FAQ
Where will the platform be hosted?
The platform will be hosted in Australia using Microsoft’s Azure platform.
How will you host personal information in the cloud?
Data will be governed by the regions data sovereignty rules. Data will be encrypted at rest and during transit. Data will be segmented in such a way that any required personally identifiable information (PII) can be stored separately and in region specific stores. Presto is compliant with the Office of the Australian Information Commissioner (OAIC) privacy regulations (What is personal information? — OAIC) and the Australian Privacy Act 1988 (Federal Register of Legislation – Australian Government). Microsoft Azure provides information directly related to APRA’s stance on records keeping in the cloud Australian Prudential Regulation Authority (APRA) – Microsoft Compliance | Microsoft Docs as well as their information security compliance.
Does the platform require an AFSL?
No. The platform has been designed to comply with ASIC regulations.
Does the platform require a credit licence?
No. The platform is designed for business-related credit activities only.
Is my client’s data secure?
Yes. Data is encrypted at rest and in transit. Data within the system is secured with strict security access controls, with user access only allowable via Two Factor Authentication. Documents uploaded within workspaces are stored separately in encrypted storage. No client data is mixed or intermingled.
Will data only be captured with client consent?
Yes. The platform has been designed to capture the required client consents.
Does the platform charge a monthly Software as a Service fee?
No. The platform’s fee structure is transactional only, meaning the platform only gets paid by the successful funder upon your client’s successful funding outcome. This aligns our interests.
What fees are we entitled to?
You are entitled to a fixed share of funder referral fees for successful client funding outcomes. You can additionally bill your clients in the normal course of your business for providing such services. The platform will not levy any fees in respect of your standard fees levied to your clients.
How can we ensure compliance with our professional standards?
The platform automates the disclosures required to ensure that your clients understand your role, their rights and obligations.
As accountants, can we still use brokers?
Yes. We have specifically designed the platform to automate your existing workflows while maintaining your control of the client relationship. Whether you, or a broker you recommend, assists your client is entirely up to you and is automated within the platform.
Are we able to white label the platform?
Yes. The standard implementation is for the Presto branded platform. However, feel free to contact our team to discuss your white-label options should you be interested.