Balancing our interest against your privacy
When Bisnode uses legitimate interest as the legal ground for our data processing, we always secure this by performing a balancing assessment, that verifies and balances our interest to process the data versus the individual’s right to privacy.
In general terms, this is what the balancing assessment consist of:
- A description of Bisnode’s legitimate interest and an evaluation if the data processing is necessary and proportional for the purpose we have.
- The impact on the individuals and if they reasonable expect what will happen to their data, as well as how sensitive data is, how much data is used and how it is processed;
- Additional safeguards we have put in place which could limit the impact on the individuals, such a data minimization, privacy enhancing technologies; increased transparency, the right to opt-out, and data portability.
The record of the balancing assessment is saved, so that we can demonstrate the considerations we have made. When doing the balancing assessment, we require that all requirements for the individuals’ rights are fulfilled. We also undertake technical and organizational measures to secure the individuals data.
Bisnode’s legitimate interest in Credit
Bisnode keeps full registers of credit data to provide services for our customers to verify the credit status of an individual or business to help them manage their financial risks, such as minimizing the risk that credits are given to insolvent individuals.
Credit information has a vital function in society. It allows companies to verify the ability to pay for merchandise ordered, for a bank to verify that a customer can pay for a house mortgage among many other things. In particular for contracts via internet, online shopping, and more, Bisnode’s job of calculating and providing credit information as well as receiving and using credit information (our customers’ purpose) can be seen nowadays nearly as a given and mandatory while executing those online contracts.
Receiving credit information about a current or potential customer helps a company to secure its business by minimizing credit risks. Most companies will not grant a loan or credit if they cannot check the data subjects’ solvency.
In the markets where applicable Bisnode has a permit to handle credit information and follow credit information acts and other additional applicable laws.
By providing such service, Bisnode also enables the following general interests in society:
- keeping down the debt on consumers - prevent over indebtedness
- credit information is a vital enabler of the EU economy
- it is important for the economy that creditors can protect themselves against credit losses and for the credit applicants to obtain the requested credit
- from governmental perspective, important with provisions and rules for loss in the markets business and consumers
- important that the credit market and e-commerce is not restricted just because of the difficulties in assessing credit risks
The expectation varies through Bisnode markets, in many a data subject will expect to be found in a credit register. The handling of credit registers is different in various regions; private credit information countries are common in most markets but in some this is currently only handled by governmental agencies or banks. In the latter case Bisnode normally does not have any credit information business.
Bisnode’s legitimate interest in Direct marketing
Bisnode’s services within Direct marketing are to make sure our customers have enough information to target the right customers with the right message, with data that is up to date. Bisnode provides services to update the customers’ data.
Direct marketing is essential to most companies to spread the message about their products.
Bisnode's services to our customers within direct marketing ensures that the data used by our customers is up to date and with enough information to target the right customers, with the right message. For this reason, large databases of the population of people or B2B information are kept by information providers like Bisnode.
The Bisnode customers need is to be able to find and correctly target individuals with product offers. There is also a need to know more about the individuals than just the contact details in order to personalize offers, target them at the right time (when they are most likely interested in the offer) and through the right channels. For that reason, more information like for example lifestyle variables built on statistics is normally required.
Bisnode’s legitimate interest in Profiling for marketing purposes
Bisnode’s services within profiling for marketing aims at supporting our customers to better target customers and potential customers. Profiling within Bisnode is normally done based on statistics and not identifiable information about the individual.
Profiling is defined as any form of processing intended to evaluate certain personal aspects of an individual, in particular to analyze or predict personal preferences, reliability, behaviour, location or movements.
Bisnode's services within profiling for marketing aims at supporting our customers to better target customers and potential customers. Our customers uses profiling normally for knowing their customer better and to better target new customers. Customer knowledge will lead to more correctly targeted marketing, avoiding irrelevant information to reach the individual. Targeted marketing many times gives a higher return on the money spent as untargeted marketing. Adding the right profiling variables to a customer list will help achieve this.
In some of Bisnode's marketing offers, additional variables of statistical nature is also added to the view of an individual. This could be lifestyle, family situation, likelihood of having a car etc. This information is used to even better target the individuals with the right offerings. It may also lead to a person being excluded from getting an offer or lower price for example or being presented with a less relevant offer (since variables are statistical and not actual for the individual).
Bisnode’s legitimate interest in Verification and control
Bisnode’s services within data and validation aims at securing the legal requirement so that our customer's data is up to date. For this reason, large databases of the population of people or B2B information are kept by information providers, where Bisnode is one. Bisnode provides services to update the customers’ data.
The Bisnode customer need of verification and control services is mainly based on the requirement to keep data up to date but also for appending additional information. The additional information is normally used to know the end customer better. With better knowledge, targeted marketing can be done more correctly, avoiding irrelevant information to reach the individual. Our customers also need to verify that for example a new customer exists, to avoid fraud cases.