Privacy Policy

We at Qred care about your personal privacy. The purpose of this data protection policy is to describe how Qred processes your personal data, and the reason why we do so. It also describes your rights towards us and how you can enforce your rights.

In order for us to offer you our services and the best possible service, we need to be able to process your personal data in accordance with what is described in this Data Protection Policy.

"We", "our" and "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) and Qred Factoring AB (org. no. 559221-0180) registered in the Swedish Companies Register and with our head office located at Drottninggatan 98, 111 60 Stockholm. For the purposes of EU information regulations, we are data controllers in respect of the personal data we receive from you, or otherwise collect about you, and we are responsible for ensuring that we use your personal data in accordance with the applicable data protection regulation (EU Regulation 2016/679).

By visiting our website, you agree to the processing described in this policy.

1. What kind of personal data do we process?

Information you provide us with. This includes personal data you provided to us as part of the credit application. This includes personal data such as name, address, email, telephone number and social security number. It also includes information about your business, such as business plans, bank account information, and payment history.

Information we collect about you. In order to offer business loans, we need to collect information about you and your business. We collect the information in order to offer you the best possible credit offer. We must also collect information in order to meet the "know your customer" requirements (customer due diligence) as a payment institution and financial institution respectively, we must relate to under the Money Laundering Act. We collect such information from credit reporting companies and other public sources. The information we collect includes the following categories:

Personal and contact details: name, date of birth, social security number, address, telephone number, nationality, etc.
Financial information: information collected from third parties such as income and any credits.
Historical information: information collected from third parties regarding financial history, negative payment history and previous payment and credit approvals.
Information on how you use our services and communicate with us: how you use the Services, including information on outstanding and historical debts 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: such as IP address, operating system, platform, and browser settings.
Geographical information. Information about your geographical location
Information from external sanctions lists and PEP lists: according to the Money Laundering Act, we are obliged to process customer due diligence data, which also includes comparing information against external sanctions lists and lists of so-called Politically Exposed Persons.
Special categories of personal data: you may, entirely voluntarily, choose to provide us with information that constitutes "special categories" of personal data under EU Regulation 2016/679 ("GDPR"), which includes information that reveals religious beliefs, political or philosophical views, trade union membership, or constitutes information about health, sex life, or sexual orientation. We will never ask for such data to provide our Services. Providing us with such information is entirely voluntary and is based on your explicit consent. Please see the section on Consent, further down. for information on how to withdraw your consent.
Product and service-specific personal data: within the framework of some of our products or services, we may collect and process additional personal data that is not covered by the categories above. .

2. What do we do with the information we process?

Offers and improves our services. We process your personal data so that we can offer our service and offer financial services regarding credit granting to small and medium-sized companies. As part of the process, we also process your personal data to improve our service to our customers. We process personal data for the following purpose and legal basis:

