BoxWorks Digital: Key Takeaways from the Financial Services Track

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2020 brought digital disruption to the center of all businesses, in all industries. In financial services, businesses faced unparalleled challenges as they worked remotely to keep the economy afloat, remain secure, and bring their clients new digital experiences. How financial services firms digitally share, access, and collaborate on files with partners, clients, and employees is critical and a testament to their digital transformation journey. At Box, we create an easy way to exchange, manage, and collaborate on financial information in secure and customizable experiences for your clients, partners, and employees. 

At our first ever BoxWorks Digital, we had conversations with technology leaders at BlackRock, Associated Bank, ATB Financial and USAA to discuss how they're evolving on their digital journey throughout a pandemic, key challenges along the way, and best practices. Here are top learnings from our BoxWorksDigital financial services tracks: 

Adapt to your clients needs 

Clients expectations for digital-first experiences has grown over the past few years and this year amplified their need. With Box, enable digital client experiences by accelerating processes like loan activities, onboarding, and day-to-day file sharing and approvals.   

Adapting to client needs for digital engagements created even more personalization for Box customer, Associated Bank. Mike Meinolf, CIO at Associated Bank candidly states "Box has been an integral partner for us as we had to [...] stand up a whole new loan program with the paycheck protection program.[...] Box actually helped us deliver document preparation right to our third party legal entities that were helping put these loan packages together." 

Ensure security is second nature

Security is always your number one concern. It's our expertise. With Box, reduce risk and regulatory fines by adhering to industry requirements like FINRA, SEC 17a-4, WORM, MiFID II and more. Plus, BoxShield brings you timely, accurate alerts on insider threats, account compromise, and malware attacks.

Having confidence in your cloud provider's security capabilities is something USAA values with Box. A longtime customer, Tres Bain, Architect at USAA states "I was always grateful for how Box was constantly evolving those [security] capabilities. They were [...]  on top of a lot of regulatory and different certifications in the security realm. And I thought, that presence that was very apparent to me."

Provide high quality workplaces for your employees

In order for clients to thrive, your employees have to first. With Box, enable a connected, high-quality experience for employees to access, share, and collaborate on files anywhere, on any device. Plus, integrate with over 1400+ systems and applications to centralize content across apps like Salesforce, ServiceNow and AutoCAD. 

With Box, ATB Financial was able to provide a high quality workplace not only for their clients, but their employees as well. Barry Hensch, Head of Technology Enablement at ATB Financial mentioned "API's really is a beautiful thing. [...] We can target and focus on just what the team member needs to do and or what the customer needs to do. So between APIs and just the Box functionality, we've been able to make it easier for team members and cleaner for them to do their jobs." 

Keep learning for the future of work 

No one can predict the future of work, but what you can do is try to be prepared. With Box, build a powerful best-of-breed cloud stack with a single content layer. That way, you connect the content flowing across your favorite business apps and prepare for work style shifts. Kfir Godrich is Global Head of Technology & Enterprise Services at ATB Financial said it best, we have to be "students of the future workplace right now, and try to strategize." 

Whether your financial services firm is at the start of your digital modernization or an expert,  BoxWorksDigital financial services tracks bring you insights into how technology leaders in financial services  are evolving on their digital journey, challenges and learnings along the way.

If you're interested in learning more, watch both sessions here

  • Remote work:  A new normal for financial services
  • Smarter customer communications in the cloud

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