Privacy Policy

Effective Date: 7th of January, 2019

We, Open Financial Technologies Private Limited hereinafter referred to as “Open,” value your trust & respect your privacy. This Privacy Policy provides you with details about the manner in which your data is collected, stored & used by us. You are advised to read this Privacy Policy carefully. By registering on Open platform, using any medium: mobile app, website, mobile site, you give us consent to use & disclose your personal information in accordance with this Privacy Policy. If you do not agree to the terms of the policy, please do not use or access Open.

Note: Our privacy policy may change at any time without prior notification. To make sure that you are aware of any changes, kindly review the policy periodically. This Privacy Policy shall apply uniformly to Open website, mobile site, web/desktop plugins and mobile applications (individually and collectively referred to as “Website” hereafter).

Throughout this policy, the terms “We” / “Us” / “Our” refer to Open Financial Technologies Private Limited and the terms “You” / “Your” / “Yourself” refer to the users. 

Open is providing this privacy policy to familiarize you with:

Who and what this policy applies to

  • The policy applies to all forms of information, physical and digital, whether collected or stored electronically or in hardcopy.
  • We handle data in our own right and also for and on behalf of our customers and users.
  • If, at any time, an individual provides data or other information about someone other than himself or herself, the individual warrants that they have that person’s consent to provide such information for the purpose specified.
  • Open is not available to children (persons under the age of 18 years).

By registering on our Website, you are accepting this Privacy Policy. By mere use of the Website, you expressly consent to our use and disclosure of your personal information in accordance with this Privacy Policy. This Privacy Policy is incorporated into and subject to our Terms and Conditions

Information Collected

When you use our Website, we collect and store your personal information which is provided by you from time to time. This allows us to provide services and features that most likely meet your needs, and to customize our Website to make your experience safer and easier. We collect personal information from you that we consider necessary for achieving this purpose.

Open respects the privacy of its Users and is committed to protect such privacy as detailed herein. In addition, you may encounter "cookies" or other similar device on a web page. These are data collection devices to help analyze our web flow and measure promotional effectiveness. "Cookies" are small files placed on your hard drive that assist Open in providing services to you and giving you information targeted to your interests. Most cookies are session cookies, meaning that they are automatically deleted from your hard drive at the end of a session. You are always free to decline a cookie if your browser permits.
Once you create account (register) on Website and give us your personal information, you are not anonymous to us. Where possible, we indicate which fields are required and which fields are optional. If you are unable to provide the information we need, we may not be able to provide you with the product or service you have requested.

The information that we collect from you would include:

  • Personal identity information such as name, date of birth, residential status, postal address, e-mail address, mobile number, PAN details etc.
  • Information which would help determine your eligibility to avail the services offered by Open.
  • Information which would help Open process applications made by you for the use of services offered by Open
  • Any other information that Open is required to collect as per specific mandate from any bank/NBFC or as a requirement applicable as per the legal rules in India
  • In addition to above, for mobile app: any other information that Open is required to collect in order to provide smooth mobile experience, including but not limited to SMS access for auto- OTP verification, camera/gallery/contacts access, for various functionalities within the app.

Information Sharing and disclosure to third partie

Disclosure of your information may be required by us to provide you access to our services, to comply with our legal obligations, to prevent, detect, mitigate, and investigate fraudulent or illegal activities related to our services. We do not disclose your personal information to third parties except in accordance with the terms contained herein.

  • We may disclose personal information if required to do so by law or in the good faith belief that such disclosure is reasonably necessary to respond to subpoenas, court orders, or other legal process.
  •  We may disclose personal information to law enforcement offices, third party rights owners, or others in the good faith belief that such disclosure is reasonably necessary to: enforce our Terms and Conditions or this Privacy Policy; respond to claims that an advertisement, posting or other content violates the rights of a third party; or protect the rights, property or personal safety of our users or the general public.
  • We may disclose personal information to third parties who work on our behalf, provided that such third parties subscribe to the Principles (as defined below), have entered into an applicable data processing agreement, or adhere to confidentiality obligations consistent with this Privacy Policy. These companies are authorized to use your personal information only as necessary to provide respective services to you. These services may include providing cloud computing infrastructure, Website crash reporting, your Website usage pattern so that we can serve you better and providing customer support or account administration. If you would like to see the list of third parties with whom we currently share your information, you may request a copy of the list by emailing us at letstalk@bankopen.co

Data Retention

We will retain your information for as long as your account is active or as needed to provide our services. We shall retain and use the information collected by us as necessary to comply with our legal obligations, resolve disputes or for other business purposes. If you cancel/ deactivate/ unsubscribe your account with us, we are not under any obligation to retain your information. However, we may retain your information for twelve (12) months after you cancel/ deactivate/ unsubscribe your account with us, as our business practice.

Information Security

You are aware of all security risks, including possible third-party interception of any of your transactions and statements of account on the internet and the content of your transactions or statements of account becoming known to third parties. You agree and undertake that you shall not hold Open liable therefore in any way. The use and storage of any information, including without limitation, the credit card number, PIN, password, account information, transaction activity, account balances and any other information available on your internet access device or computer or mobile phone is at your own risk and responsibility. You furthermore acknowledge and accept that Open may not encrypt all content or communications from and to your website(s).

Links to other sites

  • Links to third-party advertisements, third-party websites or any third party electronic communication service may be provided on the Website which are operated by third parties and are not controlled by, or affiliated to, or associated with, Open unless expressly specified on the Website.
  • Open is not responsible for any form of transmission, whatsoever, received by You from any third party website. Accordingly, Open does not make any representations concerning the privacy practices or policies of such third parties or terms of use of such third party websites, nor does Open control or guarantee the accuracy, integrity, or quality of the information, data, text, software, music, sound, photographs, graphics, videos, messages or other materials available on such third party websites. The inclusion or exclusion does not imply any endorsement by Open of the third party websites, the website's provider, or the information on the third party website. The information provided by You to such third party websites shall be governed in accordance with the privacy policies of such third party websites, and it is recommended that You review the privacy policy of such third party websites prior to using such websites.

Acknowledgements

You hereby agree that the application and copies of all documents submitted by you are and shall remain the sole and exclusive property of Open, and Open shall not be obliged to return the same to you upon your request. Any unauthorized access to the Website is a breach of these terms and a violation of the law. You agree not to access the Website by any means other than through the interface that is provided by Open.

You hereby acknowledge and agree that this Privacy Policy:

  • is clear and easily accessible and provide statements of policies and practices Open with respect to the Information;
  • provides for the various types of personal or sensitive personal data of information to be collected;
  • provides for the purposes of collection and usage of the Information;
  • provides for disclosure of Information; and
  • provides for reasonable security practices and procedures.

If you have any questions, you may write to Open Customer Support at letstalk@bankopen.co