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Personal data processed	Purpose of the processing	Legal basis for the processing
Contact and identification data, payment information, financial information, unit information, and service-specific personal data.	To confirm identity in distance relationships and to verify your contact details.	Perform our contractual obligations to you when we are in a process of entering into a contract or have entered into an agreement with you. We must therefore obtain relevant information in order to fulfil the contractual commitment. We also have legal obligations in the form of laws and regulations that stipulate a legal obligation to obtain specific information about our customers.
Contact and identification data, payment information, product/service information, financial information, information about how to communicate with Qred, unit information, information from external sanctions lists and PEP lists, and service-specific personal data	Perform a credit assessment and meet the requirements for sufficient customer due diligence.	Perform our contractual obligations to you when we are in a process of entering into a contract or have entered into an agreement with you. We must therefore obtain relevant information in order to fulfil the contractual commitment. We also have legal obligations in the form of laws and regulations that stipulate a legal obligation to obtain specific information about our customers
Contact and identification data, payment information, product/service information, financial information, information about how to communicate with Qred, device information, and service-specific personal data.	To administer the service.	Perform our contractual obligations to you when we are in a process of entering into a contract or have entered into an agreement with you. We must therefore obtain relevant information in order to fulfil the contractual commitment. We also have legal obligations in the form of laws and regulations that stipulate a legal obligation to obtain specific information about our customers
Contact and identification data, payment information, product/service information, financial information, information about how to communicate with Qred.	To prevent fraud and manage risks.	Fulfilling legal obligations and other legitimate interests We have legal obligations in the form of laws and regulations that stipulate a legal obligation to obtain specific information about our customers - for example, with the support of Money Laundering ActWe also have a legitimate interest in preventing fraud and therefore believe that our interests are necessary to fulfil these interests and that our interests outweigh your right not to have your data processed for these purposes.
Contact and identification information, payment information, product/service information, financial and financial history, information about how you interact with Qred, device information, information from external sanctions lists and PEP lists, and service-specific personal data.	To comply with applicable legislation, such as the Money Laundering Act and the Accounting Act.	We have legal obligations in the form of laws and regulations that stipulate a legal obligation to obtain specific information about our customers - for example, under the Money Laundering Act and the Accounting Act.
Contact and identification data, payment information and history information on products/services; financial information, information about how you communicate and interact with Us, and device information.	To improve our services, for example by improving credit risk models and minimise fraud risks.	Other legitimate interests. Qred has legitimate interests in managing risks to Qred's business, in particular risks associated with fraud. We ensure that the processing this entails is necessary to fulfill these interests, and that our interests outweigh your right not to have your data processed for these purposes.
Contact and identification information, payment information, Qred services information, customer financial information, information about how you interact with Qred, information about how you interact on Qred's device information platform, information from external sanction lists and PEP lists, and service-specific personal data.	For internal purposes, such as data analysis, testing and statistics.	Other legitimate interests. We have a legitimate interest in performing data analysis, testing and keep statistics on product development. We ensure that the processing of personal data is necessary to fulfil the purpose, and that our interest outweighs your right not to process your personal data.
Contact and identification information, payment information, Qred services information, customer financial information, information about how you interact with Qred, information about how you interact on Qred's platform - device information.	Provide marketing and offers to you regarding our services. You can always unsubscribe from this by contacting us, see below for contact details.	Qred has a legitimate interest in providing you with marketing and offers about our Services. We ensure that the processing this entails is necessary to pursue that interest, and that our interest outweighs your right not to have your data processed for this purpose.
Contact and identification data, payment information, product/service information, financial information, information about how you interact with Qred, device information, information from external sanctions lists and PEP lists and service-specific personal data.	Perform data analysis for product development and testing (for example, to improve our risk and credit models).	Qred has a legitimate interest in conducting data analysis for product development and testing. We ensure that the processing this entails is necessary to pursue this interest, and that our interest outweighs your right not to have your data processed for this purpose.

Recorded telephone conversations.	Improve our Services, internal training and quality review, and to compile what has been discussed and decided between you and Qred's customer team.	Qred has a legitimate interest in improving our Services by reviewing the quality of our Services, and compiling what has been discussed and determined between you and Qred's customer team. We ensure that the processing this entails is necessary to pursue that interest, and that our interest outweighs your right not to have your data processed for this purpose. As a payment institution, Qred has a legal obligation to document personal data necessary to perform these types of services.
Contact and identification information, financial information, financial history and information about how you interact with Qred.	Perform credit assessment before granting credit	Perform our contractual obligations to you when we are in a process of entering into a contract or have entered into an agreement with you. We must therefore obtain relevant information in order to fulfil the contractual commitment.
Contact and identification data, information on products/services; information about interacting with Qred	Conduct customer satisfaction surveys - via email, sms, phone or through other communication..	Qred has a legitimate interest in being able to carry out customer satisfaction surveys. We ensure that the processing this entails is necessary to pursue that interest, and that our interest outweighs your right not to have your data processed for this purpose.
Contact and identification data, financial information (if we have this available) and information about how you interact with Qred.	Investigate which communication channel is most suitable to get in touch with you about outstanding debt.	Qred has a legitimate interest in being able to contact you effectively. We ensure that the processing this entails is necessary to pursue that interest, and that our interest outweighs your right not to have your data processed for this purpose.
Contact and identification information, information about products/services, information about how you interact with Qred information about how to integrate with us, device information and service-specific personal data.	Decide what marketing we will provide you. This processing will cease if you unsubscribe from receiving marketing. The processing may constitute profiling (see further in the profiling section below).	Qred has a legitimate interest in determining what marketing we will provide you. We ensure that the processing this entails is necessary to pursue that interest, and that our interest outweighs your right not to have your data processed for this purpose.
Contact and identification information, payment information, product/service information, financial and financial history, information about how you interact with Qred, device information, information from external sanctions lists and PEP lists, and service-specific personal data.	Protect Qred from legal claims and take advantage Qred's legal rights.	Qred has a legitimate interest in protecting Qred from legal claims and taking advantage of Qred's legal rights. We ensure that the processing this entails is necessary to pursue this interest, and that our interest outweighs your right not to have your data processed for this purpose.

