Data Privacy

INTRODUCTION

Data privacy policy is set to provide guidance to Monite GMBH existing and future partners, website visitors and any other inquirers.

Monite GMBH, headquartered in Berlin, Germany (LEI no. 391200CQFRY6J2UUD127), and the United States of America, is a global company.

Last updated 2024 January 19, effective as of 2024 February 12.

DEFINITIONS

In this document Monite GMBH is referred to as ‘we’, ‘us’, ‘our’, ‘the company’. 

The terms to ‘you’, ‘your’ are for all Monite GMBH existing partners, inquirer and/or the visitor of Monite.com website. 

I. SCOPE

This Data Privacy Policy applies to personal information processed by us, including websites, mobile applications, and other online or offline offerings, collectively referred to “Services”.  

The Policy is updated according to material changes and at our sole discretion. We will notify our customers as required by applicable law. You acknowledge that you have read and agreed with current and future updated Data Privacy Policy if you continue to use our product(s), visit our website or interact in online or offline offerings.

II. LEGAL BASIS

Monite is committed to follow the General Data Protection Regulation (“GDPR”) issued by the European Union and adhere to the Federal Data Protection Act (“ BDSG”) issued by the German government. 

GDPR: 

• Consent (Art. 6 Para. 1 S. 1 lit. a. GDPR) – The data subject has their consent to the processing of their data
• Legal obligation (Art. 6 para. 1 sentence 1 lit. c. GDPR) – Processing is necessary to fulfill a legal obligation to which the person responsible is subject.
• Legitimate interests (Art. 6 Para. 1 S. 1 lit. f. GDPR) – Processing is necessary to safeguard the legitimate interests of the controller or a third party, unless the interests or fundamental rights and freedoms of the data subject are infringing on the protection of personal data. Data requirements predominate.

BDSG:

The BDSG contains special regulations on the:

• right to information; 
• the right to deletion; 
• the right to object;
• the processing of special categories of personal data;
• processing for other purposes and transmission and automated decision-making in individual cases, including profiling;
• regulates data processing for the purposes of the employment relationship (Section 26 BDSG), in particular with regard to the establishment, implementation or termination of employment relationships and the consent of employees.

III. RESPONSIBLE PERSONNEL

We have assigned our Senior Compliance Manager, Eglė Dacytė.

Business address:
Monite GmbH
Rheinsbergerstr. 76/77
10115 Berlin
Germany

IV. PERSONAL INFORMATION WE COLLECT

Personal information collection is dependent upon how you, our customer, are interacting with us, our Services, and the requirements of applicable law. We collect directly provided to us by our customers, automatically obtain information when customers are using our Services, and information from other sources such as third-party services, and organizations, as described below.

A. PERSONAL INFORMATION PROVIDED DIRECTLY BY CUSTOMER

• Account Administration. In connection with the administration of your account, we may collect personal information from our customers This personal information may include full name, date of birth, nationality, citizenship, country of residence, occupation, signature, business address, professional details, phone number(s), email address(es), government issued identification documents (such as passport, personal identification card) with photograph, tax number. 
• Financial and Transactional information. We may collect financial information such as your bank account numbers, bank statements, transaction history, trading data, and credit/debit card numbers. We may collect personal information and details associated with your transactions including, but not limited to, information about the transactions you make using the Services, the purpose of the transactions, information on sources of your funds, sender and receiver of funds, and ultimate beneficiary information.
• Communications with Us.  We may collect personal information, such as email address, phone number, or mailing address when you request information about our Services, register for our newsletter, request customer or technical support, or otherwise communicate with us.
• Surveys. We may contact you to participate in surveys. If you decide to participate, we may collect personal information from you in connection with the survey. 
• Interactive Features. We and others who use our Services may collect personal information that you submit or make available through our interactive features (e.g., messaging and chat features, commenting functionalities, forums, blogs, and social media pages). Any information you provide using the public sharing features of the Services will be considered “public,” unless otherwise required by applicable law. 
• Sweepstakes or Contests. We may collect personal information you provide for any sweepstakes or contests that we offer. In some jurisdictions, we are required to publicly share information of sweepstakes and contest winners. 
• Conferences, Trade Shows, and Other Events. We may collect personal information from you when we attend or host conferences, trade shows, and other events. 
• Business Development and Strategic Partnerships. We may collect personal information from you and third parties to assess and pursue potential business opportunities. 
• Job Applications. We may post job openings and opportunities on our Services. If you respond to one of these postings, we may collect your personal information provided in application, Resume, cover letter, and/or any other information provided by the candidate. 

