Privacy Policy

Qred understands the importance of your personal integrity and privacy. The purpose of this Privacy Policy is to describe how Qred collects and stores your personal data and why Qred does it. In addition, this document describes your rights in relation to your personal data that we process, and how you can exercise them.

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

"Qred," "we," "us," "our" or "us" means Qred Bank AB (org. no. 559008-9800) and all other companies within the Qred Group - Qred Holding AB (publ) (org. no. 559031-0685) - registered with the Swedish Companies Registry and headquartered at Drottninggatan 98, 111 60 Stockholm, Sweden. For the purposes of EU data regulations, we are the data controller with respect to the personal data we receive from you or otherwise collect about you. We are also responsible for ensuring that we use your personal data in accordance with applicable data privacy legislation (EU Regulation 2016/679).

By visiting our website you approve the processing of personal data described in this policy.

1 What kind of personal data do we process?

Information you provide to us. This includes any personal data that you provide to us, including data provided during a loan application. This includes personal data such as name, address, email, telephone numbers and national identification numbers. You may also be asked for information about your business, such as your business plans, bank account details and payment history.

Information we collect about you: As part of the credit review process, we need to collect certain information about you and your company. We do this in order to provide you with the best possible credit offer and to comply with our legal obligations under the Know-Your-Customer (KYC), anti-money laundering and anti-terrorist financing laws and regulations. We also collect information from third parties, such as credit rating agencies and other publicly available information sources. This information may include the following:

Identification- and contact information:name, date of birth, identification number, address, telephone number, nationality etc.
Financial information: information collected from third parties, such as data on your income and other credit information.
Credit history: information collected from third parties, such as financial history, negative credit registrations and previous payment and credit acceptances.
Information about how you use our services and interact with us. We collect information about how you use our services, including details of outstanding and historical debts and your payment history with Qred; technical data such as web page response times, download errors, personal preferences; your interactions with Qred's customer service team, etc.; and information about how you use our services.
Device information: information such as IP address, language settings, browser settings, operating system, platform and screen resolution.
Geographical information: Information about your geographical location.
Information from external sanctions lists and PEP lists: We may screen your information for lists of persons subject to sanctions as well as lists of persons designated as 'politically exposed person' (PEP).
Special categories of personal data: You may, on a completely voluntary basis, choose to provide us with information that can be classified as "Special Categories of Data" under EU Regulation 2016/679, including information revealing your religious, political and/or philosophical beliefs, trade union membership, or information concerning health, sex life or sexual orientation. We will never ask for this information in order to provide our services. If you choose to provide us with such information, it will be considered completely voluntary and based on your explicit consent. If you would like to know more about consent and how to withdraw it, please see the section on consent, below, in this privacy policy.
Service-specific information: in order to provide you with some of our services, we may collect and process additional personal data that do not fall under the above categories.

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2 What do we do with this information?

We use this information to provide and improve our services. We process personal data in order to provide our services and grant business loans to small and medium-sized enterprises. Part of this process is also collecting data to improve our services. Below you will find an overview of how we process personal data and what the legal basis for processing these data is:

