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Privacy notice

FW Capital is part of the Development Bank of Wales Group (DBW Group).

Whenever you provide personal information to the Development Bank of Wales, or we collect information about you, we will only use it in accordance with this privacy notice.  Please read this carefully.  

This privacy notice applies to the Development Bank of Wales plc and to all of its subsidiary companies (collectively, these are known as the DBW Group).  Whenever the term 'we' is used in this notice, it means the Development Bank of Wales plc and any other company in the DBW Group that holds your personal information. 

Find out more here; https://developmentbank.wales/about-us/governance

Our principles

We take your privacy very seriously and are committed to protecting your personal information. This means:

  • We will only ask you to provide us with your personal information that helps us to help you.
  • We will hold your personal information securely and responsibly. We use safeguards, including electronic encryption, to prevent unauthorised access to your personal information.
  • We will only share your personal information with other companies in the DBW Group, with suppliers who perform services on our behalf, and as otherwise set out in this notice."

Why we collect and use your personal information

We may collect and use personal information about you for the following reasons:

  1. in connect with an application for, and the on-going management of, one of our investment products; 
  2. because you would like us to contact you in response to a specific query; or 
  3. so that we can keep you informed about our investment products and services 

More information about how we use your information in connection with each of these purposes can be found by clicking on the above links.  This website also uses cookies, more details of which can be found in our cookies policy

Your data protection rights

The personal information you provide to us will be held in accordance with our responsibilities under data protection legislation.  This includes the Data Protection Act 1998 and, from 25 May 2018, the General Data Protection Regulation. These laws contain specific rights for you, including:

•    the right to request access to personal information held about you (this is known as the right of subject access);

•    the right to have inaccurate personal information about you corrected and, in some circumstances, the right for that information to be erased;

•    the right to object to processing of your personal information in some circumstances (for instance if you think the information we hold about you is inaccurate, or if it is being used for direct marketing purposes);

•    the right to object to your personal information being used for any automated decision-making, including profiling; and

•    the right to complain to the regulator, the Information Commissioner's Office, if you are unhappy about how your personal information is being used.  The ICO can be contacted at www.ico.org.uk.   

If you would like to exercise any of the rights set out above, including requesting details of the personal information we hold about you, please e-mail us at info@developmentbank.wales  or write to us at:

DATA PROTECTION OFFICER Development Bank of Wales 1 Capital Quarter Tyndall Street Cardiff, CF10 4BZ

 

1. Using your personal information in connection with our investments

Why does the DBW Group need to use my personal information?

If you apply to us for one of our investments, you will need to provide us with information about you. This is so we can decide whether you are eligible for the investment, and whether it is suitable for you.  If your application is successful, we will continue to use your information as part of our on-going management of our investments.

What information do I need to provide to the DBW Group?

The exact information that we require will be different in each case and will be set out on the application form itself.  It will include basic information about you, such as your name, address, previous addresses and date of birth.  If you are making an application as an individual, a sole trader or a partnership, we will ask you to provide information about your financial standing.  We may also ask you to provide information about 'associated persons', which are people financially linked to you. 

Where an application is made on behalf of a company [or limited liability partnership], we will ask for information about the directors and beneficial owners (or partners) of the company (or LLP), including information about their financial standing.  We may use this information to carry out credit and other relevant checks."If we decide to make you an offer, we will ask you to complete a diversity monitoring form.  Any information you provide us on this form will only be used to help us monitor if we are achieving real equality of opportunity in delivering our services.  It will not be used to make decisions affecting you.

What does the DBW Group do with my information?

When you provide your information to us, we will use it in order to assess your application and to make a decision on whether or not to provide you with the relevant investment.  We will then use your information to manage our investment.  Our uses of your information may include:

  • Making searches about you at credit reference agencies.  These agencies will provide us with credit information as well as information from the electoral register and will record details of any searches whether or not your application proceeds.  You can find out more information about how your information is used by credit reference agencies and fraud prevention agencies by reading the Credit Reference Agency Information Notice (“CRAIN”). This document describes how the three main credit reference agencies each use and share personal data. The CRAIN can be accessed here.
  • Credit searching, for debt tracing and the on-going management of any funding we may provide to you.
  • Credit-scoring, to determine your suitability for the relevant product or service.
  • Fraud detection and prevention.  We may share your information with fraud prevention agencies such as the National Crime Agency, for this purpose.
  • Carrying out any of the above actions in respect of your business or any other applicants named on your application form.

As part of the activities listed above, we may share your information with third parties such as credit reference agencies and fraud prevention agencies.   We will share information about our investments in Wales with the Welsh Government, the Welsh European Funding Office, Business Wales and the European Funds Audit Team.  For Investments made by FW Capital, we will share information with the British Business Bank and Santander.

