Effective Date: September 8, 2022
This Policy does not apply to the extent that we process personal information as a processor or service provider to our customers, including lending platforms and financial institutions that license our underwriting model to provide consumer loans (“Theorem Customers”). We are not responsible for the privacy or data security practices of Theorem Customers, which may differ from those set forth in this Policy. If your personal information has been submitted to us by or on behalf of a Theorem Customer, please reach out to that Customer directly for information about the Customer’s privacy practices, to raise any issues or concerns about those practices, or to exercise any rights that you may have under applicable data protection laws with that Theorem Customer.
This Policy does not apply to information about current or former Theorem employees. If you are a Theorem investor, please see additional information about your privacy practices here.
1. PERSONAL INFORMATION WE COLLECT
Personal information is information that identifies, relates to, describes, is capable of being associated with, or could reasonably be linked, directly or indirectly, with an individual or household. Through our interactions with you, we may collect the following categories of personal information:
- Identifiers, such as your real name, alias, address, unique personal identifier, online identifier, Internet Protocol address, email address, account name, or other similar identifiers.
- Financial information, such as bank account number, credit card number, debit card number, or any other financial information.
- Demographic information, which may include protected characteristics under state or Federal law, such as age, date of birth, gender, or disability status.
- Commercial information, including records of personal property and services that you purchased, obtained, or considered.
- Internet or other electronic activity information, such as your interactions with the Site.
- Professional or employment-related information, such as the name of your employer, business contact information, and employment history.
- Education information, such as schools attended and degrees conferred.
- Inferences drawn from any of the categories of information above.
We collect personal information from the following sources:
- Directly from you. We collect personal information that you provide to us, for example, when you send us communications or fill out a web form on the Site.
- Automatically through the Site. When you visit the Site, we may collect certain information automatically through cookies, pixels, and other tracking technologies. The Site does not respond to “Do Not Track” signals sent by Internet browsers.
- Through the Investor Portal. Registered investors and representatives of investors may provide personal information to us when they access our investor portal.
- Through the Candidate Portal. We collect information that candidates for employment submit through the “Careers” page of the Site.
- From your employer. If you represent a Theorem Customer, service provider to Theorem, or other Theorem partner, we may obtain information about you from your employer.
- Data brokers and other information providers. We may collect personal information from third parties in order to improve our services.
- From financial institutions. We may collect personal information about borrowers in the process of purchasing, analyzing, or securitizing consumer loans.
2. HOW WE USE PERSONAL INFORMATION
We use your personal information for the following purposes:
- To communicate with you, including contacting you about our services or responding to your inquiries.
- To provide services to our partners, investors, and others, including maintaining and servicing partner and investor accounts, providing customer support to partners and investors, processing or fulfilling transactions, verifying partner and investor information, processing payments to partners and investors, and providing analytics services.
- To maintain or improve our services and the Site, including debugging to identify and repair errors, enhancing the models we use in operations, and conducting quality assurance.
- Related to our business operations, including receiving services from our providers, evaluating your application for employment, investigating and preventing fraud, conducting audits, or identifying potential customers and investors.
- To comply with law or for other legal purposes, including retaining information to comply with law or regulations or disclosing information to a court, regulator, or other third party in response to a valid request.
- To protect ourselves or others, including protecting against malicious, deceptive, fraudulent, or illegal activity; or protecting our rights and those of Theorem Customers or investors and defending any claims made against us.
- For any other purpose to which you consent or as we may otherwise disclose at the time of collection.
3. HOW WE DISCLOSE PERSONAL INFORMATION
Theorem may disclose information to the following categories of third parties for the purposes described in Section 2:
- Among our various businesses and affiliated companies.
- To service providers that provide services to help us with our business activities.
- To our business partners, such as third parties that administer Theorem funds, investors, and Theorem Customers.
- To law enforcement, government agencies, courts, or other third parties to protect ourselves, our employees, or others, to investigate fraud, or as required by law, such as to comply with a subpoena or similar legal process.
- To third parties in the event Theorem is involved in a merger, acquisition, or sale of all or a portion of its assets, or in the unlikely event of bankruptcy.
- To any other third party with your prior consent.
