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DATA PRIVACY NOTICE

In compliance with the requirements of the Data Privacy Act, Innovative Bank would like to secure your consent on the general use and sharing of information obtained from you in the course of your transaction/s with any member of Innovative Bank or with third parties. This data includes your personal information, may be stored, updated and disclosed by Innovative Bank for legal purposes, to implement transactions which you request, allow, or authorized to offer and provide new or related products and services of Innovative Bank or third parties and to comply with Innovative Bank internal policies and its reporting obligation to government authority under the law.

This statement covers the privacy practices for our customers who apply for and obtain products and services from us, such as, but not limited to, deposits, loans, investments, insurance, safety deposit box, and other such products and services that the Bank may offer from time to time.

We keep your data confidential and use it only within the bound and applicable Philippine laws, rules and regulations. We only share your information when it is expressly authorized by laws and most importantly, when it is with your consent. Further, we retain and safely store your data for as long as your account exists.

The privacy practices described in this Statement are primarily intended for individuals in the Philippines and are designed to comply with the Data Privacy Act of 2012 (R.A. 10173) and its implementing rules and regulations. 

DATA PROCESSING

  • The information we hold about you/ your account may be processed onto our database and used by us and other member of Innovative Bank in the provision of other related products and services. Your information will be protected in accordance with data protection act which all members of staff adhere to.

  • The information we hold about you may also be available for the purposes of complying with applicable laws on anti-money laundering.

  • We retain copies of your personal identification and other evidence you provide only to comply with applicable regulations for the prevention of financial crime.

  • We will obtain your written consent before providing any information about you. However, if we receive a request/order from a financial institution, financial investigation unit, court of law, etc. verifying your identity for money laundering prevention purposes, we will provide this information.

  • Otherwise, we will keep your information protected and secured at all times. 

 

WHAT WE MAY COLLECT FROM YOU

  • Personal data and employment details;

  • Financial information, business interests, and assets;

  • Details of your family members, beneficiaries, and other individuals or companies related to you;

  • Images via CCTCV and other similar recording devices and processes which may be observed when visiting our offices and/or using our other facilities;

  • Voice recording via conversation with you

We may, as and when necessary, seek to verify or augment this information with third-party entities including government regulations, judicial, supervisory bodies, tax authorities or courts of competent jurisdiction and, in the process, gain additional; information about you.

In the course of availing our products and services, we also collect information about your transactions and dealings which include your account activities, movements and interactions with third parties such as merchants and utility companies.

 

HOW WE USE YOUR DATA

We use the data collected to deliver and provide the products and services that you have availed to:

  • Approve, facilitate, administer and process applications and transactions;

  • Respond to queries, request and complaints and improve how we interact with you;

  • Send you statements, billings, notices and other such documents necessary for continued use of our products and services;

  • Conduct studies and researches for the purpose of reviewing, developing and improving our products and services;

  • Perform profile analysis, behavioral modeling and analytics to understand needs, preferences and market trends to be able to improve and recommend suitable products and services.

We may transfer, store, and/or process your personal data outside the Philippines. In doing so, we will comply with the Data Privacy Act and its implementing rules and regulation.

We wish to assure you, that we do not, and will not, sell personal data to any third parties. All our engagements with third parties shall be fully compliant with our obligation of confidentiality imposed on us under the applicable agreements and/or terms and conditions or any applicable laws that govern our relationship with you.

 

HOW WE PROTECT YOUR PRODUCT

We fully recognize the value of your personal information, particularly as it may include sensitive personal information such as your gender, government-issued IDs, etc. Appropriately, we strive to maintain the confidentiality, integrity and availability of your personal information by employing physical, technological and procedural safeguards. We train our employees to properly handle your information. Whenever we engage other companies to provide services for us, we require them to protect personal information aligned with our own security standards.

We store your information in paper and electronic formats. The safety of your personal information is important to us and we take reasonable steps to protect it from misuse, unauthorized access, modification, and unauthorized disclosure of your data. We may store your personal data physically or electronically with third party data storage provider.

WE ACKNOWLEDGE YOUR RIGHT

In respecting your rights to privacy, you may opt to tell us:

  • Not to share your information with our subsidiaries and affiliates or with other companies that we have business with provided that such information is not critical nor required by applicable laws and regulations in maintaining the services that you have availed with us;

  • To provide you with information that we currently have about you subject to restrictions applied to us as a Bank and a company operating in the Philippines by certain laws and regulations

  • To update your information

  • About your concerns relating to how we collect, use, share, protect or dispose your information

 

HOW LONG DO WE KEEP YOUR INFORMATION

Your personal information shall be retained for as long as the purpose for which it was collected, and such other purposes that you may have consented to from time to time, remains in effect and until such time as it is no longer required nor necessary to keep your information for any other legal, regulatory or business purposes.

 

ELECTRONIC BANKING SERVICES

In the future, we may introduce electronic banking services via Internet. When you access our websites, we may provide information about us as well as information regarding our products and services. If you have enrolled your account as a condition of use, you may conveniently access your accounts through the website. In the course of using our network of websites and electronic platforms, we may collect non-personal information such as those provided by your device which may include the IP address, operating system, browser type and version, and other machine identifiers. We may track your location if you use our location-based content such as branch or ATM locators. We may likewise use web analytics tools, including those of third parties’ that use cookies to collect anonymous information and data generated in connection with your activities when you visit the pages and our network of websites.

 

HOW TO CONTACT US

For any queries, clarifications or requests on any aspects of this Statement, the exercise of your rights pertaining to your personal information or to provide any feedback that you may have about our processing of personal information, please visit any of our branches which is manned during the business hour.

YOU MAY ALSO WRITE OUR DATA PRIVACY OFFICER AT:

DATA PRIVACY OFFICER

INNOVATIVE BANK, INC. (A RURAL BANK)

F. Martinez Street, Takungan Pililla, Rizla

8654-0018, 8654-0019

helpdesk@innobankph.com

                      is regulated by Bangko Sentral ng Pilipinas,
and is a member of                            , PDIC, and PESOnet.

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Copyright © 2020 Innobank - All Rights Reserved.

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