The purpose of our privacy policy

Our privacy policy describes what data we might collect when you use our services, when we might collect it and what we use it for. It describes where your data gets stored and for how long. It lists whenever third parties are involved in the fulfilment of any of our services and what we pass on to them when carrying those out.

We follow the data protection principles of the UK’s Data Protection Act 2018, which is an implementation of the General Data Protection Regulation (GDPR) and we recognise ourselves as a data controller under that regulation. This means we decide on what data we need to collect and process, and we have obligations to look after it in a responsible way. The gov.uk website has more information on the Data Protection Act and GDPR.

You should read our privacy policy to:

Find information on what data we collect, what it’s used for and how long it’s stored for
Understand where third parties are privy to elements of your data
How to get in touch with us if you want to raise any concerns or to exercise your rights regarding your data

Data we collect through the Prosper app

When you create an account with us, we collect:

Your email address and password (the password is never stored in a readable format)
Contact details like your home address or phone number.

These are used whenever we contact you, such as when updating you to let you know important information, or when sending you quarterly and annual statements.

When you set up a Prosper Personal Pension, ISA or other account, we collect:

Your date of birth, which we use to understand your eligibility and needs regarding certain services (like how close you are to pension drawdown age, for example)
Information about your residency and tax status, which we use in order to deal with your accounts correctly and for the required reporting we need to give to the Financial Conduct Authority and HM Revenue & Customs (HMRC)
A photo of your ID as proof of identity and and short video you take of your face, to match with your ID, which we use to combat fraud