As a Lunar customer, it’s probably not unfamiliar to you to live online and manage your daily life through apps and browsers. You've also cursed at one of the many cookie banners necessary to close before you could see what you wanted. But why are they there, and what is all this personal data, privacy protection, and GDPR?
What is it?
GDPR is a set of pan-European regulations that took effect in May 2018 (after which the number of cookie banners and informational emails exploded).
The purpose of these rules is to protect the individual (you) and to give control over your information back to you. Therefore, companies that use information about you are required to explain the following:
What they do, with which data
Why they do it
How long they expect to do it
In other words, there are significant requirements for responsibility for those who want to process or use your information. For example, there must be clear management of which information is used, for what purposes, with what legal basis, and who may have access to the information.
The latter ensures that unauthorized persons – even within Lunar – do not have access to information about you. For example, someone in our internal HR should not know how much you spent at a café last week.
It is also a matter of us having a complete overview of which system providers have access to which information.
Why we need to request data from you
We want to make it easy for you to be in control of your money. To achieve this, we need to know more about you and, therefore, continuously collect a range of different information about you. This includes your transactions, how you use the app, the various offers it contains, and any communication we have with you.
All of this is to provide the best service as your bank, to develop the app, to offer you the best deals, including through exciting collaborations with others, and to give you the ability to manage your finances with a swipe in the app. It is also necessary for us to comply with the very strict regulations that must be adhered to when being a bank.
That was a very brief explanation of what GDPR is and how we use information about you at Lunar. You can find a more comprehensive and detailed explanation of all this in our privacy policy, including your rights as a registered individual, RIGHT HERE.