Personal data that are processed	The purpose of processing	Legal basis for processing
Identification and contact details, payment information, financial information, device information and service-specific information.	To confirm the identity of the remote customer and to verify contact details.	To fulfil our contractual obligation, either when we are in the process of entering into an agreement with you or when we have already entered into an agreement with you. We need to collect relevant personal data to fulfil our contractual obligation with you. We also have a legal obligation to comply with KYC requirements and to establish the identity of our customers.
Identification and contact details, payment information, information about services/products, information about the interaction between you and Qred, information about equipment, information from external sanctions lists and PEP lists and service-specific information.	To be able to offer our services, e.g. by performing a credit assessment and a KYC (Know-Your-Customer) check.	To fulfil our contractual obligation, either when we are in the process of entering into an agreement with you or when we have already entered into an agreement with you. We need to collect relevant personal data to fulfil our contractual obligation with you. We also have a legal obligation to comply with KYC requirements and to establish the identity of our customers.
Identification and contact details, payment information, information about services/products, information about the interaction between you and Qred and service-specific information.	To be able to offer our services	To fulfil our contractual obligation, either when we are in the process of entering into an agreement with you or when we have already entered into an agreement with you. We need to collect relevant personal data to fulfil our contractual obligation with you. We also have a legal obligation to comply with KYC requirements and to establish the identity of our customers.
Identification and contact details, payment information, information about services/products, information about the interaction between you and Qred and service-specific information.	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 will ensure that the processing of personal data carried out for this purpose is necessary to fulfil our legitimate interest and that our interest outweighs your interest in not having your personal data processed for this purpose.
Informations de contact et d'identification, informations de paiement, informations sur les produits/services, informations financières, informations sur l'interaction entre vous et Qred, informations sur les appareils, informations provenant de listes de sanctions externes et des listes PPE, et informations spécifiques au service.	To comply with relevant laws and regulations, such as AML legislation and regulations governing accounting operations.	To comply with laws that require Qred to collect certain information about our customers.
Informations de contact et d'identification, informations de paiement, informations sur les produits/services, informations financières, informations sur l'interaction entre vous et Qred,	To improve our services, for example by improving our credit modules and minimising fraud risks.	Qred has a legitimate interest in managing internal risks, in particular those related to fraud. We ensure that the processing of personal data carried out for this purpose is necessary to fulfil our legitimate interest and that our interest outweighs your interest in not having your personal data processed for this purpose.
Informations de contact et d'identification, informations de paiement, informations sur les produits/services, informations financières, informations sur l'interaction entre vous et Qred, informations sur les appareils, informations provenant de listes de sanctions externes et des listes PPE, et informations spécifiques au service.	For internal purposes, such as data analysis, testing and statistical purposes.	Qred has a legitimate interest in analysing, testing and managing statistics. We will ensure that the processing of personal data carried out for this purpose is necessary to fulfil our legitimate interest and that our interest outweighs your interest in not having your personal data processed for this purpose.
Informations de contact et d'identification, informations de paiement, informations sur les produits/services, informations financières, informations sur l'interaction entre vous et Qred, informations sur la façon dont vous interagissez sur la plateforme de Qred - informations sur les appareils.	Provide you with marketing and personalised offers relating to our services. You may opt out at any time by contacting us. You will find Qred's contact details further on in this privacy policy.	Qred has a legitimate interest in providing marketing and personalised offers relating to our services. We will ensure that the processing of personal data carried out for this purpose is necessary to fulfil our legitimate interest and that our interest outweighs your interest in not having your personal data processed for this purpose.
Informations de contact et d'identification, informations de paiement, informations sur les produits/services, informations financières, informations sur l'interaction entre vous et Qred, informations sur les appareils, informations provenant de listes de sanctions externes et des listes PPE, et informations spécifiques au service.	To analyse data for product development and product testing (i.e. improving our risk and credit modules).	Qred has a legitimate interest in carrying out data analyses for product development and product testing purposes. We ensure that the processing of personal data carried out for this purpose is necessary to fulfil our legitimate interest and that our interest outweighs your interest in not having your personal data processed for this purpose.

