How Deutsche Bank is Accelerating their Digital Transformation with NetDocuments
Dec, 18, 2019
Earlier today, we announced that Deutsche Bank, Germany's leading bank with a significant global presence, selected NetDocuments as its global document and email management system, hosted completely in the cloud. Deutsche Bank is the latest leading global financial organization to adopt a cloud-first position in support of their worldwide legal digitalization initiative. Through a deep partnership with NetDocuments, Deutsche Bank is charting a course to real digital transformation.
It’s clear that priorities are changing as global banking institutions like Deutsche Bank now see being cloud-first as a business imperative—something many of these institutions once prohibited their legal departments and outside counsel from adopting.
Why Move to the Cloud?
This trend is driven by the need for global banks to operate as a single, efficient entity while maintaining strict localized governance, compliance, and security standards across multiple international borders and office locations. As a growing number of multinational organizations embrace the cloud and NetDocuments platform, the law firms who represent them now have a clear, unobstructed path to cloud adoption.
It’s tough to overstate the immediate and future impact of Deutsche Bank’s move to the cloud and, more importantly, its commitment to everything a native cloud platform provides. Let’s dig a bit deeper.
The Ability to Scale
Scalability can’t be oversold. Leveraging the NetDocuments platform, Deutsch Bank will be able to add layers to their cloud instance that connect a wide array of diverse internal user groups across all of their worldwide locations. This fosters efficiency and productivity on a global basis, and like Deutsche Bank Chief Administrative Officer Stefan Simon stated enables more “knowledge sharing with colleagues.”
A Single Source of Truth – No Matter Where You Are
Large financial organizations like Deutsch Bank face unique challenges operating in a far-reaching multinational and multi-office working environment. The platform provides the ability to work as one, where users can work on global matters and access all content services across a single worldwide library, while remaining fully compliant with local data sovereignty rules.
This highlights the importance of NetDocuments’ true distributed cloud capability that allows customers like Deutsche Bank to follow the stringent data requirements for every nation in which they operate, while functioning efficiently as one coordinated organization.
To keep this announcement in perspective, a global bank of this caliber must address every conceivable cybersecurity requirement when they implement technology platforms like NetDocuments. Before adopting NetDocuments as their content services platform of choice, Deutsche Bank went through comprehensive diligence audits examining every aspect of the platform’s security infrastructure, policies, procedures, and cryptography.
We did not get here by accident. About five years ago, NetDocuments was the first content services platform to take additional security controls identified by several global banks and incorporate those controls into its formal SOC2 compliance audits, further strengthening our compliance with governance requirements recommended by global banking organizations, resulting in a new SOC2+ compliance report. This puts NetDocuments in alignment with the strict security standards that global banks apply to internal legal teams and outside counsel.
Worldwide banks have made a clear 180-degree turn in favor of cloud-first content services platforms, and leading law firms are going with them. As technology continues to advance and the world continues to shrink via that technology, cloud platforms will become the standard. NetDocuments is proud to be front and center as part of this changing landscape.