Box woos financial services firms with a tailored cloud offering

Compliance with FINRA regulatory standards is on the way

Box for Financial Services' watermarking feature

Box for Financial Services' watermarking feature

It was just about two weeks ago that Box set out to remove a major barrier to the cloud for security-minded organizations with its Encryption Key Management capability. Now, it's taken that focus a step further with a full-fledged cloud storage service aimed squarely at financial services firms.

The aim behind Box's EKM, now in beta, is to give businesses in highly regulated industries such as finance the ability to maintain exclusive control over the digital keys used to encrypt their data.

Historically, the lack of that kind of control is a big part of what has kept many companies in such industries off of the cloud.

Box for Financial Services, announced on Thursday, adds to that level of control with industry-specific features developed with partners including Bloomberg Vault, Capgemini and Silanis.

A new retention management feature, for instance, lets organizations comply with record-retention requirements set by financial regulators by securing the creation and modification of documents.

Now in beta, the feature provides full visibility via metadata tags along with adjustable periods and file-level retention, ensuring that if a file leaves a folder with a data-retention schedule, the schedule will follow it, according to Box.

"This is big for getting FINRA compliance, so it was really important for us to put this into place," said Whitney Bouck, Box's general manager of enterprise and senior vice president of global marketing.

Box plans to offer compliance with Financial Industry Regulatory Authority (FINRA) standards starting in the second quarter.

Watermarking, meanwhile, is a new feature that's designed to help discourage data leaks. Using it, prospective investors can view financial documents as collaborators in a folder, for example, with each page of the document marked with an identifier for the individual user.

Anonymous users will see their IP address on every page of the document they are viewing and receive notification that the file is confidential. If a leak occurs in the form of a screen shot, the enterprise will be able to determine who was viewing the document when the images were taken.

Though it's not going through a formal beta process, watermarking will also be available in the second quarter. Pricing on the new products has not yet been set.

Financial services is the fourth industry Box has targeted through its Box for Industries effort, which was announced in September. The first three were healthcare, retail, and media and entertainment.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags financecloud computingBox.netindustry verticalsinternet

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Katherine Noyes

IDG News Service
Show Comments

Essentials

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?