How is privacy protected?

As a Financial Adviser using Frollo, it's essential to understand the robust privacy safeguards in place to protect your client's data. The Consumer Data Right (CDR) framework ensures strong privacy and security. Here's how Frollo adheres to these safeguards:

Strong Privacy Safeguards

The CDR privacy safeguards outline specific privacy rights and strict obligations for businesses collecting and handling data. Frollo complies fully with these regulations.

Australian Government ACCC Accreditation and Industry Compliance

Frollo is SOC 2 Type II certified, the highest standards for security, availability, and confidentiality. For more information visit our Trust Centre.

Frollo was the first FinTech in Australia to become an Accredited Data Recipient (ADR) under the Australian Competition and Consumer Commission (ACCC) Open Banking regulations in 2020. 

This accreditation requires us to meet strict requirements in several key areas:

• Obtaining Consumer Consent: Frollo only collects data from another business (Accredited Data Holder - ADH) when we have received explicit Consumer Consent. Consumers can withdraw their Consent at any time.
• Data Collection, Usage, and Storage: Frollo collects and uses data solely to provide the requested product or service. We ensure transparency and clarity when collecting data. If Consent is withdrawn, we cease using the data and delete or de-identify it, as permitted by law, unless an exception applies.
• Information Security: Frollo adhere to strict information security requirements. This includes protecting data from misuse, interference, loss, unauthorised access, modification, or disclosure.
• Protecting Privacy: CDR data is transferred via a secure online system to protect your Consumers' privacy and information.

Additional Privacy Rights

There are numerous other privacy rights under the Consumer Data Right.

For more information on CDR privacy rights, please refer to this Government fact sheet and the Frollo CDR Policy.

We are dedicated to ensuring the security and privacy of your client's data.