Privacy Policy

This Privacy Policy statement is made by ABELOO SA (collectively, “Abeloo”, “we”, “us” or “our”) and is effective as of 14th May 2019. It applies to all our divisions.

Data protection
What types of personal data do we collect?
On which legal basis and for which purposes do we process personal data?
Who has access to personal data and with whom are they shared?
International transfers of personal data
How long do we store your data?
Your rights
Exercising your rights, and complaints
Security Note
Changes to personal data
How secure is your information
Status of this privacy notice
External links on our websites
Blogs and forums
Social media widgets
Disclosures in compliance with legal obligations
Enforcement of our rights
Business Transfers
Compliance with this Privacy Policy
Notification of changes
21.Your Data Protection Rights Under General Data Protection Regulation (GDPR)
How to get in touch with us

Abeloo Privacy Commitment

The goal of this policy is to make explicit the information we gather on our customers and users, how we will use it, and how we will not. Please take the time to read the privacy policy carefully. By providing us with personal information, you signify your agreement with this Privacy Policy.

Data protection

Abeloo takes your privacy seriously. Abeloo adheres to high data protection standards as well as transparency of personal data collection and processing for our clients. This privacy notice contains general information on what personal data the Abeloo entities in Switzerland referred to in section 2 below collect, what they do with that information, and what rights you have. If you have any questions or comments, please contact us at the address set out in section 8. ‘Personal data’ is any information that relates to an identified or identifiable natural person (rather than to a legal entity, such as a company).

As part of our commitment to protect your personal data in a transparent manner, we want to inform you:

why and how Abeloo collects, uses and stores your personal data;
the lawful basis on which your personal data is processed; and
what your rights and our obligations are in relation to such processing.

What types of personal data do we collect?

The Abeloo entities in Switzerland (“Abeloo”, “we”, “our”, or “us”) will, depending on the product or service we provide to you (if any), collect and process personal data about you including:

Personal details such as your name, identification number, date of birth, KYC documents (including a copy of your national identity card or passport), phone number physical and electronic address, and family details such as the name of your spouse, partner, or children;
Financial information, including payment and transaction records and information relating to your assets (including fixed properties), financial statements, liabilities, taxes, revenues, earnings and investments (including your investment objectives);
Tax domicile and other tax-related documents and information;
Where applicable, professional information about you, such as your job title and work experience;
Your knowledge of and experience in investment matters;
Details of our interactions with you and the products and services you use;
Any records of phone calls between you and Abeloo; and e-mails.
Where applicable, details of your nomination of a mandate;
Identifiers we assign to you, such as your client or account number.

When you access our Website, data transmitted by your browser and automatically recorded by our server, including date and time of the access, name of the accessed file as well as the transmitted data volume and the performance of the access, your web browser, browser language and requesting domain, and IP address (additional data will only be recorded via our Website if their disclosure is made voluntarily, e.g. in the course of a registration or request). When you visit an Abeloo website, that website will contain additional information about how we use your information while you are visiting that website; and

In some cases (where permitted by law), special categories of personal data, such as your biometric information, political opinions or affiliations, health information, racial or ethnic origin, religious or philosophical beliefs, and, to the extent legally possible, information relating to criminal convictions or offences.

In some cases, we collect this information from public registers (which, depending on the product or service you receive, may include beneficial ownership and other registers), public administration or other third-party sources, such as wealth screening services, credit reference agencies, fraud prevention agencies and other Abeloo Group entities.

If relevant to the products and services we provide to you, we will also collect information about your additional card holders or account holders, business partners (including other shareholders or beneficial owners), dependants or family members, representatives, and agents. Additionally, where you are an institutional or corporate client or investor, we will also collect information about your directors, employees or shareholders. Before providing Abeloo with this information, you should provide a copy of this notice to those individuals.

On which legal basis and for which purposes do we process personal data?

3.1 Legal basis for processing

Depending on the purpose of the processing activity (see section 3.2), the processing of your personal data will be one of the following:

(i) necessary for the legitimate interests of Abeloo, without unduly affecting your interests or fundamental rights and freedoms (see below);

(ii) necessary for taking steps to enter into or executing a contract with you for the services or products you request, or for carrying out our obligations under such a contract, such as when we use your data for some of the purposes in sections 3.2(a), (b) (c) and (j) below (as well as certain of the data disclosures described in section 4);

(iii) required to meet our legal or regulatory responsibilities, including when we conduct the checks referred to in section 3.2(a) below and make the disclosures to authorities, regulators and government bodies referred to in sections 3.2(g) and 4 below;

(iv) in some cases, necessary for the performance of a task carried out in the public interest;

(v) when we use special categories of personal data, necessary for establishing, exercising or defending legal claims or where the processing relates to personal data manifestly in the public domain; and

(vi) in limited circumstances, processed with your consent which we obtain from you from time to time (for instance where required by laws), or processed with your explicit consent in the case of special categories of personal data.

