Borrower Privacy Policy


Prodigy Finance Limited of Palladium House, 1-4 Argyll Street, London, W1F 7LD, United Kingdom, Company No. 5912562 ("Prodigy Finance" or “we” or “us”) is committed to protecting and respecting your privacy. Our UK Data Protection registration number is Z9851854).

This privacy policy sets out the basis on which we will process any personal data we collect from you, or that you provide to us. Please read this policy carefully before agreeing to it. Any changes we may make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

By agreeing the policy in the manner specified at our website at (“our site”):

  1. you represent and warrant that:
    1. you have read and understood this privacy policy;
    2. all the personal data you provide to us is complete, true and accurate to the best of your knowledge and belief;
    3. other than to comply with our lawful instructions, you will not share with, publish or disclose to anyone any information relating to any students, any other members of the Prodigy Finance loan community and/or the business, products, services, affairs, clients or finances of Prodigy Finance (or any of its affiliates and partners) and will keep such information secure and strictly confidential at all times;
    4. you will not share, for whatever reason, your log-in details to access our site and will keep them secure and strictly confidential at all times.
  2. you consent to Prodigy Finance requesting your university to disclose certain information relating to you (e.g. current or past addresses, the status of your completion of the course) for the purpose making and administering any loan requested by you;
  3. you consent to your university disclosing your personal data to Prodigy Finance for the purpose making and administering any loan requested by you;
  4. you also consent, in particular, to:
    1. the processing of any sensitive personal data listed in Section 1 in accordance with this privacy policy;
    2. any transfer of personal data outside the European Economic Area as explained in Section 2.

Please note that you are not required to provide any personal information for publication on the public areas of our site.

Certain countries have requirements for their citizens to notify government departments or ministries (or fulfil other conditions) when making foreign exchange loan transactions. Should such a requirement exist in your country, it is your sole responsibility to ensure that you comply with such requirements.

If you have any questions regarding this privacy policy, please email us at

  1. The information Prodigy Finance collects
  2. Prodigy Finance acts as a lender, a consumer credit broker and administers loans on behalf of MBA Community Loans plc. (Company number 486917 and registered office at AIB International Centre, I.F.S.C., Dublin 1, Ireland) through which alumni, universities and others invest in the loans we make. Prodigy Finance only collects personal information relevant to the granting of the Loan by us or the Lender. This information is given directly by you and by people or companies authorised by you to act on your behalf (for example, a potential Lender, a university or an alumni association you are a member of), and it may also include information obtained from those third parties authorised by you to share such information with Prodigy Finance.

    We may collect and process the following information about you:

    • Information that you provide by filling in forms on our site. This includes information provided at the time of registering to use our site, subscribing to our service, posting material or requesting further services. We may also ask you for information when you report a problem with our site.
    • Information about your financial interests, financial position, or loan repayment performance.
    • Your contact details, including your e-mail address, home address and telephone numbers and (where applicable) the contact details of your first of kin.
    • Prodigy Finance may make and retain copies of passports or other identification evidence that you provide.
    • Records of any correspondence between you and us.
    • Records of any surveys that we may ask you to complete that we use for research purposes, although you do not have to respond to them.
    • Details of transactions you carry out through our site and of the fulfilment of your loan repayments.
    • Details of your visits to our site and the resources that you access.
    • Information about your physical or mental health or condition (where necessary and appropriate).
    • Your racial, ethnic or geographic origin or religious or similar information (in order to monitor compliance with any applicable equal opportunities legislation, investment diversification requirements or policies of the relevant universities or other institutions);
    • Information relating to any criminal proceedings in which you have been involved.
    • Credit checks to comply with obligations to assess your creditworthiness.
    • Information relating to your performance of any obligations under any loan we make to you.
  3. Where we store your personal data
  4. The data that we collect from you is generally stored in the United Kingdom (“UK”), but it may also be transferred to, and stored at, a destination outside the European Economic Area ("EEA"), where it may be processed by staff operating outside the EEA who work for us or for one of our suppliers or partners. Such staff may be engaged in, among other things, the processing of your payment details and the provision of support services (such as with regard to credit checks, debt collection etc.). By submitting your personal data, you agree to this transfer, storing or processing. We will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with this privacy policy.

    Where we have given you (or where you have chosen) a password that enables you to access certain parts of our site, you are responsible for keeping this password confidential. We ask you not to share a password with anyone.

    Once we have received your information, we will use procedures and security features to try to prevent unauthorised access. However, the transmission of information via the Internet is not completely secure and, while we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our site; any transmission is at your own risk.

  5. Use of Personal Information
  6. Prodigy Finance acts as data controller when using your personal data in the course of the Loan and managing loans on behalf of individual Lenders, and as data processor on behalf of Lenders in the course of your loan relationship with them.

