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Data Privacy
We respect and safeguard the privacy and rights of our customers throughout our services and across our operations.
Protecting personal data and privacy
Data protection at UOB is interwoven into various policies and guidelines, which apply Group-wide and are approved by senior management committees. These include theUOB Code of Conduct, reviewed annually by the Bank’s Human Resources Committee, as well as the following policies, reviewed annually by the Operational Risk Management Committee (ORMC), overseen by the Board Risk Management Committee (BRMC):
- the Group Information Technology Security Management and Cyber Resiliency Policy;
- the Group Operational Risk Management Policy
- the Group Third Party and Outsourcing Risk Management Policy
- the Personal Data Protection Policy;
- the Group Data Governance Policy; and
- the Group Data and Artificial Intelligence (AI) Governance Framework (Annual review and approval by the BRMC).
Our policies and processes reflect our respect of our customers’ interests and preferences. We are committed to honouring their privacy rights, including providing:
- channels for feedback such as email, online contact forms and a phone hotline;
- access to and correction of personal data, as well as issue resolution; and
- resolution of grievances in a timely manner.
UOB’s Privacy Notices, privacy and security practices and the contact details of the Bank’s Data Protection Officer are publicly available online on the UOB Privacy and Security webpage. Through regular mandatory training, we ensure that our people understand the importance of upholding data privacy and are kept abreast of the Bank’s policies and processes.
Personal Data Protection Policy
UOB’s Personal Data Protection Policy sets out the structure for compliance with the Singapore Personal Data Protection Act 2012. This policy is reviewed annually by the ORMC. The policy’s principles are:
- Personal data must only be collected and used for purposes the customer has consented to, or as may be permitted by law;
- Personal data is used responsibly in accordance with our ethical standards and corporate values;
- Access and disclosure are subject to strict controls;
- Integrity and security of personal data are paramount; and
- Personal data that is no longer required for legal or business purposes must be anonymised or destroyed, in accordance with document retention policies.
Data Breach Incident Management
Our Data Breach Incident Management Procedures also provide guidance for the handling of any data breaches. Second Line functions, including Group Non-Financial Risk Management and Group Compliance, and the Data Protection Office independently review data protection breach incidents. Incidents are assessed for potential breaches and/or if affected persons need to be notified. Clear data leakage escalation and reporting protocols are designed to ensure timely breach management and mitigation of harm to data subjects. Post-incident action plans are pursued to closure to address any weaknesses in process that may have resulted in the incidents. Any misconduct relating to breach of confidentiality will be subject to disciplinary action as appropriate.
Advancing ethical data and responsible AI
UOB’s Innovation Group supports the Bank in managing data and AI throughout their respective lifecycles by establishing and implementing robust governance measures. By bringing together subject-matter experts from across UOB, the function drives continual improvement of data health, addresses regulatory requirements and supports the responsible use of data and AI.
Our multi-disciplinary AI Ethics and Model Governance council formulates and guides the governance of the non-risk tiered models, and the integration of the Monetary Authority of Singapore’s (MAS) Fairness, Ethics, Accountability and Transparency (FEAT) principles in the design and validation of the Bank’s AI and analytical models.
UOB’s Data and AI Committee, comprising of senior representatives from diverse functions, provides strategic guidance to ensure strong and effective governance over the use of data and AI.
Related
Fair Dealing
We put our customers and their financial goals first as we grow our business through conscious and concerted efforts across our entire franchise.
Information security
We protect our data and assets from potential cybersecurity risks and threats, ensuring reliable and efficient services for our customers.
Financial inclusion
We are committed to making our banking products and services accessible and affordable.
Related
Fair Dealing
We put our customers and their financial goals first as we grow our business through conscious and concerted efforts across our entire franchise.
Information security
We protect our data and assets from potential cybersecurity risks and threats, ensuring reliable and efficient services for our customers.
Financial inclusion
We are committed to making our banking products and services accessible and affordable.
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