The information individuals have to provide in order to secure a loan can prove valuable. Headlines have been made recently by payday loan companies breaching the Data Protection Act, by failing to register with the Information Commissioner’s Office while handling this personal information. With borrowers now fearing for the safety of their personal information, they are searching for providers who can give assurances they are ICO registered. — Swift Money is registered with ICO and comply with all the standards set by the Data Protection Act to provide fast and secure payday loans.
Failure to comply with these standards can cost payday loan companies, as First Financial were fined over a thousand pounds for failing to comply with the registration requirement, and the sole director was personally fined by the City of London Magistrates Court. The conviction was supported by the ICO’s head of enforcement, who impressed on upon lenders everywhere the responsibility they hold in taking the information of the financially vulnerable.
Swift Money Ltd has always taken this responsibility seriously, and has been registered with the ICO since their inception. They offer affordable repayment rates far more competitive than many other such companies, and make getting a loan as easy as possible, with no credit rating check and a fast approval process.
A spokesperson for Swift Money explained, “We have always understood the seriousness of our responsibilities toward our customers. We do not forward the information given to us to any third parties and the information is kept securely according to all the best practice recommendations outlined by the ICO in the Data Protection Act. Swift Money has always strived to be an exemplary service provider and that is how we are becoming a leader in our industry, by setting the best standards of privacy and protection as well as of affordability and customer service.”
About Swift Money:
Swift Money has been operating in the UK since 2008 and have arranged and provided over 50,000 short term loans. The maximum loan amount offered is just £500 and is due for repayment on the next payday. Swift Money provides instant decisions and do not carry out any credit check.
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