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Privacy Notice

Adhering to general data protection regulation

 

The following privacy policy provides an overview how your data is recorded and processed. This policy applies to GRENKE Group and its United Kingdom entities including GRENKE Leasing Ltd, GC Factoring Ltd – GRENKE Franchise and GC Financial Solutions Ltd (GRENKE Belfast Agency).


GRENKE Leasing Ltd provides financial leasing services to small and medium sized businesses to enable them to lease equipment instead of purchasing it. Our company registration number is 04539806 and our registered office address is Ground Floor, 2 London Square, Cross Lanes, Guildford, England GU1 1UN.


GC Factoring Ltd provide a factoring services to small and medium sized businesses and are a GRENKE Franchise. Our company registration number is 08336352 and our registered office address is Ground Floor, 2 London Square, Cross Lanes, Guildford, England GU1 1UN.


GC Financial Solutions Ltd provides both a leasing and factoring services to small and medium sized businesses. GC Financial Solutions Ltd is an independent company, the agent is independent and owner of its company and entirely responsible for its own risk. Its specialises brokering reseller relationships and leasing notice. Our company registration number is Nl631442 and our registered office address is Unit B, Carrowreagh Business Park, Carrowreagh Road, Dundonald, BT16 1QQ.


(“GRENKE”, “we” or “us”) relates to all three entities outlined above.


The companies will only share data between them if you have provided consent for them to do so. 


The Data Controller 
Any organisation that holds data about you and decides how it is used is a “Data Controller”. We are a Data Controller in respect of the information that you have given us about yourself or that we may be given by anyone else. We can be contacted by post at GRENKE (fao The Data Protection Officer, Ground Floor, 2 London Square, Cross Lanes, Guildford, England GU1 1UN or by email at dataprotection@grenke.co.uk or dataprotection@grenkefactoring.co.uk.

 

The Data Subject and Personal Data
Only a living individual can be a data subject. Most of our customers are limited companies and the information that we hold about them is not personal data. If a customer is however a sole trader, a partnership or if we require a guarantor of a lease, the data that we hold about those individuals will be personal data. This privacy notice relates to that personal data.


The Legal Basis for the Processing
 

Nature of the Personal Data
Purpose of the Processing
The Legal Basis for the Processing

Name, address, date and place of birth.
Telephone number and email address.
Authentication data (e.g. specimen signature)
Financial information  (e.g. credit information, credit scoring/rating data

To consider an application by you for lease finance, which may include credit scoring and profiling.
If we enter into a contract with you, to manage the contract

The processing is necessary to take steps at your request prior to entering into a contract with you (i.e. the leasing contract).
The processing is necessary for the performance of a contract with you.

Photographic ID and your name, place and date of birth and address.
Information about the origin of your assets.

To comply with our obligations under the Banking Act 2009, the Money Laundering Act and imposed upon us by the European Central Bank, the European Banking Authority, the Bank of England, the Financial Conduct Authority and other supervisory bodies

The processing is necessary to comply with legal obligations to which we are subject.

If we have entered into a factoring agreement with you, we will require the name, address and sort code of your bank and the number of the account into which payments can be made on receivables

To administer factoring contracts and to collect payments.

The processing is necessary for the performance of a contract to which the data subject is a party (i.e. the leasing contract).

Sales data

To send you information about other financial products and services that may be of interest to you.

We will only process your data for marketing purposes on the basis of your consent.

Cookies are used on our website

To improve the performance of our website.
To remember information that users have inputted in order that fields on the website can be populated automatically.
To monitor your usage of our website.

The essential, functional and statistical cookies are stored on the basis of our legitimate interests for the optimisation and needs-based design of our website.
Cookies are stored for marketing purposes on the basis of the user's consent. You will have the option to enable cookies when you first visit our website. These cookies are therefore only set if the user agrees to the storage by issuing their consent to the cookie notification on the website.
For more detail on the use of cookies please refer to our Group Privacy Policy.

Recipients of your personal data

We will provide your data to credit reference agencies.  It will be used for profiling to create a credit score. Further information on profiling is set out below.


