SEB has adopted an ethics policy, Customer Data Ethics Policy, for customer data which sets the framework for responsible handling of customer data, data-driven innovation and the use of AI. The policy consists of eight principles for responsible business development and innovation that will protect customers and safeguard confidence in the bank.
The policy stipulates that the fundamental purpose of collecting and processing customer data must be to favour the stakeholders. Customers must be able to rely on SEB handling customer data in a careful and respectful manner while accepting responsibility for its handling of customer data.
SEB must strive to be able to report its use of data sources, models and AI as well as explaining how AI-based decisions are made. The policy also requires SEB not to sell customer data to a third party for commercial use. However, SEB may share data with a third party in order to develop services that create clear value for customers, when customers have requested this or when it is required by law. SEB has a specially appointed data protection officer.
Customer Data Ethics Policy (pdf)
SEB’s processing of personal data