We will not send your information outside the European Economic Area.

Please refer to the specific application forms for exact details of how we will use your personal information in relation to each of our investment products.

What is the legal basis for using my information?

Under data protection law, we must have a valid legal basis for collecting and using your personal information.  When you apply for one of our investments, the following legal bases may apply:

  • Your application is a request for us to enter into a contract with you.  We are permitted to use your personal information where it is necessary for us to do so in order to enter into a contract with you and for the performance of that contract. 
  • We are subject to various legal obligations whenever we consider applications for investment, including anti-money laundering legislation and the requirements of the Financial Conduct Authority.  We are permitted to use your personal information where it is necessary in order for us to comply with our legal obligations.
  • We believe that carrying out appropriate checks on potential customers, and then monitoring the performance of our investments during the term of our relationship, are in our legitimate interests as a responsible lender.  We are permitted to use your personal information where it is necessary for our legitimate interests, provided that our interests are not overridden by your own interests.

How long does the DBW Group retain my information?

If your application is successful, we will keep your personal information for at least the duration of your contract with us, and after that for a period of seven years.  This is to ensure that we have a full record of the contract between us, if there should be any dispute about the contract.

If your application is unsuccessful, we will normally delete your information after 12 months.

We may hold your information for longer where it is necessary to comply with our legal obligations, to exercise legal rights or to defend legal claims.

What happens if I do not provide my information to the DBW Group?

In order for us to consider your application, you must provide information about you to us.  If you do not provide all of the details we request in the application form, we will be unable to assess your application and it may result in you not being able to access our investments.

 

2. Using your personal information to respond to your enquiry

Why does the DBW Group need to use my personal information?

If you contact us for more information about a particular investment product, or if you make a general enquiry, we will need to process your personal information in order to respond to you.  

What information do I need to provide?

That will depend on the nature of your query. The ‘contact us’ page on our website sets out the minimum information we will need about you in order to respond to your query.  

What does the DBW Group do with my information?

We will use the information to respond to your query and, if you agree, to contact you again to provide you with information about our products and services (see part 3, below).

What is the legal basis for using my information?

Under data protection law, we must have a valid legal basis for collecting and using your personal information.  When you contact us for more information about our products or services, we believe that we have a legitimate interest in being able to respond fully to your enquiry.  We are permitted to use your personal information where it is necessary for our legitimate interests, provided that our interests are not overridden by your own interests.  In this case, we believe that using your personal data to respond to your query is in both your and our interests.

How long does the DBW Group retain my information?

We will hold your information for the time it takes to deal with your query.  We will normally delete your information after 12 months, unless you would like us to retain your contact details to keep you informed of our products and services (see section 3, below).

What happens if I do not provide my information to the DBW Group?

You do not need to provide us with your personal information.  However, if you do not provide sufficient information, we may not be able to respond accurately to your query.  If you contact us via our website, we ask that you provide certain mandatory information so that we can deal with your query.  

 

3. Using your personal information to keep you informed of our products and services

Why does the DBW Group need to use my personal information?

If you would like to be kept informed of our range of investment products and services, we will use your personal information to send you direct marketing communications (such as emails).  We will only do this if you have agreed to us using your personal information for this purpose.

What information do I need to provide to the DBW Group?

We may collect your contact information from our third-party partners, Tees Valley Combined Authority, Sunderland City Council, North East Finance, North East Combined Authority, NPF 2016, Santander, Local Enterprise Partnerships. We will use your information to send you marketing mail that we think you would be interested in receiving.

For info: NECA are the Authority make decisions for the North East LEP, NPF 2016 is the company limited by guarantee that is responsible for the Property Fund.

What is the legal basis for using my information?

Under data protection law, we must have a valid legal basis for collecting and using your personal information.  When we use your information for marketing purposes, the following legal bases apply:

  • We believe that we have a legitimate interest in sending you information about our products and services.  We are permitted to use your personal information where it is necessary for our legitimate interests, provided that our interests are not overridden by your own interests.  In this case, we believe that telling you about our products and services is in both your and our interests.  We will always give you the opportunity to opt out of receiving these communications.
  • In some circumstances we will ask for your consent before we send you information about our products and services. 

How long does the DBW Group retain my information?

We will hold your information until you choose to no longer receive marketing communications from us. 

What happens if I do not provide my information to the DBW Group?

If you do not wish to receive marketing information from us, please let us know.  You have the right to opt out at any time by e-mailing us at info@developmentbank.wales or clicking the 'unsubscribe' option in any of our marketing emails.