B. PERSONAL INFORMATION COLLECTED AUTOMATICALLY

• Automatic Collection of Personal Information. We may collect certain information automatically when you use our Services, such as your Internet protocol (IP) address, user settings, MAC address, cookie identifiers, mobile carrier, mobile advertising and other unique identifiers, browser or device information, location information (including precise location information and/or approximate location derived from IP address), and Internet service provider. We may also automatically collect information regarding your use of our Services, such as pages that you visit before, during and after using our Services, information about the links you click, the types of content you interact with, the frequency and duration of your activities, and other Information about how you use our Services. 
• Cookie Policy (and Other Technologies). We, as well as third parties that provide content, advertising, or other functionality on our Services, may use cookies, pixel tags, and other technologies (“Technologies”) to automatically collect information through your use of our Services. o Cookies. Cookies are small text files placed in device browsers that store preferences and facilitate and enhance your experience.
  • Pixel Tags/Web Beacons. A pixel tag (also known as a web beacon) is a piece of code embedded in our Services that collects information about engagement on our Services. The use of a pixel tag allows us to record, for example, that a user has visited a particular web page or clicked on a particular advertisement. We may also include web beacons in e-mails to understand whether messages have been opened, acted on, or forwarded. 

Our uses of these Technologies fall into the following general categories: 

• Operationally Necessary. This includes Technologies that allow you access to our Services, applications, and tools that are required to identify irregular website behavior, improve security, or allow you to make use of our functionality; 
• Performance-Related. We may use Technologies to assess the performance of our Services, including as part of our analytic practices to help us understand how individuals use our Services (see Analytics below); 
• Functionality-Related. We may use Technologies that allow us to offer you enhanced functionality when accessing or using our Services. This may include identifying you when you sign into our Services or keeping track of your specific preferences, interests, or past items viewed; 
• Advertising- or Targeting-Related. We may use first party or third-party Technologies to deliver content, including ads relevant to your interests, on our Services or on third-party digital properties. 
• Analytics. We may use Technologies and other third-party tools to process analytics information on our Services. These Technologies allow us to better understand how our digital Services are used and to continually improve and personalize our Services. Some of our analytics partners include:
  • Google Analytics. For more information about how Google uses your personal information (including for its own purposes, e.g., for profiling or linking it to other data), please visit Google Analytics’ Privacy Policy. To learn more about how to opt-out of Google Analytics’ use of your information, please click here.

C. PERSONAL INFORMATION COLLECTED THROUGH OTHER SERVICES

• Third-Party Services and Sources. We may obtain personal information about you from other sources, including through Third-Party Services (defined below) and organizations. For example, if you access our Services through a third-party application, such as an app store, a third-party login service, or a social networking site, we may collect personal information about you from that third-party application that you have made available via your privacy settings. We may also obtain personal information about you from other third-party sources, including information about your transactions, and other information. 
• Referrals and Sharing Features. Our Services may offer various tools and functionalities that allow you to provide personal information about your friends through our referral service. Our referral services may also allow you to forward or share certain content with a friend or colleague, such as an email inviting your friend to use our Services. Please only share with us contact information of people with whom you have a relationship (e.g., relative, friend, neighbor, or coworker).

V. HOW WE PROCESS PERSONAL INFORMATION

We use your personal information for a variety of business purposes, including to provide our Services, for administrative purposes, and to market our products and Services, as described below. 

A. Provide Our Services 

We use your information to fulfill our contract with you and provide you with our Services, such as: 

• Facilitating the Account Payables,Account Receivables and Invoice Reconciliation  Services; 
• Managing your business information;
• Providing access to certain areas, functionalities, and features of our Services;
• Answering requests for customer or technical support;
• Communicating with you about your account, activities on our Services, and policy changes; 
• Processing applications if you apply for a job we post on our Services; 
• Allowing you to register for events. 

