Privacy Policy

Introduction

Olico [Online Lending Innovations Company PTY LTD] is a match making service that matches consumers to product providers in South Africa.  To do this, we process our customers data to ensure that we are, to the best of our ability, offering the right product to the right person at the right time.  Our Privacy Policy outlines how we may process your data and also about your right to be forgotten.

 

Privacy Policy

Olico is committed to our customers privacy and the following notes outline our information practices.

 

Personal Information

Your information: We collect basic personal information (Name, DOB, email address, ID number, Tel number etc.) from you when you show any positive interest, in the context of a sale, for any product promoted through Olico or its affiliates or subsidiary businesses. We may also collect your credit information if you give us consent to do a credit check on your behalf. By becoming a customer of ours you give us, and our contracted partners, permission to use profiling tools and models to better find, target and position products (of any category) for your needs.

Refer a Friend: If you provide us with information about another person, you confirm that they have appointed you to act for them, to consent to the processing of their personal data including personal data and that you have informed them of our identity and the purpose for which their personal data will be processed.

Compliance: Olico undertakes to perform all the necessary legal and compliance risk activities from a POPI (Protection of Personal Information Act) and NCA (National Credit Act) requirements perspective.

 

Credit Information

By applying for a credit product you give Olico, and all third party credit provider partners of Olico, permission to perform a Credit Bureau check on your behalf.

 

Use of Personal Information

    • By using or applying for products via Olico, or its subsidiary businesses, or it’s affiliates, you agree that Olico can provide your data to its various third party product provider partners for the purposes of matching you with the best product for your needs and that it’s partners can communicate with you with suitable offers.
    • Olico will take responsibility for keeping your personal data safe, even while being processed by a third party product provider, until such time that you sign-up for, accept and are activated for a product from one of our third party product providers, where-after you will become a customers of theirs (as well as already being a customer of ours).  At this point, the third party product provider will also become responsible for keeping your personal information safe.
    • While we may, from time to time, promote offers supplied by third parties whereby the third party may contact you directly, we commit that at no time will we sell your personal details on to any third party for them to do with as they choose.
    • You may also, at any time and at no cost, choose to opt-out of receiving marketing communications from Olico or its subsidiary businesses by clicking here.
    • Your data is securely stored and securely transferred on, or between, secure servers.
    • For the processing of a loan or credit application – the institution with whom a credit agreement has been opened may return details regarding the opening of the loan or credit agreement to Olico (or its subsidiary businesses).  This information may include the account opening date and loan amount or account balance for financial record keeping.
    • For the processing of an insurance application – the institution with whom an insurance agreement has been opened may return details regarding the opening of the insurance agreement to Olico (or its subsidiary businesses).  This information may include the account opening date and monthly premium for financial record keeping.

 

Your right to be forgotten

You have the right to opt-out of receiving marketing communications from Olico.  You can do so, instantly and at no cost by clicking here.

 

Your right to access your information

The Promotion of Access to Information Act gives you the right to access your information. To do so, please read our PAIA manual by clicking here.

 

National ‘Do Not Contact’ List

Olico is an active member of the Direct Marketing Association (“DMA”) and according to Consumer Protection Act, No. 68 of 2008, we advise our visitors about “The DMA Don’t Contact Me Database”. (https://www.nationaloptout.org/)