Privacy Policy

This Privacy Policy explains how Lumo Finance Ltd (“Lumo Money”, “we”, “us”, or “our”) collects, uses, stores, and protects personal and business information. Please read this carefully to understand how we handle your data when you use our website, digital platform, or related financial services.

By accessing or using our services, you agree to the terms of this Privacy Policy.

1. Who We Are

1.1 Lumo Money is a trading name of Lumo Finance Ltd, registered in England and Wales (Company No. 12345678). Our registered office is at 45 Charlotte Street, Manchester, M1 4FD.

1.2 Lumo Finance Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 123456. We provide business lending and related financial services to UK-based businesses.

1.3 Lumo Finance Ltd acts as the data controller for personal information collected through the Lumo Money website, applications, and communication channels.

2. Information We Collect

We collect and process different categories of information depending on how you use our services:

2.1 Business Information:
Details such as your company name, registration number, trading address, financial statements, business performance data, and ownership information.

2.2 Personal Information:
Data about individuals including names, contact details, job titles, phone numbers, and email addresses of company directors, partners, or authorised representatives.

2.3 Financial and Credit Information:
Bank account details, transaction history, credit reports, payment records, and other information relevant to assessing creditworthiness and affordability.

2.4 Technical Information:
Information automatically collected when you visit our website or use our digital tools, such as IP address, browser type, operating system, device identifiers, and website usage analytics.

2.5 Communications:
Copies of messages, emails, or call notes when you contact us or interact with our team, including for support or loan servicing.

2.6 Verification and Compliance Information:
Identification documents, business ownership details, and data from anti-money laundering (AML) or know-your-customer (KYC) checks, obtained directly or from trusted third parties.

3. How We Use Your Information

We use the information we collect for the following purposes:

3.1 To verify identity, assess applications, and make lending decisions.
3.2 To provide and manage financial products, including loan servicing and repayment tracking.
3.3 To maintain accurate business and accounting records.
3.4 To comply with legal and regulatory obligations under UK financial and anti-money laundering laws.
3.5 To communicate with you about products, updates, and customer support.
3.6 To improve the performance, functionality, and security of our website and digital platform.
3.7 To perform internal reporting, analytics, and business planning.
3.8 To send marketing communications (where you have consented or where permitted by law).

4. Legal Basis for Processing

We rely on the following lawful bases under the UK General Data Protection Regulation (UK GDPR):

4.1 Contractual necessity: To process your data when entering into or fulfilling a business loan or related agreement.
4.2 Legal obligation: To comply with laws including financial reporting, anti-fraud, and anti-money laundering regulations.
4.3 Legitimate interests: To operate, manage, and improve our business services in a secure and efficient way.
4.4 Consent: For marketing communications or where you explicitly agree to specific uses of your information.

You have the right to withdraw consent at any time by contacting us using the details below.

5. Sharing Your Information

We may share your information with:

5.1 Credit reference agencies to assess creditworthiness and prevent fraud.
5.2 Payment processors, banks, or financial partners necessary to deliver our lending services.
5.3 Third-party service providers who help operate our systems, analytics tools, or support channels.
5.4 Regulatory bodies such as the Financial Conduct Authority (FCA), HMRC, and the National Crime Agency (NCA) where required by law.
5.5 Professional advisors, auditors, or insurers for compliance and business continuity.
5.6 Debt collection partners or legal representatives in cases of default or enforcement.

Whenever we share your information, we ensure that third parties maintain appropriate data protection standards and confidentiality.

6. International Data Transfers

6.1 Lumo Money primarily stores and processes data within the United Kingdom.

6.2 Where we or our suppliers transfer personal data outside the UK (for example, for cloud hosting or secure data storage), we ensure compliance with UK data protection laws by using approved transfer mechanisms such as Standard Contractual Clauses or adequacy decisions.

7. Data Retention

7.1 We retain your information only for as long as necessary to fulfil the purposes outlined in this policy or to comply with legal, regulatory, and contractual obligations.

7.2 Typically, financial and customer records are retained for up to six years after the end of a business relationship, unless a longer retention period is required by law.

7.3 When information is no longer needed, it will be securely deleted or anonymised.

8. Data Security

8.1 We take appropriate technical and organisational measures to protect your data against loss, misuse, unauthorised access, alteration, or disclosure.

8.2 Our security practices include encryption, secure data storage, access controls, staff training, and regular system monitoring.

8.3 While we take reasonable precautions, no system or transmission of data over the internet can be guaranteed to be completely secure.

9. Your Rights

Under the UK GDPR, you have the following rights in relation to your personal data:

9.1 The right to access a copy of the personal data we hold about you.
9.2 The right to correct inaccurate or incomplete information.
9.3 The right to request erasure (“the right to be forgotten”) where legally applicable.
9.4 The right to restrict or object to processing of your data.
9.5 The right to data portability in a structured, commonly used, and machine-readable format.
9.6 The right to withdraw consent for marketing or specific processing activities.
9.7 The right to lodge a complaint with the Information Commissioner’s Office (ICO) at www.ico.org.uk if you believe your rights have been violated.

10. Marketing Preferences

10.1 We may use your contact details to share updates, offers, and insights about our services if you have opted in or if we have a legitimate business reason to contact you.

10.2 You can unsubscribe at any time using the link provided in our communications or by contacting us directly.

10.3 We never sell or rent your personal data to third parties for marketing purposes.

11. Cookies and Tracking

11.1 Our website uses cookies and similar technologies to enhance user experience, analyse traffic, and measure marketing performance.

11.2 Essential cookies are necessary for the operation of the site. Analytical and marketing cookies are used only with your consent.

11.3 You can manage your cookie preferences through your browser settings or via our cookie banner. For more details, see our Cookie Policy.

12. Third-Party Links

Our website may contain links to external websites. Lumo Money is not responsible for the privacy practices or content of third-party sites. We encourage you to read the privacy notices of any website you visit.

13. Children’s Data

Lumo Money’s services are intended for business users aged 18 and over. We do not knowingly collect or process information relating to minors.

14. Changes to This Policy

14.1 We may update this Privacy Policy periodically to reflect legal changes, product updates, or improvements in our data handling practices.

14.2 Significant updates will be communicated via our website or by email before they take effect.

14.3 The most current version of this Privacy Policy will always be available at www.lumomoney.co.uk/privacy.

15. Contact Us

If you have questions or concerns about this Privacy Policy, or wish to exercise your data protection rights, please contact:

Data Protection Officer
Lumo Finance Ltd
45 Charlotte Street, Manchester, M1 4FD
Email: privacy@lumomoney.co.uk
Phone: +44 7712 345 678