What type of data do we collect?
Information you give us. This data include the information you give us as part of the application process. It may include personal data such as name, address, email, phone number and date of birth. It may also include other information about your business, such as business plans, bank account details and payment history.
Information we collect about you. As a part of the credit assessment process, we have to collect certain information about you and your business. We do this in order to be able to give you the best possible credit offer. We also do this because we have a legal obligation to fulfill “know your customer” standards under the anti-money laundering and counter terrorism financing regulations. We collect the information from selected third parties, such as credit rating agencies, and from other publically available sources. The information we collect may include:
- Personal and contact information
- Financial information
- Historical information
- Communication information
- Device information
- Geographic information
What do we do with the data?
Provide and improve our services. We process your data to provide our services and offer business loans to small and medium size companies. As a part of this process, we also process your data to improve our service to our customers. More specifically, we process personal data for the following purposes and legal basis as explained below:
|Purpose (why do we need the personal data)||Legal basis (why is the processing necessary)|
|To confirm your identity and verify your personal and contact information.||Fulfill our contractual obligations in connection with the application and comply with applicable laws.|
|To administer the loan application, including credit assessment and KYC requirements.||Fulfill our contractual obligations in connection with the application and comply with applicable laws.|
|To administer the loan.||Fulfill our contractual obligations in connection with the application and comply with applicable laws|
|To prevent fraud and manage risk.||Comply with applicable laws and pursue legitimate interests|
|To comply with applicable laws, such as anti-money laundering and book keeping laws.||Comply with applicable laws.|
|To continue to improve our services, for example by improving credit risk models and to minimize fraud.||Pursue legitimate interests.|
|For internal purposes, including data analysis, testing, research and statistical purposes.||Pursue legitimate interests.|
Credit reference providers. Your personal data may be shared with credit reference providers and other providers of background identity checks. The purpose of such processing is to assess your credit score in connection with the application process and to confirm your identity and fulfill legal requirements.
Third party providers. We may transfer or share your information with selected third parties. We take all reasonable legal and technical measures to ensure your data is protected and is transferred or shared in a secure way with such selected third parties. Additionally, in the event Qred sells or buys any business or assets, we may disclose your personal data to third parties.
Authorities. We have a legal responsibility to prevent money laundering and terrorism financing. When necessary to comply with a legal obligation, Qred may disclose personal data to the authorities (e.g. the police, tax agencies or other authority).
Marketing and communication. We may also use your contact information to communicate with you. This can include customer satisfaction surveys or emails with related offers based on our previous relationship with you. You may at any time object to receiving direct marketing material from us. Just send us an email to firstname.lastname@example.org with your request.
Where do we store your personal data? We try to process all personal data within the EU/EEA region. However, at some point the data may be transferred to, and processed in, a third country by a supplier or subcontractor. We always take all reasonable steps to safeguard your personal data and keep the data protected by at least the same level of protection as offered within the EU/EEA.
How long do we keep your personal data? We keep your personal data only for as long as necessary to fulfil our contractual obligations towards you and as required by law. We only keep the data for as long as necessary for the specific purpose.
Your right to access, rectification and erasure
Right to access your data. You may request information regarding your personal data we are processing. Requesting information is free of charge.
Right to rectification. You have the right to object to personal data that is being inaccurate. We will correct the inaccurate information. Along the same lines, you have the right to have incomplete personal data completed.
Right to erasure (“right to be forgotten”). You have the right to request the deletion of your personal data, to the extent that such data is no longer necessary for the purpose it was collected. At the same time, as a financial institute, Qred also has a legal obligation that prevents us from deleting parts of your personal data. In such case, the data we are obligated to keep will not be used for any other purpose than meeting the legal requirements.
Contact us Qred AB (publ) is registered with the Swedish Companies Register under registration number 559031-0685 with its principal place of business at Tulegatan 15, 113 53 Stockholm, Sweden. You can reach us with privacy related questions or concerns at email@example.com.