Examples of the ‘legitimate interests’ referred to above are:

pursuing certain of the purposes in sections 3.2(a) to 3.2(k) below;
exercising our rights under Articles 26 and 27 of the Federal Constitution of the Swiss Confederation, including our freedom to conduct a business and right to property;
when we make the disclosures referred to in section 4 below, providing products and services and assuring a consistently high service standard across the Abeloo, and keeping our customers, employees and other stakeholders satisfied.; and
meeting our accountability and regulatory requirements around the world, in each case provided such interests are not overridden by your privacy interests.

Any consent Abeloo has obtained to process ordinary personal data does not apply for the purposes of the EU General Data Protection Regulation 2016/679 (“EU GDPR”). Instead, for the purposes of the EU GDPR, Abeloo relies on the lawful grounds of compliance with a legal obligation, contractual necessity or legitimate interests (as specified in this notice) and Abeloo ability to rely on any such consent for the purposes of the EU GDPR is hereby waived or extinguished. For the avoidance of doubt, any consent given for any other reason, for instance (and if applicable) compliance with the Federal Act on Data Protection or the banking secrecy provision of the Swiss Federal Act on Banks and Savings Banks remains unaffected by this paragraph.

Where the personal data we collect from you is needed to meet our legal or regulatory obligations or enter into an agreement with you, if we cannot collect this personal data there is a possibility we may be unable to on-board you as a client or provide products or services to you (in which case we will inform you accordingly).

3.2 Purposes of processing

We always process your personal data for a specific purpose and only process the personal data which is relevant to achieve that purpose. In particular, we process personal data for the following purposes:

a) client on-boarding processes, including to verify your identity and assess your application (including the need for guarantees or other securitisation tools) if you apply for credit, and to conduct legal and other regulatory compliance checks (for example, to comply with anti-money laundering regulations, and prevent fraud);

b) providing products and services to you and ensuring their proper execution, for instance by ensuring that we can identify you and make payments to and from your accounts in accordance with your instructions and the product terms;

c) managing our relationship with you, including communicating with you in relation to the products and services you obtain from us and from our business partners, handling customer service-related queries and complaints, facilitating debt recovery activities, making decisions regarding credit or your identity, tracing your whereabouts, and closing your account (in accordance with applicable law) if it remains dormant and we are unable to contact you after a period of time;

d) helping us to learn more about you as a customer, the products and services you receive, and other products and services you may be interested in receiving, including profiling based on the processing of your personal data, for instance by looking at the types of products and services that you use from us, how you like to be contacted and so on;

e) taking steps to improve our products and services and our use of technology, including testing and upgrading of systems and processes, and conducting market research to understand how to improve of our existing products and services or learn about other products and services we can provide;

f) contacting you for direct marketing purposes about products and services we think will be of interest to you, including those offered by us, Abeloo entities, and our other business partners, and facilitating competitions and promotions;

g) meeting our on-going regulatory and compliance obligations (e.g. laws of the financial sector, anti-money-laundering and tax laws), including in relation to recording and monitoring communications, disclosures to tax authorities, financial service regulators and other regulatory and governmental bodies, and investigating or preventing crime;

h) ensuring the safety of our customers, employees and other stakeholders;

i) undertaking transactional and statistical analysis, and related research;

j) underwriting;

k) for the Abeloo prudent operational management (including credit and risk management, insurance, audit, systems and products training and similar administrative purposes); and

l) any other purposes we notify to you from time to time.

Who has access to personal data and with whom are they shared?

4.1 With the Abeloo Group

We usually share personal data with other Abeloo Group companies in order to ensure a consistently high service standard across our group, and to provide services and products to you. More information about the Abeloo Group companies who receive your personal data can be found in our website.

4.2 Third Parties

When providing products and services to you, we will share personal data with persons acting on your behalf or otherwise involved in the transaction (depending on the type of product or service you receive from us), including, where relevant the following types of companies.:

A party acquiring interest in, or assuming risk in or in connection with, the transaction (such as an insurer);
Companies in which you have an interest in securities where such securities are held by the bank for you;
Payment recipients, beneficiaries, account nominees, intermediaries, and correspondent and agent banks;
Clearing houses, and clearing or settlement systems; and specialised payment companies or institutions such as SWIFT; (if you hold a credit card with us) credit card associations, and other card payment and platform providers;
Market counterparties;
Upstream withholding agents;
Swap or trade repositories;
Stock exchanges;
Other financial institutions, credit reference agencies or credit bureaus (for the purposes of obtaining or providing credit references);
Any third-party fund manager who provides asset management services to you; and
Any introducing broker to whom we provide introductions or referrals.

