ShareVault, a company with more than 15 years of experience in working with banks, investment and private equity firms, and other financial institutions, understands the pressure-cooker atmosphere in finance dealmaking, so they provide protections for every authorized user, allowing fully-encrypted document sharing from any browser or device, at any time, from anywhere, including those in remote locations. Documents can be remotely “shredded”, even after they’ve already been downloaded. Even those who have access have defined permissions for use, such as save, print, copy, or view only, and expiration dates on access. Sometimes called a virtual deal room, a VDR is used as an ultra-secure online repository for financial records.Ī VDR from a quality provider like ShareVault provides a full array of safeguards: all documents in the VDR are automatically encrypted, and access to documents is limited to an authorized list of users who gain access using a two-factor password. Virtual Data Room: A Protected Environmentīanks and investment firms can meet today’s security challenges by utilizing a virtual data room (VDR). Once a hacker identifies a vulnerable document, malware is attached and the fun begins.

Today’s hackers understand the patterns of relationships common to finance and investment deals and they have sophisticated AI-enhanced algorithms to seek out vulnerabilities - archives with unencrypted financial records, confidential documents shared in an unprotected online environment, data files shared by email or file-sharing apps. The finance and banking industries are prime targets. Security research firm Getastra reports that cybercrime accounted for $6 trillion in damages in 2022, a number they predict will grow by 15 percent a year starting in 2023. However, in today’s world, confidentiality faces new threats, particularly cybercrime. Customers and investors want the assurance that all their data, documents, and personal information are protected from prying eyes, shared only on a need-to-know basis.įinance and banking professionals are well aware of the importance of confidentiality and its tenets are ingrained into the daily practices and culture of their businesses. Privacy and confidentiality are critical for the banking and finance communities.

Microsoft onedrive personal vault