YouLend ApS ("YouLend") and/or its affiliates ("we", "our" or "us") would like to inform you (the "Client") that your privacy on the internet is of crucial importance to us. The success of our business depends on our ability to maintain the trust of our Clients. During the course of our business, we gather information about our Clients, and we would like to inform our Clients about the type of information we gather, what we do with it and how our Clients can correct or modify the information our Clients entrust us with.
The processing of personal data is subject to the requirements of the Danish Act on Personal Data (in Danish: Lov om behandling af personoplysninger). Starting from 25th May 2018, the processing of personal data shall be governed by the General Data Protection Regulation.
Personal data collected by YouLend
Personal data means any information relating to an identified or identifiable natural person ("Personal Data"). An identifiable natural person is a person who can be identified, directly or indirectly, by reference to the Personal Data (the "Data Subject").
YouLend is responsible for all Personal Data collected. As the controller of Personal Data, YouLend determines the purpose and means for usage of Personal Data.
The purpose(s) of YouLend’s processing of Personal Data relate(s) to the following:
Client identification, monitoring and reporting in accordance with the Danish Anti-money Laundering Act (in Danish: Lov om forebyggende foranstaltninger mod hvidvask og finansiering af terrorisme (hvidvaskloven))
Authentification of Clients on the YouLend platform
Credit assessment of Clients applying for financing through YouLend
Transaction information collected in accordance with applicable law, including EU Regulation on information accompanying transfers of funds
User experience, website optimisation and communication with Clients
In addition, YouLend collects Personal Data during the loan application process as well as during monitoring of transactions relating to the sender and receiver of a transactions. These undertakings are carried out in accordance with YouLend’s obligations under the Danish Anti-money Laundering Act.
YouLend collects Personal Data relating to YouLend’s Clients to ensure that YouLend meets its requirements under the Danish Anti-money Laundering Act. Such information may include names, dates of birth, social security numbers, tax identification numbers and identification documents on beneficial owners of companies, authorised signatories, officers, directors and other relevant personnel. These pieces of information are mandatory information since they are collected and processed in order to comply with applicable laws and regulations.
YouLend may also collect Personal Data from third parties to verify the identity and information received by the Client as well as to deter, detect, and prevent fraud and illegal activities and conduct a credit assessment in connection with a Client’s application for financing through YouLend. This collection of Personal Data can include a credit reference agency search on the named Client and applicant, including but not limited to directors, beneficial owners and officers, their financial associates and businesses. For the avoidance of doubt, the authorisation to YouLend includes an authorisation to conduct credit reference agency searches on all directors, beneficial owners and officers involved with the named Client as well as any guarantors. A record of these searches will be recorded against all applicants and may be seen by other companies if they carry out a credit enquiry. Thus, these credit reference agency searches might affect the business’ and applicants’ credit score;
Communication with YouLend’s Clients is stored for the purpose of providing and managing the services provided by YouLend. Said information is deemed Personal Data if it relates to an identifiable person. This information includes e-mails, Instructions, faxes, or telephone calls directed to YouLend.
How YouLend use, disclose and process Personal Data
As listed above, YouLend processes Personal Data regarding the Data Subjects in order to provide and manage the services provided by YouLend, which includes provisioning of financing and credit assessment, instructions, transactions, client service, website optimisation etc. YouLend also processes information with the purpose to detect and prevent fraud and violations of YouLend’s legal agreements and to fulfil technical, financial, tax, compliance, administrative functions.
Further, YouLend may disclose Personal Data to third parties in and outside Denmark where such disclosure/processing is for hosting and storing, compliance purposes, fraud prevention, credit assessment or made to enabling the transfer of funds on behalf of or initiated by the Data Subject or the Client. Disclosure of Personal Data may also be made to perform other parts of its services and managing the client relationship, including, but not limited to public authorities and/or cooperation partners such as correspondent banks and service providers.
The Client authorises YouLend to transfer information to any legal entity within the YouLend group as well as to any reputable third party in connection with the performance of a credit assessment of the Client and any officers, directors and beneficial owners related to the said Client as well as any guarantors.
When YouLend is required or permitted to disclose information, YouLend will only disclose Personal Data which is necessary to fulfil the purpose.
