Finmo (Finmo Financial Technologies Ltd.)

Privacy Policy for End Users (Borrowers) and (Brokers): Updated October 11, 2019

Finmo Financial Technologies Ltd., (“Finmo” or “we”, “us” or “our” as the context dictates) is committed to preserving the privacy of all individuals, including you (“you” or “your” as the context dictates), who use our website (along with all subdomains, the “Website”), our platform, applications, tools or products, and related content (the “Services”) and provide us with their information. This privacy policy (the “Privacy Policy”) is designed to help you understand how your personally identifiable information (“Personal Information”) is collected, used, stored and disclosed when you engage with Finmo. Before registering, submitting any content or Personal Information, or otherwise engaging with us, please make sure that you read and understand this Privacy Policy as well as our Terms of Use (together with such other documents, our “Terms”).

This Privacy Policy applies to the Personal Information that is provided during your interaction with our Services. In the course of using our Services, you may use a third party’s intellectual property, tool or resources, including for the purposes of interacting with your mortgage broker and their team (“Broker”) or for the Broker interacting with the (“Borrower”), and such third party’s privacy policy may also apply to you. We encourage you to read and review each privacy policy that applies to you as our Privacy Policy terms may differ from the terms contained in third parties’ privacy policies. We do not endorse or in any way guarantee performance or accept liabilities with respect to such third parties, including the privacy policy and practices of your Broker.

You are under no obligation to provide Personal Information, with the caveat that your refusal to do so may prevent you from using certain portions of our Services. Finmo does not collect, use, store or disclose Personal Information without your consent, or without your Broker’s consent, except as required by law or as set out below.

If you have any objections to the terms in this Privacy Policy, you should not use this Website or provide us with any of your Personal Information, as by providing your Personal Information to us, you will be deemed to have consented to the processing of such data. If you have any hesitations or are unsure about any of the Terms, we invite you to contact us at usersupport@finmo.ca or 1-855-575-0413.

PART A – COLLECTION OF PERSONAL INFORMATION

We may collect the Personal Information you disclose to us through your use of the Website as well as other information as set out below.

1. Information you Provide

Your voluntary disclosure of Personal Information may include, but is not limited to:

a) basic personal information, including your name, contact information, marital status, living history, and income level;

b) information, including passwords and other details about your subscriptions to third party sites, which may include social media sites;

c) information about third parties who may be your beneficiaries or estate managers;

d) information required to complete your mortgage application, including your credit history, desired mortgage goal, medical information, property, subject property, assets, education, employment information and social insurance numbers;

e) information collected in a dispute resolution if applicable;

f) information you provide when you engage with the Website for various purposes, including account openings, registration or submission of other information to us; and

g) any feedback you provide regarding our products and services.

Our collection of Personal Information is limited to that which is reasonable under the circumstances, and we only collect your Personal Information with your consent.

2. Automatic Information

During your interaction with the Website, we may collect and store anonymous information (“Automatic Information”) about you as you engage with our Website and services. This information may be collected using various technologies including, without limitation, “Cookies” (meaning alphanumeric identifiers that are stored on your device with which you access our Services), Internet tags and navigational data. Some of this information is automatically transmitted to us through your browser, such as the URL that you just visited, the browser version that your computer uses, the pages of our Website that you visit, the time spent on each page, the time and date of you visit and other statistics. For further clarification, cookies are alphanumeric identifiers that are stored on your device with which you access the Services. These cookies allow us to adjust our Services to meet your personal browsing preferences. If your browser is not set to allow cookies, you may not have access to all areas or features of the Website.

In addition, we may use third party services such as Google Analytics and Intercom that collect, monitor and analyze this type of information in order to increase our Services’ functionality. These third party service providers have their own privacy policies addressing how they use this information. We encourage you to read and review these third parties’ privacy policies.

To understand more how we use Automatic Information, you can review our help article.

PART B – USE OF YOUR INFORMATION

To accomplish any of the purposes listed below, we may combine Personal Information and Automatic Information, and non-personal information collected through your use of our Services. This information may be used in a variety of ways which are in keeping with the intent behind the collection of information. Some examples of said use may include:

a) to connect you to your broker, or if you’re a broker to connect you to a borrower;

b) to enforce our Terms;

c) to provide/give mortgage planning advice;

d) to complete and track your mortgage application;

e) to prevent, detect and investigate potentially prohibited or illegal activities, fraud and security breaches;

f) to collect data on our Services;

g) to improve our Services;

h) to contact brokers for the purpose of marketing, promotional offers, updates, and to contact borrowers on behalf of their broker to use our Services, and any other purpose set out in our Privacy Policy and as permitted by the preferences you have indicated;

i) to personalize your experience while using our Services; and

j) to provide you with any additional information you may request.

