FutureVault Launches the Most Sophisticated Digital Filing Cabinet and Safety Deposit Box Ever Built at Finovate in New York City

New Digital Vault Will Change the Way Business is Done

NEW YORK, Sept. 8, 2016 /CNW/ - FutureVault is at the epicenter of a brand new disruptive category in the financial services world: the digital collaborative vault. Launching this week at Finovate, FutureVault allows users to digitally deposit, store and manage important financial, legal and personal documents through a white label, cloud-based, SaaS platform.

(Photo: http://photos.prnewswire.com/prnh/20160908/405734LOGO)

For banks and other financial institutions, FutureVault is a solution used to acquire, retain and reward their customers while yielding valuable data and analytics. With robust features around secure sharing, collaboration and organization, FutureVault is an incredibly 'sticky' tool to connect and stay connected with clients in order to increase both trust and opportunity between all parties.

FutureVault is the latest venture for noted Toronto-based venture capitalist and technology entrepreneur G. Scott Paterson, who realized the current document and account management solutions were not fulfilling his needs. In fact, there were many discrete examples of how even the smallest bit of disorganization around documents, accounts and dates had a material financial impact. He needed a solution that was safe, easy to organize and available to his trusted advisors.

"Within five years, every financial services organization in the world -- banks, credit unions, mutual funds, unions, pension funds, accountants, law firms -- will need to build or buy a FutureVault-type solution to engage and collaborate with customers-- initially as a competitive advantage; later, so as not to be left behind," said G. Scott Paterson, Chairman & CEO, FutureVault. "Within 15 years, it will be unheard of not to have all of one's personal, financial and legal documents deposited in a product like FutureVault."

For end users, or Vault Holders, FutureVault offers the most sophisticated digital filing cabinet and safety deposit box ever built. Using a highly structured taxonomy, FutureVault allows for document storage and filtering across an unlimited number of entities including family members, corporations, sole proprietorships, trusts, foundations, etc.

FutureVault fosters a completely unique type of collaboration between clients and their specific and unique network of Trusted Advisors (wealth advisors, accountants, lawyers, insurance agents, family members, etc.). This patent-pending suite of functionality allows for the sharing and fiduciary tracking of vital documents, ultimately increasing trust between all parties, helping to simplify document and asset management, grow relationships and capitalize on opportunities.  Each Trusted Advisor leaves a digital audit trail allowing the Vault Holder to know what documents are being reviewed and how they are being used. Each Vault Holder receives a secure FutureVault email address so their counter parties can either deliver documents directly into their FutureVault by way of a technology interface (an API) or by simply emailing the documents to the Vault Holder's account.

"The Trusted Advisor feature is a game changer; it is going to change the way business is done. FutureVault effectively outsources activities like storing and assembling documents for tax preparation, loan requests, insurance renewals or claims, etc. from the client to the service provider thereby saving the client countless hours and increasing their productivity," said Mr. Paterson.

Regardless of investment activity or economic status, consumers are bombarded with endless documentation: bank statements, mortgage documents, 401K quarterly updates, auto/life/property insurance paperwork, loyalty rewards programs, medical information, children's school information, etc.  And with those documents come an endless amount of usernames and passwords. With FutureVault, consumers have a one-point solution in a centralized, secure digital vault.

There are many unique features that make FutureVault the best product on the market, including:

• Trusted Advisors - The ability to provide full or partial access to your account to financial professionals like tax preparers, lawyers and financial advisors, representing huge productivity gains for individuals;
• High security storage & bank-grade encryption;
• Smart filing system with 25 categories, 170 subcategories and more than 1,150 suggested documents and document summary forms representing the gold standard in organization and financial literacy;
• OCR-based (Optical Character Recognition) auto-filing system can tell you where to file uploaded documents based on proprietary algorithms. Whether you file your documents in the appropriate folder or not, they will all be searchable as the text has been extracted;
• For financial institutions, structured communication and collaboration with your clients improves workflow efficiencies (i.e.: versus emailing/faxing confidential forms) and provides higher threshold for security and compliance;
• Convenient iOS companion app available at the Apple Store;
• Patent-pending entities and entity filtering functionality.

FutureVault will be launching at FinovateFall in New York City on September 9.

About FutureVault
FutureVault allows users to digitally deposit, store, collaborate and manage important financial, legal and personal documents on a secure white label, cloud-based, SaaS platform. For financial service organizations, it helps to acquire, retain and reward clients while, at the same time, yielding invaluable data and analytics. For Vault Holders, the solution offers the most sophisticated digital filing cabinet and safety deposit box ever built.  Users safely deposit, store and manage personal, financial & legal documents in a highly structured interface across multiple entities (corporations, sole proprietorships, trusts, family members, etc.). FutureVault increases trust and opportunity between parties, helping to simplify document and asset management, grow relationships and capitalize on opportunities.

SOURCE FutureVault Inc.

Image with caption: "FutureVault - Pioneering the Digital Collaborative Vault (CNW Group/FutureVault Inc.)". Image available at: http://photos.newswire.ca/images/download/20160908_C2932_PHOTO_EN_768786.jpg

Media Contact: Abbie Sheridan, KCSA Strategic Communications, [email protected], [phone]; Anne Donohoe, KCSA Strategic Communications, [email protected], [phone]; Corporate Contact: Michael Bradley, CMO, [email protected], [phone]