How A Data Room Provider Protect The Sensitive Financial Data Of More Than Thousands Of Clients?

The challenge for businesses is the need to combine computing, networking, and storage in content-intensive cloud environments and deliver collaboration, security, and on-demand access. The article will consider how secure Virtual Data Room is for business.

Data Room solution in the financial sector

One of the most important conditions for the implementation of electronic business is the information security of enterprises engaged in electronic transactions and their intermediaries. It implies the security of information and the support of the entire infrastructure of the information system from accidental or deliberate influences that can cause harm. A feature of modern computer attacks is their purposefulness, impact on a specific object of the attack. Web applications are one of the main sources of network security.

All participants in electronic transactions are obliged to determine and ensure the required level of protection of their information systems. Such systems include databases, information networks, data centers, storage for documents and messages, means of document protection and verification of their authenticity, personal computing devices of users. For some areas of activity, increased requirements for information security are applied. These include banking, financial activities, the activities of defense, and security government agencies. So, how to keep your financial data safe during online transactions?

Nowadays for this purposes moat organizations prefer using Virtual Data Room (VDR). It is a cloud-based digital platform for secure file-sharing and business collaboration. The goal of such collaborative systems is to reduce the barriers imposed by space and time. learn more information here must be able to process data and information, especially at a high-precision level, and it must also have the necessary features to:

  • information management at a low cost;
  • real-time access to the current information necessary to support their decisions;
  • contribution of each of the employees of the company to the achievement of the goals of the organization of the system;
  • ensuring increased protection of data and information;
  • providing a collaborative working environment in which relationships are created between entities that carry out common processes (employees, suppliers, customers, entrepreneurs).

How do Data Room providers protect your financial data?

Data Room providers use a secure network connection to protect your financial data and maintain personalized access to the system with logging of transactions. To protect the corporate infrastructure, methods of authentication and identification of users and devices, data encryption, and the creation of protective barriers are used to prevent penetration into the corporate network from the outside.

The main security measures in the Data Room system include:

  • ensuring the protection of information and telecommunication systems from unauthorized access, restricting employee access, controlling and accounting for access, differentiating user access rights to the information system following their job responsibilities;
  • ensuring the protection of electronic document management using electronic signature or other analogs of a handwritten signature, using digital certificates;
  • using digital watermarks;
  • provision of cryptographic protection when transferring information in information systems;
  • establishment of requirements for information security of information objects, control of their implementation.

Besides, Data Room stores the entire history of contacts for a specific customer, which allows not only analyzing customer preferences but also preventing possible difficulties in communicating with the customer. In addition, this approach changes the scheme of working with the buyer in principle: now the client does not need to wait for his manager to return because Data Rooms are online systems that enable any customer-employee to quickly get acquainted with information about the customer’s purchase history and resolve his issue.