Processing of Personal Data When Using Moneyplan

Moneyplan is LHV’s digital solution that helps the Customer gain an overview of their expenses and income through the automatic categorization of transactions.

To provide the solution, including transaction categorization and improving its accuracy, LHV processes the following personal data of the Customer:

• data related to the account selected by the Customer;
• transaction data related to the account, which may reveal sensitive information, including special categories of personal data (for example, payments to healthcare providers, pharmacies or other similar service providers may reveal information about a person’s health);
• transaction data categories and category changes made by the Customer.

To improve the accuracy of categorization, LHV uses machine learning-based solutions.

The processing of data is based on the Customer’s consent. The Customer has the right to withdraw their consent at any time by notifying LHV at info@lhv.ee. Withdrawal of consent does not affect the lawfulness of the processing of personal data carried out before the withdrawal. If the Customer withdraws their consent, further processing of the data will cease and Moneyplan cannot be used until the Customer provides new consent.

LHV retains personal data processed within Moneyplan in accordance with the retention periods set out in the LHV Customer Data Processing Principles. Data processed for the purpose of improving categorization is retained for up to one year.

For more information about the Customer’s rights and how to exercise them, please refer to the LHV Customer Data Processing Principles.