Why Vaultize is Preferred Over Box by Financial Services, Insurance Companies and Banks

Posted by Anand Kekre on September 10 2015

In today’s world of mobility, everyone wants to stay productive all the time - and hence file sync & share solutions have become very popular. With increased workforce mobility, the need for accessing corporate data from any device (both company-managed and employee-owned) and from anywhere (within and beyond the corporate network) has become priority for businesses.

Banks, Financial services and Insurance (BFSI) companies are not isolated from these end-user demands. But for them, things are very different - these organizations are required by regulations to use and manage sensitive data using the highest security standards. Data leakage can be extremely costly and can lead to legal actions, penalties and loss of reputation – and, in many cases, even complete closure of business. It is important that they provide an enterprise-grade file sync & share (EFSS) to their employees. Otherwise, in absence of such a facility the employees may turn to consumer file sharing services (like Dropbox) that lack end-to-end security, data governance, controls and visibility.

Though Box launched Box for Financial Services early this year by introducing Retention Management, Watermarking and Enterprise Key Management, it has failed to create a splash in the market.

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Topics: Digital Rights Management (DRM), enterprise file sharing, Enterprise File Sync & Share, Box Replacement, Box Alternative, Data Soverignity

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