Cornerstone Financial Credit Union has licensed a platform that will enable it to gain greater control and security over lending documents shared with its members. It will deploy Sharebase from Hyland, with the objective of providing members secure access to loan-related documents and packages.

Due to regulations, lenders have been required to collect more documents than ever, increasing the risk of losing or misplacing documents. At the same time, the regulatory penalties for doing so are greater than they have ever been, so lenders are working to ensure they can minimize the risk from documents that are misplaced.

ShareBase is designed to provide an intuitive, automated and secure way for members to access loan information while incorporating an automatic audit trail to ensure corporate and industry compliance. Developed and designed specifically with security in mind, all files in ShareBase are encrypted while at-rest and in-transit. Additionally, data encryption keys are themselves encrypted and rotated to meet the toughest security standards.

"Granting access to members' lending documents, in a safe and secure manner, was a critical component of Cornerstone's quest for a file sharing tool," said Travis Roe, product manager at Hyland. "ShareBase will provide control over the information shared with both internal and external users to know exactly who has accessed information and what actions were taken."