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Privacy Policy

We attach great importance to the protection of your personal data and take great care to ensure compliance with the protective provisions relating to privacy and the processing of personal data, in particular European Regulation n°2016/679 of 26 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data, the “GDPR”, and Law n°78-17 of 6 January 1978, known as the "Data Protection Act", as amended in 2018 (the "Legislation in Force").

This privacy policy (the “Policy”) applies to all users of the website https://www.formance.com/.

We invite you to carefully read this Policy, which contains important information on how we collect, use and communicate some of your personal data that you send to us in order to meet your needs but also to optimize and improve the quality of the services we offer you.

The Policy is published and available at any time on the website https://www.formance.com/privacy-policy

1. DEFINITIONS

The following definitions apply to the entire Policy:

“Client” means any person who accesses the Solution and uses the Service.

“Service” means the service offered by Formance to its Clients through the Solution which enables its users to build and track custom money flows for their platform or application.

“Solution” means the solution called Formance, available at https://formance.com.

“User” refers to any person viewing or browsing the Website.

"Client Account" means the account created by the Client on the Solution enabling him/her to access the Service.

“Website” means the showcase website accessible at https://www.formance.com/ and its subdomains.

1. WHO ARE WE?

The Solution, Service as well as the Website, are provided to you by the company GOLDILOCKS, simplified joint stock company with a single shareholder, registered under the Paris trade and companies register, No. 898 531 371, with its registered office located at 9, rue des Colonnes, 75002 PARIS - France (hereinafter referred to as "Formance").

You can contact our data protection team at the following email address: support@formance.com.


2. PERSONAL DATA COLLECTED

2.1 Information provided by the User

When you browse the Website, some of your personal data such as your identification data (name, first name), your contact details (email address), your IP address, your location data, and your browsing history on the Website may be processed. 

2.2 Information provided by the Client

When you use the Solution, some of your personal data such as your identification data (name, first name, gender, date of birth), your contact details (email address, postcode), your IP address, your location data, and your browsing history on the Solution may be processed.

2.3 Information provided by third parties

As part of the Services, we may receive information about you from third parties who hold personal data about you that you have indicated to us, including third party payroll, payment or other providers connected to the Solution. This information will be automatically added to the information collected about you, in order to best meet your needs and to optimize and improve the quality of the services we offer you.

3. WHO IS THE DATA CONTROLLER?

3.1 For the Users

When you visit the Website, for the purpose of informing you about the Solution and the Service, we act as a "data controller" within the meaning of the Legislation in force.

3.2 For the Clients

Formance acts as a "data controller" with regard to the processing of your personal data relating to your subscription to the Solution and the administration of the customer relationship.

In the context of the use of the Solution itself, Formance acts as a “data processor” within the meaning of the Legislation in Force with regard to the processing of personal data relating to the use of the Service through the Solution by the Client.

4. HOW WE USE YOUR PERSONAL DATA

The following table explains how we use your personal data, with details of (i) the purposes for which we use your data and (ii) the legal basis on which we rely to process your data.

Data Processing

Client Account Creation and Maintenance

Set up and manage the Client Account so that the Client can use the Solution and the Service.

Performance of the agreement between Formance and the Client.

Access and operation of the Solution

Administration of access and operation of the Solution to enable Clients to benefit from the Services defined in the terms of the agreement.

Performance of the agreement between Formance and the Client.

Client Login and Identification

Identify Clients when they use the Solution and enable them to retrieve information related to their Client Account.

Performance of the agreement between Formance and the Client.

Commercial Relationship Administration

Management of commercial relationships with Clients (including contract management, invoicing, and day-to-day communication).

Performance of the agreement between Formance and the Client and, regarding processing carried out for accounting purposes for invoicing, compliance by Formance with its legal obligations.

Technical assistance requests

Respond to Clients requests for assistance.

Performance of the agreement between Formance and the Client.

Statistical analysis

Generate statistics on the use of the Website by Users, Clients or prospects.

Consent

Newsletter

To send you commercial information about our offers, events, and services via our newsletter.

Formance's legitimate interest to promote its services to professional customers and prospects.

Marketing

Communicate commercial information to Clients, Users, and prospects, and conduct demonstrations of the Solution.

Consent

Cookies

Ensure the proper functioning and continuously improve the Website and the Solution.

Consent

Data Subjects' Rights Exercise

Process data subjects' requests to exercise their rights.

Compliance by Formance with its legal obligations.

Fraud

Prevent and detect fraud, malware, and manage security incidents.

Formance's legitimate interest to prevent fraud.

5. HYPERTEXT LINKS

The Solution and the Marketing Website may contain hypertext links to the websites of our partners and third parties (in particular social networks and partner merchants). Please note that if you follow these links, the websites and services provided will be governed by their own terms of use and privacy policies. We cannot be held responsible if their terms of use and privacy policies do not comply with current legislation. We advise you to read the privacy policies and terms of use applicable to these websites before providing your personal data and using these websites.

6. DISCLOSURE OF YOUR PERSONAL DATA

For the purposes set out in section 4, we may transfer some of your data to :

  • IT service providers: in order to host your data, maintain our systems, the Website, the Solution and the Service, or monitor the performance of the Website, the Service, the Solution and the User experience (e.g: AWS ; Hyperline)
  • Third parties to whom the User has given consent to access the personal data we collect (e.g: auditor);
  • Marketing and communications operations: data processors that offer online and social media communications solutions and enable data analysis, particularly for marketing purposes (e.g: Ads services, LinkedIn Ads).
  • Consulting: our advisers, such as our lawyers and accountants, and any potential purchaser and their advisers, and new transferees or beneficiaries of the business if our business is sold or merged with another company;
  • Law Enforcement: representatives of law enforcement, judicial or administrative authorities or other authorised third parties, subject to our ethical obligations regarding confidentiality, in response to a request for information if we believe that the disclosure of such information is lawful or required by applicable law.

