Background: With 14 million domestic customers, 20,000 employees and total assets of €215 billion, Deutsche Postbank Group is one of Germany’s major financial services providers.
Challenges: Postbank’s investor relations department needed a solution that would enable it to work with external agencies four times a year to prepare quarterly and annual reports in German and English. About 50 project participants work to tight deadlines to collate corporate data, which is edited for clarity and must not fall into the wrong hands before publication.
Solution provided by Brainloop: To meet this challenge, Postbank decided to conduct all confidential communication with the agencies in Brainloop’s web-based data room. Their decision was based on the solution’s two-factor authentication, in which the user enters a password followed by a one-time PIN sent by text message directly to his or her cellphone. Postbank also chose the Brainloop Secure Dataroom for its sophisticated version management. Additionally, the solution’s audit trail function records every access to the information, supporting compliance with regulations that stipulate how confidential data should be handled. In the past, collaborating on the reports was time-consuming and error-prone as several people would be making changes to documents at the same time. The changes then had to be copiedinto a master file. This situation was quickly resolved by Brainloop Secure Dataroom’s version management functions. In the Brainloop data room, all project participants can be sure they areworking with the latest version of a document.To ensure the best possible content protection, the documents stored in the data room are encrypted with a 256-bit Advanced Encryption Key (AES). All data transmission between the clients and the data room is also protected by 128-bit encryption. With the integrated permissions system, the various users can be given different editing rights depending on their role. These rights range from read-only access to copying or forwarding documents to other authorized users.
Summary: Postbank realized that by using Brainloop, the bank could now meet compliance regulations that stipulate how confidential information should be handled. In summary, the bank found itself with a platform for the secure storage, collaboration and distribution of confidential documents across its multiple agencies.
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