No matter the segment — banking, insurance, wealth management, and beyond — customer expectations continue to increase – as does the threat of security breaches. Firms are faced with the task of creating personalized, seamless, digital experiences for customers, enabling a flexible working environment for employees, and securing all of the sensitive data involved. That’s where Box comes in. Box is the Content Cloud — one secure platform for the entire content journey that frees your team to collaborate with anyone, anywhere, while protecting your content with cloud-native, built-in security, intelligent governance, and comprehensive compliance.
At this year’s BoxWorks Digital, we shared new innovations in the Content Cloud, spoke to some of our key partners to discuss the importance of interoperability, and heard from leading organizations, customers like USAA and Northern Trust, discussed how they navigate the changing financial services environment with Box. Below are a few of the highlights, including exciting product updates across the Content Cloud. Learn how these updates benefit Financial Services organizations and allow them to focus on what matters most — their clients.
Keep security and compliance at the forefront
There are three main security challenges that every organization is tackling: maintaining a zero-trust model, protecting data from leaking, and guarding against threats. However, bad actors continue to find new ways to gain access to sensitive data through phishing attacks and the regulatory landscape only gets more complex for firms. For the Financial Services industry alone, 55% of organizations were affected by ransomware last year, costing millions.
Box is uniquely positioned to help you navigate these challenges, and help you protect your client, employee, and company data, and ultimately, save your company from paying associated costs if this data get compromised. With built-in, seamless security, we’re committed to mitigating the risk for our customers.
- Last year, we introduced malware deep scan in Box Shield, which helps security teams identify emerging and unknown malware types. This year, we're expanding the number of files types that malware deep scan will automatically evaluate. And to help achieve Zero Trust security, we’re continuing to add new core security features — email-based multi factor authentication, programmatic self-service remediation via the API to terminate user sessions, and the ability to apply security policies based on defined user groups. Box's capabilities help customers mitigate malware and address security concerns in a frictionless way, minimizing the risk without impacting productivity.
- We also announced ethical walls, am exciting new feature in Box Shield that prevents the exchange of information between different user groups within an organization, reducing risk of conflicts of interest. Companies need to safeguard insider information and ensure that improper trading does not occur, which makes this feature especially important for the Financial Services industry. For example: Firms that are completing large, complex, and confidential financial transactions need to include content in their virtual data rooms. Ethical walls will allow firms to be confident that only the correct users are engaging with this content – allowing them to proceed quickly with deals and provide a seamless experience for clients.
- Lastly, we continue to make substantial enhancements to retention in Box Governance. Modifiable retention provides customers the flexibility that they asked for – certain retention policies can be easily updated as business needs evolve. Up next, we’ll enhance how you export and review content under legal hold, tighten the Box Sign integration with event-based retention, add trash as a disposition action, and provide enhanced reporting and disposition insights for the visibility you need across your entire organization.
Exceed your clients’ expectations
Customers expect to interact with their financial institutions whenever and wherever it is most convenient for them. This means signing contracts from their phone, uploading tax documents from home, interacting with their advisor via a portal, and more. Creating these seamless experiences for customers is key to attracting new clients, building loyalty, and ultimately driving retention. The Content Cloud – and our robust network of partners – helps you create a more secure, efficient, and collaborative environment for conducting business, providing your clients and employees with a more effective and interactive way to work.
- Last year, we introduced Box Sign, our natively integrated e-signature solution that reduces fragmentation of both content and user experience, expensive point solutions that also have to be managed, and security and compliance gaps. We’re bringing even more Box Sign capabilities to our customers - unlimited signatures, multi-doc support, and custom branding. Plus, with a robust set of APIs and pre-built integrations, customers can integrate Box Sign capabilities into other applications, enabling users to send documents for signature directly from apps they work with - such as Salesforce. And with integrations into Box Relay to automate e-sign workflows and soon with Box Shield for native threat protection, you can seamlessly apply Box’s built-in security and compliance to signed documents.
- Work has changed, and real-time collaboration is now a requirement. With Box, empower your teams to work together, efficiently and productively, from anywhere, on any device. This year, we announced Box Canvas — our new secure, visual collaboration and whiteboarding tool that brings financial services processes to life: interactive meetings between clients & advisors, designing marketing programs and pitch books, or mapping out the client onboarding experience. And, with the reimagined Box Notes, get new content creation capabilities, display and formatting options, and more ways to organize content with a simple, intuitive user interface for easy use.
- We’re also bringing new innovation to the Box Platform, extending the value of Box to custom applications through APIs and developer tools. We’re continuing to improve functionality, creating a richer, more seamless experience within your client apps and a simpler developer experience for your team. We’ve added enhanced capabilities like UI elements for content preview with annotations, an application code collection to showcase sample code for common use cases, custom app insights that show key information about your apps, and an automation library so admins can easily automate repetitive tasks.
Think future forward with the Content Cloud
No one can predict what’s next for the future of work but we’ll continue to innovate to help you prepare. Whether your financial services firm is at the start of your digital modernization journey or you’re a seasoned digital expert – your clients’ expectations will continue to change. With Box – you can ensure that you always have access to the latest and greatest content collaboration and workflow features, plugged into your applications, and protected with built-in security and compliance.
We're thrilled to introduce all of these brand-new capabilities across the entire Content Cloud, helping you meet the needs of today's market and stay vigilant against emerging security threats so your firm can tackle the challenges and opportunities that arise with the future of work.