B. Administrative Purposes

We use your information for various administrative purposes, such as:

• Pursuing our legitimate interests such as direct marketing, research and development (including marketing research), network and information security, and fraud prevention;
• Detecting security incidents, protecting against malicious, deceptive, fraudulent or illegal activity, and prosecuting those responsible for that activity;
• Measuring interest and engagement in our Services;
• Short-term, transient use, such as contextual customization of ads;
• Improving, upgrading, or enhancing our Services; 
• Developing new products and services;
• Ensuring internal quality control and safety;
• Authenticating and verifying individual identities, including requests to exercise your rights under this Privacy Policy;
• Debugging to identify and repair errors with our Services;
• Auditing relating to interactions, transactions, and other compliance activities;
• Sharing personal information with third parties as needed to provide the Services;
• Enforcing our agreements and policies; and 
• Carrying out activities that are required to comply with our legal obligations.

C. Marketing and Advertising our Products and Services 

We may use personal information to tailor and provide you with content and advertisements. We may provide you with these materials as permitted by applicable law. Some of the ways we may market to you include email campaigns, text messages, custom audiences advertising, and “interest-based” or “personalized advertising,” including through cross-device tracking. IIf you have any questions about our marketing practices, you may contact us at any time using Contact information below.

V. HOW WE DISCLOSE YOUR PERSONAL INFORMATION

We disclose your personal information to third parties for a variety of business purposes, including to provide our Services, to protect us or others, or in the event of a major business transaction such as a merger, sale, or asset transfer, as described below. 

A. DISCLOSURE TO PROVIDE OUR SERVICES

The categories of third parties with whom we may share your personal information are described below.

• Service Providers. We may share your personal information with our third-party service providers and vendors that assist us with the provision of our Services. This includes service providers and vendors that provide us with IT support, hosting, payment processing, identity verification services, customer service, and related services.
• Third-Party Services. Certain features and functionalities of the Services may link to or allow you to interface, interact, or share information with, access and/or use third-party websites, services, products, and technology (collectively, “Third-Party Services”). We do not provide or control any aspect of the Third-Party Services and are not responsible for any compatibility issues, errors or bugs in the Services or Third-Party Services caused in whole or in part by the Third-Party Services or any update or upgrade thereto. We encourage our users to read the privacy policies of each Third-Party Service with which they interact. We do not endorse, screen or approve, and are not responsible for such Third-Party Services. Providing information to or interacting with ThirdParty Services is at your own risk.
• Third-Party Services – Plaid. If you are based in the US, we may use Plaid, Inc. (“Plaid”) to verify your bank account and confirm your bank account balance prior to approving a transaction. Information shared with Plaid is treated by Plaid in accordance with its Privacy Policy, which is available at https://plaid.com/legal/#end-userprivacy-policy.
• Business Partners. We may share your personal information with business partners to provide you with a product or service you have requested. We may also share your personal information with business partners with whom we jointly offer products or services.
• Affiliates. We may share your personal information with our company affiliates.
• Advertising Partners. We may share your personal information with third-party advertising partners. These third-party advertising partners may set Technologies and other tracking tools on our Services to collect information regarding your activities and your device (e.g., your IP address, cookie identifiers, page(s) visited, location, time of day). These advertising partners may use this information (and similar information collected from other services) for purposes of delivering personalized advertisements to you when you visit digital properties within their networks. This practice is commonly referred to as “interest-based advertising” or “personalized advertising.”
• APIs/SDKs. We may use third-party application program interfaces (“APIs”) and software development kits (“SDKs”) as part of the functionality of our Services. For more information about our use of APIs and SDKs, you may contact us at any time using Contact information below.

B. DISCLOSURE TO PROTECT US OR OTHERS

We may access, preserve, and disclose any information we store associated with you to external parties if we, in good faith, believe doing so is required or appropriate to: comply with law enforcement or national security requests and legal process, such as a court order or subpoena; protect your, our, or others’ rights, property, or safety; enforce our policies or contracts; collect amounts owed to us; or assist with an investigation or prosecution of suspected or actual illegal activity.