Recorded telephone calls	Improve our Services, training and quality assurance, as well as documenting what has been discussed and decided between you and Qred’s customer service.	Qred has a legitimate interest to improve our services by assessing the quality of our services and documenting what has been discussed and decided between you and Qred's customer team. We ensure that the processing of personal data performed 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. Qred, as a bank, has a legal obligation to collect and document personal data necessary for the provision of our services.
Informations de contact et d'identification, informations de paiement, informations sur les produits/services, informations financières, informations sur l'interaction entre vous et Qred,	To carry out a credit assessment before approving a loan application.	To fulfil our contractual obligations in relation to you when we are in the process of entering into a contract with you. We therefore need to collect relevant information to fulfil our contractual obligation.
Identification and contact details, payment information including credit history, information about preferences regarding services/products, financial information and information about the interaction between you and Qred.	For business improvement purposes, such as conducting customer satisfaction surveys related to our services, by e-mail, SMS, telephone or other means.	Qred has a legitimate interest in improving our services by assessing the quality of our services. We will ensure that the processing of personal data carried out for this purpose is necessary to fulfil our legitimate interest and that our interest outweighs your interest in not having your personal data processed for this purpose.
Identification and contact details, financial information (if available) and information about the interaction between you and Qred.	To determine the best way for us to communicate and contact you about outstanding debts.	Qred has a legitimate interest in contacting you in an effective manner. We will ensure that the processing of personal data carried out for this purpose is necessary to fulfil our legitimate interest and that our interest outweighs your interest in not having your personal data processed for this purpose.
Identification and contact details, information about services/products, information about the interaction between you and Qred, information about equipment and service-specific information.	To determine what kind of marketing we can offer you. This processing of personal data stops if you choose to unsubscribe. This may involve profiling (see below for more information).	Qred has a legitimate interest in determining what marketing we can offer you. We will ensure that the processing of personal data carried out for this purpose is necessary to fulfil our legitimate interest and that our interest outweighs your interest in not having your personal data processed for this purpose.
Identification and contact details, payment information, information about services/products, financial information, information about the interaction between you and Qred, information from external sanctions lists and PEP lists and service-specific information.	To protect Qred from legal claims and to enforce Qred's legal rights.	To comply with laws and regulations. Qred has a legitimate interest to protect itself against legal claims and to enforce legal rights. We will ensure that the processing of personal data carried out for this purpose is necessary to fulfil 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

The following services will get you business credit from Qred:

Qred Business Loans

Your personal information is shared with credit assessment companies and other vendors to conduct credit checks when you apply for a business loan (Qred loan) or factoring activities from Qred .

In order to provide our services, we carry out a credit assessment on you (credit check). The credit assessment is based on identification and contact information, information about how you interact with Qred and other financial information. Financial information includes information provided externally by companies that perform credit assessments, based on for example income and arrears.

The credit assessment is based on identification and contact information and information about how you interact with Qred. This includes how you interact and communicate with us, as well as financial information you provide to us, for example transaction data, bank account statements and external information from credit reference agencies.

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4 Marketing and Communications

We may use your contact information to communicate with you. We may do this by conducting customer surveys or sending 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 any time at privacy@qred.com.

In order to provide you with customized offers and discounts, we look at information about your interaction with Qred, your identification and contact information, information about products / services and your use of these services. This processing may cause profiling (see excerpt 6 for more information). The information forms the basis for Qred's (Qred Bank AB's) marketing and customer analysis and the development of statistical information. We customize offers based on identification and contact information, information about payment patterns and your interaction with Qred, which we use to improve our services and our offers. We may use information to present personalized offers via mail, email, text message or other digital channels.

You can unsubscribe from personalised, tailor-made offers by clicking on the link in the digital communication or by contacting us directly (see contact details below).

5 Consent

In cases where Qred processes your personal data on the basis of your consent or explicit authorisation (e.g. when you give us power of attorney for a third party to access your information or give us additional information that constitutes sensitive data). You can withdraw this consent at any time by contacting us. Withdrawal of your consent does not result in an inferior version of our services, as we do not need this information to provide our services.

6 Profiling and automated decision making

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

To predict which marketing content is of interest to you. You can always object and unsubscribe from marketing communications, and this profiling, by contacting us. For more information on our processing of personal data for marketing purposes, please see section 4 above);
To determine which offers suit you best;
To determine the most appropriate way to contact you about outstanding debts;

Some of our services also use profiling, in addition, to deliver the applicable service to you, e.g. to provide you with relevant financial insights, to select which offers we can give you (in accordance with the terms of the relevant service).