4.3 Service providers

In some instances, we also share personal data with our suppliers, including Abeloo Group companies and other business partners who provide services to us, such as IT and hosting providers, marketing providers, communication services and printing providers, debt collection, tracing, debt recovery, fraud prevention, and credit reference agencies, and others. When we do so we take steps to ensure they meet our data security standards, so that your personal data remains secure.

4.4 Public or regulatory authorities

If required from time to time, we disclose personal data to public authorities, regulators or governmental bodies, including when required by law or regulation, under a code of practice or conduct, or when these authorities or bodies require us to do so.

4.5 Others

If our business is sold to another organisation or if it is re-organised, personal data will be shared so that you can continue to receive products and services. We will usually also share personal data with prospective purchasers when we consider selling or transferring part or all of a business. We take steps to ensure such potential purchasers keep the data secure.

We may need to disclose personal data to exercise or protect legal rights, including ours and those of our employees or other stakeholders, or in response to requests from individuals or their representatives who seek to protect their legal rights or such rights of others.

International transfers of personal data

The Recipients referred to in section 4 above may be located outside Switzerland. In those cases, except where the relevant country has been determined by the Federal Data Protection and Information Commissioner to provide an adequate level of protection, Abeloo requires such recipients to comply with appropriate measures designed to protect personal data contained within a binding legal agreement. A copy of these measures can be obtained by contacting the Data Protection Officer (“DPO”) at the address at the end of this notice. If and to the extent required by applicable law (such as Swiss Banking Secrecy), we implement the necessary legal, operational and technical measure and/or enter into an agreement with you before such transfers.

How long do we store your data?

We will only retain personal data for as long as necessary to fulfil the purpose for which it was collected or to comply with legal, regulatory or internal policy requirements. To help us do this, we apply criteria to determine the appropriate periods for retaining your personal data depending on its purpose, such as proper account maintenance, facilitating client relationship management, and responding to legal claims or regulatory requests.

Your rights

You have a right to ask Abeloo to rectify inaccurate personal data we collect and process and the right to request restriction of your personal data pending such a request being considered.

Where we process your personal data on the basis of your consent, you have the right to withdraw that consent at any time. Please also note that the withdrawal of consent shall not affect the lawfulness of processing based on consent before its withdrawal.

You have a right to ask us to stop processing your personal data, or to request deletion of your personal data – these rights are not absolute (as sometimes there may be overriding interests that require the processing to continue, for example), but we will consider your request and respond to you with the outcome. When personal data are processed for direct marketing purposes, your right to object extends to direct marketing, including profiling to the extent it is related to such marketing. You may object to direct marketing by clicking the “unsubscribe” link in any of our emails to you, or by contacting us at the address set out in section 8.

Where we process your personal data on the basis of your consent, or where such processing is necessary for entering into or performing our obligations under a contract with you, you may have the right under applicable data protection laws to request your personal data be transferred to you or to another controller. You have the right to ask Abeloo for a copy of some or all of the personal data we collect and process about you.

In certain circumstances Abeloo may process your personal data through automated decision-making, including profiling. Where this takes place, you will be informed of such automated decision-making that uses your personal data, be given information on the logic involved, and be informed of the possible consequences of such processing. In certain circumstances, you can request not to be subject to automated decision-making, including profiling.

You can exercise the rights set out above by contacting the DPO using the details in section 8 of this notice.

Exercising your rights, and complaints

If you are not satisfied with any aspect of the processing of your personal data by Abeloo, we would like to discuss it with you to understand how we can rectify the issue. You may exercise any of your rights in relation to your personal data by writing to us at one of the following addresses.

Address hello@abeloo.swiss.

Security Note

We have in place appropriate technical and organisational measures to prevent unauthorised or unlawful access to the personal data you have provided to us. As complete data security cannot be guaranteed for communication via e-mails, instant messaging, and similar means of communication, we would recommend sending any particularly confidential information by an alternative secure means.

Changes to personal data

We are committed to keeping your personal data accurate and up to date. Therefore, if your personal data changes, please inform us of the change as soon as possible.

How secure is your information

At Abeloo we take data security very seriously. We have taken steps to implement appropriate administrative, technical & physical safeguards to prevent unauthorized access, use, modification, disclosure or destruction of the information you entrust to us. If you have any concerns regarding the security of your data, we encourage you to check our website Abeloo.swiss or write to us at hello@abeloo.swiss with any questions.

