This Privacy Policy outlines the terms of use for the XAPP mobile application, provided by NDB Wealth Management Limited (NDBW). The app is designed to facilitate investment transactions and generate reports for investors.
A. What information does the Application obtain and how is it used?
1. User Provided Information
1.1 When you register with XAPP for the use of the Application, you will be initially required to provide the following information: -
A valid email address, mobile number, and a personal identification document such as a National Identity Card (NIC), driver's license, or passport. This information must align with the details previously provided by the client during NDBW's KYC (Know Your Customer) process.
Biometric information (such as fingerprint and/or facial recognition) used for future logins to the mobile app, provided that your device supports biometric authentication.
The above information is used to verify the customer's identity within NDBW's systems. Based on the provided details, the company will retrieve necessary data, including the customer identification number, email address, and mobile number, to complete the registration process.
1.2 To log in to the Application you will be required to input your username and password. You can also use your fingerprint or face ID for logging in to the app, if your mobile device supports biometrics.
1.3 When installing and using the Application, you will be providing the Application access to the following:
File manager of your mobile device in the event that you need to download a receipt of your transaction or generate a report. The receipt/report you download will be saved in the Downloads folder of your mobile device.
Gallery of your mobile device in the event that you wish to open an account online with us, where you will be required to upload photos of your identification and billing proof. This information will be used to verify and authenticate your identity.
1.4 We may also use the information furnished by you (User Provided Information), to contact you from time to time in order to to provide you with important information, required notices and marketing promotions.
1.5 We generally do not collect sensitive information (such as information relating to ethnic origin, religious or philosophical beliefs, membership of a political or trade associations or health), and would not do so without your consent.
2. Automatically Collected Information
In addition to the above , the Application may also collect certain information automatically, including, but not limited to, the type of mobile device you use, your mobile operating system and information about the way you use the Application (Automatically Collected Information).
In line with regulatory requirements, the brand, model number and device ID of your mobile device, along with the type of operating system used shall be captured and registered on the NDBW’s back end systems. This information will be linked to your user profile, and you will be able to login to the Application only through such registered devices.
B. Why we collect personal information
Generally, we collect, update and use personal information about you to carry out administrative operations, and also to improve our services to you including:
To process your application for onboard as a client in NDBW system (including checking your identity and obtaining reports and perform KYC requirements) and to establish and manage your investment account or facility and carry out transactions you wish to make.
To enhance your app experience by enabling features such as investments, withdrawals, generating reports etc.
For our research and development of new products and services
To communicate our, or related company's marketing offers to you – when making the offer we will let you know how you may stop receiving any further marketing offers.
To meet our legal obligations
To improve our services by better understanding your needs and preferences.
C. Does the Application collect precise real time location information of the device?
Yes. This Application collects precise information about the location of your mobile device solely for the purpose of KYC requirements.
D. Do third parties see and/or have access to information obtained by the Application?
Third parties do not have any access to the information collected via the application
E.What are my opt-out rights?
You can stop all collection of information by the Application easily by deactivating the Application by calling the NDBW’s call center at +94 112303232 requesting for a deactivation and thereafter uninstalling the Application from your mobile device.
F. Data Retention Policy, Managing Your Information
We will retain User Provided Information as mentioned in clause 1 above and Automatically Collected information as mentioned in clause 2 above for as long as you use the Application and for a reasonable time thereafter as per the NDBW’s policy.
G. Security
We are concerned about safeguarding the confidentiality of your information. We provide physical, electronic, and procedural safeguards to protect information we process and maintain. For example, we limit access to this information to authorized employees and service providers who need to know that information in order to operate, develop or improve our Application. Please be aware that, although we endeavor to provide reasonable security for information we process and maintain, there is no security system which can prevent all potential security breaches.
You agree to indemnify and keep us indemnified against any claim, action, suit or proceeding brought or threatened to be brought against us which is caused by or arising out of (a) the provision of User Provided Information as mentioned in clause 1 above and the enabling/authorization by you of the NDBW collecting the Automatically Collected Information as mentioned in clause 2 above (a) your use of the Application , (b) any other party’s use of the Application using your user ID and/or password, and/or (c) your breach of any of the Terms and Conditions applicable to the use of the Application , and to pay us damages, costs and interest in connection with such claim, action, suit or proceeding.
H. Changes
This Privacy Policy may be updated from time to time at the discretion of NDBW. We will notify you of any changes to our Privacy Policy by posting the new Privacy Policy on the relevant app stores. You are advised to refer to this Privacy Policy regularly for any changes, as continued use is deemed approval of all changes.
I. Your Consent
By using the Application, you are consenting to our processing of your information as set forth in this Privacy Policy now and as amended by us from time to time.
J. Contact us
If you have any questions regarding privacy while using the Application, or have questions about our practices, please contact us via our call center on +94 112303232 or email at contact@ndbinvestors.com