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3. Qred's services involving the provision of credit

Services that include a credit handing over to you:

Qred loans - Business loans
Qred VISA - Corporate card with credit
Qred Factoring - factoring business (purchase of invoices)

Your personal data is shared with credit reporting services and other similar providers for the purpose of making a proper credit assessment when you apply for a business loan (Qred loan) or Factoring service with us.

In order to provide these services, we make a credit assessment of you. The credit assessment is based on contact and identification data, information about how you interact with Qred and financial information. Financial information includes external information collected from credit reference agencies, such as income and payment notes.

The credit assessment is based on contact- and identification information and information on how you interact with Qred. This includes how you interact and communicate with us but also financial information that you provide us, for instance transactional records, bank account statements and external information from credit assessment companies.

4. Marketing and communication

We can come to use your contact information in order to communicate with you. We can do this either by performing customer surveys or to send out offers regarding our products/services based on our relationship with you. If you choose to not receive such communication/information, you can at any time contact us at privacy@qred.com.

In order to provide you with offers and benefits such as 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. This may involve profiling (See Section 7 for further information). The information is the basis for Qred's market and customer analysis and the production of statistics.

We apply individual offers, where we use contact and identification information, information about payment patterns, and interaction with us in order to offer better services and benefits. We may use this information to communicate personal offers via physical mailings, SMS, e-mail, 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 cases where Qred processes your personal data based on your consent or explicit consent (for example, when you give us a power of attorney for a third person to access your data, provide us with additional information indicating that you are a vulnerable customer, or upload specific categories of personal data into our Services); you can withdraw this consent at any time, either by contacting us. Withdrawing your consent will not lead to any deterioration in our Services, as we do not need this information to provide the Services.

6. Profiling and automated decision-making

"Profiling" means the automatic processing of personal data to assess certain personal characteristics of you as a customer, for example to analyze or predict your financial situation or personal preferences, e.g . Which products you choose and your interaction with Qred. We use profiling based on your personal data to make individual or automated decisions regarding you for the following purposes:

Predict which marketing might be of interest to you. You can always object to this and unsubscribe from the marketing and this profiling, by contacting us. For more information about our processing of personal data to provide marketing, see Section 4 above;
Decide which offers might suit you;
To determine which way is best to communicate with the customer and to get in touch with the customer regarding outstanding debts.

In addition to this, some of our Services include profiling in order to provide the Service in question, for example to deliver financial insights to you, or to choose which offers we will give you, in accordance with the terms of the Service.

Decisions with legal consequences or decisions that similarly significantly affect you

Automated decisions with legal consequences or automated decisions that similarly significantly affect you mean that certain decisions in our Services are made exclusively automatically, without the involvement of our employees, and may have a significant effect on you as a customer, comparable to legal consequences. By making such decisions automatically, objectivity and transparency in decisions increase when we offer these products or services.

