Banking Transactions

High-Quality Data Rooms for Investment Banking Transactions

Data rooms give investment banks many flexible options for storing and processing information, significantly reducing capital costs for information technology infrastructure. This article will review the most suitable data room providers for investment banking. 

Data room: digital transformation in the investment banking

Investment banks store huge amounts of information, particularly confidential data about customers, their payments and transactions, inquiries and complaints, etc. The raw data is not of significant value. However, with the help of analysis using Big Data technology, meaningful analytical information can be obtained to understand customers better. Thus, modern banks implement data room solutions. The collection, storage, and analysis of structured and unstructured data sets in single database help banks understand customers’ needs and preferences, allowing them to offer more personalized products and improved services. In addition, Big Data analytics can be used to improve the accuracy of internal reporting for bank management and external banking reporting for regulatory authorities.

In the digital age, the issue of information security is one of the most important priorities for companies in any industry, especially now that information activities have moved to data centers and cloud storage. For banks, this issue is primarily related to the protection of customers’ personal financial information. Banks are required to protect customer information during financial transactions following legal requirements. Virtual data rooms represent a higher level of information security, which will have to provide comprehensive protection of the bank’s database from unauthorized use and can prevent targeted cyber attacks in virtual, physical, cloud, and mobile environments.

The most reliable data rooms for investment banking

There are several objective reasons for the growing popularity of data room solutions. First, banks are moving to the cloud to respond quickly to accelerating change. Secondly, the demand for data room services is associated with a significant increase in the cost of IT equipment and software licenses.

An innovative document management policy, coupled with a good digital system, is a convenient productivity booster for an organization. In addition, automation of document management processes in the data room software will allow the enterprise to work with increased capacity.

The leading data room solution among the companies from the investment banking sector are:

  1. iDeals
  2. Merill
  3. SecureDocs
  4. Firmex
  5. Digify
  6. Citrix
  7. Intralinks
  8. ShareVault
  9. Ansarada
  10. Onehub.

Of course, you can check out more data rooms that also offer similar functionality and can be a suitable solution for your bank.

The data room benefits 

Digital data rooms ensure many valuable advantages for the investment banking sector:

  • Automatic support for distributed management of various information materials throughout their life cycle, from creation to review, approval, distribution, and archiving.
  • Ensuring the full life cycle of working with documents includes automating work with document images, records and workflow management, content management, and so on.
  • A specialized data center will provide a much greater level of reliability than a regular server in a real office. The data room assumes the availability of data backup services.
  • The ability to set viewing permissions for individual sources, and files that meet certain criteria.

Thus, most investment banks are trying to implement such software systems that provide not only the means of creating electronic files and version control but also have a wide range of opportunities for distributing documents and information throughout the organization, content, and knowledge management tools based on the web. In addition, such technologies provide support for document-oriented business processes.