    We use information held about you in the following ways:

    • To ensure that content from our site is presented in the most effective manner for you and for your computer.
    • To provide you with information, products or services that you request from us or which we feel may interest you, where you have consented to be contacted for such purposes.
    • For statistical analysis.
    • To develop and improve our products.
    • To update your records.
    • To identify which of our, or others', products might interest you.
    • To assess lending and insurance risks.
    • To arrange, underwrite and administer insurance and handle claims.
    • To identify, prevent, detect or tackle fraud, money laundering and other crime.
    • To carry out regulatory checks.
    • To keep you informed about your loan and for market research.
    • To carry out our obligations arising from and exercise our rights under, any agreements between you and us.
    • To allow you to participate in interactive features of our service, when you choose to do so.
    • To notify you about changes to our service.

    Subject to your consent, we may also use your data, or permit selected third parties to use your data, to provide you with information about goods and services which may be of interest to you and we or they may contact you about these by post, telephone or e-mail.

  7. Disclosure of your information
  8. We may disclose your personal information to any member of our group, which means our subsidiaries and our ultimate holding company and its subsidiaries, based in the UK, in any part of the EEA or elsewhere.

    Prodigy Finance will keep your personal data confidential and only disclose it to others for the purposes explained when you applied, and:

    • In the event that we sell or buy any business or assets, in which case we may disclose your personal data to the prospective seller or buyer of such business or assets.
    • If Prodigy Finance limited or substantially all of its assets are acquired by a third party, in which case personal data held by it about its customers will be one of the transferred assets.
    • If we are under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply any agreements we have entered with you; or to protect the rights, property, or safety of Prodigy Finance, our customers, or others. This includes exchanging information with other companies and organisations for the purposes of fraud protection and credit risk reduction.
    • If you request it, or give your permission to do so.
    • To a credit reference agency to check your identity and to prevent fraud, (they will also keep a record of your request and use it whenever anyone applies to be authenticated in your name).
    • To tell credit reference agencies that you have an account and how you run that account.
    • To agents and subcontractors, acting for either Prodigy Finance or a Lender, to use for the purpose of operating the lending business and obtaining payment.
    • To investigate, prevent or detect fraud or carry out checks against money laundering.
    • To organisations providing a centralised application matching service which they collect from and about mortgage and/or credit applications, for the purpose of preventing and detecting fraud.
    • To a credit broker in the event that you apply to borrow money, your application is declined or the loan monies are otherwise unavailable and Prodigy Finance reasonably believes that the credit broker may be able to help you obtain a loan.
    • To debt collectors and other third parties to trace you and recover any debt.
    • For audit purposes and to meet obligations to any relevant regulatory authority or taxing authority.
    • To your university and members of your alumni community, in accordance with Section 6 below.

    Prodigy Finance will check your details with a fraud prevention agency/agencies and if you give false or inaccurate information and Prodigy Finance identifies fraud, this will be recorded and Prodigy Finance and other organisations, including law enforcement agencies and debt collection agencies, may access, use and search these records to:

    • help make decisions about credit and credit related services, for you and members of your household;
    • help make decisions on motor, household, credit, life and other insurance proposals and insurance claims, for you and members of your household;
    • trace debtors, recover debt, prevent fraud, and to manage your accounts or insurance policies;
    • prevent fraud and money laundering, for example, when:
      • Checking details on applications for credit and credit related or other facilities;
      • Managing credit and credit related accounts or facilities;
      • Checking details on proposals and claims for all types of insurance; and
      • Checking details of job applicants and employees.

    Please contact us at if you want to receive details of the relevant fraud prevention agencies.

    Any credit reference agency Prodigy Finance searches will keep a record of any search, and other lenders may use it to assess applications they receive from you in the future. As a general rule, we will give you at least 28 days’ notice if any decision to file notice of any default by you in your obligation to make repayments on your credit reference file. However, we may not always give you notice beforehand, for example, if enforcement action is planned.

  9. Your rights
  10. You have the right to ask us not to process your personal data for marketing purposes. We will usually inform you (before collecting your data) if we intend to use your data for such purposes or if we intend to disclose your information to any third party for such purposes. You can exercise your right to prevent such processing by checking certain boxes on the forms we use to collect your data. You can also exercise the right at any time by contacting us at

    Our site may, from time to time, contain links to and from the websites of our partner networks, advertisers and affiliates. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

    Under the Data Protection Act 1998, you have a right to access certain personal records that Prodigy Finance holds about you. Your right of access can be exercised in writing in accordance with the Act. Any access request may be subject to a fee to meet our costs in providing you with details of the information we hold about you.

    Prodigy Finance aims to keep your personal information up-to-date, so please advise us of any changes by e-mailing or by updating your profile online on You must notify us by emailing within thirty days if any of any change in your name, residential address, telephone number, e-mail address, or referees' address, and any other details we request that we reasonably consider to be material to our dealings with you in relation to your loan facilities. You must also immediately notify us by emailing of your withdrawal or dismissal from your university or school.

