Privacy Policy

It is important to us that you feel safe with us at Qred. Therefore, at Qred, with this privacy statement we want to describe how we collect and store your personal data and why we do it. Here you can read about the rights applicable to the personal data that we process, and how you can exercise your rights.

In order to provide our services and business loans, we need to be able to process and use personal data as described in this privacy policy.

"We", "our" or "us" means Qred Bank AB (reg. no. 559008-9800) and all other companies within the Qred Group - Qred Holding AB (publ) (reg. no. 559031-0685) is registered in the Swedish Companies Register. Our head office is located at Drottninggatan 98, 111 60 Stockholm. For the purposes of EU data regulation, we are responsible for the processing of the personal data we receive from you, or that we otherwise collect about you, and we are responsible for ensuring that we use your personal data in accordance with the applicable General Data Protection Regulation (GDPR: EU Regulation 2016/679).

By visiting our website, you consent to the processing of personal data described in this policy.

1 What kind of personal data do we process?

Information you give us.
This includes personal data you give us as part of the credit application. It also includes personal data such as name, address, e-mail, telephone numbers and national ID numbers. You may also be asked for information about your business, such as business plans, bank account information and payment history.

Information we collect about you.
We collect certain information about you and your company in connection with the credit assessment we do on you. We do this to give you the best possible credit offer and to comply with our legal obligations according to KYC (know your customer), anti-money laundering and anti-terrorist financing. We also collect information from third parties such as credit rating agencies and other publicly available sources of information. This information may include the following:

Identification and contact information : name, date of birth, ID number, address, telephone number, nationality, etc.
Financial information : information collected from a third party, such as income and other credit information.
Credit history: information obtained from a third party, such as financial history, negative payment notes and previous payment and credit acceptances.
Information about how you use our Services and communicate with us : how you use the Services, including information about outstanding and historical debt and your repayment history with Qred; technical data such as page response times, download errors, personal preferences; your interactions with the Qred customer team, etc.
Device information : information such as IP address, language settings, browser settings, operating system, platform and screen resolution.
Geographic information : information about your geographical location.
Information from external sanctions lists and PEP lists : We can screen your information against lists of persons subject to sanctions, and lists of persons who are so-called politically exposed persons.
Special categories of personal data : you may, on a voluntary basis, choose to provide us with information that may be classified as "special categories" of information under EU Regulation 2016/679, which includes information that reveals your religion, political or philosophical beliefs, trade union membership , or information about health, sex life or sexual orientation. We will never ask for that information in order to offer our services. Should you provide us with such information, it shall be deemed entirely voluntary and based on your express consent. If you want to know more about consent and how you can revoke it, see the consent section further down.
Service-specific information: In order to provide you with some of our services, we may collect and process additional personal data not covered by the categories above.

2 What do we do with the data?

We process personal data in order to be able to offer business loans to small and medium-sized businesses. As part of this process, we also collect personal data to improve our service. Below is an overview of how we process personal data and the legal basis for processing:

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Personal data processed	Purpose of the processing	Legal basis for the processing
Contact and identification information, payment information, financial information, device information and service-specific information.	To verify the identity of the customer in the external relationship and to verify your contact information.	Perform our contractual obligation, either when we are in the process of entering into an agreement with you or when we have entered into an agreement with you. We must therefore collect relevant personal data in order to fulfill our contractual obligation with you. We also have a legal obligation to satisfy KYC requirements and establish our customers' identities.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred, device information, information from external sanctions lists and PEP lists, and service-specific information.	To administer the Service, for example by performing a credit assessment and a KYC ("Know Your Customer").	Perform our contractual obligation, either when we are in the process of entering into an agreement with you or when we have entered into an agreement with you. We must therefore collect relevant personal data in order to fulfill our contractual obligation with you. We also have a legal obligation to satisfy KYC requirements and establish our customers' identities.
Contact and identification information, payment information, information about products/services, financial information, device information, information about the interaction between you and Qred, and service-specific information.	To administer the Service.	Perform our contractual obligation, either when we are in the process of entering into an agreement with you or when we have entered into an agreement with you. We must therefore collect relevant personal data in order to fulfill our contractual obligation with you. We also have a legal obligation to satisfy KYC requirements.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred.	To prevent fraud and manage risks.	To comply with laws that require Qred to collect certain information about our customers. We also have a legitimate interest in preventing fraud. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred, device information, information from external sanctions lists and PEP lists, and service-specific information.	To comply with laws, such as AML regulation and bookkeeping laws.	To comply with laws that require Qred to collect certain information about our customers.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred.	To improve our services, for example by improving our credit modules and minimizing the risk of fraud.	Qred has a legitimate interest in managing internal risks, especially risks associated with fraud. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred, device information, information from external sanctions lists and PEP lists, and service-specific information.	For internal purposes, such as data analysis, testing and statistical purposes.	Qred has a legitimate interest in managing data analysis, testing and statistics. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred, information about how you interact on Qred's platform - device information.	Provide you with marketing and personal offers about our services. You are free to unsubscribe from this at any time by contacting us, see Qred's contact information further down.	Qred has a legitimate interest in providing marketing and personalized offers regarding our services. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred, device information, information from external sanctions lists and PEP lists, and service-specific information.	To analyze data for product development and product testing (ie improving our risk and credit modules).	Qred has a legitimate interest in performing data analysis for product development and product testing. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.

