For many financial firms such as investment management or asset management firms, M&A firms, private equity firms, insurance companies, hedge funds, and even financial research organizations, protecting sensitive or confidential information is absolutely essential in their business.
That is why these types of security and compliance-driven organizations rely on the use of a secure virtual data room, ideally, one that is combined with robust digital rights management (DRM) capabilities.
These organizations understand the need for applying multiple layers of digital asset protection and control to their content, not just for their own company, but also for the sake of their clients (both buy-side and sell-side), partners, shareholders, vendors, employees, and other important stakeholders.
Confidential or Valuable Digital Assets Belong in Secure Data Rooms
The documents, videos, images, and even audio files that are shared or distributed back and forth contain valuable data and private information that must be protected from unauthorized sharing, leaks, or other types of misuse.
If unauthorized users were to somehow gain access to your clients' sensitive files, your company’s research reports, client/customer lists, price reports, market analyses, investment proposals, newsletters, or any other sensitive information, the consequences could be devastating.
A security breach with these types of digital assets can cost your firm time, money, and reputational harm. Depending on the nature of the breach, and the data that was accessed, it could also open up your firm to lawsuits, compliance-related fines, or worse, disbandment from operating in the insurance or financial markets. That’s why companies like yours need to have the best security in place for their confidential files and other digital assets.
Don't put your firm at such risk! Even if you already use a data room in your business, consider implementing a more robust and secure virtual data room, one that combines file-level encryption with extensive user activity tracking and flexible DRM controls. A solution that allows you to control whether you allow content or files to be downloaded.
For files that are downloaded, Vitrium offers a protected PDF download with its data room solution so that downloaded files remain protected at all times, no matter where they go or where they're saved. You can also set device limits, expiration dates, open limits, and even restrict access to a specific IP address, country, or state. All of this is possible with Vitrium, a company that has been providing VDR and DRM solutions for over 15 years.
Case Study: Aeris Insight
Aeris® provides end-to-end solutions that bring accountability and transparency to investing. Since 2004, Aeris has established risk management standards for private community loan funds (CDFIs) and has helped strengthen the development of impact measurement and management practices in the industry.
Needless to say, their company manages, organizes, and stores a significant amount of confidential information and content that must be kept secure for their company to remain both profitable and reputable.
This need for digital asset protection, and for ensuring only authorized users have access to the company's intellectual property is what brought them to Vitrium. It was and still remains the case today, that their clients who purchase their reports do not redistribute the analysis that Aeris spends countless resources developing.
With Vitrium Security’s virtual data room, the company has peace of mind knowing that their digital assets are secured in an online vault, have added protection of file-level security and digital rights management (DRM) controls such as:
- Copy & print controls
- Dynamic watermarks
- Expiration & device limit controls
- Detailed user tracking
Vitrium Protects Your Content & Reduces Your Risks
According to the Valent Group, small to mid-sized businesses are more vulnerable than you might think. This is because smaller companies have long held the belief that they are “too small” to have to worry about a breach. As a result, many leave themselves vulnerable to security breaches. Regardless of your company size, securing your intellectual property is critical to your financial organization's success.
You may argue that in most cases, the breaches that do occur are not malicious in intent. Something as innocuous as sharing a financial report on a shared corporate network or on a LinkedIn post may have seemed like an innocent act to the offending party, but if the report was purchased for single-use access only, it could result in lost revenue for the company.
If the report contained highly sensitive information, the offending party could be liable for breach of confidentiality and the sensitive information could be leaked to unauthorized individuals, competitors, or even the media.
On the other hand, many breaches, especially to financial firms, are in fact deliberately initiated with malicious intent. Why does this happen? According to CSO Online,
“71 percent of breaches reported were financially motivated.” When something like this occurs, CSO stated that “Data breaches cost enterprises an average of $3.92 million.”
Regardless of the final number in monetary losses your company could incur, that barely scratches the surface of the costs most firms actually end up paying. The irreparable damage could be enough to put your financial institution out of business.
Put another way, you can't afford not to have proper security, control, and tracking measures in place. Vitrium Security is the affordable content protection and virtual data room solution your financial firm needs. Contact us to request a demo today.