American investment bank Morgan Stanley has teamed up with cloud content management firm Box to introduce a document sharing portal for clients.

Dubbed ‘Digital Vault’, the new offering enables clients to share various documents including wills, deeds, estate plans, financial statements as well as tax filings with their financial advisers.

Security concerns are addressed by using encryption during the sharing process.

Box co-founder and CEO Aaron Levie said: “As one of the world’s leading investment banking, securities and wealth management firms, Morgan Stanley has been on the cutting-edge of building technologies that drive their business and financial markets worldwide.

“With Box, they are applying that same forward-thinking strategy, providing clients and their employees with better access to information, and ultimately driving more efficiency and collaboration.”

Users can gain access to the cloud-based tool and upload documents via Morgan Stanley Online and the bank’s mobile app.

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Both clients and advisers will receive notifications after documents are uploaded.

The two parties can also comment on the documents, further improving their collaboration.

Morgan Stanley chief information officer for wealth management Sal Cucchiara said: “Box empowers our clients to collaborate with their financial advisers seamlessly while adhering to the highest standards of data privacy, protection and security.”