Code: 4.1.3 · Adults
Understands that consumers of financial services enjoy rights with respect to their personal data and that they have discretionary control over it
Aware of the existence of national authorities in charge of data protection and of their role in a financial context
Aware of the security implications on personal data of storing financial documents online
Understands that financial service providers and companies may store personal information: - To personalize offers based on the customer's stored profile, which is used to infer the customer's price sensitivity, product preferences and relevant behavior (e.g. in the context of telematics insurance) ; - To track certain relevant actions and behaviour of customers during the contract period (e.g. loan repayment history, driving behaviour based on telematics in the context of car insurance)
Understands the (financial) consequences and risks of sharing or disclosing personal data (including identification numbers, account information, or other identifying information such as address, birth date or government-issued numbers) whether digitally or through other channels
Able to protect personal data online
Assesses personal data requests by financial service providers to decide whether it is relevant to provide such information
Appropriately manages one’s own digital footprint in a financial context, to the extent possible
Avoid engaging in risky behaviours involving one’s own personal data in a financial context
Confident to revoke authorisations to access, use, or store personal data from financial service providers and companies when necessary