At Sovereign Bank International (“SBI”), we prioritize the protection of your personal information and the transparency of our data management practices. This Privacy Notice outlines how we collect, use, share, and protect your information, in compliance with the laws of St. Christopher and Nevis, the Financial Services Regulatory Commission (FSRC) Nevis Branch, and internationally recognized standards including the General Data Protection Regulation (GDPR). Our practices also comply with Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), Anti-Proliferation (AP), and Anti-Corruption regulations, further supporting the Trust Services Criteria for Security, Confidentiality, and Availability as validated in Datasoft’s SOC 2 Type II report.
SBI gathers personal information through account applications, transactions, communications, online interactions, and authorized third-party providers, such as:
Personal Identification: Name, date of birth, nationality, and valid government-issued identification numbers.
Contact Information: Residential and mailing addresses, email addresses, and telephone numbers.
Financial Information: Bank account details, transaction records, credit history, and assets.
Online Activity Data: IP addresses, cookies, device information, and engagement with our banking platforms.
Socio-Economic Data: Employment details, income status, and occupation.
Compliance Data: Information necessary for AML/CFT/AP and Anti-Corruption checks, including risk assessments and transaction monitoring.
We use your information to provide robust banking services while ensuring regulatory compliance and enhancing your experience:
Account Management: Facilitating account set-up, transactions, and personalized service delivery.
Fraud Prevention and Security: Identity validation, AML and CFT checks, and protecting against unauthorized access or illegal activity.
Customer Communication: Updating you on services, product offerings, and promotions based on your consent.
Regulatory Compliance: Meeting obligations under applicable laws such as AML/CFT/AP regulations and the Automatic Exchange of Information Act, overseen by the FSRC.
Product Development: Leveraging data insights to develop new functions and improve existing services.
Your information is shared strictly for legitimate business or legal purposes, including:
Service Providers and Partners: Sharing data with vetted providers for essential services under strict confidentiality arrangements, as per Datasoft’s SOC 2 standards.
Corporate Affiliates: Limited data sharing within corporate entities to optimize service delivery.
Legal and Regulatory Authorities: Data may be shared with bodies such as the FSRC for compliance with regulatory requirements, including AML/CFT/AP directives.
Transactional Actions: In events like mergers or acquisitions, customer information transfers under stringent privacy agreements.
Subject to your jurisdiction, you may have rights regarding your personal data, including:
Right to Access: Request records of your data held by us.
Rectification and Erasure: Seek corrections or request deletion under applicable laws.
Restriction and Objection: Limit processing or dispute direct marketing practices.
Data Portability: Obtain your data in a format suitable for transfer to another service.
Consent Withdrawal: Revoke granted consent for processing without retrospective impact.
To adjust data sharing preferences or opt-out, contact [email protected]. Assistance is available through our digital platforms and customer service.
Google Analytics is a web analysis service provided by Google LLC (“Google”). Google utilizes the Data collected to track and examine the use of this Application, to prepare reports on its activities and share them with other Google services.
Google may use the Data collected to contextualize and personalize the ads of its own advertising network.
Personal Data processed: Cookies; Usage Data.
Place of processing: United States – Privacy Policy – Opt Out.
SBI employs advanced security protocols, including encryption, continuous monitoring, access restrictions, and regular audits, informed by best practices highlighted in Datasoft’s SOC 2 report, ensuring data integrity.
Cookies are used for operational effectiveness and user interaction improvement. You can manage cookies through browser settings, understanding potential service interaction impacts.
Data may be transferred internationally, adhering to stringent security protocols to ensure compliance with global data protection standards.
We retain personal data only as necessary to fulfill service commitments and legal obligations, subject to regular review against statutory requirements.
This Privacy Notice undergoes regular assessment and updates, with significant changes communicated through official digital channels to keep you informed.
Your feedback and questions regarding our privacy practices are welcome. Contact:
Privacy Office
Sovereign Bank International
The Belmont Garden Complex, Building H
Pinney’s Estate, St. Thomas Parish
Nevis, West Indies
Email: [email protected]
We honor your trust by safeguarding your privacy while adhering to the highest regulatory standards, including AML, CFT, AP, and Anti-Corruption laws.