Privacy Policy

The following privacy policy introduces the general provisions of processing, use and protection of personal data of the visitors and customers of AraratBank OJSC (hereinafter Bank) official webpage: www.araratbank.am (hereinafter Webpage). 

AraratBank highly values the security of personal data of Webpage users. The content of the site and this privacy policy are governed by the Armenian legislation. All the terms used on this website are to be interpreted as defined in Republic of Armenia Law “On protection of personal data” (hereinafter referred to as “the Law”). Under the law, any personal information that permits or may allow direct or indirect disclosure of the identity of the individual is considered to be a personal information․

The Bank reserves the right to modify any provision provided in this Privacy Policy without prior notifying the User. Users can be notified about any applicable modification either on the relevant section of the Webpage or via email.

1․Personal data collection 

The Bank may collect the following Personal Information:

• Information that the User provides to the Bank at its own discretion while filling in any application on the Webpage, subscribing to the newsletters, registering on the Bank's online platform, communicating with the Bank through online chat (hereinafter Chat). User personal information is accessible to the Bank from the moment the User completes and sends an application or subscribes to the news.
• Information that the Bank acquires through third-party tools, such as information about the User browser or the device used to access the Webpage, visit information, geolocation information, and so on. Information on the IP addresses, browser and storing them in the "Cookies" section will automatically start when the user visits the Webpage.

Any information received by the Webpage shall be deemed to be personal information collected by the Webpage, and shall be used exclusively for the Bank's internal research and for the provision of more customer-oriented services.

2․Data usage methods

The Bank may use the information collected through registration, subscription, Contact Us forms or other third party tools only for the following purposes:

• To improved customer service quality,
• For the quality of service that complies with the user's requirements,
• To send bulletins containing emails to investors,
• To respond to a request of the Customer:
• To reply to user requests, for example when they have filled in an application form, contacted the bank via Chat or other means;
• Provide information on the products and services of the Bank; 
• To fulfill any of the obligations set forth in the agreement between the Bank and the User;
• To provide access to any Webpage interactive feature;
• To notify on the changes to information on the Webpage;
• To make the Webpage more user-friendly for devices accessed with;
• To analyse the Webpage and advertisements campaign usability 
• In order to identify potential problems and misconceptions and provide them with appropriate solutions.
• In order to identify potential problems and misconceptions and provide them with appropriate solutions.

The information provided by the User is stored in the Database, which is automatically updated every time new information is received. 

The Bank also uses the collected data for purposes of fulfillment of its obligations under its laws and international treaties, as well as for the identification of possible offenses (including terrorism, money laundering and other financial crimes).

3․User data protection methods

User personal data is stored in secured networks and accessible only to a limited number of people who have specific access rights to these systems and are required to comply with the confidentiality of the information. In addition, any data that the User inputs on the Webpage is protected by Secure Socket Layer (SSL) technology. The Bank performs a number of security functions to ensure a secure visit to the Webpage.

4․"Cookie" usage

The Bank endeavors to provide via the Webpage the most accessible and user-friendly information. For this purpose, the Bank uses cookies that are small text files and are retained on a customer's computer or mobile device when visiting certain webpages. The Bank uses cookies for several purposes.

• To understand and remember the preferences for the future visit of the webpage,
• Webpage usage analysis, visitor counting and webpage upgrades;
• Integration of social networks with the webpage;
• To track, monitor and analyze advertisements related to the webpage;
• To improve the quality of services provided by the Bank. 

If the User continues to use the Webpage, he automatically agrees to the collection of personal data through the webpage cookies for the aforementioned purposes. If needed, you can turn off cookies from the browser settings, but disconnection of cookies may result in technical difficulties and partial usage of the page.

5․Providing information to third parties

The Bank does not sell or otherwise transfer the User's personal data to third parties without prior consent of User . The Bank may disclose the information defined by the law for the purpose of protecting the rights of the Bank or other persons, property or security. The Bank does not allow any third party to conduct a User Behavior Review of the Webpage.

Individual implementing webpage hosting as well as other individuals who are supporting the webpage operation are not considered third parties, provided that those individuals are bound to maintain the confidentiality of that information.

The Bank may also disclose the information in the cases prescribed by law for the purpose of protecting the rights of the Bank or other persons, property or security. Non-personally identifiable information may be provided to other persons for marketing, advertising, or other purposes.

6.Changes in this Policy

The Bank reserves the right to modify any provision expressly provided in this Privacy Policy without prior notice to the User. Any applicable modification will be posted to the user's attention at the relevant section and will be emailed to them.