For the purposes of administering your mortgage application, we will share your Personal Information with the Broker and as applicable, the appropriate third party lending institution. To provide a bit more context on how information is processed by Finmo, please refer to the text below:

{yourbroker}.mtg-app.com (website) → Finmo → Filogix (Finastra) → Credit Pull → Lender

Alternatively, some brokers may choose to bypass Finastra’s Filogix and submit to lender directly from Finmo.

{yourbroker}.mtg-app.com (website) → Finmo → Credit Pull → API → Lender

Except as set forth above, your Personal Information will not be provided to any other users of our Services.

Automatic Information

We may aggregate, evaluate and use Automatic Information in order to help improve our Services. We may use cookies, IP addresses or other Automatic Information to analyze trends, administer our Services, track your website navigation and gather broad demographic information. Automatic Information will not be published or made public through our Services.

We also reserve the right to use Personal Information and Automatic Information as set forth in our Terms, if applicable.

Behavioural Remarketing

Finmo uses remarketing services to advertise on third party websites to brokers after they have visited our Services. We do not remarket to borrowers in any way, but we give brokers tools to remarket to borrowers. We, and our third party vendors, use Cookies to inform, optimize and serve ads based on your past visits to our Services. In certain circumstances, your implied consent to our accessing, using or disclosing your Personal Information is provided if you do not instruct your web browser to refuse all Cookies or to indicate when a Cookie is sent or if you do not opt out of Google Analytics or other similar services, as indicated below.

Google Inc. (“Google”). Google AdWords is a remarketing service provided by Google. You may opt-out of Google Analytics for Display Advertising and customize Google’s Display Network ads by visiting Google’s Ads Setting page. Google also recommends installing the Google Analytics Opt-Out Browser Add-On. This service provided by Google allows visitors to prevent their data from being collected and used by Google Analytics.

Facebook, Inc. (“Facebook”). We may use Facebook’s advertising services from time to time. You can opt-out of interest-based advertising from Facebook by visiting their website.

PART C – DISCLOSURE OF YOUR INFORMATION

Business Operations

We may disclose information to our representatives, affiliates, suppliers or other third parties with which we do business (our “Business Partners”) when it is deemed necessary for our business operations. For example, we may share information with a property aggregator to receive information about the Subject Property being purchased. Or, at the request of a user we may share banking information with Flinks for easier document collection. Or, at the request of the user we may share First Name and Last Name with OneSpan for e-signature.

From time to time, we may engage companies or individuals for certain services on our behalf including, without limitation, conducting audits, performing legal services, processing credit card payments, collecting feedback, and providing customer service. Our Business Partners and any other third-party service providers will only have incidental access to Personal Information to the extent required to perform their services. They are prohibited from the use of your Personal Information for any purpose other than assisting with our business operations.

Safety and Security

We may disclose your Personal Information as necessary to protect the safety or security of users of our Services, to detect and prevent fraud or abusive behaviour, or when otherwise required or permitted by law.

Transfer or Sale

In the event that we sell, transfer or otherwise dispose of our business to an affiliate, successor, assign or other third party entity, we may disclose Personal Information. However in the event that such a transaction occurs, any Personal Information will remain subject to the terms of any pre-existing Privacy Policy.

Legal Requirement

We may disclose your Personal Information, if required, to:

a) tax authorities, supervisory authorities, police and other regulatory authorities as required by law or in response to a subpoena, court order, or other legally valid inquiry or order;

b) owners of intellectual property rights or such party’s representatives who may be considered, in good faith by such owner, to have had their owner’s rights violated by a user of our Website and Services, provided however, that the owner will be required to enter into an agreement to limit the use of the Personal Information provided only for purposes of the possible violation of an intellectual property right; or

c) either prevent or minimize a criminal offense or to protect a person’s rights and personal and or financial health.

Consent

In addition to permissions already granted under this Privacy Policy by you, we may provide, disclose or transfer your Personal Information with your consent provided either as a part of the services you receive from us or in writing by you otherwise.

For the purposes of administering and tracking your mortgage application, we will share your Personal Information with the appropriate third party lending institution and/or mortgage broker. Please note that if the lending institution and/or mortgage broker requires additional consents, you shall provide those consents directly to such lending institution and/or mortgage broker.

PART D – PROTECTING, RETAINING AND STORING YOUR PERSONAL INFORMATION

1. Protection: In order to help prevent unauthorized access to, maintain data accuracy and ensure the correct use of your information, we have put in place commercially reasonable physical, electronic and managerial procedures to safeguard and secure the information we collect through our Website. That said, we cannot guarantee that information provided to us through our Website will remain private, or that the information you transmit to us over the Internet will not be intercepted.