  11. Release, Indemnity and Liability
  12. To the extent permitted under applicable law, you hereby release Prodigy Finance its affiliates and partners, and hold Prodigy Finance its affiliates and partners harmless from and against all actions, liabilities, claims, demands, damages, costs and expenses arising out of or in connection with any communication, notification, disclosure, sharing of information (including your personal data) that Prodigy Finance and any of its affiliates or partners may make in accordance with the provisions of this Privacy Policy.

    To the extent permitted under applicable law, you shall indemnify Prodigy Finance its partners and its affiliates, and hold Prodigy Finance its partners and its affiliates harmless from and against all actions, liabilities, claims, demands, damages, costs and expenses arising from or in connection with any breach by you of this privacy policy.

    While Prodigy Finance has used and shall use its reasonable endeavours to ensure that all the applicant’s personal data shall be kept confidential as required by the Data Protection Act 1998, Prodigy Finance shall not be liable for any loss or damage incurred by the applicant in the event that third parties wrongly gain access to the applicant’s personal data, other than through Prodigy Finance’s own negligence or wilful misconduct.

    To the extent permitted by applicable law, Prodigy Finance’s liability (and the liability of any of its affiliates and partners) arising from or in connection with this privacy policy shall be limited to the amount of any fees you pay to Prodigy Finance in relation to your loan.

    To the extent permitted by applicable law, Prodigy Finance shall not be liable for any indirect, special or consequential loss or damage, including: loss of income or revenue, loss of business, loss of contract, loss of anticipated savings, loss of goodwill, loss of opportunity, or loss of data.

  13. Community Lending
  14. The nature of our community platform means that your loan facility is provided by members of the community (including alumni, classmates, Lenders, schools and other stakeholders). Your repayment history is relevant to these community members, and may be shared with them.

    Should your repayments not be made on time, or should your account fall into default (without having made a prior arrangement with Prodigy Finance), this status may be notified to members of this community. Prodigy Finance may also communicate with the University, your referees, your classmates or the Alumni Association, inter alia, to verify your most recent address and, if it considers it to be appropriate in its sole and absolute discretion, Prodigy Finance may use members of the Prodigy Finance loan community (e.g. members or officers of the University or School or members of the Alumni Association or your classmates) as informal mediators between you and Prodigy Finance in connection with the recovery of outstanding amounts.

    Your repayment status will also have a direct impact on the ability of future students to obtain Loans by or through Prodigy Finance. Prodigy Finance may therefore share information on your account and the performance of your account (whether positive or negative) with investors, university and the alumni association of the university, should this be required or deemed appropriate in our sole and absolute discretion.

  15. Cookies
  16. A “cookie” is information that a website stores on your machine so that it can remember something about you at a later time. Cookies are commonly used on the Internet and do not harm your system. Most browsers are initially set up to accept cookies. Prodigy Finance uses both permanent cookies and temporary cookies (called session cookies). Permanent cookies stay on your computer between visits Session cookies disappear when you leave and close your browser. These cookies are used to:

    • count the number of times you return to the site and the pages that you visit
    • store your logged in status. Once you have logged in to a cookie will help your computer to automatically log in again in the future, until you explicitly log out
    • store other settings, e.g. to show you have engaged in activities available on

    The information stored in our cookies is kept separate from your Personal Information and will never be used with it.

    You can reset your browser to refuse all cookies or to warn you before accepting cookies. For more information on how to do this, visit

    Please note that by deleting our cookies or disabling future cookies you may not be able to access certain areas or features of our site.

    Log files record visitors' use of the site. Prodigy Finance can collect information about site usage from the data contained in these logs from third parties. Log files do not contain any personal information and they are not used to identify any individual person’s use of the site. When a visitor requests any web page from our site, web servers automatically obtain that visitor's domain name and IP address. The domain name and IP address reveal nothing personal about you other than the IP address from which you have accessed our site. This information is used to examine traffic in aggregate, to investigate abuse of our site and its users, and/or to cooperate with law enforcement. It is not disseminated to third parties except in aggregate.

  17. General
  18. This Privacy Policy shall be governed by and construed in accordance with English law.

    Any dispute arising out of or in connection with this Privacy Policy, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration under the Rules of the London Court of International Arbitration, which Rules are deemed to be incorporated by reference into this clause, and for the purposes of such referral:

    1. The number of arbitrators shall be one.
    2. The seat, or legal place, of arbitration shall be London in the United Kingdom.
    3. The language to be used in the arbitration shall be English.

    Insofar as any dispute cannot be referred to or finally resolved by arbitration by reason of any law, rule, administrative order, or judicial or arbitral decision, the parties agree that the courts of England shall have non-exclusive jurisdiction to decide such dispute.

  19. Contact
  20. You agree that we may call you, leave you a message, or send you a text, e-mail, or other electronic message for any purpose related to your expression of interest in our site, your loan with us, our products and services, or surveys or research (each a "Communication"). You agree that we may call or text you at any telephone number associated with your loan, including cellular telephone numbers, and may send an e-mail to any email address associated with your loan. You also agree that we may include your personal information in a Communication. In addition, you understand and agree that we may communicate with you in any manner permissible by law that does not require your prior consent.