This partnership opens an exciting new chapter in our 2030 personal data vault vision for #banks and #CUs. Consolidating and protecting documents with #PII created by third-party #Fintechs is key. Most Fintechs don't even know what the #FFIEC Risk Considerations are. https://lnkd.in/e2GFyjhH
October 25, 2024—Fintegrate is excited to announce its strategic partnership with Virtual Strong Box, an innovator in secure data storage and digital exchange technology. This collaboration leverages both companies’ expertise to provide banks with a highly secure, efficient solution for document collection, management, and storage, all with a focus on regulatory compliance and data protection. Virtual Strong Box offers patented, CIA-level data security and a suite of functionalities specifically designed to address the rigorous demands of secure document storage and exchange. With 17 patents covering critical areas such as data security, virus scanning, information privacy, and private cloud infrastructure, Virtual Strong Box meets the stringent DDIECD requirements for file sharing. Additional features include Single Sign-On (SSO), Multi-Factor Authentication (MFA), and advanced encryption. The platform also provides a Vault-to-Vault exchange, a passwordless share link, an API for automated file collection and storage, e-signature capabilities, and a Google Drive-like vault experience for employees. Fintegrate, known for its innovative solutions to streamline complex financial processes, brings a wealth of experience in financial data integration and management, helping clients leverage technology to enhance customer experience, improve regulatory compliance, and drive operational efficiency. This partnership combines Fintegrate’s expertise in financial systems integration and our business knowledge with Virtual Strong Box’s advanced secure storage capabilities, creating a seamless solution for banks and financial institutions. The new solution developed by Fintegrate and Virtual Strong Box enables banks to securely manage PDF document workflows from data capture to secure storage. Through this system, banks can collect data for PDF documents from source systems such as Loan Origination and Salesforce and automatically send this data to DocuSign for PDF generation. The platform monitors DocuSign for final execution, automatically adds executed PDF documents to Virtual Strong Box’s secure document storage, and, if needed, transfers PDF files to legacy document storage systems like FileNet and Nautilus. The solution also removes the PDF from DocuSign and deletes it from the original source system once secure storage is confirmed, ensuring all sensitive data is handled in a fully compliant, secure manner. This partnership marks an exciting evolution in secure document handling for financial institutions, setting new standards in efficiency, security, and regulatory compliance.