Box for Industries starts courting financial services

Following up its new residency on the New York Stock Exchange, Box is wooing some of those financial players with a new line of optimized cloud services.


After healthcare and entertainment, among dozens of others, Box already has its sights set on conquering another industry.

That would be financial services as the newly-minted public company introduced Box for Financial Services on Thursday.

The Los Altos, Calif.-headquartered company first unveiled its unified business vertical strategy at its annual customer expo, BoxWorks, last September.

Dubbed Box for Industries, the enterprise cloud provider built upon its existing storage, collaboration and data management platform and services for healthcare and legal professionals, extending and optimizing those capabilities for roughly a dozen more verticals, ranging from energy and government to manufacturing and construction.

Using retail as an example, a user can tap into and edit metadata templates linked to individual products and seasonal lines when collaborating with vendors and advertisers at external organizations -- all from within the Box platform.

Box now counts more than 44,000 businesses among its customer base, including 48 percent of the Fortune 500.

To specifically serve some of these customers in the financial world, Box tailored several product functions specifically for sensitive data owned by financial services firms. These features hone in retention management (i.e. configuring how long a specific document is saved on Box) and watermarking for mitigating and tracking leaks.

For example, Box said that if a leak occurs as a result of a user taking a screenshot of a document, the organization can use the watermarking function to pinpoint the user account and IP address where the screenshot was snapped.

Box is also working toward supporting Financial Industry Regulatory Authority (FINRA) certification for investment banks and securities businesses.

Some familiar assets are in play, including Box Enterprise Key Management, which debuted earlier this month, bestowing IT admins with the option of managing their own encryption keys and audit logs with complete single-tenant control.

Now in beta, both the retention management functions and Box EKM are scheduled for general availability by this spring. Watermarking and FINRA compliance are also project to follow this spring.

Image via Box