The Oakam website is brought to you by Oakam Limited, a company incorporated and registered in England and Wales with the company number 05878249 and it’s registered office at 86-90 Paul Street, London, EC2A 4NE.
In the event that we decide to change our policy, we will post these changes on this page so that you can be aware of what information we collect, how we use it and when we disclose it.
In this document all references to “we” or “us” refers to Oakam Limited; all references to “you” refer to you, the data subject.
(a) what personal data we may collect from you;
(b) how we will use, store and protect your personal data;
(c) with whom we may share personal data; and
(d) your rights under relevant data protection laws.
This website contains hyperlinks to websites owned and operated by third parties. These third-party websites have their own privacy policies, including cookies, and we urge you to review them. They will govern the use of personal information you submit or are collected by cookies whilst visiting these websites. We do not accept any responsibility or liability for the privacy practices of such third-party websites and your use of such websites is at your own risk.
When you visit our website or The Oakam App, we may collect and process the following personal data about you:
We collect your personal data in a number of ways:
Data provided by Credit Reference Agencies: In order to process your application, Oakam will supply your personal information to credit reference agencies (CRAs) and they will give us information about you, such as about your financial history. We do this to assess creditworthiness and product suitability, check your identity, manage your account, trace and recover debts and prevent criminal activity.
We will also continue to exchange information about you with CRAs on an ongoing basis, including about your settled accounts and any debts not fully repaid on time. CRAs will share your information with other organisations. Your data will also be linked to the data of your spouse, any joint applicants or other financial associates (if applicable).
When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders. The identities of the CRAs, and the ways in which they use and share personal information, are explained in more detail at:
We may use your personal data for the following purposes:
Under data protection laws, we must have a legal basis in order to process your personal data. The legal bases on which we may process your data are:
As part of the processing of your personal data, decisions may be made by automated means. This means we may automatically decide that you pose a fraud or money laundering risk if our processing reveals your behaviour to be consistent with money laundering or known fraudulent conduct, or is inconsistent with your previous submissions, or you appear to have deliberately hidden your true identity. You have rights in relation to automated decision making: if you want to know more please contact us using firstname.lastname@example.org.
If we, or a fraud prevention agency, determine that you pose a fraud or money laundering risk, we may refuse to provide the services or financing you have requested, or to employ you, or we may stop providing existing services to you.
A record of any fraud or money laundering risk will be retained by the fraud prevention agencies, and may result in others refusing to provide services, financing or employment to you. If you have any questions about this, please contact us on the details above.
It is important to us that we only provide you with tailored offers and promotions for services which you may want or need. You will therefore only receive such offers from us in instances where you have expressed legitimate interest in our products or services, have consented to receive marketing, and have not at any point opted out from, receiving marketing communications from us.
Opting out from receiving marketing communications from us is easy and you may do so at any time by contacting us at email@example.com. We will process your request to be opted-out of marketing within 30 days of receipt.
We will ensure that we obtain your consent before we share your personal data with any company outside of the Oakam group for marketing purposes.
Where you opt out of receiving these marketing communications, we may still process your personal data for other required purposes, as specified in section 3 above. This includes contacting you regarding an application you have started with us online or over the phone.
We may disclose your personal information to any member of our group, which means our group companies, our ultimate holding company and its subsidiaries, as defined in section 1159 of the UK Companies Act 2006.
We may disclose your personal information to third parties, including third parties located outside of the European Economic Area (EEA).
The third parties to which we may transfer your personal data include:
The security of your data is important to us and we will, therefore, only transfer your data to such third parties in instances where:
Otherwise, unless you have given your consent, none of the data that we obtain will be provided to third party organisations in anything other than aggregate statistical form. It is not our policy to pass on personal information about our users to third parties unless you have given your consent.
As mentioned above, we will only transfer your data where suitable safeguards have been put in place. These safeguards are intended to ensure a similar degree of protection is afforded to your data wherever it may be transferred and include:
For more information on the safeguards used by Oakam when transfers of personal data to third parties, please contact us at firstname.lastname@example.org
We will not retain your personal data for longer than is necessary for the purposes for which the personal data is processed. This means that your data will only be retained for as long as it is still required to provide you with services or is necessary for legal or regulatory reasons. When calculating the appropriate retention period for your data, we consider the nature and sensitivity of the data, the purposes for which we are processing the data, and any applicable statutory retention periods. Using these criteria, we regularly review the personal data which we hold and the purposes for which it is held and processed.
When we determine that personal data can no longer be retained (or where you request us to delete your data in accordance with your right to do so (please see section 8 below for more information)), we ensure that this data is securely deleted or destroyed.
However, please note that, in some circumstances we may decide to retain your personal data for research or statistical purposes and, in such circumstances, we will anonymise your data before retaining it.
Fraud prevention agencies can hold your personal data for different periods of time, and if you are considered to pose a fraud or money laundering risk, your data can be held for up to six years.
For more details about our retention periods, please contact us at email@example.com.
In order to protect your personal data, Oakam has appropriate organisational and technical security measures. We follow security procedures in the storage and disclosure of information that you have given to us, in order to prevent, as far as possible, any unauthorised access. These measures include ensuring our internal IT systems are suitably secure and implementing procedures to deal with any suspected data breach. However, due to the nature of the medium, we are unable to provide any guarantee that information stored by us will not be subject to unauthorised access and any transmission is at your own risk.
In the unlikely event of a data breach, we will take steps to mitigate any loss or destruction of data and, if required, will notify you and any applicable authority of such a breach.
You have certain rights in relation to the personal data we process and hold about you. These include:
If you would like more information or to exercise any of the above rights, please:
We will respond to requests made by you within one month.
We will not charge a fee for you to exercise any of the rights listed above.
For more information about the cookies we use, please see our Cookies policy here
You should also be aware that you have the right to raise any concerns in relation to how we process your personal data to the Information Commissioner’s Office (ICO).
Data Protection Officer:
Email address: firstname.lastname@example.org