Deutsche Bank is now using DocMagic’s proprietary e-vault technology to safely and securely store sensitive loan documents.
That means the bank’s document custody group is now empowered to take full possession of electronically originated assets for clients as the loan market continues to transition to a paperless process.
DocMagic establishes a legally compliant method to securely move original electronic files from one custodian to another, while preserving unique authoritative digital ownership, the company says in a press release.
Further, the e-vault ensures authentication of original documents passing between owners, irrespective of how many duplicate electronic files there may be of the same record.
The repository system within DocMagic’s e-vault relies upon digital tamper-proof seals and a detailed, well-documented audit trail that ensures compliance and provides detailed reporting.
DocMagic also made available to Deutsche Bank the ability to leverage a unique dual-option solution that accesses its on-premise e-vault installation to provide a gateway to seamlessly and securely connect to MERS via any browser, as well as by way of a direct VPN connection.