Business Data, Inc., which provides outsource delivery solutions for Web, Print/Mail and Archive, has partnered with Virtual Strongbox, Inc., an expert in financial data security, to jointly develop, market and deploy secure online document and file exchange solutions for BDI’s clients.
Virtual StrongBox’s patented encryption-at-rest data technology solutions are secure and regulatory-compliant, removing financial institutions’ No. 1 barrier to transitioning to the cloud. Financial institutions provide their customers with private, secure space in online “safe-deposit boxes” – branded as My Virtual StrongBox – where they can store important documents like deeds and wills. Only the customer has access to his StrongBox, but through the secure file-exchange solution, the bank or credit union and customer can share specific documents through a time-limited access code.
“This is a critical strategic relationship for us,” said Paul Holtzman, President/CEO of Business Data, Inc. “Virtual Strongbox offers the market-leading secure product that high-risk industries dealing with sensitive data require to transition their legacy technology and workflows to the cloud.”
Virtual StrongBox’s cloud technology not only takes security to a new level, but its secure file-exchange solution also eliminates the need to send documents via U.S. mail, email or fax. And this saves time and money by streamlining back-office functions, according to Ron Daly, Founder and CEO of Virtual StrongBox.
“BDI is a leader in the electronic document arena for banks and credit unions, so this alliance is a natural fit for both companies,” said Daly. We’re excited to collaborate with BDI and eager to help the company expand services to its clients. Financial institutions and their customers will be able to quickly exchange mortgage documents, loan apps and other files, which are often paper- and time-intensive.”
Both Holtzman and Daly say they believe there is no better place than customers’ financial institutions to keep their critical documents. The Virtual StrongBox solution improves on the traditional bank safe-deposit concept with anytime, anywhere access. Customers can use the service via their smartphones, tablets, laptops or desk computers.