C. DISCLOSURE IN THE EVENT OF MERGER, SALE OR OTHER ASSET TRANSFER

If we are involved in a merger, acquisition, financing due diligence, reorganization, bankruptcy, receivership, purchase or sale of assets, or transition of service to another provider, your information may be sold or transferred as part of such a transaction, as permitted by law and/or contract.

VI. YOUR PRIVACY CHOICES AND RIGHTS

Your Privacy Choices. The privacy choices you may have about your personal information are determined by applicable law and are described below.

• Email Communications. If you receive an unwanted email from us, you can use the unsubscribe link found at the bottom of the email to opt out of receiving future emails. Note that you will continue to receive transaction-related emails regarding products or Services you have requested. We may also send you certain non-promotional communications regarding us and our Services, and you will not be able to opt out of those communications (e.g., communications regarding our Services or updates to our Terms or this Privacy Policy).
• Text Messages. If you receive an unwanted text message from us, you may opt out of receiving future text messages from us by following the instructions in the text message you have received from us or by otherwise you may contact us at any time using Contact information below.
• Mobile Devices. We may send you push notifications through our mobile application. You may opt out from receiving these push notifications by changing the settings on your mobile device. With your consent, we may also collect precise location-based information via our mobile application. You may opt out of this collection by changing the settings on your mobile device.
• Phone Calls. If you receive an unwanted phone call from us, you may opt out of receiving future phone calls from us by following the instructions which may be available on the call or by otherwise you may contact us at any time using Contact information below.
• “Do Not Track.” Do Not Track (“DNT”) is a privacy preference that users can set in certain web browsers. Please note that we do not respond to or honor DNT signals or similar mechanisms transmitted by web browsers.
• Cookies and Personalized Advertising. You may stop or restrict the placement of Technologies on your device or remove them by adjusting your preferences as your browser or device permits. However, if you adjust your preferences, our Services may not work properly. Please note that cookie-based opt-outs are not effective on mobile applications. However, you may opt-out of personalized advertisements on some mobile applications by following the instructions for Android, iOS, and others. The online advertising industry also provides websites from which you may opt out of receiving targeted ads from data partners and other advertising partners that participate in self-regulatory programs. You can access these and learn more about targeted advertising and consumer choice and privacy by visiting the Network Advertising Initiative, the Digital Advertising Alliance, the European Digital Advertising Alliance, and the Digital Advertising Alliance of Canada. 

Please note you must separately opt out in each browser and on each device. 

Your Privacy Rights. In accordance with applicable law, you may have the right to:

• Access to and Portability of Your Personal Information, including:
  • confirming whether we are processing your personal information;
  • obtaining access to or a copy of your personal information;
  • (where applicable in certain jurisdictions) receiving information regarding public and private entities with which we may have shared your personal data; and 
  • receiving an electronic copy of personal information that you have provided to us, or asking us to send that information to another company in a structured, commonly used, and machine readable format (also known as the “right of data portability”);

• Request Correction of your personal information where it is inaccurate or incomplete. In some cases, we may provide self-service tools that enable you to update your personal information; 
• Request Deletion of your personal information; 
• Request Restriction of or Object to our processing of your personal information; 
• Right to object to an automated decision that significantly affects you; and 
• Withdraw your Consent to our processing of your personal information. Please note that your withdrawal will only take effect for future processing and will not affect the lawfulness of processing before the withdrawal. 

If you would like to exercise any of these rights, please contact us at any time using Contact information below.. We will process such requests in accordance with applicable laws. 

VII. SECURITY OF YOUR INFORMATION

We take steps to ensure that your information is treated securely and in accordance with this Privacy Policy. 

By using our Services or providing personal information to us, you agree that we may communicate with you electronically regarding security, privacy, and administrative issues relating to your use of our Services. If we learn of a security system’s breach, we may attempt to notify you electronically by posting a notice on our Services, by mail, or by sending an email to you.