7. SECURE STORAGE OF YOUR DATA

Formance takes all physical, logical, and organizational security measures to ensure a high level of security for the protection of personal data, and in particular to prevent it from being altered, damaged, or disclosed to unauthorized persons. In the event of any changes to the measures taken to ensure the security of personal data, Formance undertakes not to reduce the level of security.

8. TRANSFERS OUTSIDE OF THE EUROPEAN UNION

Your personal data is processed within the European Union, unless the business contract specifies otherwise or unless we notify you of the transfer of your personal data outside the European Union. In such cases, if transfers are made to countries that do not benefit from an adequacy decision, Formance ensures that relevant data processors implement appropriate legal, technical, and organizational measures to regulate any transfer of personal data, by using standard contractual clauses established by the European Commission.

9. YOUR RIGHTS

9.1 Nature of your rights

In accordance with the Legislation in Force, data subjects have rights over their personal data, namely: 

  • Right of access: any data subject may find out what personal data Formance holds about them and obtain a copy of it. 
  • Right of rectification and erasure: any data subject may request that inaccurate or obsolete personal data concerning them be rectified or erased.
  • Right to object and to restrict processing: any data subject may object to the way in which Formance processes their personal data or request that the processing concerning them be restricted, to the extent that this is possible and subject to any compelling legitimate grounds that Formance may have for continuing the processing, such as legal obligations relating to the fight against money laundering and terrorist financing.

You may also object at any time to receiving our marketing communications (i) by clicking on the link at the bottom of said communications or (ii) by sending a message to the contact details provided below.

  • Right to withdraw consent: any data subject may withdraw their consent for processing carried out on this basis.
  • Right to portability: any Data Subject may request Formance to send personal data concerning them in a structured, commonly used, and machine-readable format in order to transmit it to another data controller, provided that this is possible.
  • Right to define guidelines on the fate of personal data after death: any person may send Formance guidelines on the fate of their data in the event of death, in particular whether or not to communicate their data to third parties. 
  • Right to lodge a complaint with a supervisory authority: any data subject may contact the CNIL or any other competent supervisory authority if they believe that Formance has not complied with certain rules set out in the Legislation in Force (information on how to refer a matter to the CNIL is provided on its website).

9.2 Exercising your rights

For any questions regarding the processing of your personal data or to exercise your rights, you may contact Formance at the following addresses:

Any request should specify the personal data you wish to access, rectify, delete or replace or whose processing you wish to limit or invoke portability. Your User Account information may be requested to facilitate the processing of your request.

We reserve the right to ask you for proof of your identity to verify its accuracy before exercising these rights.

10. DATA RETENTION PERIOD

Your data will be retained for a period not exceeding that necessary to fulfil the purposes set out in this Policy.

If your data is no longer required for the purposes set out in this Policy, it will be routinely deleted unless it is necessary to keep it for longer:

to ensure compliance with legal, accounting and tax retention obligations, i.e. 10 years ;

for the conservation of evidence during the applicable limitation periods, i.e. 5 years;

for commercial prospecting purposes, i.e. 3 years from the end of our commercial relationship with you or from our last contact with you.

Furthermore, if we find that your User Account has not been used for more than 2 years, we will delete your personal data.

11. USE OF COOKIES

11.1. Our cookies

A "cookie", also known as a "tracker" or "cookie" is a small text file containing data that is stored on a terminal (computer, tablet, smartphone...) when you browse a website. We use cookies and other similar tracking devices, such as tags and web beacons on our Solution and our Website to:

  • recognise you when you use the Solution, for example to speed up your access to the Service by allowing you to log in automatically to your User Account each time you log in to the Solution;
  • obtain information about your preferences, your online movements and your use of the Internet in order to produce statistics and improve the ergonomics of our Marketing Website and the Solution;
  • to conduct statistical research and analysis to improve the content of the Website, the Service and our services and to help us better understand your expectations and needs as a prospect or User;
  • to make your online experience more functional and enjoyable.

If you have accepted the storage of cookies on your browser, the cookies embedded in the pages and content you have consulted may be stored temporarily in a dedicated space in your browser.  

11.2. Cookies provided by third parties

We work with third party suppliers such as Google who may also install cookies on the Solution or the Website for anonymised statistical purposes and for vendors to associate your activities with other personal information they or others have about you. These third parties are responsible for these cookies installed on our Solution or Website. If you need more information, we invite you to consult the privacy policies of these third parties, which are available on their website.

11.3 Deactivation of cookies

You can withdraw your consent to the use of these trackers via the cookie management module, by accessing your browser's cookies folder, or by contacting Formance directly at support@formance.com.

You can also set your browser to block cookies or to send a warning message before a cookie is placed on your computer. For more information about cookies and how to disable them, please visit www.aboutcookies.org or www.allaboutcookies.org.

Contact us to exercise your rights under GDPR.

At Formance, we are committed to protecting the privacy of our customers and their end users.

You can find our form for Data Requests https://gdpr.formance.com or you can also email us at compliance@formance.com with any questions or for more information on this topic.