The table below describes the categories of personal information that Theorem collects and the categories of third parties to whom, in the preceding 12 months, we have disclosed personal information for a business purpose, for each of those categories of personal information.
|Category of personal information
|Categories of third parties to which we disclosed personal information for business purposes
|Categories of personal information identified in Cal. Civ. Code 1798.80(e)
|Internet or other electronic network activity information
|Audio and visual information
|Professional or employment-related information
|Inferences drawn from the above categories
Theorem has not sold personal information or shared personal information with third parties for targeted advertising in the preceding 12 months.
Our Site may offer links to other websites operated by third parties for your convenience. Such third-party websites may have information, policies, and practices different from ours. We do not control and are not responsible for the privacy policies, practices, and/or content of such third-party websites. Please contact such third-party websites directly for information regarding how your personal information may be collected, used, or disclosed by the third parties.
5. SAFEGUARDING INFORMATION
Theorem uses reasonable physical, technical, and administrative safeguards to protect personal information from unauthorized access, disclosure, use, loss, misuse, or unauthorized alteration, or destruction. Notwithstanding these security safeguards, it is impossible to guarantee 100% security in all circumstances.
6. SAFEGUARDING INFORMATION
We will retain your personal information for as long as necessary to fulfill the purposes for which we collected it; to satisfy any applicable legal, accounting, or reporting requirements; to establish, exercise, or defend legal claims; or for our legitimate purposes. Any request to delete your personal information is subject to these obligations and restrictions.
We reserve the right to use de-identified or aggregate data for any purpose without limitation, and we will not attempt to re-identify the information.
7. YOUR CHOICES AND RIGHTS
Depending on where you reside, you may have the following rights with respect to your personal information, subject to applicable exceptions:
- Right to access. You may be entitled to request that we disclose to you the specific pieces of your personal information that we have collected about you in a portable and, to the extent technically feasible, readily usable format.
- Right to know. You may have the right to confirm that we have collected personal information about you and know what personal information we have collected about you, including, as applicable, the categories of personal information we have collected, the sources from which we collected that personal information, the business or commercial purposes for which we collected, sold, and shared that personal information, the categories of personal information that we sold, shared, or disclosed to third parties for business purposes and the categories of third parties to whom we sold, shared or disclosed personal information.
- Right to deletion. You may be entitled to request that we delete the personal information that we have collected from you. We will use commercially reasonable efforts to honor your request, in compliance with applicable laws. Please note, however, that we may need or be required to keep such information, such as for processing for internal use or to comply with applicable law.
- Right to correct your personal information. You may also have the right to update inaccurate information that we process about you.
- Right to exercise rights without discrimination. You have the right not to receive discriminatory treatment if you exercise the rights conferred to you by applicable privacy law.
Please note that these rights may be limited under applicable laws. For example, if we collect your personal information in our role as a service provider to a Theorem Customer, you will need to contact that customer directly to exercise your rights.
If you would like to exercise one of your rights, please contact us at 1-888-436-6966 or email@example.com and provide us with your name, contact information, and the nature of your request. You may also contact us using these methods to appeal any decision we make relating to your request to exercise your rights.
Please note that we may require additional information from you to verify your identity and process your request. You can also submit a request via an authorized agent using the contact methods described above. If you use an authorized agent, we may request a copy of the agent’s signed permission to act, verify your identity directly, and ask that you confirm the agent’s authority.
8. CHILDREN'S INFORMATION
This Site is not directed at children under 16 years of age, and Theorem does not knowingly collect personal information from any child under the age of 16. If we learn that we have collected or received personal information from a child under 16 without verification of parental consent, we will delete that information.
Theorem does not knowingly disclose the personal information of children under 16 years of age to third parties for monetary or other valuable consideration or for the purpose of targeted advertising (i.e., “sell” or “share,” as those terms are defined under applicable data privacy laws)
This Policy may be updated from time to time to reflect changes in our data processing activities, business practices, and applicable law. Each time we update this Policy, we will indicate when it was most recently updated and the Policy’s effective date. If we make a material change to this Policy, we may provide you with notice prior to the update taking effect, such as by posting a conspicuous notice on our Site. Unless otherwise stated, the revised Policy is immediately effective upon posting.
10. CONTACT INFORMATION
Questions or concerns regarding this Policy or Theorem’s practices should be directed to the following: 1-888-436-6966 or firstname.lastname@example.org.
Last Updated: March 1, 2023