VIII. INTERNATIONAL DATA TRANSFERS 

All information processed by us may be transferred, processed, and stored anywhere in the world, including, but not limited to, the United States or other countries, which may have data protection laws that are different from the laws where you live. We endeavor to safeguard your information consistent with the requirements of applicable laws. If we transfer personal information which originates in the European Economic Area, Switzerland, and/or the United Kingdom to a country that has not been found to provide an adequate level of protection under applicable data protection laws, one of the safeguards we may use to support such transfer is the EU Standard Contractual Clauses or the UK International Data Transfer Agreement. For more information about the safeguards we use for international transfers of your personal information or the transfers themselves, please you may contact us at any time using Contact information below.

IX. RETENTION OF PERSONAL INFORMATION 

We store the personal information we collect as described in this Privacy Policy for as long as you use our Services, or as necessary to fulfill the purpose(s) for which it was collected, provide our Services, resolve disputes, establish legal defenses, conduct audits, pursue legitimate business purposes, enforce our agreements, and comply with applicable laws. Please note that due to technical restrictions

A. SUPPLEMENTAL NOTICE FOR EUROPEAN ECONOMIC AREA AND THE UNITED KINGDOM

This Supplemental Notice for the European Economic Area and the United Kingdom only applies to our processing of personal information that is subject to the applicable data protection laws of the European Economic Area or the United Kingdom. These are the processing goals, legal processing grounds and retention terms for personal data we collected directly from you:

Category of data	Processing goals	Processing grounds	Retention term
Such as: name, date of birth, age, nationality, country of residence, gender, occupation, signature, utility bills, professional details, photographs, video footage, phone number, home address, email address, government issued identification such as passport, driver’s license, national identification card with photograph, tax identification number, national insurance number, social security number, visa information and/or any other information deemed necessary to comply with our legal obligations under anti-money laundering and counter terrorism financing laws and procedures	To onboard you as our customer and to provide our Services	Necessary for the performance of our contract and to take steps prior to entering into a contract (Art. 6.1(b) of the GDPR and UK GDPR)	1 year after closing your account
	To onboard you as our customer and to provide our Services	Necessary for compliance with a legal obligation (Art. 6.1(c) of the GDPR and UK GDPR)	As long as the applicable legal obligation dictates. Tax legislation In DE X years. Anti-money laundering In UK, LU and NL: 5 years after the end of your relationship with us. In LV: 8 years after the end of your relationship with us.
	To send you information or offer you services that are akin to Services we already provide to you	Necessary for the purposes of a legitimate interest (Art. 6.1(f) of the GDPR and UK GDPR), which legitimate interest is direct marketing and order recovery and updates	1 year after closing your account
	To send you information or commercial offers that are different from the Services that we already provide to you	Your consent (Art. 6.1(a) of the GDPR and UK GDPR)	Until you withdraw your consent
Financial and transactional information Such as: bank account numbers, bank statements, transaction history, trading data, credit/debit card numbers. Information about the transactions you make using the Services, the purpose of the transactions, information on sources of your funds, sender and receiver of funds, and ultimate beneficiary information	To provide our services	Necessary for the performance of our contract (Art. 6.1(b) of the GDPR and UK GDPR)	1 year after closing your account
	To comply with legal obligations, such as tax-, social security- and anti money laundering laws	Necessary for compliance with a legal obligation (Art. 6.1(c) of the GDPR and UK GDPR)	As long as the applicable legal obligation dictates
Your communications with us	To answer your questions and to provide our Services	Necessary for the performance of our contract (Art. 6.1(b) of the GDPR and UK GDPR)	1 year after closing your account
	To document our rights and obligations towards you	Necessary for the purposes of a legitimate interest (Art. 6.1(f) of the GDPR and UK GDPR)	As long as the applicable statute of limitations for rights or liabilities that are connected to the topic of the communication
Your responses in surveys	To develop our business and enhance our services	Your consent (Art. 6.1(a) of the GDPR and UK GDPR)	3 years after your participation in the survey, or until you withdraw your consent (whichever is sooner)
Information you provide through our Interactive Features	If you communicate with us directly (privately) through our Interactive Features: to answer questions you might have or provide services that you request	Necessary for the performance of our contract (Art. 6.1(b) of the GDPR and UK GDPR)	1 year after closing your account
	If you publicly post something on our Interactive Features: to share information for the benefit of others who take an interest in our services and our Interactive Features	Your consent (Art. 6.1(a) of the GDPR and UK GDPR)	Until you withdraw your consent
Information you provide at conferences, trade shows or other events	For market research, in order to develop our business and enhance our services	Necessary for the purposes of our legitimate interest (Art. 6.1(f) of the GDPR and UK GDPR), which legitimate interest is research and development (including marketing research) and taking into consideration that the processed personal data was provided of your own volition at the conference/trade show/event and that our processing is in line with the spirit in which the data was provided	2 years after the conference, trade show or event
	To contact you, e.g. with questions or offers connected to the expertise or interests you displayed at the conference, trade show, or event
Information you provide in a job application	To evaluate your application and respond to it	Your consent (Art. 6.1(a) of the GDPR and UK GDPR)	6 months after we gave you our final decision on your application, or one year with your permission

