Data Protection and Privacy

Trust is important, especially when it comes to your personal data. That is why we see it as our obligation to exercise the utmost care in the handling of your personal data and to do everything we can to protect your information from misuse.

FactorBank AG adheres strictly to data protection laws in the collection and processing of your data. The following information explains in detail which data is collected when you visit our website and how we use this data.

This Privacy Policy applies to the websites of FactorBank (*, where the asterisk stands for a readable string). Individual pages may contain links to other providers within and outside the UniCredit Group, to which the privacy policy does not extend; meaning that we cannot assume any liability for this content

Contact us

1. Who is responsible for data protection and whom can I contact?

The entity responsible for data processing is:
FactorBank AG
Rothschildplatz 1
1020 Vienna
Phone: 050505 60100

Contact details of the data protection officer of FactorBank AG:
UniCredit Bank Austria AG
8576 / DPO Office
Rothschildplatz 1
Telefon: 05 05 05 – 32836

2. Which data is processed and what are sources of this data?

We process the personal data that we receive from you within the scope of our business relationship. We also process data that we have legitimately received from credit agencies (e.g., CRIF GmbH), debtor registers (e.g., KSV 1870) and from publicly available sources (such as commercial register, register of associations, land register, media).

The processed personal data includes:

  • your personal data (e.g., first and last name, address, contact data, birthday and birthplace, nationality, position in a company)
  • Legitimization data (e.g., ID- documents) and authentication data (e.g., signature sample)

 In addition, the following data can also be processed:

  • order data (e.g., payment order)
  • data resulting from the fulfilment of contractual obligations (e.g., turnover data in payment transactions)
  • information about your financial position (e.g., credit rating and other related scorings)
  • advertising and sales data
  • data in order to document (e.g., consulting protocols)
  • register data
  • Information from your electronic communication with the bank (e.g., FactoringOnline)
  • Results generated during internal processes
  • data to fulfill legal and regulatory obligations

3. For what purposes and on what legal basis is the data processed?

We process your personal data in accordance with data protection regulations:

- for the fulfilment of contractual obligations (Section 6 Para. 1 lit. b GDPR):
The processing of your data (personal data, Section 4 Para. 2 GDPR is necessary to handle banking transactions, provide financial services and to process insurance, leasing and property transactions with you. We also require this data for the implementation of contracts we have concluded with you. As well as for executing your orders. In addition, we process personal data as part of the activities we must carry out to maintain the ongoing operation and administration of a credit and financial services institution.

The purposes of data processing are based primarily on the specific product (such as account, credit, building society services, securities, deposits, procurements) and include, among other things:

  • Needs analyses
  • Advisory services
  • Wealth management and consulting
  • Processing of transactions

The specific details for the purpose of data processing can be found in the respective contract documents and terms and conditions.

- to comply with legal obligations (Section 6 Para 1 lt. c GDPR):
Certain statutory obligations, which UniCredit Bank Austria AG is subject to, may require the processing of personal data. Such obligations may arise from the provisions of the following laws:

  • Austrian Banking Act
  • Austrian Financial Markets Money Laundering Act
  • Austrian Securities Supervision Act (SSA)
  • Austrian Stock Exchange Act

Compliance with regulatory requirements may also be necessary, for example in relation to:

  • the European Central Bank
  • the European banking regulator
  • the Austrian Financial Market Authority (FMA), etc.

Examples of such cases:

  • Providing reports to the money laundering unit in certain suspicious cases (Section 16 FM-GwG [Finanzmärkte Geldwäsche Gesetz (Financial Markets Money Laundering Act (FMMLA))]
  • Providing information to the FMA in accordance with the SSA and the Stock Exchange Act, for example, to monitor compliance with the rules on market abuse with insider information
  • Providing information to financial crime prosecutors in the context of financial crime proceedings for a deliberate financial offence
  • Providing information to federal tax authorities in accordance with Section 8 of the Account Register and Account Entry Act.
  • Providing reports to the authorities in certain cases (Section 16 Austrian Money Laundering Act)

- within the scope of your consent (Section 6 Para. 1 lit. a GDPR):
If you have granted us consent to process your personal data, processing will only take place in accordance with the purposes set out in the declaration of consent and to the extent agreed therein. Any consent given may be revoked at any time with future effect (for example, you may object to the processing of your personal data for marketing and promotional purposes if you no longer consent to processing in the future).

