Virtual StrongBox Initiative Places Patented Technology Inside Online Banking

CHARLOTTE, N.C., May 4, 2015 /PRNewswire/ -- Virtual StrongBox, Inc. announces an agreement with financial technology provider CU*Answers to provide nearly 2 million consumers access to My Virtual StrongBox via the provider's online banking. Virtual StrongBox is known for protecting personally identifiable information the "financial institution way" and offers institutions a host of automated file-exchange and file-storage services.

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Through a five-year shared strategic initiative, CU*Answers will license the solution and invest in Virtual StrongBox on behalf of 245 financial institution clients using its technology network. And the institutions can offer a set amount of free storage to My Virtual StrongBox customers via online banking – a move that could modernize technology and workflow with automated document-transfer and exchanges.

"Consumers trust their financial institutions with their PII more than retailers, credit card companies or Internet providers so it's a logical progression," said Virtual StrongBox CEO Ron Daly. "But this new initiative is taking data security to an unprecedented level."

Virtual StrongBox and CU*Answers also will create direct interfaces between them for document exchange between client FIs, core systems and customers, ensuring secure delivery to and from each other via users' online strong boxes.

"Virtual Secure Mailboxes will become a core operational competency, modernizing technology, workflow, and document-transfer and exchanges. Consumers will soon demand it," said Randy Karnes, CEO, CU*Answers. "The embedded capability to meet their expectation in software solutions will increase in a mobile technology world driven by younger consumers."

Daly believes adopting the best-possible data security is no longer optional. "The industry needs to seriously discuss adopting encryption-at-rest technology for stored data, whether through us or elsewhere. Every day it seems there's another breach of consumer data; we need to step up to a stronger encryption method.

About Virtual StrongBox, Inc.

Virtual StrongBox, Inc. is known for protecting personal data the "financial institution way," providing banks, and other service providers a host of automated file exchange and file storage services. With patented "encrypted-at-rest" document storage, secure forms, push & pull file exchange, and e-signature capabilities, Virtual StrongBox stands apart in helping institutions automate processes, reduce manual intervention, enhance client services, and achieve significant cost reductions. Today, 242 clients serving 3.1 million consumers and business owners can access Virtual StrongBox, and are finding new ways to modernize their technology and reduce workflow costs. To learn more, visit www.virtualstrongbox.com or call (704) 817.4588.

Contact:  Virtual StrongBox, Inc.
Greg Crandell, Chief Strategy Officer
(704) 817-4677
Email

SOURCE Virtual StrongBox, Inc.

Related Links

http://www.virtualstrongbox.com