Morgan Stanley is offering its 3.2 million wealth-management customers an encrypted platform where they can store financial documents and share them with the bank more securely than faxing, emailing or mailing information
The Digital Vault, rolled out this summer, employs technology from Box Inc., an online content-management and file-sharing service for businesses. The tool reflects financial institutions’ confidence in shifting confidential records from their own servers to third-party systems accessed online, or in the cloud.
Six Morgan Stanley employees spent about a year using Box’s technology to develop the vault, which is provided to customers free of charge. “We had to make sure we had the security in place that was going to make us comfortable,” Mr. Cucchiara said. “When you think about the evolution of cloud and…financial services…it’s really about how we’re managing security,” Mr. Cucchiara said.
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