- to safeguard legitimate interests (Section 6 Para. 1 lit. f GDPR): Should it become necessary to process your data over and above the terms stipulated in the contract in order to safeguard the legitimate interests of UniCredit Bank Austria AG or a third party, then such processing can be carried out in the following cases:

  • Consultation of and data exchange with credit agencies (such as the Austrian Credit Protection Association 1870) for the identification of credit and default risks;
  • Review and optimisation of needs analysis and direct customer approach procedures
  • Advertising or market and opinion research, provided that you have not objected to the use of your data pursuant to Section 21 GDPR
  • Video surveillance for collecting evidence of criminal offences, or to provide evidence of transactions and deposits (e.g., at ATMs); these especially serve to protect customers and employees
  • Telephone records (such as in the event of complaints)
  • Measures relating to business management and the enhancement of services and products
  • Measures for protecting employees and customers, as well as the property of the bank
  • Measures for the prevention and combating of fraud (Fraud Transaction Monitoring)
  • In the course of legal proceedings

4. Who has access to your data?

Within UniCredit Bank Austria AG, your data is received by those offices or employees that require your data to fulfil contractual, statutory and regulatory obligations and to safeguard legitimate interests. Furthermore, data processing companies acting on our behalf (especially IT and back-office service providers, and service line providers) receive your data if they require it to provide their respective services. Accordingly, all the data processing companies are contractually obligated to keep your data confidential and to process it only in the context of service provision.

Public authorities and institutions, (such as the European Banking Supervisory Authority, European Central Bank, Austrian Financial Market Authority, fiscal authorities, etc.) as well as UniCredit Bank Austria AG as our parent company and other companies affiliated with the UniCredit S.p.A. Group within the meaning of the Austrian Stock Corporation Act (AktG), receive your personal data.

Notice of bank secrecy: With regard to forwarding data to other third parties, we would like to point out that as an Austrian credit institution, UniCredit Bank Austria AG is obligated to comply with banking secrecy regulations in accordance with Section 38 of the Austrian Banking Act, and must therefore maintain confidentiality regarding all customer-related information and facts which have been entrusted or made accessible to the bank in the course of the business relationship. Therefore, we can share your personal data only if you have explicitly released us from banking secrecy in advance, in writing or if we have a legal or regulatory obligation or authorisation for it.

In this context, recipients of personal data can be other credit and financial institutions or similar institutions (depending on the agreement, this can be, for example, correspondent banks, stock exchanges, depositary banks, credit agencies, etc.). 

5. How long will your data be stored and processed?

For the entire period of the business relationship (from the initiation, to the implementation, until the end of the contract) and beyond, in accordance with the legal safekeeping and documentation obligations. These are set out, among others, in:

  • the Austrian Company Code (UGB)
  • the Federal Fiscal Code (BAO)
  • the Austrian Banking Act (BWG)
  • the Financial Markets Money Laundering Act (FM-GwG)
  • the Austrian Securities Supervision Act (WAG)

Moreover, the statutory limitation periods must be taken into consideration for the retention period, and in accordance with the provisions of the General Civil Code (ABGB), for example, these can extend to as long as 30 years in certain cases (the general limitation period is 3 years)

6. Which data protection rights are entitled to you?

At any time, you have:

  • the right of access, the right to rectification, right to erasure or the right to restriction of processing regarding your stored data
  • the right to object to the processing of your data
  • the right to data portability as set forth in the provisions of the data protection laws and regulations

Any complaints should be directed to the Austrian Data Protection Authority: 

Barichgasse 40-42
1030 Wien

7. Are you obliged to provide data?

You must provide such personal data which is necessary to establish and maintain our business relationship, as well as the information which we are legally required to collect.

If you are not willing to provide this data to us, in most cases we are obliged to refuse to enter into a contract with you or to process your order. In such cases, we are no longer able to execute an existing contract and must therefore terminate it.

However, you are not obliged to grant permission to process your data in the case of data that is not relevant for the fulfilment of the contract, or is not required for this purpose by legal and/or regulatory authorities.

8. Is there automatic decision making including profiling?

We do not use any automated decision-making processes in accordance with Art. 22 GDPR to reach a decision on the establishment and implementation of the business relationship. 

A manual credit check is carried out when a contract is concluded.

9. Cookies and web analytics

We use so-called cookies to make our offer as attractive as possible for you. Cookies are small text files which enable user recognition. You can prevent the installation of cookies by adjusting your browser software accordingly.  

In order to analyse and improve the structure and navigation of our website and tailor it to the needs of our customers, we use a locally installed analysis tool, used for statistical evaluation, in order to review the needs-based design of our website. Only anonymous information is stored, and we are not able to establish a connection with your person.

10. Data Security

The security of your data is our highest concern. Our stated aim is to take all technical and organisational measures required to ensure that our data processing is carried out in a secure manner and to process your personal data in such a way that it is protected from access by unauthorised third parties.
We make sure our IT infrastructure complies with the highest international security standards by using the most up-to-date security software, codes and encryption procedures.