your information with investors. This may include, but limited to, your loan terms, loan grade, repayment history and loan status, and your credit score.
- Fency allows investors to purchase 100% of your loan directly from us. We provide information about you included in your application, including personally identifiable, financial, and credit information, and your loan terms to these investors and their agents and trustees in advance of their purchase of your loan. Fency will maintain its position as loan servicer to facilitate timely payments when the promissory changes to another investor directly.
- As the servicer of your loan we will also share information we obtain in servicing your loan, including about your repayments, to these investors, who become the Creditor of your loan, any subsequent purchaser of your loan, and each of their agents or trustees.
Fency will not sell or rent any of your personal information to third parties for their marketing purposes and only shares your personal information with third parties for official business as described above.
The collection and use of your information by third parties is subject to each third party’s specific privacy policy and terms of use.
Information that has been made anonymous so that it does not identify a specific user is not considered personal information.
Federal and state laws allow you to restrict the sharing of your personal information in certain instances such as sharing your information so that third parties can market to you. However, because we will not share your information in these instances without your express consent, there is no need for you to opt-out from the information we share.
How we protect your information
We care about the security of your information and protect your personal information from unauthorized access and use by maintaining physical, electronic and procedural safeguards in compliance with applicable law. These measures include computer safeguards and secured files and buildings. We authorize our employees to get your information only when they need it to do their work, and we require companies that work for us to protect your information.
You are responsible for maintaining the secrecy of your unique password and account information, and for controlling access to your email communications from us at all times. However, we cannot ensure or warrant the security of any information you transmit to us or guarantee that information may not be accessed, disclosed, altered or destroyed.
In the event that any information under our control is compromised as a result of a breach of security, we will take reasonable steps to investigate the situation and where appropriate, notify those individuals whose information may have been compromised and take other steps, in accordance with any applicable laws and regulations.
Links to or from other websites and services
We are not responsible for the practices employed by any third party, or websites or services linked to or from the Site, including any information or content they contain. Please remember that when you use a link from a third party to visit our Site, or use a link to go from the Site to another website, our Privacy Policy does not apply to those third-party websites or services. Your browsing and interaction on any third-party website or service, including those that have a link or advertisement on the Site, are subject to that third party’s own rules and policies, including their terms and conditions and privacy practices. In addition, you agree that we are not responsible and we do not control over any third-parties that you authorize to access your user content. If you are using a third-party website or service (like social media) and you allow such a third-party access to your user content, you do so at your own risk.
How you can access or change your personal information
You can review and edit some of your personal information at any time by logging into the Site.
Children’s privacy
We do not knowingly collect or solicit any information from anyone under the age of 13 or knowingly allow such persons to register as users. The Site and its content are not directed at children under the age of 13. If we learn that we have collected personal information from a child under age 13, we will delete that information as quickly as possible. If you believe that we might have any information from a child under 13, please contact us at support@fencypay.com or by submitting a request through the Fency support portal.
Changes to our Privacy Policy
We may amend this policy from time to time to reflect the changes in our business and practices, and so you should review this page periodically. The revised version will be effective at the time we post it. If we make a material change we will notify you of the changes by posting a Policy Update.
How you can contact us
If you have questions or concerns regarding this policy, you should contact us by emailing us at support@fencypay.com or by submitting a request through the Fency support portal.
Article ID: 23, Created On: 10/20/2019, Modified: 10/20/2019