Data Privacy and Governance

Data Privacy and Governance

Information security and customer data privacy is absolute and a fundamental requirement that must be met. UOBI is highly committed to protecting customer data and privacy through safe and robust systems and practices. Therefore, with the rapid development of information technology, UOBI strives to prevent the risk of leakage and irregularities in the use of customer data.

Our Policy and Commitments

Data Privacy

UOB Personal Data Protection Policy Principles:

  • personal data must only be collected and used for purposes for which the customer has been notified and has explicitly consented to, or are permitted applicable law and regulations related to data privacy;
  • personal data is used responsibly in accordance with our ethical standards and corporate values;
  • access and disclosure are strictly on a need-to-know basis; and
  • integrity and security of personal data are paramount.

All personal data that is no longer needed for legal or business purposes must be securely deleted, in accordance with the applicable law and regulations related to data privacy.

The Data Protection Officer performs oversight to ensure compliance with applicable regulations, assisting investigations of suspected breaches as and when required. The Operational Risk Management and Data Protection Officer reviews each incident and related plans and actions are prepared by the business and supporting units. Significant incidents will be reported to the Risk Management Committee.

Any provision of marketing information must seek the customer's approval to receive telemarketing calls. We will facilitate customer requests to access and correct our personal data in accordance with the applicable law and regulations related to data privacy.

Customers may also access our website to find out information about the policies we use for data privacy and protection. Privacy notices are also available online.

Ethical Use of Data

Information technology advancements and their benefits are used to the fullest extent possible for business development needs. In this case, UOBI also leverages artificial intelligence and analysis with the purpose of using data responsibly and ethically throughout its business.

The Importance of Data Quality

Data security must be supported by quality data. This is important for effective decision-making at the highest level as the materials are for analysis and reporting both for internal purposes such as risk analysis and the interests of regulators. Providing quality, accurate and timely data is a concern and a crucial part of our operations.

Review of Policy and Performance Effectiveness

All UOBI employees have received IT Security training. As of December 2023, 100 per cent new hires have completed the training module.

Throughout 2023 we did not receive any complaints, grievances, fines or sanctions resulting from leaks of information, personal data or misuse of customer data.

We continue to invest in IT capabilities, cybersecurity and human resources to ensure data security, and most importantly safeguard our customers' trust.