Box introduces specialized file retention and watermarking for financial services organizations

Just two weeks after introducing new technology to bring the cloud to high-security organizations, Box is now making a greater push towards financial services customers.The company says it’s needed three specific enhancements to properly move into the space.

Firstly, the Enterprise Key Management feature Box introduced recently allows financial service customers to have greater control over their files on the cloud and meet industry security regulations. By allowing companies to have complete control over a file’s encryption keys, it ensures they can’t be accessed by the wrong people, including Box itself.

Customers under the Financial Services program will also receive special file retention management to allow them to meet legal requirements from regulators such as the US Securities and Exchange Commision.

These organizations are subject to regulations that order them to preserve transaction records and other important documents for set periods of time and then ensure their proper disposition afterwards. Box is letting them keep the convenience of the cloud while meeting regulations.

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There’s also a new watermarking feature that is displayed when files are previewed on Box. Watermarking allows Box customers to easily assert their ownership over important files and track the source of shared confidential information.

The tool will also dynamically mark files from MS Office, PDFs and images with each individual viewer’s email address and a time stamp to remind them they’re responsible for their own copy.

Cloud services have been scrutinized for their lack security, but these changes could help give Box an edge over its competitors. Given the company just made its Wall Street debut a little over a month ago, it’ll want to appeal to as many industries as possible.

➤ Moving Financial Services Securely to the Cloud [Box]