01732 833477

Company Privacy Statement

Compass Business Finance Ltd ("we", "us", "our") is committed to protecting and respecting your privacy.

This policy outlines how we collect, use, and protect personal data across all our business operations in accordance with the UK General Data Protection Regulation (UK GDPR) and the Privacy and Electronic Communications Regulations (PECR).

 

1. Collecting Information

We obtain information about you when you use our website, for example, when you contact us about products and services, apply for a job or if you register to receive our monthly newsletters.

We may collect and process the following data about you and your business:

  • Personal identification information (name, email address, phone number, etc.)
  • Technical data (IP address, browser type, etc.)

Should you start an application with us, we will require further personal and financial data.

We may collect and process the following data about you and your business:

  • Personal identification information (name, email address, phone number, etc.)
  • Business identification information (company name, contact details, etc.)
  • Financial information (bank account details, transaction history, etc.)
  • Any other information relevant to our business relationship

 

2. Using Your Information

We use your information to:

  • Provide and manage our financial services
  • Process transactions and manage accounts
  • Communicate with you, including sending relevant business communications and marketing
  • Improve our services and internal processes
  • Comply with legal and regulatory requirements

 

3. Marketing Communications

We will not contact you or your business for marketing purposes by phone, email or post if you have indicated that you do not wish for us to do so. You can withdraw consent at any time by contacting us or using the unsubscribe link in our emails.

 

4. Cookies and Similar Technologies

Our website uses cookies to enhance your experience. Cookies are small text files placed on your device.

We use:

  • Essential cookies for website functionality
  • Analytical cookies to understand website usage
  • Marketing cookies and tracking pixels to personalise ads and track the effectiveness of our marketing campaigns

You can manage your cookie preferences through the pop-up on our website when you first access it our by clicking on the ‘Manage Consent’ tab.

 

5. Your Data Protection Rights

Under the UK GDPR, you have the right to:

  • Access your data
  • Rectify inaccurate data
  • Erase your data
  • Restrict processing
  • Data portability
  • Object to processing

To exercise these rights, please email: info@compassbusinessfinance.co.uk or phone 01732 833477.

 

6. Security Measures

We implement appropriate technical and organisational measures to protect your data, including encryption, access controls, and regular security assessments. When personal information (such as a credit card number) is transmitted to other Web sites, it is protected through the use of encryption, such as the Secure Socket Layer (SSL) protocol.

 

7. Third-Party Sharing

We may share your data with third-party service providers for business purposes.

Compass Business Finance Limited is a lender and a broker, working with other banks and lenders to provide products and services to you, where we are acting as a broker, we will provide your personal information to these companies.

All third parties are required to respect the security of your data and to treat it in accordance with the law. No third parties are permitted to sell or use your data for their own purposes.

At times Compass may be required by law to disclose your personal information.

 

8. Automated Decision Making

We may make automated decisions on certain matters. Such checks may be informed by credit scoring where we share your information with credit reference agencies, screening on databases and confirmation of your information (including by third parties).

Submitting to an anti-money laundering check is necessary. If this information is not provided, we cannot agree to provide you with our products or services. If you are not happy with the response you receive, you may, within one month of receiving our response, tell us the basis of your objection and ask us to arrange for the decision to be reviewed by one of our credit underwriting team. We will notify you of the steps taken and of the outcome of complying with your request.

 

9. Profiling

We may analyse your personal information to create a profile of your interests and preferences so that we can contact you with information relevant to you. We may make use of additional information about you when it is available from external sources to help us do this effectively. We may also use your personal information to detect and reduce fraud and credit risk.

 

10. Credit Reference Agency (CRA) Notice Information

Currently, the credit reference agencies we use are Creditsafe and Experian, but this may change over time. For more information on credit reference agencies, the type of information they make available to us and how they use your data, visit the Creditsafe and Experian websites.

You can contact the CRAs currently operating in the UK. The information they hold may not be the same, so it is worth contacting them all.

TransUnion (formerly CallCredit) – Consumer Services Team, PO Box 647, Unit 4, Hull, HU9 9QZ or call 0330 024 7574
Equifax Plc – Credit File Advice Centre, PO Box 3001, Bradford, BD1 5US or call 0870 010 0583
Experian – Consumer Help Service, PO Box 8000, Nottingham NG80 7WF or call 0844 4818000

 

11. Fraud Prevention Agencies

Should you apply for finance with us, the personal information we collect from you will be shared with fraud prevention agencies, who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment.

Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found here.

 

12. Data Retention

We retain your personal data only for as long as necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, accounting, or reporting requirements.

 

13. Contact Information

For any questions or concerns about this policy or your data, please contact us. The “Data Controller” is Compass Business Finance Ltd of Compass House, Medway Wharf Road, Tonbridge, TN9 1GH. Company registration number 5649414.

If you have any questions regarding this policy, please contact us by emailing info@compassbusinessfinance.co.uk or alternatively, you can telephone 01732 833477.

 

14. Updates to This Policy

We may update this policy from time to time. Any changes will be posted on this page, and where appropriate, notified to you by email.

Last updated: 20 November 2024