Data Privacy Statement
This Data Privacy Statement (“Statement”), which has been prepared in relation to R.A. 10173, otherwise known as the Data Privacy Act of 2012, and its implementing rules and regulations, describes how personal information are collected, processed, disclosed, and stored by South Bank (A Rural Bank), Inc. (“South Bank, Inc.”) and is applicable to its employees and all persons who apply for or avail of any of South Bank, Inc.’s products and services, or who have established or propose to establish an account with South Bank, Inc., or who have provided or propose to provide third party security to South Bank, Inc. (“Client”).
WHAT DATA TO BE COLLECTED FROM YOU
To provide the Client with South Bank, Inc.’s banking/financial products and services and/or to implement Client-requested transactions, South Bank, Inc. shall collect personal information from the Client which may include, but are not limited to:
- Name, Age, Date/Place of Birth, Gender, Civil Status, Nationality
- Address and Contact Details
- Educational Background
- Employment History
- Financial Background
- Specimen Signature
- Permits, Licenses & Registrations
- Status of Pending Civil/Criminal Cases (if any)
- CCTV footage for security purposes
If deemed necessary, South Bank, Inc. may request to verify the Client’s personal information, or seek additional information from regulatory, judicial, tax authorities, or credit bureaus.
PURPOSES OF DATA PROCESSING
South Bank, Inc. shall process the Client’s personal information in connection with any of the following purposes:
- Open, maintain, and/or terminate accounts;
- Ease of contacting/communicating with clients;
- Evaluate, approve, provide, or manage applications, financial products and services, and other transactions that the Client has requested;
- Comply with know-your-customer information requirements;
- Conduct credit and background checks;
- Evaluate Client’s eligibility for South Bank, Inc.’sproducts and services;
- Perform profile and risk analysis;
- Provide extensive and quality support to the Client;
- For internal purposes, such as administrative, operational, audit, credit and risk management, or;
- Comply with its reporting obligation to government authorities under applicable laws, rules and regulations.
SOUTH BANK, INC.’S METHOD OF PROCESSING PERSONAL DATA
Processing refers to the collection, recording, organization, storage, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure or destruction of personal information.
South Bank, Inc. shall collect personal information through, but not limited to, any of the following:
- Face-to-face and/or telephone conversation with South Bank, Inc.personnel
- Accomplishment and/or signing of forms/documents
WHEN DO WE COLLECT PERSONAL INFORMATION
South Bank, Inc. collects information upon the Client’s application for, availment of and/or usage of South Bank, Inc.’s products and services. This includes, but not limited to, account opening, loan applications, etc.
RECIPIENTS OF INFORMATION
Personal information may be processed and shared with various units within South Bank, Inc. to the extent necessary for any of the purposes herein declared, to credit information bureaus, or to government authorities under applicable laws, rules and regulations.
RETENTION AND DISPOSAL
Retention and disposal of personal information shall be made in accordance with the Record Keeping provision of South Bank, Inc.’s Money Laundering and Terrorist Financing Protection Program Manual (MTPP) as approved by the Board of Directors and in accordance with existing laws and regulations (Anti-Money Laundering Act (AMLA), Bangko Sentral ng Pilipinas (BSP)).
HOW WE SAFEGUARD PERSONAL INFORMATION
In accordance with the Data Privacy Act, RA 1405 (Bank Secrecy Law), RA 8791 (General Banking Law of 2000), BSP Circular 808 series of 2013 (Guidelines on Information Technology Risk Management for All Banks and other Supervised Institutions), and BSP Circular 982 series of 2017 (Enhanced Guidelines on Information Security Management), South Bank, Inc., its employees, and representatives, shall handle personal information with utmost care and adhere to appropriate organizational, physical, and technical measures to maintain the confidentiality, integrity and security of all personal information in its possession.
THE CLIENT’S RIGHTS
In accordance with the Data Privacy Act, the Client has the right to:
- Be informed whether their personal information shall or have been processed;
- Reasonable access to their personal information;
- Require South Bank, Inc. to update their personal information;
- Suspend, withdraw, or order the blocking, removal, or destruction of personal information if South Bank, Inc. is not required to retain it by law or for legitimate business purposes and subject to the conditions for the legitimate exercise of the said rights under the Data Privacy Act and its IRR.
DATA PROTECTION OFFICER
Any inquiry or request for information regarding this Statement may be addressed to the following:
Data Protection Officer
South Bank, Inc.
Rodelsa Hall, RN Pelaez Blvd.
Kauswagan, Cagayan de Oro City
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