Terms and Conditions

These terms and conditions (the ”Terms ”) governs your access to and/or use of the Service (as defined below) that Kreditz AB (reg. no. 559148-2400), as well as its subsidiaries and affiliates (“Kreditz”, “we”, “us” or “our”) provides to you. Kreditz is a limited liability company established in Sweden with its registered office at Vendevägen 87, 18232 Danderyd, Sweden. These Terms and Kreditz’ Privacy policy and any additional terms that you agree to, constitute an agreement and the entire agreement between you, i.e. the user of the Service (the “user” or “you”) and Kreditz (together the (“Agreement”). Please read the following information carefully before using the Service.

1. Acceptance of the Terms and changes

1.1 By accessing or using the Service, you acknowledge that you have read, understood, and agree to these Terms. If you do not agree with the Terms, do not use the Service.
1.2 Kreditz reserves the right to modify these Terms at any time, in its sole discretion. Where we deem such changes to have a material adverse effect on you, we will notify you in advance of any changes at least one (1) month before such changes enter into force, by email or by posting of the updated Terms on our website. Your continued use of the Service after any changes of the Terms has entered into force will be deemed as an acceptance of the updated Terms. The updated Terms will apply going forward and not with retroactive effect. If you do not accept the changes to the Agreement you may, no later than the entry-into- force of the relevant changes, terminate the Agreement free of charge and with immediate effect.

2. The Service

2.1 Kreditz’ service enables you as a consumer to connect to your bank account(s) and receive a real-time financial score and credit profile based on your transaction history according to your bank account(s). You as a consumer can, when using the service, decide to share your financial score and transaction history safely to other users and third parties such as banks, credit institutions and others in connection with requests to do so for instance before entering into transactions with you or providing you with services online, such as loan and credit applications, account confirmations for payouts and KYC (Know Your Customer) processes (the “Service ”)
2.2 You access the Service via your own internet bank(s) or similar. With your prior explicit permission, we will extract the relevant personal and financial data from your internet bank(s) as necessary for us to provide the Service. This may include your name, national identification number, account number, contact details, monthly cash flow (salary and expenses), payers and payment recipients, overdrafts, loans and other transactions. The data is compiled into a real-time financial score, which you can share to other users and submit to the third party with which you have agreed to share your data via the Service. As part of such report, we may highlight and emphasize certain of the information described above that we consider important for the purpose of assessing your identity and financial status and capability. This may include, without limitation, your account balance on various dates, salary and other income, number of credits and loans, monthly savings, housing costs, investments and similar. To provide an as accurate view report as possible of your financial status and capability, we collect information from all your payment accounts (i.e. typically your salary account and accounts that are used to make transactions, such as credit card accounts) as well as information from other accounts such as savings accounts, loans, mortgages, and investment accounts available via your internet bank(s).
2.3 The execution of the main elements of the Service (i.e. collection, structuring and delivery of your information) will not take more than a few seconds to a few minutes per occasion that you use the Service. After such period of time, Kreditz no longer has access to your internet bank(s). Except for providing access to the Account Information (as defined in our Privacy Policy), you don’t need to provide Kreditz with any information to use the Service.

3. User’s obligations

3.1 As a user of the Service, you warrant and agree to comply with the following:
A.You will use the Service only for purposes that are permitted by and in accordance with:
(i) the Terms; and
(ii) any applicable law, regulation or generally accepted practices or guidelines in the relevant jurisdictions.
B. You are the rightful holder of the specified bank account(s) and have the right to make available relevant information from your internet bank(s) to us and share it with relevant third parties, including information on accounts you may hold together with someone else.
C. You have the sole responsibility for protecting the confidentiality of your personal security information, such as your internet bank(s) log in credentials.
D. You are at least 18 years of age and have legal capacity to enter into these Terms.
E. Any use of the Service by any other person, or third parties, is strictly prohibited. You agree to immediately notify Kreditz of any unauthorized use or any breach of security of which you have become aware.
F. You will not use the Service for any illegal and/or unauthorized use.
G. You acknowledge and agree that any automated use of the Service is prohibited.
H. You will provide true, accurate, current and complete information, including information on all transactions and payment recipients, for the specified bank account(s) and time period, as extracted from your account statement with your internet bank(s) or similar, and will not fraudulently withhold or modify such information.
I. You will not decompile, reverse engineer, modify or disassemble any of the software aspect of the Service except and only to the extent permitted by applicable law.
3.2 If you do not comply with this Section 3 you are not entitled to use the Service. In case you use the Service in breach of this Section 3 or if the use may cause damage to Kreditz or a third party, Kreditz is entitled to immediately suspend access or terminate the Agreement by notifying you thereof in writing.

4. Communication and technical requirements

4.1 You agree that all communication with Kreditz in relation to the Service shall be conducted online and by e-mail and that the Agreement will be concluded in the English language. Kreditz’ primary language for communication with you is English. However, upon your request and where available, you will get any such communication in the official language of your country of residence.
4.2 To use the Service, you need to have access to a smartphone with an internet connection and the ability to download apps from the App Store or Google Play.
4.3 Failure to comply with these criteria may result in extra sessions due to lack of quality in the technical performance of the Service. Kreditz is not responsible for any faults in the Service arising due to you not having the necessary equipment, hardware or software and/or internet capacity. Kreditz reserves the right to change the technical requirements from time to time.

