News: Another financial services organisation takes advantage of changing regulation to use the cloud.
Western Union has turned to Box in order to centralise content and find new ways to work in the cloud.
The global payments service will be using Box as part of its ongoing plan to digitise business processes and more customised content experiences for its customers.
The deployment of Box came through the Box – IBM partnership and is designed to improve how employees collaborate in the cloud with both internal co-workers and external business contacts, automate and simplify management of retention policies by using Box Governance, and enable employees to be able to work anywhere from any device.
Mike Bartholomy, Senior Manager, Information Security of Western Union, said: ““It is extremely important that our employees are able to access critical business materials from any device. User enablement is a top priority for us.”
Bartholomy went on to say that the company has seen an increased amount of usage from its employees across the world and that it has helped to create a central workspace that is aiding in streamline business processes.
Adam Ross, MD, Financial Services, Box, said: “Because of the highly mobile workforce and the strict compliance standards it’s held to, the financial services industry has to continually innovate in order to maintain a high level of agility and productivity.”
Cloud services are being seen as a more viable option among financial services organisations due to changing regulations that have made it possible to use cloud. What this means is that organisations, like Western Union, are not as restricted in their choice of technology, opening up avenues into thing like cloud.
The benefit of cloud ahead of traditional systems is that they can help to reduce IT expenditure, increase the agility, and with technologies like Box, helped to improve global collaboration so that the business can operate more effectively and efficiently.
Box said that it has seen adoption in the financial services industry growing with companies such as Nationwide Insurance, and AAA using its service since it launched Box for Financial Services in February 2015.