Storing and the right to access Personal Data
The Personal Data will be stored no longer than necessary to carry out the specific purpose for which the Personal Data was collected. Under the Danish Anti-money Laundering Act, YouLend is required to store transaction data and data on the Client for at least five (5) years from the time of termination of the relationship with the Client.
Any Data Subject has the right to request correction, supplementation, deletion, or blocking of such personal information if inaccurate, incomplete, or irrelevant for the purposes of the processing or if processed in any other way that is unlawful by contacting YouLend by e-mail to firstname.lastname@example.org.
YouLend is restricted from disclosing Personal Data to the Data Subject which is required to be kept confidential under applicable law, including the Danish Anti-money Laundering Act.
YouLend is committed to handling Personal Data with high standards of information security.
YouLend uses computer safeguards such as firewalls and SSL software encryption for many of the services to protect personal information provided to YouLend. YouLend enforces physical access controls to their buildings and files, and YouLend authorises access to personal information only for those employees who require it to fulfil their job responsibilities.
Non-personal information collected by YouLend
YouLend collects non-personal information, which is not related to an identifiable person, in order to provide and manage its services.
Authentication: In connection with usage of YouLend’s platform, information is collected to verify the identity of the Client to allow for the use of services, including certification and passwords. YouLend also collects the IP address and other identifying information about the computer or device the Client uses to access the accounts, in order to help detect possible instances of unauthorised transactions.
Client identification: YouLend collects information on the Clients for the purpose of facilitating services, identifying the client and to understand the industries of clients which relate to requirements under the Danish Anti-money Laundering Act.
Client correspondence information: Information regarding the Client’s correspondence with YouLend will be collected. This information includes emails, instructions, faxes, or telephone calls directed to YouLend.
How YouLend use, disclose and process non-personal information collected by YouLend
YouLend processes non-personal information regarding the Client in order to provide and manage the services, which includes credit assessment, instructions, transactions, client service, website optimisation etc. YouLend also processes information with the purpose to detect and prevent fraud and violations of YouLend’s legal agreements and to fulfil technical, financial, tax, compliance, administrative functions.
YouLend will not sell, transfer, lease or lend any non-personal information regarding the Client to third parties for their marketing purposes without the Client’s consent. However, in order for YouLend to offer its services; enhance the quality of its services from time to time; and protect the interests of the Clients, YouLend will in limited circumstances share some of the Client’s information with third parties.
YouLend will from time to time disclose and process any non-personal information about the Client as may be required by law, regulation, including any applicable tax regulation or market rules, or a legislative or supervisory authority or another person who is entitled by law to demand such disclosure, without prior notice to the Client.
YouLend may also disclose and have processed any non-personal information about the Client to third parties in and outside Denmark where such disclosure/processing is for administrative or compliance purposes or fraud prevention or made with a view to enabling the transfer of funds initiated by the Client or performing other parts of its services and managing the client relationship, including, but not limited to public authorities and/or cooperation partners such as credit rating agencies, banks and service providers.
The Client authorises YouLend to transfer any non-personal information to any legal entity within the YouLend group or companies performing services for group companies in and outside Denmark in relation to business, development, compliance, general advisory and statistical purposes. Disclosure of non-personal information will be made in full compliance with any applicable disclosure restrictions.
Storing of non-personal information
The collected non-personal information will be stored no longer than necessary to carry out the identified purposes and as reasonably required for business purposes or as reasonably required to comply with any legal obligations, including storage for at least five (5) years from the time of termination of the client relationship.
Securing non-personal information
YouLend is committed to handle all information with high standards of information security.
YouLend uses computer safeguards such as firewalls and data encryption for many of the services. YouLend enforces physical access controls to YouLend’s buildings and files, and we authorise access to personal information only for those employees who require it to fulfil their employment responsibilities.
The security of the Client’s accounts relies on the Client’s protection of the Client’s YouLend password, etc. The Client may not share the YouLend password with anyone. YouLend’s representatives will never ask for a Client’s password, so any e-mail or other communication requesting the Client’s password should be treated as unauthorised and suspicious and forwarded to email@example.com.