These are the processing goals, legal processing grounds and retention terms for personal data that are collected automatically when you use our Service:

Category of data	Processing goals	Processing grounds	Retention term
Internet protocol (IP) address, user settings, MAC address, cookie identifiers, mobile carrier, mobile advertising and other unique identifiers, browser or device information, location information (including precise location information and/or approximate location derived from IP address), and Internet service provider.	To allow our computers to recognize your device and communicate with it, in order to perform our Services	Necessary for the performance of our contract (Art. 6.1(b) of the GDPR and UK GDPR)	For the duration of your session
	To monitor the use of our Services for the purpose of recognizing and combating attacks on its security	Necessary for the purposes of our legitimate interest (Art. 6.1(f) of the GDPR and UK GDPR), which legitimate interest is network and information security and fraud prevention	24 hours after ending your session
	To better understand the way people use our Services, so that we can improve on them	Your consent (Art. 6.1(a) of the GDPR and UK GDPR)	2 years, or until you withdraw your consent; whichever is sooner
	To share this information with our advertising partners, so that they may offer you information or advertisements that are tailored to you interests
Information regarding your use of our Services, such as pages that you visit before, during and after using our Services, information about the links you click, the types of content you interact with, the frequency and duration of your activities, and other information about how you use our Services	To better understand the way people use our Services, so that we can improve on them	Your consent (Art. 6.1(a) of the GDPR and UK GDPR)	2 years, or until you withdraw your consent; whichever is sooner
	To share this information with our advertising partners, so that they may offer you information or advertisements that are tailored to you interests

These are the processing goals, legal processing grounds and retention terms for personal data that we collect elsewhere:

Category of data	Processing goals	Processing grounds	Retention term
Information we receive if you access our Services through an app store, a third-party login service, or a social networking site, that you have made available via your privacy settings	To identify you and authorize your access to our Services	Necessary for the performance of our contract (Art. 6.1(b) of the GDPR and UK GDPR)	As long as is technologically necessary to grant you access to our Services
	To offer you information or advertisements that are tailored to you interests	Your consent (Art. 6.1(a) of the GDPR and UK GDPR)	Until you withdraw your consent
Your email address or other contact information if we received it through our referral service	To send you the information that your friend/relation thinks you are interested in	Our legitimate interest (Art. 6(f) of the GDPR and UK GDPR), which legitimate interest is direct marketing	For as long as is technologically necessary to send the information to you.
	To send you further communications, if you opt in	Your consent (Art. 6.1(a) of the GDPR and UK GDPR)	Until you withdraw your consent
	To monitor the effect of our referral service	Our legitimate interest (Art. 6(f) of the GDPR and UK GDPR), which legitimate interest is direct marketing and to provide our Services	2 years after the referral

X. CHILDREN’S INFORMATION

The Services are not intended for users and customers under 18 (or other age as required by local regulations). Monite does not knowingly collect personal information of children. 

If you are a parent or guardian and believe your child has uploaded personal information to our site without your consent, you may contact us at any time using Contact information below.. If we become aware that a child has provided us with personal information in violation of applicable law, we will delete any personal information we have collected, unless we have a legal obligation to keep it, and terminate the child’s account, if applicable.

XI. CONTACT INFORMATION

For any questions and inquiries regarding Data Privacy and information listed in This Policy reach out to our team via email privacy@monite.com.