Privacy Policy
1. Introduction
FinCollective ("we", "our", "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our financial planning application ("the Service"). This policy complies with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.
2. Data Controller
FinCollective is the data controller responsible for your personal data. Please contact hello@fincollective.co.uk for data protection queries. You have the right to contact us at any time regarding your data protection rights.
3. Information We Collect
3.1 Personal Information
We may collect the following personal information:
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Name and email address (for account creation and authentication)
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User role and permissions
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Account credentials (securely encrypted)
3.2 Financial Information
You may voluntarily provide:
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Debt information (creditor names, balances, interest rates)
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Income and expense data
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Budget information and financial goals
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Payment history and schedules
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Currency preferences
3.3 Usage Data
We automatically collect:
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Device information (browser type, operating system)
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IP address and location data
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Pages visited and features used
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Time and date of access
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Interaction with AI features
3.4 Cookies and Tracking Technologies
We use cookies and similar technologies to maintain your session, remember your preferences, and improve your experience. You can control cookie settings through your browser preferences.
4. How We Use Your Information
We use your information for the following purposes:
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Service Provision: To provide, maintain, and improve the Service
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Personalisation: To customise your experience and provide personalised recommendations
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Calculations: To perform financial calculations and generate debt payoff plans
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AI Features: To power AI-driven insights and recommendations
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Communication: To send service-related notifications and updates
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Analytics: To understand how users interact with the Service
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Security: To detect, prevent, and address technical issues and fraud
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Legal Compliance: To comply with legal obligations and enforce our Terms
5. Legal Basis for Processing (UK GDPR)
We process your personal data under the following legal bases:
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Consent: You have given explicit consent for specific processing activities
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Contract Performance: Processing is necessary to provide the Service you've requested
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Legitimate Interests: Processing is necessary for our legitimate business interests (e.g., improving the Service, fraud prevention)
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Legal Obligation: Processing is required to comply with legal requirements
6. Data Sharing and Disclosure
6.1 We Do Not Sell Your Data
We do not sell, rent, or trade your personal information to third parties for marketing purposes.
6.2 Service Providers
We may share data with trusted service providers who assist us in:
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Cloud hosting and data storage
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Analytics and performance monitoring
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AI and machine learning services
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Email delivery services
All service providers are contractually bound to protect your data and use it only as instructed.
6.3 Legal Requirements
We may disclose your information if required by law, court order, or governmental authority, or to protect our rights, property, or safety.
6.4 Business Transfers
In the event of a merger, acquisition, or sale of assets, your information may be transferred to the acquiring entity. You will be notified of any such change.
7. Data Security
We implement appropriate technical and organisational measures to protect your personal data, including:
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Encryption of data in transit and at rest
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Secure authentication mechanisms
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Regular security assessments and updates
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Access controls and monitoring
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Staff training on data protection
However, no method of transmission over the internet is 100% secure. We cannot guarantee absolute security of your data.
8. Data Retention
We retain your personal data only for as long as necessary to fulfill the purposes outlined in this Privacy Policy, unless a longer retention period is required by law. When you delete your account, we will delete or anonymize your personal data, except where we are required to retain it for legal or regulatory purposes.
9. Your Data Protection Rights (UK GDPR)
Under UK GDPR, you have the following rights:
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Right of Access: Request copies of your personal data
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Right to Rectification: Request correction of inaccurate data
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Right to Erasure: Request deletion of your personal data
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Right to Restrict Processing: Request limitation of how we process your data
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Right to Data Portability: Request transfer of your data to another service
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Right to Object: Object to processing based on legitimate interests
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Right to Withdraw Consent: Withdraw consent for processing at any time
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Right to Lodge a Complaint: Complain to the Information Commissioner's Office (ICO)
To exercise any of these rights, please contact us using the information provided. We will respond within one month.
10. International Data Transfers
While the Service is operated from the UK, your data may be processed in other countries where our service providers operate. We ensure that appropriate safeguards are in place, such as Standard Contractual Clauses approved by the UK authorities, to protect your data in accordance with UK GDPR standards.
11. Children's Privacy
The Service is not intended for children under 16 years of age. We do not knowingly collect personal data from children under 16. If you believe we have inadvertently collected such information, please contact us immediately, and we will delete it.
12. Third-Party Websites and Services
The Service may contain links to third-party websites or advertisements. We are not responsible for the privacy practices of these third parties. We encourage you to review their privacy policies before providing any personal information.
13. AI and Automated Decision-Making
Our Service uses AI to provide personalised recommendations. These are suggestions only and do not constitute automated decision-making that significantly affects you. You maintain full control over all financial decisions. We do not use automated decision-making for credit scoring, loan applications, or similar purposes.
14. Changes to This Privacy Policy
We may update this Privacy Policy from time to time. We will notify you of any material changes by posting the new policy on this page and updating the "Last Updated" date. For significant changes, we may provide additional notice (such as email notification). Your continued use of the Service after changes are made constitutes acceptance of the updated policy.
15. Contact Information
For any questions about this Privacy Policy or to exercise your data protection rights, please contact us through the feedback feature in the application.
Supervisory Authority: If you have concerns about how we handle your personal data, you have the right to lodge a complaint with the Information Commissioner's Office (ICO):
ICO Contact Details:
Website: ico.org.uk
Helpline: 0303 123 1113
Address: Information Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF
Your Privacy is Important: We are committed to transparency and protecting your personal data in accordance with UK GDPR and the Data Protection Act 2018. If you have any questions or concerns, please don't hesitate to reach out.