GDPR (General Data Protection Regulation)

On 25^th May 2018, new regulation to standardise data protection and protect an individual’s right to privacy, called General Data Protection Regulation (GDPR) will come into force.  Applying to all businesses that process or store personal data, every organisation will need to review and implement compliant processes.

What changes have Premium Credit made?

As part of our GDPR programme, we have conducted a privacy risk impact assessment and enhanced our framework to identify and categorise the types of personal data (including sensitive data) that we handle.  We have also made the following changes:

1. Updated our privacy notices, trading and credit agreements to make clear the personal data we collect, how we handle it, and how individuals can exercise their right to request their information
2. Strengthened internal policies and procedures to ensure we meet our obligations under the new data subject rights
3. Recorded all processing activities that involve personal and sensitive data; detailing where it is held, purpose and how long it is held for
4. Reviewed and updated existing third-party supplier contracts
5. Updated our mandatory employee training programme, ensuring all staff are aware of their roles and responsibilities when collecting, processing or storing personal and sensitive data

What action do you need to take?

You are required to read Premium Credit’s revised Regulatory Guide and use the updated scripts during the onboarding and renewal processes.

Important:

• You need to ensure your customers are aware that Premium Credit provides the finance and that their data will be passed to us for this purpose
• You need to use your own privacy statements, as well as ours, to signpost the finance arrangement to customers
•  GDPR changes start from the 25^th May, and we can all expect to see updates over time as practices/procedures change

To view the updated guide and scripts, please refer to the email we sent you on the 15th May.

If you have any GDPR queries, please visit our website at www.premiumcredit.com/gdpr where you can find our updated privacy notices and GDPR FAQs which are regularly updated. 

Alternatively, please contact us at GDPR@pcl.co.uk