5. Privacy and personal data

5.1 As part of providing the Service to you, we need to collect and use certain personal data about you. Our privacy practices can be found here Privacy Policy

6. Limitation of liability

6.1 Unless otherwise stated in applicable law that Kreditz may be subject to, you understand and agree that Kreditz, its affiliates, employees, agents, contributors, other users and licensors shall not be liable to you for any direct, indirect, incidental, special consequential or exemplary damages which may be incurred by you, however caused and under any theory of liability. This shall include, but is not limited to, any loss of profit (whether incurred directly or indirectly), any loss of goodwill or business reputation and any other intangible loss.
6.3 In no event, unless otherwise follows from mandatory laws, shall Kreditz’ total liability arising out of or in connection with the Service or these Terms, however arising, including under contract, tort, under statute or otherwise, exceed USD 100.

7. Disclaimer of warranties

7.1 Although Kreditz’ intention is to provide the best possible service, Kreditz cannot guarantee the availability of the Service or the reliability or accuracy of the information that is presented through the Service. Kreditz cannot be held accountable if the Service is not available or if any information or functionality does not work as expected.
7.2 Kreditz makes no warranty that (i) the Service will meet your requirements, (ii) the Service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the Service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the Service will meet your expectations, (v) any errors in the technology will be corrected, or (vi) that any third party making decisions based on information about you received via the Service will be accurate, in your favour or otherwise meet your expectations.
7.3 Your use of the Service is at your sole risk. The Service is provided on an “as is” and “as available” basis. Kreditz expressly disclaim all warranties of any kind as to the service and all information included in or accessible from the Service, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement of third party rights.

8. Indemnification

You agree to protect and fully compensate Kreditz and their affiliates from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable attorney’s fees) caused by or arising from your use of the Service, your violation of these Terms or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

9. Intellectual property

9.1 Kreditz, Kreditz’ suppliers and/or its licensors holds all rights, including intellectual property rights (including but not limited to trademarks, copyright, designs inventions, patent and source code and functions in the Service), in the Service. These Terms does not transfer any intellectual property from Kreditz to you, and all right, title and interest in and to such property will remain solely with Kreditz. Kreditz AB, kreditz.com, the logo, and all other trademarks, service marks, graphics and logos used in connection with the Service are trademarks or registered trademarks of Kreditz.
9.2 Your use of the Service grants you no right or license to reproduce or otherwise use any Kreditz or third-party trademarks.

10. Force majeure

You expressly release Kreditz from any delay or failure of performance if and to the extent caused by circumstances that are not reasonably foreseeable or otherwise caused by or under the control of the party claiming force majeure, including acts of God, fires, floods, explosions, riots, wars, hurricane, sabotage, terrorism, vandalism, accident, restraint of government, governmental acts, injunctions, labor strikes, and other like events, despite such party’s reasonable efforts to prevent, avoid, delay or mitigate the effects of such acts, events or occurrences, and which events are not attributable to the party’s failure to perform its obligations under these Terms.

11. Miscellaneous

11.1 If for any reason a court of competent jurisdiction finds any provision of these Terms, or any portion thereof, to be unenforceable, that provision will be enforced to the maximum extent permissible and the remainder of these Terms will continue in full force and effect.
11.2 For questions regarding these Terms or the Service, please contact us by e- mail at legal@kreditz.com. Please do not include personal or financial account information when contacting us by e-mail.

12. Term and termination

This Agreement enters into force when you accept these Terms and remains in force until terminated by either party. You may terminate the Agreement free of charge at any time by deleting your account in the Service or by written notice by sending an email at info@kreditz.com. Subject to any other right of termination described in these Terms, Kreditz will give you one (1) month prior written notice of termination should Kreditz wish to terminate the Agreement.

13. Complaints

13.1 We are committed to ensure that you receive a high-quality service from us. In the event that you are dissatisfied with our Service or believe an error has occurred when using the Service, please contact us as soon as possible. For full details of our complaints procedure, or to submit a complaint, you can contact us at privacy@kreditz.com.
13.2 We will handle your complaint promptly and aim to resolve any complaint within 30 days from the date we received the complaint. If we due to special reasons are unable to provide you with a response within 30 business days, we will notify you of such reasons and may extend our response period to up to 60 days. If you do not receive our final response or you are unhappy with our final response, you can, if you are located in Sweden, contact Allmänna reklamationsnämnden to file a complaint at Box 174, 101 23 Stockholm, e-mail arn@arn.se . You should do so within 6 months from the date of our final response. If you are resident outside Sweden, you may also have the right to refer your complaint to the local ombudsman in your country and follow the local out of court and redress procedures to register your complaint. Further information for EU-residents can be found on the website of the European consumer financial complaints network at https://ec.europa.eu.

14. Governing law and dispute resolution

The Terms and the relationship between you and Kreditz shall be governed by and construed in accordance with the laws of Sweden, without giving effect to conflict of law principles, subject to any mandatory provisions under the laws of your country of residence. In the event that the application of Swedish law would be
contrary to national law in the country where you are domiciled such national law shall apply, to the minimum extent possible, to the Terms. The courts of Sweden or the courts of your country of residence, at your choice, shall have jurisdiction over any dispute, controversy or claim arising out of or in connection with the Terms or the relationship between you and Kreditz.