SUMMARY

An Indian public-sector bank was looking to divest of its subsidiary bank. To facilitate the move, the client needed to perform due diligence for prospective investors and chose FirmsData as its virtual data room (VDR). FirmsData enabled all the parties involved, including the banks, auditors, legal counsel, and prospects, to exchange confidential data while meeting all regulatory requirements. The client has some interested investors and is expected to complete its transaction soon.

CLIENT REQUIREMENTS

A leading public-sector bank that held a majority stake in a subsidiary bank was looking to sell these stakes. This decision aimed to create more value in the subsidiary bank and accelerate its growth & standing in India’s banking industry. Our client, the public-sector bank, was required to share highly sensitive and confidential information with auditors, legal counsel, and prospective investors for due diligence. Hence, they were looking for a solution that would allow them to exchange this data easily while ensuring its security and meeting all compliance requirements.

CHALLENGES IN DATA SHARING & COMMUNICATION

The bank faced the following issues in sharing the required documents and information:

The client sought a solution wherein they could set limits and control data access for the various parties involved
They wanted to apply dynamic watermarking for the end-users reviewing the documents
In the process, they also wanted to monitor and capture the user’s name, IP address, email, date, and timestamp for each activity in the data room
The client sought support for browser viewing for file formats like PDF, MS Office, JPEG, MP4, etc.
They were looking for auto document indexing with the capability to auto re-index
Banking regulations in India require the data to be shared only using servers based in India

BENEFITS OF FIRMSDATA VDR

The leading bank picked FirmsData as its virtual data room for various reasons, including the platform’s simplicity, security, and service.

FirmsData virtual data room helped the client overcome the challenges in the following ways:

FirmsData helped the bank set limits on access and actions for all the parties and individuals involved within seconds
Our virtual data room also applied custom dynamic watermarks to prevent the misuse of assets
The advanced reporting dashboard allowed them to monitor user activity in real-time
FirmData provided plugin-free DRM (Digital Rights Management) to download business file formats like PDF and restrict their use with the option to revoke access
Our ISO 2700I certification, which is the world’s best-known standard for information security management systems, ensured that the platform met all the security and regulatory requirements
FirmsData VDR is hosted on state-of-the-art AWS Virtual Private Cloud (VPC) in India, which checks off the data localization requirement under the Data Protection Law in India

RESULTS OF THE ENGAGEMENT

The public-sector bank leveraged the FirmsData virtual data room to easily share confidential data with the involved parties, meeting compliances and government guidelines.

Following are some results of the engagement:

FirmsData helped the bank streamline data sharing and accelerate the due diligence process
The client is in talks with some interested buyers for the subsidiary bank