Status of this privacy notice

This privacy notice was updated in May 2019. It is a notice explaining what Abeloo does, rather than a document that binds Abeloo or any other party contractually. We reserve the right to amend it from time to time. If the notice has been updated, we will take steps to inform you of the update by appropriate means, depending on how we normally communicate with you, such as through your account statement.

External links on our websites

Some pages of our websites may contain links to websites that are not linked to this Privacy Policy. If you submit your personal information to any of these third-party sites, your personal information is governed by their privacy policies. As a safety measure, we recommend that you not share any personal information with these third parties unless you’ve checked their privacy policies and assured yourself of their privacy practices.

Blogs and forums

We offer publicly accessible blogs and forums on our websites. Please be aware that any information you provide on these blogs and forums may be used to contact you with unsolicited messages. We urge you to be cautious in disclosing personal information in our blogs and forums. Abeloo is not responsible for the personal information you elect to disclose publicly. Your posts and certain profile information may remain even after you terminate your account with Abeloo. To request the removal of your information from our blogs and forums, you can contact us at hello@abeloo.swiss.

Social media widgets

Our websites include social media widgets such as Facebook “like” buttons and Twitter “tweet” buttons that let you share articles and other information. These widgets may collect information such as your IP address and the pages you navigate in the website and may set a cookie to enable the widgets to function properly. Your interactions with these widgets are governed by the privacy policies of the companies providing them.

Disclosures in compliance with legal obligations

We may be required by law to preserve or disclose your personal information and service data to comply with any applicable law, regulation, legal process or governmental request, including to meet national security requirements.

Enforcement of our rights

We may disclose personal information and service data to a third party if we believe that such disclosure is necessary for preventing fraud, investigating any suspected illegal activity, enforcing our agreements or policies, or protecting the safety of our users.

Business Transfers

We do not intend to sell our business. However, in the unlikely event that we sell our business or get acquired or merged, we will ensure that the acquiring entity is legally bound to honor our commitments to you. We will notify you via email or through a prominent notice on our website of any change in ownership or in the uses of your personal information and service data. We will also notify you about any choices you may have regarding your personal information and service data.

Compliance with this Privacy Policy

We make every effort, including periodic reviews, to ensure that personal information you provide is used in conformity with this Privacy Policy. If you have any concerns about our adherence to this Privacy Policy or the manner in which your personal information is used, kindly write to us to hello@abeloo.swiss. We’ll contact you, and if required, coordinate with the appropriate regulatory authorities to effectively address your concerns.

Notification of changes

We may modify the Privacy Policy at any time, upon notifying you through a service announcement or by sending an email to your primary email address. If we make significant changes to the Privacy Policy that affect your rights, you will be provided with at least 30 days’ advance notice of the changes by email to your primary email address. If you think that the updated Privacy Policy affects your rights with respect to your use of our products or services, you may terminate your use by sending us an email within 30 days. Your continued use after the effective date of changes to the Privacy Policy will be deemed to be your agreement to the modified Privacy Policy. You will not receive email notification of minor changes to the Privacy Policy. If you are concerned about how your personal information is used, you should check back at Abeloo website (web side).

21. Your Data Protection Rights Under General Data Protection Regulation (GDPR)

If you are a resident of the European Economic Area (EEA), you have certain data protection rights. Abeloo aims to take reasonable steps to allow you to correct, amend, delete, or limit the use of your Personal Data.

If you wish to be informed what Personal Data, we hold about you and if you want it to be removed from our systems, please contact us.

In certain circumstances, you have the following data protection rights:

The right to access, update or to delete the information we have on you.Whenever made possible, you can access, update or request deletion of your Personal Data directly within your account settings section. If you are unable to perform these actions yourself, please contact us to assist you.
The right of rectification.You have the right to have your information rectified if that information is inaccurate or incomplete.
The right to object.You have the right to object to our processing of your Personal Data.
The right of restriction.You have the right to request that we restrict the processing of your personal information.
The right to data portability.You have the right to be provided with a copy of the information we have on you in a structured, machine-readable and commonly used format.
The right to withdraw consent.You also have the right to withdraw your consent at any time where Abeloo relied on your consent to process your personal information.

Please note that we may ask you to verify your identity before responding to such requests.

You have the right to complain to a Data Protection Authority about our collection and use of your Personal Data. For more information, please contact your local data protection authority in the European Economic Area (EEA).

How to get in touch with us

If you have any questions, complaints or comments about this Policy, please contact us by email at hello@abeloo.swiss. Please, do not send us sensitive information by email, since such communications are not always secure.