Global Financial Institution Deploys WatchDox for Secure File Collaboration, Compliance

PALO ALTO, Calif.--(BUSINESS WIRE)--WatchDox, a provider of enterprise solutions to share, control and work with files on any device, today announced that a world-renowned financial institution with more than 100 years of banking history has deployed WatchDox’s secure solution. This bank provides investment banking, asset management, wealth management and retail banking, and it has deployed WatchDox technology for its 70,000 users, representing the largest enterprise file-sharing deployment in the industry to date.

“For the financial institution, WatchDox stood out from more than 50 vendors due to our ability to offer a custom-built, official iOS enterprise app that delivered viewing, annotations and editing with file-centric security”

The institution, which views WatchDox technology as a competitive differentiator, needed to allow its executives, investment bankers and wealth managers to access and work on sensitive documents via iPads, pairing productivity and mobility with file security and collaboration. As the bank measures its employee file storage in petabytes, the WatchDox platform, deployed on-premise and connected to local network-attached storage, presented a far more economical solution than working with a cloud file-sharing vendor that charges for storage. Since WatchDox’s security provides persistent file protection in tandem with an easy-to-use interface, it was the clear choice for the bank’s need for executive mobility, secure external collaboration and the incorporation of enterprise file sharing and sync functionality into the bank’s own employee iOS app.

The investment bank operates under numerous compliance and regulatory standards, and the bank’s international sites operate under cross-border data flow restrictions and stringent privacy laws. WatchDox provided the flexibility to deploy the solution within multiple geographies as part of the bank’s IT environment.

“For the financial institution, WatchDox stood out from more than 50 vendors due to our ability to offer a custom-built, official iOS enterprise app that delivered viewing, annotations and editing with file-centric security,” said Moti Rafalin, CEO of WatchDox. “As global banking enterprises accommodate employees’ mobility and collaboration needs, this WatchDox customer can deliver what its users want while staying true to its deep commitment to security, which is crucial to its brand.”

As a result of the WatchDox file-sharing deployment, productivity increased among the bank’s senior executives, wealth managers, and other mobile workers, who can now safely view and share documents on their mobile devices. The bank also avoided paying a premium on extra cloud storage space for the volume of data it might require to accommodate petabytes of files by using WatchDox on a per-user basis, and it saved printer paper by migrating meetings to a paperless form. This defrayed a substantial percentage of the cost of the WatchDox solution.

For more information, or to access an in-depth case study, visit here: https://www2.watchdox.com/2013/03/global-bank-case-study/

About WatchDox

WatchDox enables organizations to access, protect and control their critical documents wherever they go: on any tablet, smartphone, or PC, even those beyond the IT department’s control. With WatchDox technology, organizations can collaborate securely with partners, safely adopt bring-your-own-device (BYOD) initiatives, and destroy their files remotely if a device goes missing. More than 500 enterprises worldwide – including top-10 financial institutions, government agencies and many of the Fortune 500 – depend on WatchDox secure file-sharing solutions. For more information, please visit http://www.watchdox.com.