2. Storage: Borrower and Broker information is currently stored on AWS in the Canada region. Some third-party tools we use to assist Brokers may reside in a jurisdiction where the third-party tools operate. For example, Intercom stores Broker names and emails for customer support. Finmo is not held responsible for Borrower data obtained through Finmo and moved elsewhere by the Broker. However, Finmo retains the right to transfer your information to an affiliate or third party to protect the information or for internal business reasons as we see fit. BY AGREEING TO THIS PRIVACY POLICY, YOU AGREE AND CONSENT TO US DOING SO WITHOUT YOUR FURTHER CONSENT.

3. Identification: To help prevent unauthorized access to your Personal Information you are responsible for keeping the username and password (collectively, “ID”) that you receive upon registration with our Services private and confidential. You are solely responsible for preventing the unauthorized use of your ID. If you suspect that your information has been compromised or that your account has been accessed without your consent, please contact us immediately at usersupport@finmo.ca or 1-855-575-0413.

4. Retention: You may be able to add, update, or delete certain information through the Finmo. When you update information, however, we may maintain a copy of the unrevised information in our records for legal compliance purposes. Any information that cannot be updated or deleted through Finmo will require you to contact the Broker for further assistance. We retain the information we process for as long as needed to provide services to the Broker.

We may retain some of the information for reasons including, but not limited to, compliance with applicable Provincial, banking and lending regulations, resolving disputes, and enforcing our agreements. We may also continue to use any aggregated or de-identified information but not in a manner that would identify you personally.

PART E – ELECTRONIC COMMUNICATIONS

Where applicable, we will seek your express consent to contact you, including by way of commercial electronic messages. You can unsubscribe at any time from receiving commercial electronic messages by following the “unsubscribe” instructions in the messages we send.

Even if you have opted out of receiving marketing communications from us, please be aware that we may still contact you for other purposes. For example, we may contact you to provide communications you have consented to receive, regarding the products or services we provide to you, or if you contact us with an inquiry. We cannot guarantee that information that we send to or receive from you over the Internet will not be intercepted.

PART F – ACCESSING AND MODIFYING YOUR PERSONAL AND ACCOUNT INFORMATION

We want to ensure your Personal Information is accurate and up to date. If you notice any inaccuracies, please let us know. You can also access and modify your personal and account information using the tools provided in our Website. We will not modify your personal or account information.

At any time, you may request access to your Personal Information by contacting usersupport@finmo.ca or 1-855-575-0413. We will respond to your request within a reasonable time period, and process it as appropriate under applicable law. Your request may be subject to a processing fee as allowed under law.

PART G – JURISDICTION-SPECIFIC PROVISIONS

1. Your Legal Rights

Under certain circumstances, you may have rights under the data protection laws in relation to your Personal Information, including the right to:

a) request access to your Personal Information;

b) request correction of your Personal Information;

c) request erasure of your Personal Information;

d) object to processing of your Personal Information;

e) request restriction of processing your Personal Information;

f) request transfer of your Personal Information; or

g) right to withdraw consent.

If you wish to exercise any of these rights, please contact usersupport@finmo.ca.

If you wish to exercise your legal rights, you will not have to pay a fee to access your Personal Information (or to exercise any of the above-mentioned rights). However, we may charge a reasonable fee if your request is unfounded, repetitive or excessive. Alternatively, we may reasonably refuse to comply with your request in any of these above-noted circumstances.

Further, if you wish to exercise your legal rights, we may require specific information from you such as proof of identity. This is a security measure to ensure that Personal Information is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your exercise of your legal rights.

PART H – CHANGES TO THIS PRIVACY POLICY

We reserve the right to change this Privacy Policy, and any other policies and procedures concerning our practices for managing Personal Information, at any time without prior notice to you. If this Privacy Policy is modified, we will post the most current version to our Website. At the top of the modified Privacy Policy, we will include the date upon which it was last updated. Any changes that are made to this Privacy Policy will apply to both Personal Information that we hold prior to the effective date of the amended Privacy Policy and to any Personal Information collected on or after such effective date. Our successors and assigns may collect and use your Personal Information for substantially similar purposes as described in this Privacy Policy.

PART I – HOW TO CONTACT US

Any questions, comments or concerns relating to this Privacy Policy, and any requests to correct or access Personal Information collected during your use of the Services, should be directed to the Privacy Officer at:

Attention: Finmo, Privacy Officer

91 Wildwood dr. SW Calgary, AB T3C 3C6

Email: usersupport@finmo.ca

Telephone Number: 1-855-575-0413