SUMULONG FINANCING INC.,
Fastpeso
We, at SUMULONG FINANCING INC. (Sumulong), who run and operate FastPeso, with Securities and Exchange Commission (“SEC”) Registration No. CS201915712, and Certificate of Authority to Operate as a Lending Company No. 1238. We place significant importance on safeguarding the privacy of our users. This Privacy Policy is designed to provide a comprehensive understanding of how Fastpeso collects, stores, utilizes, shares, and manages personal data when you interact with the Fastpeso app or make use of our services.
To know more about how we use our data, please read this Privacy Policy in its entirety.
What Personal Data Do We Collect?
Within Fastpeso , we gather specific data to meet the Know-Your-Customer (KYC) requirements mandated by the Bangko Sentral ng Pilipinas, the Anti-Money Laundering Council, and other regulatory bodies overseeing BSP-Supervised Financial Institutions (BSFIs).
In general, during your loan application process, we collect the following information as part of our risk management model:
Name and Personal Information: This includes your first name, last name, date of birth, and similar details.
Data for Risk Assessment: We require data provided in your loan application to evaluate risk. This may encompass employment details, submitted documents, and information verifying your educational background.
Government-Issued Identification: To establish your identity in accordance with Philippine BSFI laws, we collect data and documents associated with government-issued IDs such as SSS ID, UMID, Voter’s ID, Passport, and Driver’s License.
With your permission, we gather the following details from your device:
PERMISSIONS
We use your personal information to send you marketing or advertising messages or other promotional offers, to the extent that you have authorized the use of your information for direct marketing purposes.
Location:To reduce the risk connected with your account, we acquire location data from your device.Fastpeso will not disclose your information to a third party without your permission. Your consent is required in order for us to collect your data.
Camera:We need camera access, to provide you with a simple & smooth experience & to enable you to take a picture of your Government-Issued Identification Data , KYC documents & other pertinent documents & send them to the app at any time while the loan application process is in progress.
Storage:We need your permission to store information so that the app can enable you to submit photos and/or documents during the loan application process and complete the application.
Phone status: We use your phone status to identify you and protect your information, which helps other parties assess risk.
Text Message:To identify reliable references for risk analysis, we extract contact details from your device and send it to https://phi.fastpesoph.com Regular data transfers from your text message lists will happen while the app is in use. Fastpeso will not disclose your information to a third party without your permission. Your consent is required in order for us to collect your data.
List of Installed Apps:With your consent, we collect details about the apps installed on your device, such as their names, package names, installation and update times, version names, and version codes. . This data is used to assess your credibility and offer personalized pre-approved loan choices.
In addition to the above, we also handle the following information concerning you:
Communication-Related Data:This pertains to your interactions with Fastpeso through in-app chat, telephone conversations, or other communication channels.
Data Submitted for Special Offers and Promotions:This includes data you provide when taking part in special offers and promotional activities organized by Fastpeso. This could involve the use of promo codes, availing discounts, or participating in exclusive, invitation-only groups.
In our pursuit of legitimate interests and in accordance with the Terms and Conditions governing loan transactions, Sumulong also gathers the following information from the individuals who are the primary sources of this data:
Transaction Data and Financial Details:This includes particulars regarding loans, transfers, payments, and loan requests made to other financial institutions.
Additional Third-Party Data:This covers information provided to us by credit reference agencies or bureaus, external collections agencies, and mobile network providers.
We also gather the personal information linked with the names and phone numbers on your phone contact list, but only with your express permission.
Why do we use your personal data?
In general, we handle your personal data in order to fulfill any contracts or agreements we may have with you and so that we can complete any legal requirements established by the laws that apply. Also, we do so in conjunction with the following legitimate preferences:
● It gives you the credit and/or other financial or technological services or products,
● operating our business,
● marketing our services to you and others, and
● keeping our records up to date and administering our systems.
In particular, the data we gather will be applied to:
● to determine your eligibility to utilize our goods or services; to service your loan with us; to confirm your identification and/or other information you've submitted to us,
● To resolve any issues you or other clients may have with our services,
● providing help or service to customers, as well as resolving conflicts and complaints
● operate our systems, uphold the standard of our services, and gather broad usage statistics,
● analyze and improve our services,
● detect, react, and stop actual or attempted fraud, as well as any other unauthorized use of our services,
● comply with applicable laws, regulations, and rules, and
● interfacing with fraud prevention or credit reference bureaus.
Do we share the data that we collect with third parties?
Without any court order, law, or other issuance from our regulators, or any express, written permission from you, we do not share any of the data with any other parties; the data we gather is not for sale.
How do we secure your data?
Sumulong Financing Inc.applies organizational, physical, and technical protections while managing Fastpeso data for efficient and secure loan transactions. We always secure your data at rest, whenever practical and suitable, in accordance with generally recognized standards for data security.
We have implemented measures whenever possible to protect ourselves from the negative effects of cybercrime.
With the aim to make it extremely hard for unauthorized third parties to gain access to your information illegally, we work to protect the reliability and safety of our network and systems.
Where and how do we store your data?
Fastpeso Servers, which are owned and managed by Sumulong Financing Inc., securely store data that is sent to it via the Fastpeso App and the data that is delivered using an Application Programming Interface (API) to Fastpeso Servers via the Fastpeso App.
The original copies of any documents you scan for your application, are safely remain on your mobile device.
For the benefit of your experience using Fastpeso, other used information is stored as well on your device to complete your loan through the Fastpeso App.
Where and how do we store your data?
As long as your account is active, We will continuously keep your information, we will delete your account data within seven (7) days. after your account closure. For as long as the other justifiable business objectives, such as to fulfill our legal, regulatory, or other compliance obligations, we keep the essential personal data.
Your data and account will be permanently lost if you follow the proper account deletion instruction; our team won't be able to retrieve the account.
We will let you know when it's necessary and request your most recent consent.
Changes in Managing of Data and Privacy Notice
We may make periodic updates to our Privacy Policy. Notification of such changes will be provided by posting the revised Privacy Notice on this page and displaying it on a splash screen when you access the app.
In the event of significant updates, we will inform you and request your renewed consent.
How do we contact you?
For more details on your privacy and your privacy rights, contact us:
The Data Protection Officer
Sumulong Financing Inc.
29 Bagong Silang St.
Tuktukan Taguig City
Philippines
+639507489503
fastpesocs2023@gmail.com
9AM-6PM
This policy is effective as of 2023-Sept-06
HELP:+63-9507489503