Cyber Security with Nano: Your questions answered

4 minutes

Why your sensitive data is safe with us 

As a new breed of online lender, Nano is known for doing things differently. Digitally. The fact we can access new technology is what allows us to operate in such an agile and effective way.  

But as always with digital tech, and particularly in relation to people’s sensitive financial information, questions around cyber-security arise. So, we’d like to dispel any concerns you may have. 

Your private information is safe and secure 

Our mission is to use our proprietary  technology to deliver   fast, simple, and fair lending experience. With that comes a responsibility to protect you, your money and your identity every step of the way. 

To do this, we use industry leading, rigorous processes and system controls. We adhere to the National Consumer Credit Protection Act 2009 and operate within the established Australian Securities Investment Commission guidelines. 

These protocols are set in stone. So, you can rest easy knowing your personal information stays protected. We understand this is important; after all, we’re dealing with your personal bank accounts, so of course you need to feel reassured.  

Stringent privacy and cyber security training for all staff 

We also comply with and take our legal and regulatory obligations, including the Privacy Act and the Credit Reporting Code, very seriously. (You can find more information regarding the collection, storing and use of your personal information in the Nano Privacy Statement & Policy.) 

All Nano customer support team members are across the relevant legal requirements and our own stringent security processes, which are paramount in our dealings with customers.  

Why do we ask for your data? 

Data helps Nano deliver a fast and seamless lending experience. We use financial technology to deliver home loan approvals in minutes, not weeks. But in order to do this, we need to be able to get a digital snapshot of your income and expenses. This allows us to quickly ascertain your full financial picture, and make lending decisions accordingly.  

This form of digital review simply replaces the old method of you manually supplying reams of paperwork such as bank statements or payslips, which is commonplace in traditional loan applications.  

What happens when we assess your details? Is your information really secure? 

Yes, it is. Nano uses 256-bit data encryption across all sensitive information where required. That’s the same level as the tier 1 banks. 

When we access your banking information through our secure portal, it’s on a strictly one-time-use only basis. Nano never actually see or store your banking username or password. And access to personal customer information is limited only to those staff requiring it for their daily activities. 

Also, all transaction history and account detail data is ‘read only’, meaning we can never transfer or transact with any of your accounts.  

All data is securely stored, using the most trusted encryption possible. However, once  the  ‘snapshot’ of your transaction data is taken, the secure connection is closed, never to be reopened. 

Have your finances verified, with true peace of mind 

We have put all these processes in place to protect your privacy, identity and data. Ensuring we have the appropriatesecurity will always be of paramount importance to us. In establishing our service, we made 100% sure that customers’ digital safety was never able to be compromised. 

We’re confident that the way we do things allows us to offer a secure online service that makes getting a home loan hassle-free, transparent, fast – and totally cyber-safe. 

It’s in the vault: Our safety features at a glance

  • 256-bit data encryption 
  • Totally secure portal with one-time-use only  
  • Banking usernames and passwords never seen or stored 
  • Customer information limited only to staff directly involved 
  • All transaction history and account data is ‘read only’ 
  • Secure connection permanently closed after use 
  • Stringent staff training processes 
  • Observing National Consumer Credit Protection Act 2009 and ASIC guidelines