We use this type of automated decision making when we:

Decides to approve your application to use a product/service that includes credit;
Decides not to approve your application to use a product/service that includes credit;
Determines whether you pose a fraud or money laundering risk, if our processing shows that your behavior indicates money laundering or fraudulent behavior, that your behavior is not consistent with previous use of our Services, or that you have tried to conceal your true identity. Where relevant, Qred also investigates whether specific customers are listed on sanctions lists.

You always have the right to challenge an automated decision which carries a legal or similarly significant effect (together with the profiling connected to it), by contacting us using the email address privacy@qred.com. A Qred employee from the customer team will then look at your case.

7. Parties may we share your personal data with

Suppliers and subcontractors. We may share personal data with the suppliers and subcontractors we use to provide our Services to you. Examples of suppliers and subcontractors are software providers and business consultants. They only have the right to process personal data on our behalf. We may also share personal data with other financial providers to us. We take all reasonable, legal, technical and organisational measures to ensure that personal data is processed and shared securely.

Credit reference agencies. Your personal data is shared with credit reporting services and other similar providers in order to make a proper credit assessment when you apply for a corporate loan with us.

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

Debt collection companies. Qred may also share your information when we sell, or instruct to recover, unpaid debts to a third party, such as debt collection companies. We make this sharing of information based on our legitimate interest in recovering and selling debts. Debt collection companies may process your data in accordance with their own data protection information, or solely on behalf of Qred. Debt collection companies may also report your unpaid debts to credit reference agencies or the Enforcement Authority, which may affect your creditworthiness and the ability to apply for future credits.

Divestment. In the event that Qred sells or purchases business or assets, we may provide personal data to such potential buyer or seller.

If Qred or a substantial part of the Company's assets is acquired by third parties, your personal data may be shared with such third parties.

Social Media. In those cases 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 towards processing all personal data within the EU/EES. In some cases the information may be transferred to, and be 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 way. We ensure that an adequate level of protection is maintained, and that suitable safeguards are adopted in line with applicable regulation.

9. How long do we process your personal data?

We save your data for as long as it is necessary to fulfill our agreement with you, and as long as we are required to keep the data by law. We retain the data only for as long as it is necessary for the stated purpose of the processing.

10. Your right to access, correction and erasure.

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

Right to access personal data. You can request information about what personal data we process about you. The information is free of charge.

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

Right to erasure ("right to be forgotten"). You have the right to request that your data be deleted, provided that the data is no longer necessary for the purpose

processed for. However, Qred always has a legal obligation to comply that prevents us from deleting your data at the moment. In that case, the data is not processed for any purpose other than to fulfil the legal obligation.

Right to object to our treatment. If you believe that your personal data is incorrect or processed in violation of applicable law, you have the right to ask us to object to our processing of your personal data. You may also object to our processing when you believe that there are grounds for the processing not being carried out in accordance with laws and regulations. Furthermore, you can always object to us using your information for marketing purposes.

10.1 The Swedish Data Protection Authority is the supervisory authority.

The Swedish Data Protection Authority is responsible for monitoring the application of the legislation. Anyone who believes that a company handles personal data incorrectly can file a complaint with the Swedish Data Protection Authority.

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 obtain statistical information about how our website is used and how it works, so we can work on improving it.

To provide a tailored experience, Qred uses cookies and similar tracking technology in our various interfaces, such as our website. You can find information about the tracking technology that Qred uses, and information about how to accept or reject the tracking technology, in the respective interface.

For more information about how we use cookies, please see our cookie policy.

12. Contact us

Qred Bank AB is registered with Bolagsverket with organization number 559008-9800. The head office is located at Drottninggatan 98, 111 60 Stockholm. If you have any questions about this privacy policy or how we use your personal data, please contact us at privacy@qred.com.

You are always welcome to contact us with questions regarding data protection and personal data at privacy@qred.com. Please see our website qred.se for further information about us.

13. Other

Change to our privacy policy. Qred may make changes to this Privacy Policy from time to time. Changes are announced via updates on our website.