The Benefits of DAM for Banks and Financial Institutions
4 min read
Digital Asset Management (DAM) systems are increasingly becoming a cornerstone for banks and financial organizations aiming to enhance their operational efficiency, secure sensitive information, and maintain a consistent brand identity.
In a world where digital assets are as valuable as physical ones, especially in the financial sector, the strategic implementation of a DAM system can provide a competitive edge.
This blog post will explore:
- the benefits of DAM systems for financial organizations, and
- real-life examples of DAM benefitting financial institutions.
The Benefits of DAM Systems for Banking and Financial Institutions
1. Enhanced Security: Safeguarding Sensitive Information
In the financial sector, security is not just a feature; it's a necessity. Financial institutions deal with sensitive client information, transaction details, and proprietary financial data.
A MediaValetDAM system provides robust security measures like SSO, encryption, access control, and Forensic Watermarking providing an additional layer of security over traditional file storage systems.
MediaValet is ranked the #1 DAM vendor for security by SecurityScorecard and is SOC 2 certified and compliant with numerous industry standards, including HIPAA, GDPR, and more.
2. Branded Portals: Maintaining a Cohesive Brand Identity
Financial organizations often operate across multiple channels and regions, making consistent brand representation a challenging task.
Whether it's for marketing, communication, internal use, or alignment with the organization's brand guidelines, centralized management of all brand-related assets is essential. But sharing these, especially externally, can be challenging.
MediaValet's Branded Portals ensure that every stakeholder has access to the right content, ensuring consistent branding to help build customer trust and recognition among clients.
3. Scalability and Flexibility: Facilitating Growing Operations
The financial sector is dynamic, with organizations often undergoing changes in size, structure, and operations.
Whether it’s increasing storage capacity, adding new users, or integrating with emerging technologies, DAM systems can evolve without disrupting existing workflows. This flexibility is crucial for financial organizations that need to stay agile and responsive to market changes.
MediaValet offers unlimited users and training to ensure that as you expand, your DAM can scale with you.
4. Improved Workflows: Enhancing Collaboration and Productivity
Collaboration is key in any financial organization, where teams often work on complex projects requiring a high degree of coordination both within and outside of core teams.
DAM systems facilitate smoother collaboration by providing tools for quick asset discovery, version control, workflow management, and real-time asset sharing. These features ensure that everyone is working on the most current version of an asset, reducing errors and saving time.
MediaValet's AI-powered metadata and Advanced Search allow you to discover the right assets, in seconds, while MediaValet analytics to make smarter, data-backed decisions with detailed reports, straight from the DAM.
Use Cases for DAM for Banking and Financial Institutions
ACAMS is the largest global membership organization dedicated to fighting financial crime.
Spread across three main locations; Miami, London and Hong Kong, ACAMS found it increasingly difficult to manage its growing library of digital assets.
They began searching for a DAM platform in 2019 and have since been a client with MediaValet.
At the beginning, they use their DAM to store mostly brand assets like JPGs, PNGs, PDFs and Microsoft files like Excel, Word and PowerPoint.
Eventually, they started to incorporate their creative team's work including production files into the DAM to enable collaboration across the creative team. With the addition of Audio/Video Intelligence, they're also focusing more on video assets.
ACAMS has seen massive returns on their MediaValet DAM, it has saved them time on asset discovery and limits colleagues having to recreate files.
Why did ACAMS choose MediaValet as their DAM provider?
What really made MediaValet stand out was the unlimited support and training. It’s so valuable for us and we’re still taking advantage of it!
James Langan, Senior Global Brand Specialist, ACAMS
Want to learn more about ACAMS DAM Journey? Read their full story here.
A DAM system for banking and financial institutions is not just a tool for managing digital assets; it's a strategic investment that can enhance security, improve efficiency, and foster a stronger brand identity.
Investing in a robust DAM system can yield significant dividends in terms of operational efficiency, compliance, and competitive advantage. As the financial sector continues to evolve, the role of DAM systems in supporting and streamlining these changes becomes increasingly vital.