Improve our services, training and quality assurance, as well as document what has been discussed and decided between you and Qred's customer service.	Recorded phone calls.	Qred has a legitimate interest in improving our services by assessing the quality of our services and collating what is discussed and decided between you and Qred's customer team. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose. As a payment institution, Qred has a legal obligation to document and collect personal data that is necessary for its operations.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred.	Carry out a creditworthiness assessment before a credit application is approved.	Carry out our contractual obligations towards you when we are in the process of entering into an agreement with you. We must therefore collect relevant information to fulfill our contractual obligation.
Improvement; carry out customer satisfaction surveys regarding our services, via e-mail, SMS, telephone or in other ways.	Qred has a legitimate interest in improving our services by assessing the quality of our services. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.	Contact and identity information, financial information (if we have it available) and information about how you interact with Qred.
Contact and identity information, financial information (if we have it available) and information about how you interact with Qred.	To determine the best way to communicate with you and to contact you regarding outstanding debts.	Qred has a legitimate interest in being able to contact you in an efficient manner. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.
Contact and identification information, information about products/services, information about how you interact with Qred, device information and service-specific information.	To determine the type of marketing to offer. This processing of data stops if you choose to end your subscription. This may involve profiling (please see below for more information).	Qred has a legitimate interest in determining what marketing to offer you. We ensure that the processing of data in accordance with this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about the interaction between you and Qred, device information, information from external sanctions lists and PEP lists, and service-specific information.	Protect Qred from legal claims and enforce Qred's legal rights.	Obey laws. Qred has a legitimate interest in protecting itself against legal claims, and in enforcing its legal rights. We ensure that the processing carried out for this purpose is necessary to fulfill our legitimate interest, and that our interest outweighs your interest in not having your personal data processed for this purpose.

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3 Qred's credit services_200D↩

The following services mean that Qred gives you a credit:

Qred business loan

Your personal data is shared with credit rating companies and other providers to perform a check of your creditworthiness when you apply for a business loan (Qred loan).In order to provide our services, we perform a credit rating of you (credit check). The credit assessment is based on contact and identification information, information about how you interact with Qred and other financial information. Financial information includes information provided externally by companies that perform credit ratings based on, for example, income and payment defaults.The credit rating is based on contact and identification information and information about how you interact with Qred. This includes how you interact and communicate with us, but also financial information that you provide us with, such as transaction records, bank statements and external information from credit rating companies.

4 Marketing and communication

We may come to use your contact information to communicate with you. We may do this either by conducting customer surveys or to send out offers regarding our products/services based on our relationship with you. If you choose not to receive such communications/information, you may contact us at privacy@qred.com at any time.
In order to provide you with customized offers and discounts etc, we look at information about how you interact with Qred, your contact and identification information, information about products/services and your use of these services. This processing may constitute profiling (see point 6 for more information). The information is the basis for Qred's market and customer analysis, as well as the development of statistical information. We customize offers where we use contact and identification information, information about payment patterns and your interaction with Qred to improve our services and improve our offers. We may use information to present personalized offers via post, e-mail, text message or other digital channels.

You can unsubscribe from customized personal offers either by clicking on the link in the digital communication or by contacting us directly (see contact information below).

5 Consent

In those cases where Qred processes your personal data based on your consent or express consent (for example, when you give us an authorization for a third party to access your information, or provide us with additional information that constitutes sensitive data). You can revoke this consent at any time by contacting us. Withdrawing your consent will not result in any reduction in the provision of our service as we do not need this information to provide our services.

6 Profiling and automated decision-making

"Profiling" means the automated processing of personal data to evaluate certain personal aspects relating to you, for example to analyze or predict aspects of your financial situation or your preferences, for example purchasing interests. We use profiling based on the personal data we have about you to make individual or automated decisions about you, for the following purposes:

Predict what marketing content will be of interest to you. You can always object to this and unsubscribe from marketing and this profiling by contacting us. For further information on our processing of personal data for marketing purposes, see section 4 above);
Determine which offers may suit you;
Determine the most appropriate way to contact you regarding outstanding debts;

In addition, some of our services use profiling to deliver the relevant service to you, for example to deliver relevant financial insights to you, or to select personalized offers for you, in accordance with the terms of the relevant service.

Decisions with legal or equivalent significant effect

Automated decision-making with legal effects, or automated decisions with a similarly significant effect, means that some decisions in our services are based solely on automatic means, without interaction from any of our employees, and have a significant impact on you who use them. By making such decisions in an automated manner, Qred increases the objectivity and transparency of the decisions in the provision of these services.

