In a move to increase cybersecurity, Morgan Stanley has launched a digital collaboration tool that permits encrypted cloud-based document storage and sharing between clients and their adviser.
The new platform, powered by the cloud content management firm, Box, uses the tech firm's Box Platform, Box KeySafe and Box Governance. The tools permit Morgan Stanley to offer a "digital vault" that provides an encrypted repository for clients to store documents such as wills, deeds, estate plans, financial statements and tax filings, and to share them with their adviser.
Morgan Stanley said that the solution provides an additional layer of encryption above that offered through email. Client documents can be uploaded and accessed through Morgan Stanley Online and through the firm's mobile app, the company said in a release.