Addressing compliance issues around public cloud for content collaboration with Box for Financial Services

Box has announced its ‘Box for Financial Services’ initiative … This additional functionality is targeted at addressing some of top concerns financial service institutions (FSIs) typically have around use of public cloud services, chiefly that of regulatory requirements around data security, privacy, auditability and control. These new features should alleviate the key concerns from legal, audit and compliance functions; however, for many institutions the key driver to consider such services will be realization that employees are often already making use of unmanaged, consumer-orientated services (Google Drive, iCloud, DropBox etc) which present significant compliance risks.