Decisions with legal or similar significant effects

Automated decision-making with legal effects or automated decisions with similar significant effects means that some decisions in our services are based solely on automated means, without any interaction of our employees. These decisions may have a significant impact on you, the consumer. By making such decisions in an automated manner, Qred increases the objectivity and transparency of its decisions in offering the relevant services.

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

Decide to approve your application for the use of a credit service;
Decide not to approve your application to use a credit Service;

Decide whether you pose a risk of fraud or money laundering, for example, if our processing of personal data shows that you exhibit behaviour that is consistent with money laundering or fraudulent behaviour, your behaviour is inconsistent with your previous use of our services or you appear to have concealed your true identity. In such situations, Qred also checks whether or not a particular customer is 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) by contacting us at the e-mail address privacy@qred.com. A member of the Qred team will then review your situation.

7 Parties with whom we may share personal data

Suppliers or subcontractors. We may share personal data with the suppliers and subcontractors we use to provide our services to you. For example, we have several software vendors and business consultants. They process personal data received on our behalf. We may also choose to share personal data with other financial suppliers with whom we have a business relationship. We take reasonable, legal, technical and organisational measures to ensure that personal data is shared securely.

Credit rating agencies. Your personal data may be shared with credit rating agencies and similar parties to check your creditworthiness when you apply for a loan.

Authorities. We have a legal obligation to prevent money laundering and terrorist financing and to follow other legal requirements. Qred may share your personal data with authorities (such as police or tax authorities) where this is considered necessary to comply with a legal obligation.

Collection agencies. Qred may share personal data when we engage or instruct a debt collection agency to collect a debt. The sharing of personal data in this context is based on our legitimate interest in being able to collect a debt. The collection agencies process the personal data either in accordance with their own privacy policy or on behalf of Qred. The collection agencies may also report your unpaid debts to credit reference agencies or bailiffs, which may affect your creditworthiness and your prospects of applying for future credit.

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

Social media. In cases where you contact us via social media, such as Facebook, Twitter or Instagram, your personal data will be processed (even for the platform) in accordance with the privacy policy of the platform concerned.

8 Where do we process personal data?

We endeavour to process all personal data within the EU / EES. However, in some cases, the information may be transferred to another supplier that processes it in countries outside the EU / EEAS. Qred ensures that reasonable legal, technical and organisational 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 appropriate protection is provided in accordance with applicable regulations.

9 How long do we use your personal data?

We will process and retain your personal data for the period necessary to fulfil the respective purpose of our processing, such as contractual obligations. These purposes are described in this Privacy Policy. This means that even if we stop processing your personal data for a particular purpose, we may still need to keep your personal data if the data is needed for another purpose, for example, due to a legal obligation.

10 Your right of access, correction and deletion.

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

Right to access your personal 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 can also be sent in a machine-readable format (i.e. "data portability").

Right of correction. You have the right to correct incorrect or incomplete information about yourself.

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

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

Right to withdraw consent. Where we process your data on the basis of consent or explicit authorisation, you may withdraw such consent at any time.

Right to lodge a complaint. 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 technology to improve the customer experience when you use our website. We also use cookies to collect statistical data on how our website works and is used, which we use to improve our systems and website. To make your individual user experience even better, Qred uses cookies and tracking technologies in our interfaces, such as our website. You can find more information about these tracking and cookie technologies, and how to accept or reject them, in our online interfaces.

12 Contact us

Qred Bank AB ("Qred") is a bank regulated by the Swedish Financial Supervisory Authority. Qred Bank AB is a Swedish company with Swedish registration number 559008-9800 and registered address at Drottninggatan 98, 111 60 Stockholm, Sweden. For questions about our privacy policy, please contact Qred at privacy@qred.com You can also find more information about our company and business operations through our website at www.qred.com.

13 Miscellaneous

Updating our privacy policy: Qred may update and modify this privacy policy as Qred deems appropriate. Notification of such changes may be communicated through our website.