Confidentiality

Each party agrees to keep confidential any information it receives from the other party in the course of this Agreement which, by denotation or reasonable circumstances, is considered confidential to the disclosing party. 
 

The receiving party shall treat such received information with reasonable care and diligence, not disseminating or disclosing it to third parties without the prior written consent of the disclosing party, provided however that each party may share such information with its officers, employees, affiliates, subsidiaries or subcontractors who are subject to confidentiality obligations reflecting the principles herein.   
 

The obligations set forth above shall not apply to (a) a Party's  reference to the other Party in any efforts to secure other business, unless the Party expressly and in writing forbids such reference, or (b) to any information which: (a) was or becomes known to the recipient from a third party without any confidentiality obligation; (b) is or becomes generally available in the public domain through no act or failure to act on the part of the recipient; (c) is required to be disclosed by any competent court, governmental agency, or other relevant public authority in accordance with applicable laws, court order or other public regulation; or (d) has demonstrably been developed by the recipient independently from this Agreement.
 

Each party shall keep all information concerning the business or personal circumstances of End Clients received in connection with the Payment Services and Information Services confidential, and take all necessary measures to prevent unauthorized third parties from gaining access to such information. 
 

For the avoidance of doubt, the duty of confidentiality pursuant to this clause 14 shall under no circumstances be deemed, or practiced, in a manner that is less restrictive than the duty of confidentiality pursuant to section 16-2 of the Financial Institutions Act 2015.