Frollo collects, holds, uses and discloses CDR data for the purposes of providing you with a personal financial management application that enables you to view, on a continuous basis, historic and current transaction and other financial information from the bank accounts that you have connected to the application. This includes surfacing insights about spend patterns over time, bills detection, income detection and analysis of assets and liabilities.
Account information, transaction and contact details are collected, held and used by Frollo in accordance with the following services.
- Personal Financial Management uses this information to provide users with insights about where their money is going, and tools to manage their money more effectively. This includes a financial statement providing a view of your money in and money out.
- Financial Passport uses this information to provide insights on your finances, producing a detailed Financial Passport that can be used when applying for loans.
- Money Partner uses this information to provide users with real-time tools and insights to manage their money more effectively. This includes the ability to disclose information to a financial advisor for financial advisory services
- We analyse non-identifiable statistical data to help us improve our service and user experience, and to ensure we’re building products that have a positive impact on the financial wellbeing of our users.
- We also derive insights such as consumer spending by category and changing patterns in savings balances that we hold as non-identifiable statistical data to understand financial trends across our customer base. We publish these trends on our website.
Learn more about Frollo CDR Policy here: https://frollo.com.au/cdr-policy/