We use this type of automated decision-making when we:

Determine whether we will approve your application to use a credit service;
Determines whether we should decline your application to use a credit service;
Determines whether you pose a fraud or money laundering risk. For example, if our processing reveals that you are engaging in behavior consistent with money laundering or other fraudulent behavior, that your behavior is inconsistent with your past use of our Services, or that you appear to have intentionally concealed your true identity. In relevant cases, Qred also checks whether a specific customer is listed on a so-called sanctions list.

You always have the right to challenge an automated decision that has a legal or similarly significant effect (together with the profiling associated with it). Contact us by email privacy@qred.com.. A Qred employee from the customer team will then look into your case.

7 Parties we may share your personal data with

‍ ‍ Suppliersor subcontractors. We may potentially share personal data with the suppliers and subcontractors we use to provide our services to you. For example, we have several software suppliers and business consultants. They process the personal data received from us on our behalf. We may also share personal data with other financial service providers with whom we have a business relationship. We take reasonable legal, technical and organizational measures to ensure that personal data is shared securely.

Credit rating companies. Your personal data will be shared with credit reference agencies and other similar providers to ensure that credit checks are carried out before you apply for a loan.

Authorities. We have a legal obligation to prevent money laundering and the financing of terrorism, and to comply with other regulatory requirements. Qred may share your personal data with authorities (such as the police or tax authorities) when deemed necessary to fulfill a legal obligation.

Debt collection companies. Qred can share personal data when we sell or commission a debt collection company to collect a debt. The sharing of personal data in this connection is based on our legitimate interest in selling and collecting debts. The debt collection companies will process the personal data either in accordance with their own privacy guidelines or on behalf of Qred. Debt collection companies may also report your unpaid debt to credit rating agencies or enforcement authorities, which may affect your creditworthiness and your prospects of applying for future credit.

Disposal. In the event that Qred sells or buys claims, business or assets, Qred may disclose your personal data to the prospective seller or buyer of such claims, business or assets. If Qred's or substantially all of its assets are acquired by a third party, personal information about Qred's customers may be disclosed and shared.

Social Media. In those cases where you contact us via social media in any way, such as Facebook, Twitter or Instagram, your personal data will be subject to processing, even for the platform, in accordance with the respective platform's privacy policy.

8 Where do we process personal data?

We work to process all personal data within the EU/EES. In some cases, the information may be transferred to and processed in countries outside the EU/EES by another supplier. Qred ensures that reasonable legal, technical and organizational measures are taken to ensure that all data is managed in a secure manner. We ensure that an adequate level of protection is maintained, and that suitable security measures are adopted in line with current regulations.

9 How long do we process your personal data?

We will process your personal data for the period of time needed to fulfill the respective purpose of our processing, for example contractual obligation. These purposes are described in this privacy policy. This means that even if we stop processing your personal data for one purpose, we may still need to retain your personal data if the data is necessary for another purpose, for example due to a legal obligation.

10 Your right to access, correction and deletion.

Right to be informed. You have the right to be informed about how we process your information. We do this through this privacy policy, other information on our website and by responding to questions sent to us.

Right to access your data. You can request a copy of your data if you want to know what personal data we process about you. This copy of your personal data may also be transferred in a machine-readable format (ie "data portability").

Right to rectification. You have the right to correct inaccurate or incomplete information about yourself.

Right to deletion. You have the right to request the deletion of your personal data, for example when it is no longer necessary for us to process the data for the purpose for which they were collected, or when you have withdrawn your consent. In some cases, however, we are obliged to retain the data due to a legal obligation established by law.

Right to restrict the processing of your data or object to our processing. If you believe that your information is incorrect or you believe that we are using your data illegally, you have the right to ask us to stop processing it. You can also object to our processing where you believe there are circumstances that would make such processing illegal. Furthermore, you can always object to us using your data for direct marketing.

Right to withdraw consent. Where we process your data based on consent or express consent, you can withdraw this consent at any time.

Right to complain. You have the right to lodge a complaint with your national data protection supervisory authority or by contacting us, see contact details below.

11 Our cookie policy

We use cookies and similar technologies when you use our website to improve the customer experience. We also use cookies to collect statistical data about how our website works and are used for the purpose of improving our systems and our websites. In order to create a tailored experience, Qred uses cookies and tracking technologies in our interfaces, such as our website. You can find information about cookie tracking technologies and how to accept or reject it in our online interfaces.

12 Contact us

Qred is registered with the Swedish Companies Register and has organization number 559008-9800.

The company's head office is located at Drottninggatan 98, 111 60 Stockholm. If you have any questions about this privacy policy or how we process your personal data, please contact us at privacy@qred.com.

You are always welcome to contact us with questions regarding privacy information and personal data. See also our website qred.no for more information about us.

13 Miscellaneous

Update of privacy statement. Qred may update and make changes to this privacy policy as Qred deems appropriate. Notice of this may be posted on our website.