Financial Services

Banking

Private banking in particular is a service requiring the handling of a large amount of confidential information, and sharing it with clients and occasionally other external parties. The communication between a private banker and the client is extremely confidential, and in some cases should not be shared with the banker’s colleagues. Many clients of this type of service are frequent travellers, and may need access to information unexpectedly whilst away from their home or office. Safe4 allows immediate access to personal information from anywhere at any time, using its encrypted connection to the internet (TLS). Documents can be passed in both directions, enabling instructions, mandates, and other vital communications to be delivered by the client to the bank.

Trust Management

Many financial service providers will recommend setting up a trust for their clients, to optimise inheritance planning and securing the most appropriate structures for the management of funds. Trusts are often established for the benefit of families, some of whose members may live in different countries with differing tax regimes. They can also be complex, requiring the sharing of documents with a number of different parties. Again, Safe4 handles this requirement efficiently and with complete confidentiality.

Investment Planning

Financial advisers will assist their clients to build up a portfolio of investments, including pensions. Uniquely, the architecture of Safe4 allows different providers to place confidential information into a vault on behalf of the same client – the providers cannot, however, see each other’s information, but the client can access all of the documents from a single login. By setting up a secure vault in Safe4 on behalf of a client, a financial adviser can establish a fast and efficient mechanism for sharing documents instantly with their clients.

Syndicated Lending

In debt markets, loans are often made available to the borrowing organisations by a lead bank who will involve other banks in providing the total sum of the loan. This form of syndication makes excellent use of Safe4, as it allows the lead bank to share information with other lenders in such a way that the supporting banks cannot see each other’s activity. Complex financial plans and models can be shared in this way without compromising the confidential nature of the documents concerned.

Insurance

Providers of insurance services, whether insurers or brokers, can derive valuable benefits through using Safe4 to make policy information available to their clients. Further benefits can be achieved by handling claims management through Safe4, with its ability to allow all participants in a claim to upload information, and full audit trails as an evidential record of activity. Not only does this cut out the risk of confidential information being intercepted fraudulently if sent by email, it enables all parties to be automatically advised of the status of a claim by the receipt of document upload notifications.

Summary

Fraud has become a major threat in some business sectors; banking is one of the worst affected, with many banks suffering heavy losses due to the unlawful interception of email instructions. Use of Safe4 will eliminate this threat, and will provide complete audit trails of all activities – as well as ensuring that document transmission and handling is totally secure.