Data Retention Policy

Introduction

This document sets out the data retention policies of Verifi Identity Service Limited (“Verifi”) in respect of information received from a Reporting Entity (“Reporting Entity”), customers (“Customers”) of a Reporting Entity and from verification data providers (“Data Providers”) in order to electronically verify the identity of the customer.

Information received from Data Providers

Verifi will obtain information from Data Providers in accordance with Verifi’s agreement with the Data Providers. Verifi will use this data to verify the information provided by a Customer. Subsequent to the verification process, Verifi will not retain any data provided by the Data Provider unless authorised to do so by the Data Provider.

Information received from Customers

Verifi will collect information from Customers on behalf of Reporting Entities. Verifi may use this information to query Data Providers and verify the information against data provided by Data Providers. The comparison may be done by Verifi or the Data Provider.

Verifi will provide a copy of the information obtained from a Customer on behalf of a Reporting Entity to the Reporting Entity as part of the identity verification report.

Verifi will retain information collected from Customers for a period of 7 days for auditing and error checking purposes. Following this 7-day period, Verifi will automatically and securely remove the data from its systems.

Information received from Reporting Entities

Verifi will collect Customer information from Reporting Entities. Verifi may use this information to query Data Providers and verify the information against data provided by Data Providers. The comparison may be done by Verifi or the Data Provider.

Verifi will retain information collected from the Reporting Entity for a period of 7 days for auditing and error checking purposes. Following this 7-day period, Verifi will automatically and securely remove the data from its systems.

This Data Retention Policy is dated 15 December 2020.

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