Luottotieto

Luottotieto is a Finnish term referring to a credit information record about a person or a company, used to assess creditworthiness and financial reliability. It is maintained by licensed credit information companies and is used by lenders, landlords, telecom operators, insurers, and other parties when deciding whether to offer credit, a service, or a contract. The information is regulated by the Luottotietolaki and data protection laws such as the GDPR.

The content of luottotieto typically includes identifying data (name, address, personal identity number), and financial or payment information. For individuals, this can cover payment history, current debts, defaults, bankruptcies, and other public records related to payment behavior. For businesses, luottotieto may contain company details, payment records with customers or suppliers, financial indicators, solvency information, and public records. The information can be categorized as positive (reliable payment history) or negative (defaults or adverse events), and both types can influence credit decisions.

Maintainers and access are governed by Finnish law. Credit information companies operate under the Luottotietolaki with supervision by data protection authorities and are subject to GDPR. Access to luottotieto requires a legitimate purpose and appropriate authorization; in many cases, consent from the data subject is necessary. The data subject has rights to obtain a copy of their own luottotieto, request corrections for inaccuracies, and demand deletion or updating of information that is incorrect or outdated.

The reliability and timeliness of luottotieto are essential, and data subjects can challenge errors or incompleteness with the provider or, if needed, with the data protection authority. Obtaining a copy of one’s luottotieto is typically possible directly from the credit information company.