We will provide your personal data to the supplier and installer of the equipment you are financing in order for it to be delivered and at the end of the contract, removed. 


Other companies within our Group specifically GRENKE AG to carry out profiling which is a necessary to assess your application and consider whether to enter into a contract, and also, to store the data securely on our behalf.  


Other companies within our Group from which you have consented to receive marketing information specifically GC Factoring Ltd and GC Financial Solutions Ltd, from which information can be provided that are suitable to the company’s interests.


If you fail to make payments and we have to enforce the agreement, we will provide your data to our solicitors, collection agents and bailiffs.


We will provide your data to any regulatory authority to which we are obliged to provide it.

 

Automated decision making and profiling


We use profiling in the following ways:


(a)    We use credit scoring to calculate the probability that you will meet your payment obligations to us under any proposed contract. The calculation takes account of your:

 

  • Earning capacity;
  • Outgoings;
  • Existing liabilities;
  • Employment history and employer;
  • Experience form previous business relationships;
  • Repayment of previous loans;
  • Information from credit reference agencies

 

We calculate your credit score using an accredited mathematical statistical formula. If you disagree with a decision that we have made based on your credit score, you have the right to require the decision to be reviewed by human evaluation, taking into account your point of view.


(b)    We are required to evaluate your data, including during payment transactions, to assess the risk of money laundering and the funding of terrorism and other criminal fraudulent activities.


If you fail to provide personal data

If you do not provide us with the personal data that we request when we are considering your application for finance, we will be unable to consider the application.  


Data export


Data may be sent to countries outside the European Economic Area if :


(a)    The European Commission has made a declaration of adequacy in relation to the country;
(b)    There is a contract between us and the recipient that incorporates the model contract clauses published by the European Commission;
(c)    It is necessary for the performance of the contract between us or a contract in your interest between us and another person or company;
(d)    We have informed you of the risks of the proposed transfer and you have explicitly consented to them.


Consent


If the way in which we use your personal data is based upon your consent, you may withdraw your consent at any time.  If you wish to withdraw your consent, please let us know in writing by post to us at GRENKE, No. 2 London Square, Cross Lanes, Guildford, England GU1 1UN or by email to dataprotection@grenke.co.uk  or dataprotection@grenkefactoring.co.uk .  


How long will your data be kept?


If we enter into a finance contract with you or if you have guaranteed an obligation under a finance agreement, we will keep your data for a period of 6 years after;


(a)    The repayment of all sums due to us under the contract; or
(b)    If we have to take legal proceedings to secure the payment of monies due to us under the contract, the conclusion of that action. 


If your application is unsuccessful, we will keep your data for 24 months after we have informed you of our decision.
We are required by law to keep all contract data and documentation pertaining to them for a period of 6 years following the end of the contract.


Your rights in relation to your personal data


Under certain circumstances, by law you have the right to:


Request access to your personal information (commonly known as a "data subject access request"). This enables you to receive a copy of the personal information we hold about you and to check that we are processing it lawfully.

Request correction of the personal information that we hold about you. This enables you to have any incomplete or inaccurate information we hold about you corrected.

Request erasure of your personal information. This enables you to ask us to delete or remove personal information where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal information where you have exercised your right to object to processing (see below).

Object to processing of your personal information where we are relying on our legitimate interest and there is something about your particular situation that makes you want to object to processing on this ground.


Request the restriction of processing of your personal information. This enables you to ask us to suspend the processing of personal information about you, for example if you want us to establish its accuracy or the reason for processing it.


Request the transfer of your personal information to another party.


If you want to review, verify, correct or request erasure of your personal information, object to the processing of your personal data, or request that we transfer a copy of your personal information to another party, please contact us at GRENKE, fao The Data Protection Officer, Ground Floor, 2 London Square, Cross Lanes, Guildford, England GU1 1UN or by email to dataprotection@grenke.co.uk or dataprotection@grenkefactoring.co.uk .  


If you are dis-satisfied with the way in which we have dealt with your personal data, you have the right to make a complaint at any time to the Information Commissioner's Office (ICO), the UK supervisory authority for data protection issues.