Cyber Security and Data Privacy at The Loan Company

Equifax

• What is it: Equifax is a multinational consumer credit reporting agency that provides comprehensive credit checks for our clients.
• Statement: “Our security and privacy controls are aligned with frameworks developed by the National Institute of Standards and Technology (NIST). We have adopted the Cybersecurity Framework (NIST CSF) which integrates industry standards and best practices for cybersecurity, and in 2020, we became an early adopter of the Privacy Framework (NIST PF). Five core capabilities – cybersecurity, privacy, fraud prevention, crisis management, and physical security – are now represented in our company’s unified controls framework and comprehensive security program.”
• Technical: “With the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF) and Privacy Framework (NIST PF) as our foundation, we built an integrated, interactive, industry-leading framework, adding actionability and accountability via technical requirements. We published this framework to help others build or enhance their own cybersecurity programs.”
• Link – About: https://www.equifax.com.au/about-us https://www.equifax.com.au/about-us
• Link – Security: https://www.equifax.com.au/personal/equifax-philosophy-towards-security https://www.equifax.com.au/personal/equifax-philosophy-towards-security

FileInvite

• What is it: FileInvite is a document collection software platform that is a simple, fast and secure alternative to email – we use to this to safely and securely get the required application documents from our clients.
• Statement: “With the highest-grade encryption and compliance standards, FileInvite gives you and your clients confidence in the security of your data.”
• Technical: FileInvite supports the latest recommended secure cipher suites to encrypt all traffic in transit, including use of TLS 1.2 protocols at a minimum, AES256 encryption, and one-way SHA2 where possible.
• Link – About: https://www.bankstatements.com.au/about/faq https://www.bankstatements.com.au/about/faq
• Link – Security: https://www.fileinvite.com/security https://www.fileinvite.com/security

BankStatements

• What is it: An online platform we use to get all of the required bank statements for your loan application in one easy place. This means less paperwork, less fuss and a quicker decision from the lender about your loan approval.
• Statement: “BankStatements is independently designed and vetted by world-class security experts to ensure the highest levels of data protection and security.”
• Technical: All data sent to our server is encrypted with 256-bit encryption and secured by 2048-bit keys. Your customer’s login credentials are never stored. They are securely discarded once they have been encrypted and passed to the bank.
• Link – Security: https://www.bankstatements.com.au/about/security https://www.bankstatements.com.au/about/security
• Link – Consumer Data Right Policy: https://www.illion.com.au/consumer-data-right-policy/ https://www.illion.com.au/consumer-data-right-policy/

MyCRM

• What is it: MyCRM is a paperless, all-in-one tech platform, that is used by our mortgage brokers to lodge your application seamlessly with the wide variety of lenders on our panel. Per their website, “It’s the #1 software solution in the broking industry, as voted by brokers.”
• Statement: “At Loan Market Group (LMG) we’re committed to keeping our brokers and their clients’ information security safe, we take the protection of our customers’ personal and financial privacy information very seriously. We have rigorous security measures in place, as well as security teams working to protect our customers’ details and accounts.”
• Technical: ISO/IEC 27001:2013 is a security management standard that specifies security management best practices and comprehensive security controls following best practice guidance. The basis of this certification is the development and implementation of a rigorous security program, which includes the development and implementation of an Information Security Management System (ISMS) which defines how LMG perpetually manages security in a holistic, comprehensive manner.
• Link – About: https://lmg.broker/about-lmg https://lmg.broker/about-lmg
• Link – Security Compliance: https://lmg.broker/security-compliance https://lmg.broker/security-compliance

If you would like further information on these platforms, or have any questions at all about data privacy and security, please don’t hesitate to speak to your Loan Company mortgage broker.